Safety of Btc ussage - page 2. | Bitcointalksearch.org

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Quote from: BlackBoss_ on December 17, 2024, 02:13:50 AM

Quote from: davis196 on December 17, 2024, 02:03:10 AM

Are you committing crypto crimes?

People can care about their privacy, without being criminals or have criminal activities with their funds. Privacy matters for everyone, it's different in importance with different people. You don't need to be a criminal to want privacy for your Bitcoin transaction.

In life, when you go to public locations, you don't need to be a criminal, too feel uncomfortable when someone behind you or on one side (left or right), tries to look at your phone or laptop. It's privacy care.

You do have a point too.
Each person feels differently about their privacy - and rightfully so, I guess.
You can't mess up a cake with additional cherries on top.

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Quote from: davis196 on December 17, 2024, 02:03:10 AM

Are you committing crypto crimes?

People can care about their privacy, without being criminals or have criminal activities with their funds. Privacy matters for everyone, it's different in importance with different people. You don't need to be a criminal to want privacy for your Bitcoin transaction.

In life, when you go to public locations, you don't need to be a criminal, too feel uncomfortable when someone behind you or on one side (left or right), tries to look at your phone or laptop. It's privacy care.

Quote

Safety means that you are able to protect your crypto from hackers and scammers.

If people don't publicly said they are Bitcoin investors, they have bitcoins, they will have better safety for their bitcoin fund because less people know about it, and less potential bad guys will try to do something like killing them, stealing these coins.
Physical Bitcoin attacks.

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Privacy means that nobody knows that you own crypto and nobody can trace the origin of your crypto. Achieving safety+privacy is great, but in most cases you shouldn't worry about your BTC being traceable on the blockchain(unless you are doing something illegal)

Privacy and safety comes together. Security, privacy and safety are in a pyramid with mutual interactions.

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Quote from: davis196 on December 17, 2024, 02:03:10 AM

Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Yes, BTC transactions can be tracked, and so what? Are you trying to hide the origin of your BTC funds? Are you committing crypto crimes?
Safety means that you are able to protect your crypto from hackers and scammers. Privacy means that nobody knows that you own crypto and nobody can trace the origin of your crypto. Achieving safety+privacy is great, but in most cases you shouldn't worry about your BTC being traceable on the blockchain(unless you are doing something illegal). I hear many people complaining about the high XMR transactions fees lately. I don't use XMR and I can't tell whether this is true or false.

A friend of the OP may be onto something Roll Eyes

Or maybe he is just very fond of the privacy+security combo.
In any case, I agree with you - if there is no illegal stuff in question, nothing would be a problem for a person not using XMR, but just BTC.

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Yes, BTC transactions can be tracked, and so what? Are you trying to hide the origin of your BTC funds? Are you committing crypto crimes?
Safety means that you are able to protect your crypto from hackers and scammers. Privacy means that nobody knows that you own crypto and nobody can trace the origin of your crypto. Achieving safety+privacy is great, but in most cases you shouldn't worry about your BTC being traceable on the blockchain(unless you are doing something illegal). I hear many people complaining about the high XMR transactions fees lately. I don't use XMR and I can't tell whether this is true or false.

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

What term of safe are we referring to? Anyone can secure their holdings without switching to XMR. If you’re after the privacy it’s common choosing XMR meanwhile bitcoin for long run is profitable, XMR is more private and stable meaning it can be use as fiat in most location and it promotes anonymity unlike bitcoin blockchain. If bitcoin doesn’t support same features as XMR although your friend is right but it doesn’t make bitcoin unsafe, I disagree and if you feel like converting your coins it all depends on your goal.

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Quote from: sunsilk on December 14, 2024, 03:56:39 PM

Everything that's on the blockchain can be tracked but it cannot be easily identified.

I always find it funny or confusing because it is transparent and at the same time anonymous. BTC represents most of it but for others or the privacy coins like Monero, they can be the ones that are non-trackable. Hence they are called as that 'privacy coins'.

Quote from: sunsilk on December 14, 2024, 03:56:39 PM

Your friend isn't wrong if it's about privacy and the usage of monero.

