Crypto Currencies Privacy | Bitcointalksearch.org

ningrum

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Quote from: BitDane on October 07, 2022, 04:38:53 PM

Anonymity and privacy online should really be valued but you cannot push your stance of not submitting your personal information if the government abiding CEX and legit platforms asked you to submit KYC if you are using the platform and have your funds in it.

Anyone can keep their own privacy easily but again this all actually depends on so many factors that can makes privacy can be valued or not. People were talking about the privacy and anonymity but they were actively using centralized exchange site that was forcing the users to complete KYC verification and what's the difference? I meant that's the point.

KYC verification for exchange I think there is no problem if the exchange is verified in the country,
but if not then it can be dangerous, especially if a project asks for KYC I think you should avoid it,
because we can't avoid it then we ourselves have to be careful Be careful to be able to maintain own privacy.

merekamo

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Concept of anonymous in crypto is the technologies underlying crypto are decentralized, meaning that they are not owned or controlled by any one group or individual. This means open and free to anyone who wants to use them.

I'am against the idea that crypto should be regulated through KYC/AML laws, or that crypto should be used to track criminals because it always causes innocent people to get hurt.

So, In simple word when people think of cryptocurrency, they tend to think of a store of value or a means of exchange. Even those who might not understand how it works or how it can benefit them.

TheGreatPython

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Quote from: Editbar on October 07, 2022, 12:17:20 PM

there are a lot of people in crypto now who don't understand the importance of censorship resistance and who don't care that crypto should be for everyone they think criminals should be punished they think that they should be sacrificing their privacy and everyone's privacy for the sake of trying to punish criminals exist everywhere.

The War of crypto has begun um so in my opinion I think anonymity and privacy online should be highly valued and practised by anyone to the best of ability who is interacting with cryptocurrencies.

You are right and that's because most of them focus only on the earning part of crypto in which they buy, hodl and sell. Those who care about privacy are the people who use crypto as a currency. Crypto is for everyone but not for the criminals because they will only use their crypto for wrong doings and this can affect the reputation of crypto.

Every crypto users don't want that to happen but if it's inevitable then we should only watch out for the criminals and punished them accordingly to what or how big the damage they have dealt. We can do this without the need of sacrificing our privacy but even if we do, then it's not a big deal at all because we know that we did it on purpose.

Xal0lex

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Quote from: Silberman on October 10, 2022, 09:06:52 PM

Quote from: Xal0lex on October 10, 2022, 02:50:20 PM

Quote from: Ozero on October 09, 2022, 03:18:33 PM

Quote from: Xal0lex on October 07, 2022, 03:06:22 PM

It doesn't work that way, you'll have to choose one thing. If you want privacy for all crypto-users, welcome to the underground. Unrecognized coins, use only on the darknet or among themselves, low prices, low distribution, but all private and anonymous.

If you want adopsion, distribution of cryptocurrencies, high prices, widespread use and the ability to pay with cryptocurrency in many services and stores, then welcome to regulated space, where there will be AML, where there will be KYC, where there will be oversight and regulation. You can't combine anonymity and ubiquitous use, it's too utopian a vision, alas.

You are correct in this reasoning. A high degree of anonymity is very attractive to hackers and various scammers. Anonymity significantly increases the risks in the cryptocurrency market. Therefore, reasonable regulation of cryptocurrencies by states is necessary and useful.
On the other hand, states cannot allow significant amounts of money to circulate on their territory that they cannot control. Therefore, cryptocurrencies will eventually either be regulated or banned.

The cryptocurrency industry is in a very bad place. On the one hand, in order to continue to integrate into the lives of most people and traditional finance, it needs regulation and a regulatory framework. On the other hand, the basic principles of cryptocurrencies are built on decentralization, absence of third parties and freedom from governments, regulators, bankers, etc. Is there a middle ground in the further development of cryptocurrencies, I think not. Cryptocurrencies will be completely absorbed by regulators and governments, and there will be no trace of the true principles of cryptocurrencies.

This is without doubt the biggest risk for true decentralized coins, the only way to avoid this fate is that before this market is fully absorbed by governments and banks that people realized as a whole that a system that is so centralized is a risk to their financial well being, however such a thing cannot be achieved by trying to teach people about why decentralization is better, what we need is a collapse of the current system and a crisis so large that people wake up and begin to look for answers about why they lost so much of their wealth and how to prevent this in the future.

