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> Transactions made using cryptocurrencies can provide more anonymity to senders and recipients of money Well, yes, providing you use something like Monero. We

> Transactions made using cryptocurrencies can provide more anonymity to senders and recipients of money Well, yes, providing you use something like Monero. We all should know by now that Bitcoin has a transparent ledger and your kids in 20 years time will probably be able to see what you spent your Bitcoin on.

neb_b 5y ago
Bitcoin privacy tools are improving. Its possible to "mix" your coins using CoinJoin which masks your spending history.
jacoblambda 5y ago
The statement isn't incorrect. The majority of cryptocurrencies (including Bitcoin) are anonymous since they don't assign an external identity and unless you manually attach one, the only way an identity is attached is if it can be inferred by the activity on the account. Monero and zk proof based networks are private (distinct from anonymous) because the interactions between the accounts and funds are largely obscured. While these zk proof based networks are also anonymous, most networks are not also private. It's a small distinction but it's important none-the-less. Privacy improves anonymity but it's perfectly possible to remain anonymous without privacy.
- zucker42 5y ago
  > the only way an identity is attached is if it can be inferred by the activity on the account. Or by observing the IP from which you access Bitcoin.
  - rfd4sgmk8u 5y ago
    This isn't really a thing, not without huge visibility of the bitcoin network to correlate 'first time transaction seen'. Transactions are relayed by peers -- just because you saw some gossip from IP 'A' does not imply the transaction came from IP 'A', it could have been relayed through 'B' and 'C'. Furthermore, with dandelion routing, you cannot find the true origin of the tx by sight, even if you find the true first IP relaying the transaction.
- Breza 5y ago
  Bitcoin makes this paper even more relevant: https://science.sciencemag.org/content/347/6221/536 https://science.sciencemag.org/content/347/6221/536

neb_b 5y ago

Bitcoin privacy tools are improving. Its possible to "mix" your coins using CoinJoin which masks your spending history.

jacoblambda 5y ago

The statement isn't incorrect. The majority of cryptocurrencies (including Bitcoin) are anonymous since they don't assign an external identity and unless you manually attach one, the only way an identity is attached is if it can be inferred by the activity on the account. Monero and zk proof based networks are private (distinct from anonymous) because the interactions between the accounts and funds are largely obscured. While these zk proof based networks are also anonymous, most networks are not also private. It's a small distinction but it's important none-the-less. Privacy improves anonymity but it's perfectly possible to remain anonymous without privacy.

zucker42 5y ago
> the only way an identity is attached is if it can be inferred by the activity on the account. Or by observing the IP from which you access Bitcoin.
- rfd4sgmk8u 5y ago
  This isn't really a thing, not without huge visibility of the bitcoin network to correlate 'first time transaction seen'. Transactions are relayed by peers -- just because you saw some gossip from IP 'A' does not imply the transaction came from IP 'A', it could have been relayed through 'B' and 'C'. Furthermore, with dandelion routing, you cannot find the true origin of the tx by sight, even if you find the true first IP relaying the transaction.
Breza 5y ago
Bitcoin makes this paper even more relevant: https://science.sciencemag.org/content/347/6221/536 https://science.sciencemag.org/content/347/6221/536