"Mixing sites" are a replica of the traditional banking system, they do not provide any privacy whatsoever.
Mixing sites do not ask me for my ID when I want to receive my balance or start a mixing session.
Topic: Can Bitcoin Achieve Privacy While Maintaining Transparency? (Read 171 times)
Mixing sites do not ask me for my ID when I want to receive my balance or start a mixing session.
anyone saying it is private to the point that it will be indeed 100% private is only deceiving you.
You can not have full privacy with a public blockchain but you can achieve it partially if you use your UTXOs privately and with two big supporting things, a Bitcoin full node and a Tor connection.
If you're so confident, then prove it by tracing my coinjoin transaction. I publicly made two payments to bc1pcgtqlmw47skw9qn7q3m98pht20mmxzhv70n4j5ng9l74tyz8kn3qmwhn85 and bc1qlcj0fqsjn5g2qujldara6ax73rfv8uqlg8trvg - can you determine which other addresses belong to me?
Who am I to solve your puzzle and even if I am tech-savvy who is good at my job, what if my level is not as high compared to others? So what you know, you know and what you don't know, you don't know.
That puzzle is better directed to the US government and others that have caught some high-level crypto frauds and also gives details of the senders, the mixers/blenders and the receivers.
Bitcoin is already transparent because of its blockchain, where anyone can check transactions as long as they have the address information. Being decentralized is 100% proof of its transparency.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
Yep.
Of course there are some that would choose Monero to Bitcoin for their transactions are private by default - whereas in BTC, they are pseudonymous but traceable. But I do think it's only the case when you really, reallyyy want to obscure who sent what and to who.
Bitcoin's transparency ensures security but it can expose transaction history. To protect my privacy, i can use coinjoin to mix my transactions w others which makes it harder to trace. Using tor or a vpn to mask my IP address adds another layer of privacy. Achieving full privacy is challenging due to bitcoin's transaprent ledger, these tools help keep my financial activity more private and with future innovations, privacy could improve even more
Bitcoin is already transparent because of its blockchain, where anyone can check transactions as long as they have the address information. Being decentralized is 100% proof of its transparency.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
Transparency isn’t even only about checking the balance of your address transparency in bitcoin reaches to the point where everyone is entitled to be a node runner or miner, transparency in bitcoin is when transactions cannot be filtered or rather censored by certain chains thereby giving others transactions priority and declining others. Transparency is when there is no special validators or decision makers everyone who runs a node has equal rights.
As for privacy bitcoin is not anonymous from onset but rather pseudonymous which means bitcoin can be either anonymous or not depending on how you use it, there are many different ways of using bitcoin privately without even using mixers example is using different or new address for different or new transactions, running your own node or protecting your IP by using TOR or VPN
Bitcoin is already transparent because of its blockchain, where anyone can check transactions as long as they have the address information. Being decentralized is 100% proof of its transparency.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
As for privacy, it’s still achievable if you use your own non-custodial wallet. You only lose privacy when you comply with KYC requirements. So, sticking to non-custodial wallets keeps you in control.
Thanks, got that, and to contribute to what you guys already mentioned, there is a big difference between the mixer and to Bank because Banks keep history and comply with regulations, while the mixer doesn't keep any record of its users', anyway what we all seek for is privacy and for sure at this point, we are not getting that with the current system unless we allow for free flow of some decentralized system, such as privacy oriented e.g Bitcoin mixers, although is come with own risk when if the government is anti-Bitcoin, like in the case of mixers promotions here in the forum, Trump is here let hope we get some more privacy since the government won't be anti Bitcoin.
"Mixing sites" also keep history and also comply with regulations. There's literally no difference between a "mixing site" and a traditional bank:
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It is true that mixers are also important in having privacy.
"Mixing sites" are a replica of the traditional banking system, they do not provide any privacy whatsoever.
When I used them, they are not taking more than some minutes to process the transaction unless you put it in a more way for the transaction to be more difficult to be traced by increasing the hours for the transaction to be processed. This is different from banks.
^ What you just described is the exact definition of banking: Banks hold money for their customers.
There is a type of private bank called a "Chaumian ecash mint" that uses blind signatures to provide an anonymity set for customers who can transfer tokens to other mint customers without the mint being able to track them. "Mixing sites" do not use these blind signatures, so their customers do not gain any privacy. This is why "mixing sites" are identical to the traditional banking system.
If mixers are a replica of the traditional banks, the government will not be against them.
A "bank" is someone who holds the money of customers. Whether or not a government is against banking doesn't change what a bank is.
Bitcoin's transparency is one of its most powerful features but it also raises concerns about privacy. As blockchain analysis tools become more sophisticated, how can bitcoin users maintain their financial privacy? Are there ways to improve privacy on the bitcoin network or is it inherently incompatible with the goal of full transparency? Let's discuss the balance between privacy and transparency and whether bitcoin can ever achieve both.
