Topic: Is Privacy Coin The Ultimate Way To Preserve Our Privacy In Blockchain? (Read 199 times)

You can get untraceable transactions if you use coin mixer. Mixer can be traced doesn't mean it is so easy. It's loads of work and not everyone can trace. However, the leading privacy coin Monero is also traceable. If you are up to date, you should know a group of researchers published an article claiming Monero as traceable.

For now,,, yes, privacy coins are the only way to do it. We all know by now that Bitcoin simply is too traceable to allow for truly anonymous transactions, and in the case of how it was designed this anyway was not the focus of Bitcoin. It allowed private but not fully anonymous. But once the tech develops, with other layers and implementations we can look to a future of private Bitcoin. For now though,,, it is privacy altcoins.

Shilling Veil means OP has written a little article where he discussed about privacy coins and mentioned veil in a subtle way. But the truth is OP has written it just to promote Veil, in a good way so that no one understands the purpose.
Hope you got it.

First of all, I prefer to compare the old privacy related coins to new ones. Our privacy is more important than blindly jumping to everything that offered to us in the online world.

All that is happening now in the world of the blockchain indicates that confidentiality is just a bait in order to have total control over all!

One of the best selling features of cryptocurrencies is Privacy, but the question to ask is, is there a complete privacy, mos of these coin have their advantages because of different technology being employed, if they succeed in offering a total privacy to users then I believe that coin would win long term

I am pretty sure with cyber security firms such as CipherTrace they can track any bitcoin transaction even if a mixer is used.

You can use bitcoin mixer for getting untraceable transactions but you know mixer is also sometimes traceable. I have seen a guy mentioning it in the bitcoin technical discussion. That is where privacy coins are needed.

When it comes to Bitcoin we need to realize the technologies isn't fully support anonymous instead its a pseudonym system. Not to mention that there is a range of centralization within Bitcoin.

Bitcoin mixing services are trying to tackles those problems, so it could be handy in some ways. Also reusing an address is never recommended by the community since it increases the chance our identity could be tracked.

Then if we are using bitcoin to transact, we can still use it but with the support of a mixer does it? but maybe using privacy coin is much more efficient to use compared to paying transaction fees from bitcoin mixers and websites that is in accordance with it in the market. I want to know, what is "shilling veil" means?

Well, there already has established privacy coins like Monero, DeepOnion, PIVX. Anyway, Veil is also a good privacy if they are saying everything as it will work.
Privacy is very much needed because we need to stay away from people who want to trace us.

Offtopic-
Are you really trying to have a discussion or shilling veil here?

well, from the beginning i believe cryptocurrencies will bring more privacy with blockchain technology
and for me at this moment the best privacy coin is monero,, but, who knows in the future right ?

In my opinion, I think privacy coins are the way forward, you wouldn't find it funny if your bank account balance and all your bank transactions are made public, but this is exactly what blockchain does and it is turning people's wallets into targets for hackers.

I think having privacy platforms is going to be super beneficial to the world of crypto and how we transact. I keep seeing the project Elixxir pop up which is a digital currency platform with a built in messaging dapp. Like a miuch better whatsapp or venmo if you will. I think it will be the type of project that will catch mass adoption

Blockchain came with the concept of decentralisation and anonymity but if you look at what is going on right now, you would see that there is little or no anonymity since identities are now being tied to wallet addresses.

For example, Bitcoin utilizes cryptography to disguise identities and has a transparent public ledger. On one hand, this is an amazing construct but we need to consider the implications. Public wallets are viewable by anyone and include not only the balance of the wallet but also how much money has been received and paid out (including the public wallet addresses of senders and receivers).

Sure, this might be great for a non-profit or other publicly transparent entity…but do we really want anyone and everyone to see what we have and who we send our funds to?

Businesses may have trade secrets or a list of clients and suppliers they want hidden. As a user, a safety concern arises as hackers could easily find and target large holders.

It is quite obvious that even with the conventional Cryptocurrencies, our privacy is not really guaranteed, if you search the internet, you would see that blockchain transactions are not as anonymous as we would like them to be, for example all major exchanges cannot even make transactions without it being monitored by third party firms and we all believe these are anonymous transactions.

To be honest, 7days ago I didn't even know what privacy coins was but while scrolling through bitcoin talk Forum, I stumbled across the Announcement Thread Of The Veil Project and this opened my eyes to the true meaning of anonymity, what it means to spend money without any prying eyes, what it means to perform financial transactions like a ghost, I started feeling like Satoshi Nakamoto after my first transaction because that man remains anonymous even with all the impact he has had in the blockchain space.