It is unlikely to happen in the foreseeable future. I am not sure it can happen even in this century. In fact, at the moment, there is no decentralization in the cryptocurrency sphere. PoS coins, even from the DeFi category, they are all centralized. The control tokens in such systems have a completely uneven distribution, otherwise how do you explain the fact that in some protocols 90% of the votes may belong to 1 or more addresses. All this is far from the notion of true decentralization. In cryptocurrency, it also comes down to the principle that the more coins you have, the more influence you have.

Silberman

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Quote from: Xal0lex on October 10, 2022, 02:50:20 PM

Quote from: Ozero on October 09, 2022, 03:18:33 PM

Quote from: Xal0lex on October 07, 2022, 03:06:22 PM

It doesn't work that way, you'll have to choose one thing. If you want privacy for all crypto-users, welcome to the underground. Unrecognized coins, use only on the darknet or among themselves, low prices, low distribution, but all private and anonymous.

If you want adopsion, distribution of cryptocurrencies, high prices, widespread use and the ability to pay with cryptocurrency in many services and stores, then welcome to regulated space, where there will be AML, where there will be KYC, where there will be oversight and regulation. You can't combine anonymity and ubiquitous use, it's too utopian a vision, alas.

You are correct in this reasoning. A high degree of anonymity is very attractive to hackers and various scammers. Anonymity significantly increases the risks in the cryptocurrency market. Therefore, reasonable regulation of cryptocurrencies by states is necessary and useful.
On the other hand, states cannot allow significant amounts of money to circulate on their territory that they cannot control. Therefore, cryptocurrencies will eventually either be regulated or banned.

The cryptocurrency industry is in a very bad place. On the one hand, in order to continue to integrate into the lives of most people and traditional finance, it needs regulation and a regulatory framework. On the other hand, the basic principles of cryptocurrencies are built on decentralization, absence of third parties and freedom from governments, regulators, bankers, etc. Is there a middle ground in the further development of cryptocurrencies, I think not. Cryptocurrencies will be completely absorbed by regulators and governments, and there will be no trace of the true principles of cryptocurrencies.

This is without doubt the biggest risk for true decentralized coins, the only way to avoid this fate is that before this market is fully absorbed by governments and banks that people realized as a whole that a system that is so centralized is a risk to their financial well being, however such a thing cannot be achieved by trying to teach people about why decentralization is better, what we need is a collapse of the current system and a crisis so large that people wake up and begin to look for answers about why they lost so much of their wealth and how to prevent this in the future.

Xal0lex

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Quote from: Ozero on October 09, 2022, 03:18:33 PM

Quote from: Xal0lex on October 07, 2022, 03:06:22 PM

It doesn't work that way, you'll have to choose one thing. If you want privacy for all crypto-users, welcome to the underground. Unrecognized coins, use only on the darknet or among themselves, low prices, low distribution, but all private and anonymous.

If you want adopsion, distribution of cryptocurrencies, high prices, widespread use and the ability to pay with cryptocurrency in many services and stores, then welcome to regulated space, where there will be AML, where there will be KYC, where there will be oversight and regulation. You can't combine anonymity and ubiquitous use, it's too utopian a vision, alas.

You are correct in this reasoning. A high degree of anonymity is very attractive to hackers and various scammers. Anonymity significantly increases the risks in the cryptocurrency market. Therefore, reasonable regulation of cryptocurrencies by states is necessary and useful.
On the other hand, states cannot allow significant amounts of money to circulate on their territory that they cannot control. Therefore, cryptocurrencies will eventually either be regulated or banned.

The cryptocurrency industry is in a very bad place. On the one hand, in order to continue to integrate into the lives of most people and traditional finance, it needs regulation and a regulatory framework. On the other hand, the basic principles of cryptocurrencies are built on decentralization, absence of third parties and freedom from governments, regulators, bankers, etc. Is there a middle ground in the further development of cryptocurrencies, I think not. Cryptocurrencies will be completely absorbed by regulators and governments, and there will be no trace of the true principles of cryptocurrencies.

BIT-BENDER

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Quote from: sunsilk on October 07, 2022, 03:37:18 PM

We value our own privacy but the big businesses/exchanges, we can't do nothing against them if they're implementing such policies. Yeah, there are the other decentralized exchanges where we can trade freely.

But it is that, we have our own preferences and some may say that they don't like it and they're more comfortable using services that compromises their privacy like the usual thing we encounter, KYC.

