About KYC
If you create an address only for the customer and he sends you the bitcoins there, you can't hide yourself. Even if you send the bitcoins from the generated address to your main address he can see your main address from the merkle root.
Right?
Topic: Why do they say that you should not use the same BTC address over time? - page 2. (Read 436 times)
May 01, 2020, 05:37:20 AM
May 01, 2020, 05:27:06 AM
unless you provide your details through KYC as you mentioned.
KYC is just one way to give out your details.
You can have the address published as a tip jar. You can have the address published to get coins for some goods or services. You can send money for goods or services and the receiver will know who you are (in certain cases). You can make a non-anonymous donation. Maybe other ways I don't think of right now.
One wrong step and anonymity is gone if there's only one address used.
May 01, 2020, 04:17:19 AM
Bitcoin is only pseudonymous and NOT anonymous, simply because ALL transactions are public. Even though there are no personal information tied into your addresses(unless you do a transaction with a centralized exchange with your personal information).
Even if the transactions are completely public in nature, no one can identify anything about you unless you provide your details through KYC as you mentioned. This is what I love about crypto primarily.However, I know that there are cryptocurrencies with better privacy features out there like Monero etc which provide a greater degree of security. Also, security equals privacy in my opinion.
For example, enabling 2FA helps protect my account to a greater degree and enhances my privacy when compared to having it disabled.
May 01, 2020, 03:18:38 AM
A few years ago there was somebody asking for help here. He was threatened by somebody who knew how many coins this guy was holding.
It was easy because this guy was using one and only address.
Using new addresses every time decreases dramatically the chance somebody gather such information, even if one can track a few transactions to you, he won't be able to track everything.
(Of course, only using change addresses sometimes is not enough, and that's what mixing is for.)
It was easy because this guy was using one and only address.
Using new addresses every time decreases dramatically the chance somebody gather such information, even if one can track a few transactions to you, he won't be able to track everything.
(Of course, only using change addresses sometimes is not enough, and that's what mixing is for.)
May 01, 2020, 02:53:17 AM
Do you know if there is a way to hide my ip when I do a transaction? Without purchasing any hardware.
Run the Bitcoin Core software through Tor: https://en.bitcoin.it/wiki/Tor#Bitcoin_Core
Personally, I like using the Wasabi Wallet[1]; with Tor also natively integrated.
[1] https://wasabiwallet.io/
May 01, 2020, 02:47:28 AM
Bitcoin isn't anonymous
I disagree. The primary feature of cryptocurrencies is their anonymity factor. As long as you follow all safety protocols, your BTC or any other crypto address stays secure. Quantum computing is still just a dream at this point which is why I wouldn't worry about it.Privacy =/= Security
Bitcoin is only pseudonymous and NOT anonymous, simply because ALL transactions are public. Even though there are no personal information tied into your addresses(unless you do a transaction with a centralized exchange with your personal information).
Yes it isn't anonymous since you can see the nodes. That's what you're talking, right?
Do you know if there is a way to hide my ip when I do a transaction? Without purchasing any hardware.
May 01, 2020, 02:27:00 AM
Bitcoin isn't anonymous
I disagree. The primary feature of cryptocurrencies is their anonymity factor. As long as you follow all safety protocols, your BTC or any other crypto address stays secure. Quantum computing is still just a dream at this point which is why I wouldn't worry about it.Privacy =/= Security
Bitcoin is only pseudonymous and NOT anonymous, simply because ALL transactions are public. Even though there are no personal information tied into your addresses(unless you do a transaction with a centralized exchange with your personal information).
May 01, 2020, 02:14:17 AM
Bitcoin isn't anonymous
I disagree. The primary feature of cryptocurrencies is their anonymity factor. As long as you follow all safety protocols, your BTC or any other crypto address stays secure. Quantum computing is still just a dream at this point which is why I wouldn't worry about it.Is there really possible to generate a wallet address? This seems so unfamiliar to me because I haven't tried doing that thing.
Totally possible. The wallets(Green Address etc) which I have personally used always gave me an option to generate a new deposit address whenever necessary. 