The only thing is that I find what his friend say offensive against BTC. Only because BTC can be tracked, does it also mean it is now unsafe? Dang. Maybe he is only doing some shady activities, for him to say that. Having a friend like that is the ones that is not safe. And besides, like we said earlier, BTC is still partially anonymous, so we should not worry if we are conscious about our privacy.

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Quote from: fikrett on December 14, 2024, 11:32:11 AM

OP can combine the options presented to him or use something of his own after analyzing everything - and I hope he will be able to be sure of his future and privacy in the space.

If he can take some of the lessons that have been presented by some of the previous people then I am sure he will have a conclusion for the privacy and security issues in storing his bitcoin assets because there have been many suggestions and inputs that have been given and now it is up to him to choose which one.

Quote from: Z-tight on December 15, 2024, 09:12:29 AM

I don't agree that Monero is a hype, Monero is a great cryptocurrency, especially for privacy and other features it offers, like low fees, etc. Both BTC and Monero are great to use, it depends on what you are looking for as a crypto person. Op is surely wrong with their understanding of BTC, because pseudonymity does not mean 'unsafe', and in case they do not know, your cryptocurrency is only as safe as the device you store it in and your opsec.

That is true because using bitcoin should be much safer when someone is able to protect it and there are now many safe storage places that can be used or utilized. Monero has its own advantages and may not be compared to bitcoin because both have different sides depending on the use that is utilized by people. Everything that is online should not be so safe because there are still gaps to be infiltrated but it depends on how someone is able to secure it.

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Quote from: Familian on December 14, 2024, 05:13:04 PM

Talk safest coin to use talk BTC to which monero is just a hype. But if you wish to try XMR you're free, probably when you test both you'll know which is better, which can't be any order than bitcoin.

I don't agree that Monero is a hype, Monero is a great cryptocurrency, especially for privacy and other features it offers, like low fees, etc. Both BTC and Monero are great to use, it depends on what you are looking for as a crypto person. Op is surely wrong with their understanding of BTC, because pseudonymity does not mean 'unsafe', and in case they do not know, your cryptocurrency is only as safe as the device you store it in and your opsec.

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In my opinion, Monero is only necessary for you to use if your BTC is of questionable origin, which might arouse the suspicions of exchanges and off-ramps.

There's nothing inherently wrong with BTC, but businesses choose to treat bitcoin as 'fungible' and make classifications for 'good money' and 'dirty money' (which is inherently a flawed comparison because the paper trail can easily be destroyed by using Coinjoins, but said businesses don't like that and blacklist all coinjoins as well).

On the flip side though, XMR is accepted at a much smaller number of stores compared to BTC. This is mainly because the centralized payment processors deliberately do not support XMR payments. But where it is accepted it's good.

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Quote from: SatoPrincess on December 14, 2024, 06:51:57 PM

Bitcoin is pseudonymous not anonymous which means all bitcoin transactions are visible on the blockchain network. Monero on the other hand is a privacy coin and its transaction are not public. If you’re trying to hide your transactions or paranoid about privacy, coins like Monero and Dash are the coins for you.

About DASH, there is a funny history about their team denial to be a Privacy coin. For years, they claimed to be a Privacy coin but when there were attempts to break down Privacy coins, delist these coins on Centralized Exchanges, DASH team turned around and said their coin is not a Privacy coin.

This funny action from DASH team happened four years ago.
Dash should not be considered a privacy coin, Dash team says

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Bitcoin is pseudonymous not anonymous which means all bitcoin transactions are visible on the blockchain network. Monero on the other hand is a privacy coin and its transaction are not public. If you’re trying to hide your transactions or paranoid about privacy, coins like Monero and Dash are the coins for you.

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Your friend could have helped you by explaining widely to your comprehension about what he means by tracking which actually isn't tracking but the bitcoin blockchain an open ledger through which bitcoin address transactions can be viewed by anyone, but still on, the identity of the address owner remains anonymous.

Talk safest coin to use talk BTC to which monero is just a hype. But if you wish to try XMR you're free, probably when you test both you'll know which is better, which can't be any order than bitcoin.

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Everything that's on the blockchain can be tracked but it cannot be easily identified. Your friend isn't wrong if it's about privacy and the usage of monero.

