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Topic: Main disadvantage of Bitcoin and the others - page 2. (Read 2305 times)

legendary
Activity: 2142
Merit: 1010
Newbie
It's extremely easy to avoid all of these with proper control of your addresses.
Haven't seen "Private mode" option in my bitcoin wallet. It's easy for u but not for millions housewives. Bitcoin have to be more user-friendly to become popular.
legendary
Activity: 2142
Merit: 1010
Newbie
the only possible  danger  would maybe be in immediate reciept of a marked coin (like set up by the cops in a sting   doing something illegal etc )
Good point. No need to dig thru whole chain. Just pay attention to where coins were transferred after some checkpoint.

i dont think its worth worrying about tbh Smiley
U'll change ur mind after buying something that is "illegal" from gov's point of view.
member
Activity: 76
Merit: 10
I still have yet to see an analysis that picks a random address from the blockchain and successfully identifies its owner by name.

It could be very hard. But if u get an address to be known to belong to a particular service/person, u could evaluate (with some probability) turnover of its capital. Statistical analysis gives quite precise numbers...

Real cash doesn't have such drawback.

Two issues.

1) People don't use one address for everything they do. Businesses, especially, will often create one new address for every customer or transaction. In order to calculate the the "turnover of capital", you'd need to know every address they own.

2) The best methods I know for taking one address and figuring out which other addresses are owned by the same person are checking for multiple inputs and checking for the output that looks more like the change output. Addresses with a lot of transactions back and forth between them would also be likely, though not certain, to be connected. It's extremely easy to avoid all of these with proper control of your addresses. Avoid multiple inputs by intelligently selecting outputs, and by making a series of combining transactions. Avoid obvious change outputs by looking over the input values, fees, and the real cost of the transaction and selecting proper numbers. Avoid having addresses interconnected with transactions by using a lot of addresses; one per customer or something. If you're careful, it's easy to be very anonymous with bitcoins.
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
I still have yet to see an analysis that picks a random address from the blockchain and successfully identifies its owner by name.

All coins will probably be "tainted" at some stage ......even if you could say a coin was involved in an illegal transaction once ,god knows how many tumblers and wallets and banks and gambling sites its going to be in after that

the only possible  danger  would maybe be in immediate reciept of a marked coin (like set up by the cops in a sting   doing something illegal etc )

i dont think its worth worrying about tbh Smiley
sr. member
Activity: 292
Merit: 250
Your real identity is more likely to be indentified going in public (where there are cameras, fingerprints, etc.) and paying in cash than you are using bitcoin "correctly." There is a reason that Silk Road uses bitcoin.
legendary
Activity: 2142
Merit: 1010
Newbie
I still have yet to see an analysis that picks a random address from the blockchain and successfully identifies its owner by name.

It could be very hard. But if u get an address to be known to belong to a particular service/person, u could evaluate (with some probability) turnover of its capital. Statistical analysis gives quite precise numbers...

Real cash doesn't have such drawback.
legendary
Activity: 2198
Merit: 1311
I still have yet to see an analysis that picks a random address from the blockchain and successfully identifies its owner by name.
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
Real cash has one distinctive feature that cryptocurrencies don't have - anonymity. All transactions are stored in blockchains so every satoshi could be tracked down to its origin. There are a lot of laundry/mixing services but noone guarantees that their owners don't record transactions passed thru such services. In our world, when governments try to control every step of citizens, anonymity becomes more and more important. Is there any hope that Bitcoin/Namecoin/Litecoin will be redesigned? This could be done if someone invents a solution of this problem and implements it. But I think there is no a way for our community to come to a consensus regarding the problem.
No real question here, I just shared my thoughts...

the majority of 1 USD american banknotes once tested positive for traces of cocaine ,it didnt make any differnce to their value though

i think bitcoins will be same ,at some stage ,the majority of them will have been mixed through blockchains of Silkroad transactions and all sorts of grey area stuff

i dont see it making much differnce to the overall coin world .......
legendary
Activity: 2142
Merit: 1010
Newbie
Real cash has one distinctive feature that cryptocurrencies don't have - anonymity. All transactions are stored in blockchains so every satoshi could be tracked down to its origin. There are a lot of laundry/mixing services but noone guarantees that their owners don't record transactions passed thru such services. In our world, when governments try to control every step of citizens, anonymity becomes more and more important. Is there any hope that Bitcoin/Namecoin/Litecoin will be redesigned? This could be done if someone invents a solution of this problem and implements it. But I think there is no a way for our community to come to a consensus regarding the problem.
No real question here, I just shared my thoughts...
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