Topic: Bitcoin does not provide full anonymity - page 2. (Read 553 times)

Really? Like should you even do these? I am not really in favor of this much, I have all my money in my binance account that I did KYC for and nothing has happened to me, before that I was at poloniex, before that it was cryptsy as well, and none of them were neither scammed me (got out before cryptsy end up going down) and none of them gave my information to anywhere that used it against me.

This is why I feel like it is not really a big deal and we should not go overboard with anonymity if we do not want to. If this is what someone prefers then I could just say kudos and move out of their way and let them do it, but I do believe that it is not needed, it is a way too much and shouldn't be done and should be useless at that point.

Yes, and I believe it's a good thing. We should all be grateful to Satoshi for how Bitcoin is particularly designed. There's a perfect amount of balance. A certain amount of privacy is provided by Bitcoin. At the same time, it isn't private enough that law enforcers would be totally blind when it is involved in a crime. Privacy was definitely not the most important thing that Satoshi had in mind when he created it. The result is a cryptocurrency that is easy to adopt even from the side of governments and authorities.

Satoshi wasnt just a careful person; he was the personification of planning and vision. His choice to stay hidden has shown many people how we think we have privacy in the digital age when we really dont.

Yes, centralized exchanges are garbage dumps for people who give up their private rights without thinking. But its not just about them; its also about the way Bitcoin works. Its about putting institutions to the test, spreading power out, and taking power back from centralized organizations. If you dont see how this fits into the bigger picture, you might not be ready for this change.

In the beginning days of Bitcoin, those in authorities were then so afraid that this new form of currency can be utilized by all the illegal activities around most especially drugs and similar transactions since the parties involved in the transactions are not named unlike when you do a banking transfer where records can easily be retrieved by the portal owner. Later on, we realized that Bitcoin transactions are not really 100% antonymous since we can now mine data and see who can possibly be the owners of the wallet address used by the transactions and the record of transaction will always stay in the blockchain for anyone to see.  In case, one is looking for a 100% anonymity, then one has to use privacy coin and not Bitcoin.

I remembered the documentary regarding Jimmy Zhong with this one. He posted is address, and that's the main reason he got traced by the authorities thus, getting arrested.

Bitcoin doesn't really provide full anonymity at first already because you can still track the transactions thru blockchain. It isn't like those privacy coins out there that you can't really track the transaction that are being done. Your identity will not be known if you will not put your Bitcoin address online, or at least kept your personal info.

Bitcoin isn't intended to be anonymous, and it has never been, and I guess it will never be because it can be easily tracked thru the blockchain. On the other hand, if you didn't post your Bitcoin address online, then I guess you can keep yourself anonymous since nobody knows you.

BTC transactions are pseudonymous, that is a correct fact because the blockchain is a public ledger and all transactions can be viewed, and you don't have to doxx yourself for your identity to be revealed through the details of your transactions in the blockchain, all you need do is to use your funds on a centralized exchange or service where you have to register with your ID before using. If you do that, blockchain analysis experts will be able to trace your coins to you if they are really looking for you.

Take note that Satoshi never spent his coins, never did he register with his real identity on any centralized service, so even if we all can see some of his addresses from the blocks he mined, they have no details that link to Satoshi's identity, just an address with a balance. This is why bitcoiners are advised to use decentralized or p2p exchanges to keep their anonymity, or they use CoinJoin services to protect their privacy.

People confuse the word privacy with the word anonymous.

If you connect your real life identity to your Bitcoin wallet address then obviously someone will know who that address belongs to. And by someone I mean any centralised platform under control of an entity (who has to follow whatever regulations the government tells them to follow). In most common cases this means cryptocurrency exchanges which have your kyc.

Bitcoin was never meant to be anonymous. Criminals who want anonymous money, use paper cash.

Bitcoin is private. Which means no third party can take it away from you without your permission. Not even the government.

Traceable but as long as you don't go out of your own way to doxx yourself you're practically anonymous. Granted IP addresses are a thing and you can be tracked through that too but if that was the case you don't need bitcoin for it anymore. Bitcoin could provide full anonymity. Just cause transactions could be traced doesn't necessarily mean that you could track who the person is, and that is the primary ground that you need to fulfill in order to break the "bitcoin is anonymous" argument.

Imagine if bitcoin was a true "pseudonymous" cryptocurrency as what people are making it out to be. With proper investigation and tracking, you could even find out who Satoshi Nakamoto really is! After all his addresses are open for people to see, right?

Its Pseudonymous on saying about being anonymous on which we know that on the time that you would be touching up exchange platforms then this is where you would really be removing that anonymity but
in overall if you are really that making transactions p2p then there's no way on knowing on whose behind on that said wallet address. This is why it would really vary on such situation or condition that you are
really dealing with. So whats the big issue with this if it doesnt really offer that full anonymity? If you are really that minding about touching privacy coins then Monero or Zcash would be your choice
but if you do really still love on engaging with Bitcoin then its your choice. It is really just that hard not to make use of these exchange platforms specially if we are really that engaging with fiat conversions
and other centralized services which we do know that it is really hard to resist on specially if you are really that needing to make use of it. This is why we do make out those kind of choices.

I think this system will go like this. So KYC on one side and anonymity on the other. Neither will completely destroy the other. I don't think this is a problem.

It is said that Bitcoin does not provide complete anonymity. Whether it is or not, I don't think that's what we should be worried about. It should be questioned why those who have anonymity problems have such a problem.

