Topic: Is putting public bitcoin address for donation dangerous for your privacy? (Read 5292 times)
December 12, 2020, 09:28:36 AM
Because of all these reason i still dont understand why everyone like public chains so much
December 12, 2020, 09:21:15 AM
Let me answer first your question on your topic.
The answer was already given by the question you provided. The word Public contradicts the word Privacy, so yes, in a way, your privacy is in danger if you'll put your Bitcoin address in public, like giving hackers a hint on what address they should start the hacking for example.
And about this one, even if you don't put your Bitcoin address, anybody can still copy and paste your address in blockchain to see how much bitcoin do you have and all the transactions you've made. In short, Bitcoin is anonymous but the user's anonymity will entirely depends on how you are going to use your Bitcoin.
The answer was already given by the question you provided. The word Public contradicts the word Privacy, so yes, in a way, your privacy is in danger if you'll put your Bitcoin address in public, like giving hackers a hint on what address they should start the hacking for example.
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End result - someone knows (or has a pretty good guess) exactly how much bitcoin I have, just because I put up a public donation address.
Please refute.
End result - someone knows (or has a pretty good guess) exactly how much bitcoin I have, just because I put up a public donation address.
Please refute.
And about this one, even if you don't put your Bitcoin address, anybody can still copy and paste your address in blockchain to see how much bitcoin do you have and all the transactions you've made. In short, Bitcoin is anonymous but the user's anonymity will entirely depends on how you are going to use your Bitcoin.
August 30, 2020, 02:12:48 PM
Categorically, bitcoin can never force you to release your real identity in public.giving out your real address in public is like calling scammer into your privacy,because your bitcoin is your bitcoin.
Scammers can find you anywhere, send virus to your PC or something like that, and get all your funds.
Question is how to 100% hide your identity when using bitcoin?
August 30, 2020, 11:59:10 AM
Yep. Every transaction you make potentially leaks a little information about other transactions to/from your bitcoin wallet.
That's why I always say "bitcoin anonymity is complicated" and "bitcoin transactions are more private than credit card or bank transactions, but less private than cash transactions" or "staying completely anonymous while using bitcoins is hard."
And that's why you won't find (or, at least, shouldn't find) any claims that bitcoin is anonymous on the bitcoin.org home page or in the bitcoin source code.
What can you do? Use separate wallets. Make your donation address an instawallet or mybitcoin address that you don't use for anything else.
You must create a separate wallet for each of the donation options. Then the security will be much higher if you immediately post your main bitcoin wallet. Anonymity is still present, but it is not so anonymous that it would not track the conclusions and transfers of large amounts. Be careful with your transactions. That's why I always say "bitcoin anonymity is complicated" and "bitcoin transactions are more private than credit card or bank transactions, but less private than cash transactions" or "staying completely anonymous while using bitcoins is hard."
And that's why you won't find (or, at least, shouldn't find) any claims that bitcoin is anonymous on the bitcoin.org home page or in the bitcoin source code.
What can you do? Use separate wallets. Make your donation address an instawallet or mybitcoin address that you don't use for anything else.
August 30, 2020, 11:53:00 AM
I also had this problem. I always use separate addresses for airdrops because many are scams and I will just hold the coins and if I find them on the market I will sell them and get the bitcoin from the exchange.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.
What about KYC on the exchange or markets?
For example, if police want to find you, they can send request to the exchange where you buy/sell bitcoins and receive all info about you.
August 30, 2020, 10:31:54 AM
I also had this problem. I always use separate addresses for airdrops because many are scams and I will just hold the coins and if I find them on the market I will sell them and get the bitcoin from the exchange.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.
August 30, 2020, 08:27:15 AM
Well, since the information about your wallet can be known via any of the public addresses, then I think you are not completely anonymous so your privacy is not totally safe. However, since limited information is still very known and other information most importantly the address, name, and location of the owner is still not known, I still do not think the public address is dangerous to your privacy. The information that can be gotten is still very limited
August 30, 2020, 08:19:22 AM
Yep. Every transaction you make potentially leaks a little information about other transactions to/from your bitcoin wallet.
And that makes it risky for you to donate with your own wallet. Try to donate in cash/fiat instead of doing that. There are much safer way for you to help someone and donate your money where you will not risk your privacy and anonymity in your assets. A little information is a big opportunity for those hackers and scammers, so you should prioritize your privacy and anonymity and at the same time helping other people with donations. It can link to another platform or account so always be careful when making transactions.
June 13, 2011, 03:15:20 AM
Backups are good for reliability reason. When your hard disk crashes, it is good to have backups!
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.
That's it.
"brand new" is not security, computers are often shipped with malware.
June 12, 2011, 07:24:04 PM
True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.
That's it.
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.
That's it.
I'm sure you do this every time you want to send money that is more than your "everyday" wallet has in it, right?
Yea, neither will anyone else, which is why it's an issue.
June 12, 2011, 04:13:02 PM
Backups are good for reliability reason. When your hard disk crashes, it is good to have backups!
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.
That's it.
June 12, 2011, 04:10:21 PM
Backups are good for reliability reason. When your hard disk crashes, it is good to have backups!
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.
