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If I make a new bitcoin wallet, and transfer money from my 'main' wallet into that one, would that be traceable by anyone who deal with my new wallet? Would I n

If I make a new bitcoin wallet, and transfer money from my 'main' wallet into that one, would that be traceable by anyone who deal with my new wallet? Would I need to use/trust some kind of 'washing' service to hide my transaction among several others?

SXX 9y ago
Any "wallet" is not single address, but set of addresses. Each address is just cryptographic private key and you might have as many as you want. Though as soon as you sent any transaction public key of your wallet become known. This is why by default each time you make transaction for any amount bitcoin client send specified amount of coins to target address and all that remain to some new address that you own. While you not announce that you have access to that new address it's fairly easy to track your money. > Would I need to use/trust some kind of 'washing' service to hide my transaction among several others? So answer is yes.
- notheguyouthink 9y ago
  So what good is keeping the coins in separate addresses then? An earlier poster implied that you should keep separate addrs to avoid people knowing how much you have in full - but if you still have to wash the coins to separate accounts, what good is that? You're still washing all your coins - how many addrs you have seems like a side detail. The only thing I can think of that separate addrs gives you, is that you can have a small amount of the coin in an address that you use for daily transactions. Meaning each transaction doesn't need to be washed, because you don't care about that address. Am I missing something?
  - SXX 9y ago
    > So what good is keeping the coins in separate addresses then? Publishing of your public key slightly decrease security of your coins. While ECDSA is strong it's still safer when only hash of your public key (bitcoin address) is known. After all you can always end up with weak key due to software or even hardware bugs. > Am I missing something? You're completely right, but you underestimate how important that little detail is. If you only receive money to different addresses each time then until you actually start spending it's will be impossible to prove that you actually control any of these addresses.
  - firethief 9y ago
    It's like with session keys for secure communication. Generating different keys for each session doesn't solve all your problems, but there would be no benefit to reusing a nonce key and doing so amplifies certain risks.
IIAOPSW 9y ago
>would that be traceable by anyone who deal with my new wallet? yes >Would I need to use/trust some kind of 'washing' service to hide my transaction among several others? congrats, you just reinvented mixers and coinjoins

SXX 9y ago

Any "wallet" is not single address, but set of addresses. Each address is just cryptographic private key and you might have as many as you want. Though as soon as you sent any transaction public key of your wallet become known. This is why by default each time you make transaction for any amount bitcoin client send specified amount of coins to target address and all that remain to some new address that you own. While you not announce that you have access to that new address it's fairly easy to track your money. > Would I need to use/trust some kind of 'washing' service to hide my transaction among several others? So answer is yes.

notheguyouthink 9y ago
So what good is keeping the coins in separate addresses then? An earlier poster implied that you should keep separate addrs to avoid people knowing how much you have in full - but if you still have to wash the coins to separate accounts, what good is that? You're still washing all your coins - how many addrs you have seems like a side detail. The only thing I can think of that separate addrs gives you, is that you can have a small amount of the coin in an address that you use for daily transactions. Meaning each transaction doesn't need to be washed, because you don't care about that address. Am I missing something?
- SXX 9y ago
  > So what good is keeping the coins in separate addresses then? Publishing of your public key slightly decrease security of your coins. While ECDSA is strong it's still safer when only hash of your public key (bitcoin address) is known. After all you can always end up with weak key due to software or even hardware bugs. > Am I missing something? You're completely right, but you underestimate how important that little detail is. If you only receive money to different addresses each time then until you actually start spending it's will be impossible to prove that you actually control any of these addresses.
- firethief 9y ago
  It's like with session keys for secure communication. Generating different keys for each session doesn't solve all your problems, but there would be no benefit to reusing a nonce key and doing so amplifies certain risks.

IIAOPSW 9y ago

>would that be traceable by anyone who deal with my new wallet? yes >Would I need to use/trust some kind of 'washing' service to hide my transaction among several others? congrats, you just reinvented mixers and coinjoins