Well the big exchanges are meant to know what the core values of Crypto-currency which privacy is one of them. In as much as I don't have any criminal reasons for choosing to support privacy, the internet is a wide ecosystem and many people identity they put out during procedures like Kyc verification can find it's way into the wrong hand and who knows what it may be used for.

And funny enough many exchange that has been attacked recently are mostly centralized exchange so not only are they compromising peoples privacy they are actually not secured. I can advise Newbies and inexperience members to adopt using Private wallet in saving your Crypto-currency.

Ozero

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Quote from: Xal0lex on October 07, 2022, 03:06:22 PM

It doesn't work that way, you'll have to choose one thing. If you want privacy for all crypto-users, welcome to the underground. Unrecognized coins, use only on the darknet or among themselves, low prices, low distribution, but all private and anonymous.

If you want adopsion, distribution of cryptocurrencies, high prices, widespread use and the ability to pay with cryptocurrency in many services and stores, then welcome to regulated space, where there will be AML, where there will be KYC, where there will be oversight and regulation. You can't combine anonymity and ubiquitous use, it's too utopian a vision, alas.

You are correct in this reasoning. A high degree of anonymity is very attractive to hackers and various scammers. Anonymity significantly increases the risks in the cryptocurrency market. Therefore, reasonable regulation of cryptocurrencies by states is necessary and useful.
On the other hand, states cannot allow significant amounts of money to circulate on their territory that they cannot control. Therefore, cryptocurrencies will eventually either be regulated or banned.

Eternad

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Quote from: bittraffic on October 07, 2022, 12:30:32 PM

We have not seen a user yet in the forum who personally has crypto frozen in his wallet. If for instance, this happens, we can be assured freezing his tokens is specifically aimed at this user.

Probably, for now, we can only say keeping privacy is just us being too paranoid but if the government actually controls one big major exchange and can dig your data from the exchange, they probably can target each one. Yup too paranoid I guess. Grin

Most of this kind of paranoid guy usually involves on shady transaction that makes them scared on being audit for there finances. I agree your sentiment about this kind of people being paranoid for there crypto since there is no way for your wallet to determine ownership by others unless you are posting it voluntarily in the public so that everyone knows. The government will not do background check on our account if don’t do something wrong against the law.

This paranoid guys make crypto worst since they are making crypto privacy complicated that always results for the law to become stricter and more regulated.

posi

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Quote from: Editbar on October 07, 2022, 12:17:20 PM

there are a lot of people in crypto now who don't understand the importance of censorship resistance and who don't care that crypto should be for everyone they think criminals should be punished they think that they should be sacrificing their privacy and everyone's privacy for the sake of trying to punish criminals exist everywhere.

Simply because people get into crypto their real purpose is not looking for privacy, and anonymity they are looking for profit, they won't care about it as long as they can make a profit and they call it success.

It can be said that very few people care about anonymity and privacy issues, most of them just focus on getting rich. Walking around on forums or social networks you will only see people talking about the price of coins, but very little about the privacy of each coin.

Have to say I agree with Xal0lex's statement, you can't expect ubiquity to come with privacy, that will never happen and which one you choose is up to you.

Quote

You can't combine anonymity and ubiquitous use, it's too utopian a vision, alas.

hugeblack

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The privacy standard should be the basis of financial transactions, but privacy is shocked by the concept of centralization, where there will be one authority that knows what is good and bad, including accepting or freezing the payments of a party, and here we are talking about centralization and centralization, not privacy.
Therefore, the punishment of criminals does not occur except by banning their currencies and not by defining their identities.
In addition, not all currencies that claim to be currencies that maximize the value of privacy are really privacy-based cryptos.

The Cryptovator

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A crypto user's privacy fully depends on the user. Because you have to care about it how will you deal with your cryptocurrency? For example, if you use a centralized exchange then you have already handover your KYC, and privacy has broken. If you using a custodial wallet then same. Your crypto address shouldn't be public anyway. Anyone shouldn't able to trace the use address. You can use a mixer or similar things to protect your privacy. You are the one who can protect.

Jawhead999

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Talking about privacy concern while the @OP rooting for Shiba Inu is really contradict yourself lol.