May 01, 2020, 12:35:43 AM
There is always a reason for everything, using different addresses for every transaction you have will make you secured, if you are going to use different addresses in every transactions, the attackers or hackers will find hard to trace your account because of different addresses it seems like it is different people because of different address. You may do that but actually, it is really hard to keep because of so many accounts which may result in forgetting some kind of the passwords.
Crypto is not that anonymous after all if eventually a transaction can be trace back to the owner through wallet that's been frequently use overtime, i guess that leave with generating different wallet for any transaction, that would be quite a process.
Is there really possible to generate a wallet address? This seems so unfamiliar to me because I haven't tried doing that thing. 
April 30, 2020, 06:33:54 PM
Reading all the replies above, I think the question has got the answer, surely it is about security and privacy. Using the same BTC address probably attracts people's attention. And someone can trace all your transaction activities. It is too risky and must be avoided, better to use another BTC address than risks your Bitcoin.
>OP, kindly lock this topic if you think it is enough.
>OP, kindly lock this topic if you think it is enough.
April 30, 2020, 06:07:38 PM
I have noticed that even Electrum suggests me to use different bitcoin address on every transaction I make. Why that since you can't do something if you don't have my private key?
Because if you use a new address each time, it makes tracking your transactions more difficult.
April 30, 2020, 11:42:32 AM
there is also a security risk involved which is highly unlikely but it is still there. and that is solving ECDLP, which is basically to find a private key from public key. it is impossible now and it may not happen in the next 50 years but we should still know about it.
if you only use each key once all the world would ever know is the hash of your public key until you spend coins by that time there wouldn't be enough time to do anything.
this doesn't necessarily need quantum computing. it's all math, maybe someone could come up with a method to solve this problem faster.
if you only use each key once all the world would ever know is the hash of your public key until you spend coins by that time there wouldn't be enough time to do anything.
this doesn't necessarily need quantum computing. it's all math, maybe someone could come up with a method to solve this problem faster.
April 30, 2020, 11:34:57 AM
For security of course. Addresses can be change anytime so much better to frequently used different addresses when your dealing with transactions.
Better safe than sorry.
Crypto is not that anonymous after all if eventually a transaction can be trace back to the owner through wallet that's been frequently use overtime, i guess that leave with generating different wallet for any transaction, that would be quite a process.
You can use mixer if you dont want to be traced. But the best way is after you use the address for transaction, just change again or pick new one to use. You can always use different addresses so if ever your being followed by some hackers they would lose any path on your way.Better safe than sorry.
April 30, 2020, 11:07:42 AM
Crypto is not that anonymous after all if eventually a transaction can be trace back to the owner through wallet that's been frequently use overtime, i guess that leave with generating different wallet for any transaction, that would be quite a process.
April 30, 2020, 10:42:33 AM
As the user has mentioned above, privacy is a big reason. You wouldn't wear a t-shirt with your net on it for obvious reasons, and if you only use one address that is what you're doing.
Bitcoin isn't anonymous
Bitcoin isn't anonymous
April 30, 2020, 10:33:38 AM
Privacy. If you were to reuse your Bitcoin address, most of your transaction would originate and be sent to your address. Anyone, without much effort, would be able to trace all your activities just by monitoring one address.
In contrast, if you were to use a different address for every transaction, the funds would be sent to and be sent from different addresses. Since each of your transaction would be linked to different addresses, this makes it a lot harder for people to trace.
Security-wise, it is a non-trivial factor but it does help to eliminate attacks against your address using your public key if quantum computing becomes strong enough.
In contrast, if you were to use a different address for every transaction, the funds would be sent to and be sent from different addresses. Since each of your transaction would be linked to different addresses, this makes it a lot harder for people to trace.
Security-wise, it is a non-trivial factor but it does help to eliminate attacks against your address using your public key if quantum computing becomes strong enough.
April 30, 2020, 10:29:42 AM
I have noticed that even Electrum suggests me to use different bitcoin address on every transaction I make. Why that since you can't do something if you don't have my private key?
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