Bitcoin is both private and anonymous. Serious Question: W…

Twetch ·

Bitcoin is both private and anonymous.

Serious Question: Who ultimately controls whether or not anonymity is preserved or exposed?

Replies

Twetch ·

Fair enough. If it is private only - who controls the privacy?

Twetch ·

Bitcoin is not anonymous.

Twetch ·

So, are you saying that if you use a unique address for every/each transaction, the transaction will remain permanently private? If not, who ultimately owns the control of the privacy?

Twetch ·

Don't reuse addresses. Private.

Twetch ·

It's more private as the number of transactions increases on the network. Also be sensible by not posting your addresses publicly.

Twetch ·

Makes sense and thank you... but I'm still stuck on my question. If for whatever reason, a transaction needs to be exposed, what group/entity/individual has the power to view the transaction? Is it the state/government/legal law enforcement?

Twetch ·

Everyone has the power to see the transactions on the public ledger, but only the ones with who you share your address / transact with will know that a particular address belongs to you.

Twetch ·

With this said, if you really want to stay private, you should not consolidate your outputs into one single multi input transaction. By doing this, and let's say I knew just one of your addresses, I can infer that the other inputs also belong to you.

Twetch ·

It's easier to assimilate if we think in terms of bank notes, assuming that everyone can see the addresses they belong to.
I pay you with bank note 10 and then you pay someone with bank notes 10 and 11, I will know that bank note 11 also belonged to you.

Twetch ·

So, what you do and as it was suggested by @shadders, you transfer these bank notes in multiple transactions to different addresses that belong to the same person.

One of the greatest and not so visible features of Paymail :)

Twetch ·

Yes I have done this in my cold wallet. I have split them all up. What you don't want to do is put all your BSV in one output.