Buddy if you are talking about the public ledger presence of Bitcoin making it impossible to achieve privacy even though this public ledger gives explanation for the transparency concerns you are on the wrong node even though it's fully transparent with the transactions those transactions are not revealing your identity directly unless or until someone knows about your public address, in order to maintain your privacy you need to take some precautions the first one is avoiding the use of centralized platforms for services as they require KYC for the AML policy.
Secondly, you have some alternatives to achieve privacy like mixing (not recommended as per forum rules), and Own node some others already discussed above.
If mixers are a replica of the traditional banks, the government will not be against them.
A "bank" is someone who holds the money of customers. Whether or not a government is against banking doesn't change what a bank is.
It is true that mixers are also important in having privacy.
"Mixing sites" are a replica of the traditional banking system, they do not provide any privacy whatsoever.
It is true that mixers are also important in having privacy.
"Mixing sites" are a replica of the traditional banking system, they do not provide any privacy whatsoever.
It is true that mixers are also important in having privacy.
Coin control, really this is the first time hearing this, can you please share more lights on what coin control is thanks.
You can see coin control on many bitcoin wallets like Electrum, Bluewallet and others. It makes people spend from desire UTXOs. This is because when sending coins, for addresses not to connect together. anyone saying it is private to the point that it will be indeed 100% private is only deceiving you.
You can not have full privacy with a public blockchain but you can achieve it partially if you use your UTXOs privately and with two big supporting things, a Bitcoin full node and a Tor connection.
If you're so confident, then prove it by tracing my coinjoin transaction. I publicly made two payments to bc1pcgtqlmw47skw9qn7q3m98pht20mmxzhv70n4j5ng9l74tyz8kn3qmwhn85 and bc1qlcj0fqsjn5g2qujldara6ax73rfv8uqlg8trvg - can you determine which other addresses belong to me?
It is secure, but not as private as some think it is - surely. As I remember, it can be called pseudo-anonymous.
Monero exists and is banned in many places for a reason!
Monero exists and is banned in many places for a reason!
No one in the Monero community has been able to trace my Bitcoin transaction: https://x.com/Kruwed/status/1872259314272084230
Bitcoin's transparency is one of its most powerful features but it also raises concerns about privacy. As blockchain analysis tools become more sophisticated, how can bitcoin users maintain their financial privacy? Are there ways to improve privacy on the bitcoin network or is it inherently incompatible with the goal of full transparency?
Bitcoin is a public blockchain and its public ledger can be traced by everyone through Bitcoin full node or Bitcoin block explorers.You can not have full privacy with a public blockchain but you can achieve it partially if you use your UTXOs privately and with two big supporting things, a Bitcoin full node and a Tor connection.
Use change address, don't merge all UTXOs because it breaks your privacy. Use Bitcoin full node to broadcast your transaction by your own node, and use Tor to hide you IP address.
Bitcoin privacy guide.
Buying and Using Bitcoin Anonymously / Without ID.
Getting Bitcoin privately.
Bitcoin's transparency is one of its most powerful features but it also raises concerns about privacy. As blockchain analysis tools become more sophisticated, how can bitcoin users maintain their financial privacy? Are there ways to improve privacy on the bitcoin network or is it inherently incompatible with the goal of full transparency? Let's discuss the balance between privacy and transparency and whether bitcoin can ever achieve both.
Bitcoin has always been appreciated for its transparency and privacy. It, of course, preserves that until the advanced tools of researchers and investigators prove otherwise. It is not as anonymous and private as we think, this is evident in how the government could be able to decipher some tough-to-unveil cases even with well-planned thefts, hacking and mixing/blending. Let us continue to use Bitcoin legitimately, anyone saying it is private to the point that it will be indeed 100% private is only deceiving you.It is secure, but not as private as some think it is - surely. As I remember, it can be called pseudo-anonymous.
Monero exists and is banned in many places for a reason!
Bitcoin's transparency is one of its most powerful features but it also raises concerns about privacy. As blockchain analysis tools become more sophisticated, how can bitcoin users maintain their financial privacy? Are there ways to improve privacy on the bitcoin network or is it inherently incompatible with the goal of full transparency? Let's discuss the balance between privacy and transparency and whether bitcoin can ever achieve both.
Bitcoin has always been appreciated for its transparency and privacy. It, of course, preserves that until the advanced tools of researchers and investigators prove otherwise. It is not as anonymous and private as we think, this is evident in how the government could be able to decipher some tough-to-unveil cases even with well-planned thefts, hacking and mixing/blending. Let us continue to use Bitcoin legitimately, anyone saying it is private to the point that it will be indeed 100% private is only deceiving you. Coin control, really this is the first time hearing this, can you please share more lights on what coin control is thanks.
Every transaction you receive and most transactions you send creates a unique coin (unspent transaction output, or UTXO) in your wallet. The sender or receiver of the transaction that created that coin can watch the blockchain and track where and how you spend it next.
Coin control is the process of deciding which of your transactions you lose privacy on once you spend your coins. This requires you keep track of which coins in your wallets have been tracked by which entities. This is why Wasabi Wallet designed coinjoins to make your coins completely untraceable so you don't have to do sacrifice any privacy for any of your transactions.
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