We invest in Bitcoin because we wanted to have profit not because we wanted to have full control of our money.  It is already given that when you own Bitcoin you get all the feature Bitcoin gives but why are we holding and hoarding it?  If we want to make use of the Bitcoin feature then we should have been using it for our transaction not holding it waiting for the price to uptrend and sell at our target price.


As long as we do not connect the wallet address to the centralized services that have our identity, it would be hard to track who owns that BTC.  Of course, mixing services give more privacy and anonymity and make tracking way harder than normal transactions.

Bitcoin gurantees Anonymity if you are running a full node. There is no way your private info could be leaked through the system unless you are connected through a centralized system like the typically internet or using things controlled centrally. Lack of gurantee for Anonymity means users true identities can be revealed through the Bitcoin system by hackers, govts etc.
The issue is with centralized system or single point of failure, and this could be fixed by also running the Bitcoin system through decentralized "Internet" or through other systems that guarantee privacy/anonymity with no one in the middle or more powerful entity to violate it. A properly decentralized system means power and control of system are equally distributed to its participants, and the ability to abuse the system by anyone is checked & prevented by everyone

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Don't say Bitcoin is Anonymous... The name/identity which is not hidden is Bitcoin.  Better words to use are "Bitcoin is Anonymity-friendly", "Bitcoin is pro anonymity" , etc.

So, while Bitcoin transactions may not reveal the true identity behind the wallet addresses, they leave breadcrumbs that can be followed by the savvy investigators. It's like a digital detective story where the truth is hidden in the blockchain. So, embrace the pseudonymity, but remember that the dance floor is never truly.

I strongly believe that bitcoin transactions are very much anonymous when there are no third parties involved such as the exchange and in most cases organisations outside exchanges that requires KYC for verification purposes. Transactions can only be comfortably and conveniently traceable when there is a pieces of owners identity as a result of kyc undergone in line with regulations of the third party in question. These makes bitcoin holders vulnerable to identity leakage and counters the sole reasons for which bitcoin was founded.

Most of these happens as a result of government policies given to third parties if they must operate within their jurisdiction which makes them handicapped and left with no choice forcing their members to undergo kyc and their information stored on their data base which makes it easier for them to trace transactions and know owners of bitcoin assets.

For transaction matters not really since every transaction you made has been record on blockchain so provably you cannot rely if you want to be anonymous with this coin. But eventhough with that it doesn't give any problem to its users since even by now mang people use bitcoin in anything they want. If they are worried about their traceability they can use mixers to wash their transactions.

The OP argument is indeed not wrong. Because the anonymity that exists in bitcoin is not always absolute or absolute. But does it hurt investors in bitcoin? and does it hurt investors in bitcoin? in my opinion of course not.
Because bitcoin really can be owned with an anonymous identity. Like pseudonyms created for wallets, and like pseudonyms used to buy bitcoins on crypto exchanges. Although, transactions made in bitcoin are public and it is possible for these transactions to be traced or tracked by other people. But back again, most investors in bitcoin, I'm sure most of them must have an anonymous wallet name or email name. So even though transactions in bitcoin can be tracked by anyone, even so, it's not certain that real identities can be found out. Because all identities associated with bitcoin, using anonymous personal data

So in conclusion, even though bitcoin does not have a very absolute anonymity system, in my opinion this is enough to be able to protect the identity of every investor in bitcoin. And most importantly, it doesn't harm investors in bitcoin and it doesn't disturb the comfort of investors in bitcoin. So in my opinion, the issue of anonymity discussion related to bitcoin does not need to be debated at length. Because there are also people who think that bitcoin doesn't always have to be anonymous, so everyone must have different thoughts about this, even though the majority of investors in bitcoin, do say that bitcoin users must be anonymous.

But you could use many thing that will increase your privacy level, so it will not make you have no privacy when use Bitcoin.

The first task is avoid any centralized exchange or P2P that will ask KYC, use no KYC P2P e.g. robosats, agoradesk etc or decentralized exchange e.g. Bisq.

Second, use a non custodial wallet, run full node and use Tor to access it, no one will know your IP address.

Third, use Bitcoin mixer that will able to mix your coins and no one can link your old address with your new address.

Bitcoin was never created to be anonymous in mind, there are some facts that shows that Bitcoin is far from been anonymous.

Bitcoin has a public address that can always be tracked back to an ip address or even to any exchange account, if the investigation is to be carried out properly, an identity will be unveiled.

Let's also not forget that buying Bitcoin isn't anonymous too, those exchanges where you swap your Fiat to Bitcoin all requires some kind of verification, such as driver's license or national identity cards.

Pseudonymous is the right calling word for Bitcoin instead of anonymous.

The right word to use should be pseudonymous and not anonymous. The Bitcoin system is transparent and anybody can have access to check your transactions and how much you are worth if your address is known. That's why it is important to do everything possible to avoid revealing your identity to untrusted individuals or organizations. If possible avoid exchanges and other crypto services that asked for KYC. Total anonymity in Bitcoin transactions is complicated but mixers can be of good help. They will help to make the tracing of transactions more complicated for individuals and the government. But we also have roles to play to maintain our privacy.

and it cannot be denied, we still need CEX to exchange it for Fiat or P2P services which require using an account to send the Fiat, 100% privacy is still not possible.
Some CEX and Bitcoin exchange services that read IP and require KYC are subject only to the system that governs them.

Like CEX which must comply with the government, so the data will be owned by the government.
Full anonymity is still not possible if you and I still need Fiat.