4 ms·
> The pseudonymity of coins being owned by the bearer of some > cryptographic key is a failure; People have been eavesdropping and > aggressively analyzing the
by tryptophan 6y ago
> The pseudonymity of coins being owned by the bearer of some
> cryptographic key is a failure; People have been eavesdropping and
> aggressively analyzing the block chain from day 1. And the block chain
> will always be there, it will always be public, and it will always be
> subject to further analysis. And we are learning that analysis of that
> record is sufficient to destroy any pretense of anonymity or
> pseudonymity.
Yeah, privacy is a joke on blockchains. Perhaps that is why actually private coins like Monero are having such 'difficulty' getting adoption on mainstream platforms, with shitcoins getting preference. I suspect that if coinbase tried to add Monero, they would get a very angry letter from the CIA/FBI (perhaps this already happened, they have been having 'technical difficulties' adding it for years now).
- 37ef_ced3 6y agoI wonder how many Bitcoin users have read and understand the following extensive list of privacy "pitfalls" (mistakes that can reveal information about unwary Bitcoin users): https://en.bitcoin.it/wiki/Privacy https://en.bitcoin.it/wiki/Privacy Are you careful to avoid these numerous privacy pitfalls? If not, you're leaking information about yourself, into the public ledger (blockchain)
- Trasmatta 6y agoIt makes me wonder how many people have gotten busted for either buying or selling drugs with cryptocurrencies, thinking it was automatically safe and private.
- ineedasername 6y agoIt's simply an extra layer & bit of effort law enforcement has to jump through, and as understanding of crypto permeates society & law enforcement, even those barriers will be removed.
- XargonEnder 6y agoWow that's a ludacris list of pitfalls. I've overwhelmed just looking at the list of sections in that document.
- ineedasername 6y agoWell, I think it's important to keep in mind that the criticisms seem specific to bitcoin, not crypto in general, and some of them are perfectly valid observations (even if you don't consider them "bugs")
- brianobush 6y agoMost BTC holders are on exchanges that all have KYC rules in place, so there is no anonymity or privacy assumed. It is just like buying KO shares on Etrade.
- np_tedious 6y agoCoinbase does have Zcash. So they don't seem entirely opposed to privacy coins
- vulturalcptlst 6y agowell,that escalated quickly.
- kordlessagain 6y agoWhether privacy is a joke or not on Bitcoin isn't the point. Consider most systems in place 10 years ago all were discovered to have holes in them and have been subsequently patched. The belief that today's software, or tomorrow's software, will also have a non-joke level privacy option that is functional long term is, in my opinion, unobtainable. Bitcoin still manages to be useful in proving identity, however.
- ashconnor 6y agoI honestly expected Monero or Zcash to take off because it they both progressed on this issue but that just hasn't happened.