June 12, 2011, 04:02:43 PM
Store copies of your wallet elsewhere, even on the web, but encrypted with a key that will only ever be entered on your dedicated bitcoin computer.
This really won't work. Once I steal your wallet, having backups elsewhere won't help. First thing I'll do is spend the coins, the network will confirm the transactions before you know it's gone, and you can't reverse the transactions. So I pwned your coins.
If I get a hold of your wallet.dat file, you're toast. Backups are no good.
People running Bitcoin under Windows are insane. No way I'd run a forked version of the client either, without inspecting the source (which I've done to the official client).
Actually forking the client is WAY easier to shave some type of transaction fee addition and just mail it to yourself. Most users won't explore the block chain themselves and see that transaction A actually resulted in two transactions, one to intended recipient and one to the author of said client.
June 12, 2011, 12:39:04 PM
I'd be more worried about someone writing a virus for Windows that just emails the attacker your wallet.dat file, deleting it from the local hard drive as it goes. Then the attacker has your coins, you don't.
That one has me paranoid.
Rightfully so - but you can protect yourself easily by using a dedicated computer with a brand new OS (preferbally linux), that is only used for Bitcoin.
Store copies of your wallet elsewhere, even on the web, but encrypted with a key that will only ever be entered on your dedicated bitcoin computer.
This should protect you from any reasonable attack. The only ways I can think of to attack you would be:
1. A virus embedded in the OS image you're installing.
2. A government or other super computer brute-forces or otherwise decrypts your wallet.
Both are rather unlikely.
June 12, 2011, 12:29:15 PM
I'd be more worried about someone writing a virus for Windows that just emails the attacker your wallet.dat file, deleting it from the local hard drive as it goes. Then the attacker has your coins, you don't.
That one has me paranoid.
June 12, 2011, 10:01:40 AM
End result - someone knows (or has a pretty good guess) exactly how much bitcoin I have, just because I put up a public donation address.
A public address can be tied to you.
A private address (one that was never published or listed anywhere) cannot be tied to you irrefutably.
If someone sees coins going from a public address to a private address, that private address will be listed in the block chain as receiving the coins.
However, there's no way to tied that private address to you. You could easily state that you were conducting a private transaction with a 3rd party who shared the address with you in private.
You can further obfuscate your private address by sending between your private addresses multiple times to multiple private addresses.
Sure, these show up in the block chain, but they cannot be tied to a single individual indisputably. You have to rely on guess work.
Forensically, unless I can get a hold of your wallet.dat, I cannot prove that the addresses in question are yours.
I'd be more worried about someone writing a virus for Windows that just emails the attacker your wallet.dat file, deleting it from the local hard drive as it goes. Then the attacker has your coins, you don't.
The virus angle is easy to solve. Put all your money in a large, trusted, insured bank that maintains a bitcoin wallet for you.
You can have this bank set limit on how much money you can withdraw from it in a time period, and have them call you for large transfer. You still should keep the password secure, just like you do today with you online bank account.
The attack works on private address. If you give Amazon one of your addresses (a one time generated address), and then they refund you for anything via this address, odds are you will eventually move this money to your saving account. Then, odds are, you'll move it back to your regular wallet someday. You'll have transactions back and forth between these wallets.
It will be very hard to deny both wallets are yours if you keep moving money between them.
June 12, 2011, 09:58:42 AM
Tomorrow, the same people will also give them a complete record of their shopping history, and bank balance.
You're supposed to give every entity you do business with a different address. As such, the only transaction history they have is the history of that address, which today they have anyhow.
Can they see that you also sent coins from that address to another one? Sure. Does that tell them anything? No.
June 12, 2011, 09:55:30 AM
End result - someone knows (or has a pretty good guess) exactly how much bitcoin I have, just because I put up a public donation address.
A public address can be tied to you.
A private address (one that was never published or listed anywhere) cannot be tied to you irrefutably.
If someone sees coins going from a public address to a private address, that private address will be listed in the block chain as receiving the coins.
However, there's no way to tied that private address to you. You could easily state that you were conducting a private transaction with a 3rd party who shared the address with you in private.
You can further obfuscate your private address by sending between your private addresses multiple times to multiple private addresses.
Sure, these show up in the block chain, but they cannot be tied to a single individual indisputably. You have to rely on guess work.
Forensically, unless I can get a hold of your wallet.dat, I cannot prove that the addresses in question are yours.
I'd be more worried about someone writing a virus for Windows that just emails the attacker your wallet.dat file, deleting it from the local hard drive as it goes. Then the attacker has your coins, you don't.
June 12, 2011, 09:53:17 AM
For bitcoin to be universal, it needs to be accessible, secure and reasonable private to soccer moms, not hackers.
is knowing how much money you have really an issue? If people are really paranoid, they can always use a mixer service, or a e-wallet.No it isn't an issue. Please tell me, nay, show me, how much money you have.
e-wallets are not immune.
June 12, 2011, 09:48:17 AM
For bitcoin to be universal, it needs to be accessible, secure and reasonable private to soccer moms, not hackers.
is knowing how much money you have really an issue? If people are really paranoid, they can always use a mixer service, or a e-wallet. Jump to: