Topic: Do you think privacy is important for a beginner? - page 3. (Read 721 times)

Yes why do you think its not important for beginners? They are not only dealing their crypto but rather all their personal important matters so if they deal with scam and their identity got exposed either they will be used for scamming or they might encounter some big financial issue since scammers can penetrate to their bank account or other financial related platforms if those scammers can access those by using his identity. So newbies should consider to be more safety to avoid big problems regarding such risk.

Privacy will never be less important, not now or in the future. It’s always an essential part of our lives. Even if technology takes some part of our privacy, but we will never end up disclosing all our personal details and information. However, if we are not careful enough in providing our KYC, and we keep on giving KYC information even to those unsecured sites, then expect that we will end up being scammed. Not only your identity will be steal,  but as well as your money and crypto assets as well.

Why will opinions on privacy differ among people? There is a tendency for exchanges to sell our details to any third-party company or give our information to the government if they ask, so people who are aware of this risk will never disclose their personal information to exchanges. This poses a risk for people who live in nations where bitcoin is illegal because, if the government learns of it, crypto users who provide their information to exchanges risk being punished for breaking the laws of their country.

Yes, privacy is incredibly important for new users but I also understand that privacy is on a spectrum and it takes time. If we are all doing our part to send all of the new users to the best and most private tools right from the start, then we all gain privacy as a network over time. Simple things like using an HD wallet are already obvious and largely adopted across the industry but I think the biggest choke points are KYC and people not running their own node.

I know a number of people who buy privately on HodlHodl or Agora desk but they don't run their own node so who even knows who they are just randomly sending all of their address/tx data off to without even realizing it.

I wrote an article on how to use bitcoin anonymously and I have come to the conclusion that running your own node needs to be the first thing that you do to preserve your privacy. If you don't, then you're giving all of your address info away to someone for free. If that node is a chain anal company, then it's game over for your privacy. The best I can do for the new users is to get them on to Blue wallet at first and then slowly onboard them into running their own node and then moving to Sparrow wallet so they can use coin control, CoinJoin, and connect to their own node.

It's definitely an uphill battle but it's worth it and super gratifying when a new users gets their own node up and running.

Yes, privacy depends on personal beliefs or decisions but the world we're living in today has made privacy a must-priority service for everyone especially people who are into cryptocurrency.

Yes, and the major concept of privacy is to promote security and prevent vulnerability to prying eyes but it is the people who are into bad things that use it to their own advantage.

It depends on the individual whether or not they want to be more privacy-centric with their affairs. And from what I have come to understand is that its not everyone who do bad things that want privacy. Sometimes, we just want to do our thing without prying eyes especially when it comes to financial transactions. It also depends on the situation. Sometimes, things are better left in private because if its out in the public, the damage level significantly increases.

I think this is why NDA are signed in professional settings but it can also span to personal matters as well.

Op first of all I want to ask you about what is the degree of privacy in your terminology because everyone takes different means of privacy in his zone. As for me, privacy is I'm a student I don't own millions of Bitcoins which I need to protect from external tracking and attacks, so for me, privacy is like an unessential additional layer. I'm not saying privacy is not important but in my zone from my view which I think everyone needs privacy for some reasons and close to me biggest reason is funds protection which I don't own (In a big quantity).

For my document protection and personal details, I'm sensitive I do not support any type of platform asking for your KYC or documentation to use the services, in call for / Necessitation things can have a little compromise but avoiding it is better solution.

Well this is for the crypto world of you can financial world, in the reality on the internet privacy doesn't exist, let me explain to the common person who is on social media, who use tiktok and things like that nothing is private on social life, in his private life he can have some life secrets and privacy but we are talking about the social world.. Privacy is a myth for a common person and he made it by himself.

A very sharp and hard-line is if a person wants privacy right after being on social media He's a fool... Why he is on social media if he wants nobody to know about him and his life?

Agree. To create bank accounts and to register on top CEX, both are needed our privacy data. Although we are aware that it is very risky, we have no choice because it is the requirement. Not everything can be fulfilled by a decentralized service like DEX, we still need centralized services such as CEX and banks. So, it seems still impossible to keep privacy data totally.

It is because they don't really understand about the risks. Or they just hurry to join CEXs because they want to earn money as soon as possible. Newbie has a lack of knowledge, we can understand if they seem careless to keep their secret data.

You want to convey that there is no need to publish things that should be kept secret to the public. Nice response. It should need to be taken care of by people out there who have such a habit.
It needs to be acknowledged that there are things that we cannot avoid from handing over identity, as long as it is not related to wealth which can bring danger, it doesn't seem to be a problem.

If they don't know how to hide assets ^{not to avoid government taxes} so they don't become known, there can still be a solution if rich people are willing to learn, including learning to use mixer services.
The problem is sharing wealth with the public by posting on various types of social media platforms just because they want to be recognized that they have many assets. Therein lies the danger.

The wealth that hackers know is the wealth that has been published by the owner himself, so this is certainly not done by every individual at this time. Especially for those who have seen crimes that happen to other people and they definitely don't want this to happen to the assets they already have. So this is the point of applying maximum privacy to the assets we already have.

Rich people who still don't know about mixer services that they can use as a solution are probably still very many. But besides they don't know how to use it, there is some truth in what you said that they may still be afraid to use mixer services because of bad claims from a small number of people. Even though it has become a solution for them, because now there are very many rich people in this world.

Privacy must always be prioritized as much as possible to secure from all actions that can lead to the greatest risks such as crimes that often occur because hackers know the wealth owned by each individual.
Luckily for individuals who are still able to maintain their identity or privacy, including securing it through a mixer.

