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. 
Topic: Can Bitcoin Achieve Privacy While Maintaining Transparency? - page 2. (Read 197 times)
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.
Run your own node and make sure you run it with Tor.
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Another thing that is important is to learn how to use coin control.
Coin control, really this is the first time hearing this, can you please share more lights on what coin control is thanks. 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.
Yes, you can become completely untraceable on Bitcoin by participating in a coinjoin transaction: https://mempool.space/tx/4c10c6853845384ca798b21ae1b7d0b6e954a9f87455a11f6baa05edc857aa24
Coinjoins let users hide input to input links, input to output links, and output to output links.
I think bitcoin's privacy could be improved but it's tough to do w/out losing its transparency. Too much privacy might reduce the transparency that makes bitcoin secure.
What exactly would you want to be improved in the privacy of BTC?
I feel like we’ve fallen further into mainstream finance & everything that comes with it than is desirable. Having to KYC & provide paper traces a mile long to buy a home or something is not what Bitcoin was designed for. This is the trade off though, the price is so high now because Bitcoin is more mainstream now. For those who enjoy privacy, you can use Bisq & run your own node.
I think bitcoin's privacy could be improved but it's tough to do w/out losing its transparency. Too much privacy might reduce the transparency that makes bitcoin secure.
Yes, privacy is possible.
Run your own node and make sure you run it with Tor.
If you can not run your own node, you can have different wallets on the same and different devices. But make sure you are rerouting the Tor connection each time you are connecting to each wallet if you are using the same device. Know that the central server will still know you but will be unable to link your different wallets. There could be a mistake. Running your own node is still the best option.
Another thing that is important is to learn how to use coin control.
Run your own node and make sure you run it with Tor.
If you can not run your own node, you can have different wallets on the same and different devices. But make sure you are rerouting the Tor connection each time you are connecting to each wallet if you are using the same device. Know that the central server will still know you but will be unable to link your different wallets. There could be a mistake. Running your own node is still the best option.
Another thing that is important is to learn how to use coin control.
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.
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