Topic: Check twice before sending transaction if it will impact your privacy negatively (Read 140 times)

I cannot stress this enough. It is of the utmost importance to completely segregate your KYC bitcoin and your private bitcoin. I will publish an article on this soon because this has been an issue that has been heavy on my mind ever since the Samourai takedown.

Before taking the decision to make a particular transaction, the issue of privacy would have already been decided. At the point of sending transaction, what is most checked is the receiving address, the amount being sent and every other necessary details bearing in mind that when the transaction is sent, funds cannot be reversed upon network confirmation.

I wouldn't want us to dwell so much on the issue of privacy as far as Bitcoin is concerned because it is just a matter of time before privacy is completely defeated, the process is in top gear so we have to make the necessary adjustments.

What you are saying is correct and it is not that easy to wipe out the Bitcoin addresses in the forum. The only solution that comes to my mind is to either use different Bitcoin addresses for every new campaign or convert Bitcoin to Monero on a trusted P2P platform and then again swap Monero to Bitcoin in another P2P platform. For example, sending Bitcoin to Bisq and then converting them to Monero, sending Monero to localMonero or any other exchange then again converting Monero to Bitcoin. It will cost some Bitcoin for buying and selling but it is the best option available as of now. 

And it's not only that.

Even you didn't combine your coins from two address, if you didn't mask your IP address, your connection can be leaked. Especially you're use SPV wallet. you're connected to someone else node instead of using your own node.

It's more that than, we didn't even talk about Windows or MacOs that might spy your activity in your device...

It's okay to post your throwaway wallet's address to the public for example to get payments for the signature campaign and to maintain your privacy the further part is important and where you store your address, I move the funds most of the time to a fresh generated address which could keep my privacy intact.

For the record, we are moving further from having complete privacy on our BTC holdings, mandatory KYC to use every crypto-related platform and regulators hammering the services that offer services related to privacy. and the story keeps on growing.

Wallets are bigger than addresses and one wallet can have many addresses.

If you use new address in a same wallet, it can be connected with each other.

A better practice will be use a new wallet for a new business and new purpose. Don't use one wallet for many business transactions.

https://blockchair.com/bitcoin/privacy-o-meter

Which is why I recommend using Electrum, where you have several bitcoin addresses you can use for different transactions. It’s not easy to maintain privacy in today’s world, I think it’s also noteworthy to add that using block explorers can reduce your privacy. When you repeatedly search a wallet address on an explorer, they can easily figure that the addresses belong to you. Make sure to use TOR when using block explorers.

I’m confused here. When you say private coins, do you mean coins like monero and dash? Or simply coins that haven’t been linked to your identity?

As a Bitcoin user, it's wise to know the difference between a cold and hot wallet and also the importance of those two wallets. If a Bitcoiner is privacy conscious, he or she will only make use of their hot wallet for regular transactions like those connected to this forum, other frequent social media payments, and other regular activities that require the individual to spend some Bitcoin. But the cold wallet is specifically for holding some bitcoin without intending to spend it in the short term. 

Privacy is quite important in the Bitcoin space. 

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Well, I think this is not new for Bitcoiners. As a Bitcoiner, whether new or old, the first thing to know is that any Bitcoiner transaction that has been sent cannot be cancelled. 

The safest way, which I believe is what most people do here in the forum, is to use either one address for the signature campaign or a different address for it. As long as it's public, anyone can assess it, so it will be very unwise for anyone to make use of their main address, which contains their holdings aside from what they earn on this forum. It's way safer that way, as long as the person also doesn't link it by making transactions often with their other address, which has not been registered here.

He was just pointing to privacy which is a good way to prevent someone from tracking our Bitcoin but the problem is all addresses that we use in the signature campaign are always public there's no way right now to make our BTC private because we already posted our BTC address here on the forum and all transaction are recorded on the blockchain even we keep changing our BTC to any signature campaign it's still public unless if we sent the BTC to other address which they don't know if we own that address where it sent to.

Whenever I read about this, I consider that most of us on this forum are guilty of this. We use the same addresses when applying for signature campaign and also our bitcoin addresses has been public. Also, it will make no sense to keep changing bitcoin addresses every other week by sending a PM to the signature campaign manager. What do you say about this. We are vulnerable and exposed.

Simple task, crucial for maintaining privacy:

Certain transactions from one of our addresses to another of our addresses might reveal address connections, possible to track via Blockchain analysis for everyone. As we know, Bitcoin's Blockchain is a public ledger.
Sending a transaction from one of our addresses to another will cause a connection, not limited if it’s our own address or an address from someone else.
It’s inevitable.

Check twice, if your address, where you are planning to send BTC to, was used previously and if you can afford to have an additional connection to certain addresses.

Such connections might affect your privacy negatively for following cases but not limited to:


Used addresses for previous business

Your address where you are planning to send coins to has been used for previous business, where your business partner can track all additional transactions. Always check twice, if your address has been used for previous business and for what business exactly. To keep your privacy, never use and mix addresses from previous business


Address has been public

Your address where you are planning to send coins to has been posted publicly on an internet site. If your address where you are planning to send coins to has been posted publicly on an internet site, you need to consider your privacy to be somehow compromised and affected negatively, as more conclusions about your transactions can be drawn publicly, for example tied to a social media account or your Bitcointalk account.


Don’t mix KYCed and private coins

You are going to mix KYCed coins, possible compromising your privacy. Every time, your private coins and your KYCed coins are mixed, more can be found out what you have done before for your private coins as such coins are now also tied to your real information. Always be careful when mixing your private and your KYCed coins.


For every additional transaction on one address, more conclusions about you, as owner, can be drawn. Always consider to have a new address instead of address re-use.


Keep in mind: Bitcoin transactions are not reversible. Never. Once you've done a transaction and it’s included in a block, transactions are not reversible anymore.
Afterwards, you might regret doing a transaction because you might notice it's compromising your privacy.
Check twice before sending a transaction if it’s going to impact your privacy negatively!
If in doubt, better take measure to prevent unwanted linking of your addresses and coins to maintain your privacy!


PrivacyOui