Regarding the small number of rich people we discussed who are willing to enter, there is a possibility that they don't know there is a mixer service that can be a solution for hiding user identities. Another possibility is that they are afraid of negative claims made by FUD against mixer services.

Normal people need privacy, whatever it is, our real life and cryptocurrency.

but I feel it's difficult to implement if all things still need KYC. Everything in this world still needs fiat to exchange our necessities, just a few needs we can exchange with Bitcoin. So that situation, we still need fiat where we can't get it on DEX. According whit this, I often see people who buy KYC and bank accounts just to hide their real identity to register CEX.

About beginners, I rarely see them care about privacy. I know that because I see them in droves registered in CEX just to buy and sell crypto with fiat.

Op are you a new member to the society or to the world? These are not new things to us. From the onset banking system was doing all those things so they are not new to me, KYC is from the beginning  and it is bitcoin and other cryptocurrencies that is even bringing this anonymity to the digital space. Because the creator of bitcoin believe in personal privacy and because he knew that bitcoin will be use by a large number of people and the government will go against the use of it and anyone who disobey the government policies in bitcoin will be persecuted so to avoid all that, he make it anonymous and privacy.

And bitcoin is not control by any individuals, and everyone control their wallets with the portfolio. So any other project asking for kyc is not control by the owner but by others and they can lock your funds, stop you from withdrawing. Government is trying to force KYC to all the things in the internet but they can't do that to bitcoin.

Everyone must have believed in the importance of privacy since he preferred to use crypto in the first place. Unfortunately, however, this principle is partially or completely abandoned when dealing with all licensed service platforms specialized in crypto.
This is because it is not possible to define all uses in a manner consistent with privacy in a global system based on centralization and the limited financial freedom of individuals. Perhaps this explains all the restrictions that service platforms impose on users, who are in turn subject to similar restrictions imposed on them by the state or the authorities that granted them activity licenses.

Keeping privacy safe is the right of every individual, of course, including maintaining the confidentiality of income, expenses, investments, debts and assets and so on. Of course every individual is different, but in crypto privacy is important. Although everyone's risk tolerance is different, if you don't care about privacy and show off too much, it will attract the attention of many people, which is likely to harm yourself.

In fact I firmly believe that we all should not post anything highly sensitive in this forum because in reality your privacy will not be guaranteed to be safe. So the best advice is not to post anything about your personal information and data on forums because forums are not really capable of protecting your privacy even though many of us talk about privacy. So the bottom line is your privacy is your responsibility to protect it.

Privacy shouldn't be a subject of debate because everyone is meant to take their privacy very seriously, it's because of lack of privacy and transparency that the idea of Bitcoin was convinced. For anyone not taking their privacy very seriously that's on them and provided they're not putting others privacy at risk then they're free to do as the pleased. We still have many methods that we can use to keep staying anonymous when we're carryout transactions and it's not mandated to use those exchanges that demand we complete KYC before we can make use of their exchanges.

We still have Peer2Peer platforms that offers opportunity to keep our identity safed while exchanging our bitcoin or other coins to fiats or vice versa. As a newbie one of the things you should pick interest in as you have already involved yourself in the industry is privacy. When your prioritize privacy it'll help you not only stay out of unnecessary problem but also hide your wealth profile and avoid you been a target to scammers, hackers or probably some people that would want to extort money from your hands either through kidnapping or other illegal ways. Privacy is essential not only for your safety but for that of your wealth as well.

Privacy is an important and fundamental thing after all. Keeping our privacy safe is what most of us here always prioritize. But it's a fact, sometimes we can't keep our privacy completely private 100% in certain places. Especially indeed on centralized exchanges which require KYC. Even though they state that our privacy is safe with them, is that true? Nothing guarantees 100% it is safe. But on the other hand, sometimes we have no other way, buying and selling, especially when we want to cash out via P2P, sometimes we are not so sure of someone's reputation. Well, what is certain, however, is that we have to optimize maintaining our privacy not only for security but also for our own convenience. And guard our privacy and the assets we have to avoid things that we don't want. Avoid posting on social media the various crypto assets that we have today, this is also very dangerous.

Privacy should be given with high emphasis not only for beginners but even to those who have been here in crypto market for long. If there are traces of scam in the beginning, then don’t be confident because you might a victim in the future because you care less of your privacy. That’s why never compromise your privacy in order to gain quick profits. You can give your KYC but make sure you’re giving it to the most reputable and trusted exchange you ever know, and not just some random new exchanges in town that are promising huge profits.

Everyone needs to be careful with their privacy whether a beginner or an expert. Ideally, we don't share whatever the personal information to random people. I also never share my real name, my residence (address), age, email, country, or anything related to my secret information. Even I rarely posted photos on social media to avoid the misused of hackers. We must be aware to keep our privacy because hackers are getting smarter. Moreover, the technology always develops, there will be more ways to hack/scam people. So, it is stupid if someone easily share their personal data to random people. Or share the information to social media channels.

Privacy isn’t easy even in our everyday life. But privacy is essential because of what it entails that can be breached and cause us a lot of harm when a third party comes in contact with the information there. In bitcoin, privacy is essential and should be taken with high priority and not neglected.


With government, you can’t have a total control of your privacy. To some extent, this is good as it helps to find wanted criminals easily when there’s a breach of insecurity or involvement in illegal activities that can cause harm to the general public and peace of a nation.


This is optional because their are many exchanges that don’t need KYC before you can use them.


Those that don’t regard privacy have nothing to lose when their privacy is been breached. Those that value and acknowledge privacy will not think otherwise because of how precious it is to them. Privacy is very essential and their are no two ways about it.