You can also do that but if you have no problem dealing with and using Bitcoin for your transactions, there's nothing wrong with doing it as well.

At least for now, you've got some options for increasing your privacy and if you want more anonymity, you have a go-to crypto. But still, Bitcoin does both of it, and based on you, you have no issues with it. In layman's term, "if it's not broken, why fix?"

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Your friend is blowing things outta proportion about Bitcoin being unsafe. Yes, bitcoin has a public ledger in the form of a blockchain, but that's about it. There's nothing unsafe about that. If you're concerned about privacy, XMR is a good option. However, it's important to note that XMR is not necessarily more "safe" than Bitcoin, just more private.

Ultimately, the decision is yours. If you're happy with bitcoin's level of privacy, stick with it. But you can take steps to improve it. Use your own non-custodial wallet and generate new addresses. Be wise with associations. There are ways to use bitcoin privately if you need to. And its transparency brings security benefits too. Your friend's worries come from lack of understanding, not issues with the tech itself.

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

What do you really need from this community because from the look of things what you are talking about are two different thing's if you talk about security, you can have 100% security with Bitcoin it all depends on how you treat your Bitcoin, and even MRX have it own vulnerabilities it all depends on how you treat your coins.

Your friend could have been traced and tracked through many means apart from bitcoin as a matter of fact, having bitcoin is not the reason or means that your friend is tracked, it courbet from his details or devices so let it not sound as if Bitcoin security is not guaranteed.

Z-tight

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Take note that your funds is only as safe as the device you store it in, so if you use an unsafe device, your funds can be stolen, as for the BTC network, it is safe in itself. The BTC blockchain is transparent and every tx is recorded there and open to everyone, but there are ways you can achieve privacy with BTC, i.e. BTC mixers or CoinJoin tx's, you should also stay off kyc services and don't reuse addresses.

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Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Bitcoin has both security and privacy, though the use of mixers are for privacy but banned already form this forum, however, bitcoin itself provides with enough ways whereby you could achieve your privacy once you know how to do that, some make use of secured software client like bitcoincore for some related purpose, while we could as well make use of the layer two network protocols for this or running a full node if we don't mind.

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Privacy and security ain't quite same
Monero is privacy oriented than Bitcoin.
And been tracked depends on what you using the funds for
If it's not something you want public you may Try monero or a Bitcoin mixer
Or avoid using a CEX.

To me he's exaggerating, though Bitcoin can be tracked
It can only be linked to you if you made your details public somewhere especially an exchange.

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Quote from: ancafe on December 14, 2024, 11:13:17 AM

Quote from: platinumsteel2016 on December 14, 2024, 09:10:06 AM

I have been using bitcoin successfully, and NO issues...Recently a friend of mine that it is not safe because it can be tracked. My friend
said that I should use MXR instead. Someone please provide some clarification. If I should convert to XMR or isthis guy exaggerating?!?

Several people have suggested options to protect your bitcoin assets and now it is your own responsibility to put in the required effort. Security is something that is quite important in bitcoin investment especially because it involves a large capital that we put in and will be quite detrimental when security is not considered properly. As far as I know Monero cannot be traced easily but transactions are recorded on the blockchain and you need to know that so that you can run it properly and not make mistakes.

If you intend to maintain privacy then you need to find a match according to your needs because security and privacy are two different things. I think there are many previous suggestions that you can learn so that it will provide much better security to use.

OP can combine the options presented to him or use something of his own after analyzing everything - and I hope he will be able to be sure of his future and privacy in the space.

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Your friend is exaggerating. There is nothing unsafe about bitcoin. It is a coin with a public ledger but that doesn't make it unsafe. You have the choice about how much you reveal to other when you use bitcoin. If all your coins are associated to addresses on CEXs where you have performed KYC, you reuse addresses, and store your bitcoin on SPV wallets connected to servers provided by third-parties, then, yes, you do reveal some information about yourself.

There is a better way to do it. Run your own node. Buy bitcoin P2P or from no-KYC and/or decentralized exchanges. Don't reuse addresses and create multiple wallets for different purposes. You can also mix your coins and do coinjons.

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