How it's possible for you to maintain your privacy while Shiba Inu is a centralized garbage shitcoin. This shitcoin isn't listed in decentralized exchange e.g. Bisq, it's only listed on centralized swap platform. Actually @OP already using a centralized service that can track his IP address which is he talking about privacy concern here is totally bullshit.

cryptobadshah

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When it comes to financial transactions, users are especially concerned about privacy Privacy cryptocurrencies are vital for protecting users interests in the denetralised world. They protect user data and make transactions safe Zcash and Dash allow users to shield their transactions giving them control over their data this trust could attract more users to cyrpto institutionally supported privacy enabling cryptocurrency and institutionally mediated private value exchange are two candidate architectures for a privacy enabling electronic value exchange both architectures require designing implementing dployiing and amintaining new technology as well as developing regulatory policy we can only say that keeping privacy is paranoia but if the government controls a major exchange and can access your data they can probably target each one yes paranoid.

Luffygroove

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IMHO, until now, anonymity and privacy have only truly existed in a utopia. As long as governments still want to control their citizens, they will strictly monitor the existence of these projects and take action when needed, just like what happened with Tornado Cash. As we know, cryptocurrency is still controversial in some countries, and they still try to fit in and be able to walk along with the government's policy. We're compromised. I think it's really difficult for an absolutely anonymous and private token or coin to develop in the real world. But, fingers crossed, technology is always developing. We'll see in the future.

Wexnident

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The more adopted the system would be throughout the world, the more it would be under scrutiny, which would inevitably lead to some form of KYC, whether we like it or not. Ofc there are still options where you would have your privacy kept, but there would be different rules inhabiting it so it's really just a matter of what you want to choose.

The more the system is adopted/specialized, the more likely it is that it would be centralized, and vice versa towards simple systems (where you need to do most, if not all of the process/steps).

Silberman

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Quote from: Editbar on October 07, 2022, 12:17:20 PM

there are a lot of people in crypto now who don't understand the importance of censorship resistance and who don't care that crypto should be for everyone they think criminals should be punished they think that they should be sacrificing their privacy and everyone's privacy for the sake of trying to punish criminals exist everywhere.

The War of crypto has begun um so in my opinion I think anonymity and privacy online should be highly valued and practised by anyone to the best of ability who is interacting with cryptocurrencies.

While this would be ideal it is not going to happen, take a look at how people behave today and you will see they post almost all aspects of their lives in social media, basically the concept of privacy and anonymity is slowly being eroded from the minds of most people, and since people do not care about it then it is a mistake to think that somehow this market will be able to resist the regulatory efforts from the governments when people most likely will support them instead.

Dickiy

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Quote from: Editbar on October 07, 2022, 12:17:20 PM

there are a lot of people in crypto now who don't understand the importance of censorship resistance and who don't care that crypto should be for everyone they think criminals should be punished they think that they should be sacrificing their privacy and everyone's privacy for the sake of trying to punish criminals exist everywhere.

The War of crypto has begun um so in my opinion I think anonymity and privacy online should be highly valued and practised by anyone to the best of ability who is interacting with cryptocurrencies.

Avoiding privacy at this time with government regulations that have access to the exchange because they are given permission to operate, of course, ultimately privacy can no longer be maintained. Unless you completely avoid centralized exchanges then how do you actually make money from crypto in a completely private way that is maintained?

Sarah Azhari

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Quote from: Editbar on October 07, 2022, 12:17:20 PM

there are a lot of people in crypto now who don't understand the importance of censorship resistance and who don't care that crypto should be for everyone they think criminals should be punished they think that they should be sacrificing their privacy and everyone's privacy for the sake of trying to punish criminals exist everywhere.

The War of crypto has begun um so in my opinion I think anonymity and privacy online should be highly valued and practised by anyone to the best of ability who is interacting with cryptocurrencies.

I never thought it was a war, anonymity, and privacy is everyone's right so it's not linked to crypto or any kind of privacy product. If we want privacy and anonymity, the government should have implemented it for citizens, don't let us look at other nongovernment products just to want our anonymity and privacy. and after we find it, they shouldn't stop it, because there was they mistaken.

Ihugbogo

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Anonymity is highly respected in the crypto space, so far as am concern unless i no longer have any means of exchanging my crypto to which ever fiat i need other than providing my document for verification, i always keep on avoiding all exchanges and platform that talks about KYC. this crypto of a thing is not just for financial freedom for as well as protecting users privacy why making those cool cash. and the decision for us to protect our privacy is left in our hands.

Topic: Crypto Currencies Privacy (Read 269 times)