Thread Rating:

Poll

2 votes (28.57%)
No votes (0%)
1 vote (14.28%)
1 vote (14.28%)
No votes (0%)
No votes (0%)
1 vote (14.28%)
No votes (0%)
No votes (0%)
2 votes (28.57%)

7 members have voted

Skeptic
Skeptic
Joined: Dec 9, 2015
  • Threads: 5
  • Posts: 130
June 14th, 2017 at 6:51:57 AM permalink
But it's trivial to track those transactions from wallet to wallet and then almost as trivial to identify the owner of a wallet when they cash out or buy something online. The anonymity of cryptocurrencies is a myth.
TumblingBones
TumblingBones
Joined: Dec 25, 2016
  • Threads: 5
  • Posts: 71
June 14th, 2017 at 7:32:47 AM permalink
Quote: Skeptic

But it's trivial to track those transactions from wallet to wallet and then almost as trivial to identify the owner of a wallet when they cash out or buy something online. The anonymity of cryptocurrencies is a myth.


I guess it depends on the meaning of "trivial" but I would agree with you there are weak points that can be used to attack the anonymous protections. In general a buyer or seller does not need to know who they are dealing with to process a transaction. On the other hand, if I use a cryptocurrency to buy something on-line that is material (e.g., a new laptop) the seller needs a delivery address so that's one way a law enforcement agency could track. Aside from that, I think a good answer comes from cryptocurrencyfacts.com :
Quote:

cryptocurrency is “pseudonymous.” Due to the open source and public nature of transaction blockchain ledgers, there are little bits of public data that can be used to backwards engineer someone’s identity (in theory). For most of us, the answer then would be, “it’s pretty darn close to anonymous”.

Skeptic
Skeptic
Joined: Dec 9, 2015
  • Threads: 5
  • Posts: 130
June 14th, 2017 at 7:39:17 AM permalink
If you buy or sell coin through an exchange then you're not anonymous either. The only way to stay anonymous is to mine coins yourself and only trade with other individuals who also have an interest in remaining anonymous. There aren't many legitimate reasons for that.

"It's pretty darn close to anonymous" means that it's purely psychological. Pre-paid debit cards are more anonymous.
JoelDeze
JoelDeze
Joined: Apr 20, 2016
  • Threads: 43
  • Posts: 343
June 14th, 2017 at 1:31:34 PM permalink
There are coins that are completely anonymous.

This will answer that question as well:

Anonymous Cryptocurrency
“Know where to find information and how to use it; that is the secret of success.” – Albert Einstein
Skeptic
Skeptic
Joined: Dec 9, 2015
  • Threads: 5
  • Posts: 130
June 14th, 2017 at 2:54:39 PM permalink
Be sure to read the comments to that article. A couple are outright scams, others are closed source so all we can do is take the programmers word for it. One thing that article does reinforce is that there are an unlimited number of cryptocurrencies available and plenty of shady characters behind them all.
JoelDeze
JoelDeze
Joined: Apr 20, 2016
  • Threads: 43
  • Posts: 343
June 14th, 2017 at 4:08:38 PM permalink
Quote: Skeptic

Be sure to read the comments to that article. A couple are outright scams, others are closed source so all we can do is take the programmers word for it. One thing that article does reinforce is that there are an unlimited number of cryptocurrencies available and plenty of shady characters behind them all.



There are a lot of cryptocurrencies that are scams. Always research who endorses them and which communities surround them. I always pay attention to the market cap for a cryptocurrency. ZCash has more than half a billion in market cap and a large community. It's not a scam.

Personally, I'm only interested in Ethereum and Golem. Eth has more than 30 billion in market cap and Golem has almost half a billion.
“Know where to find information and how to use it; that is the secret of success.” – Albert Einstein
JoelDeze
JoelDeze
Joined: Apr 20, 2016
  • Threads: 43
  • Posts: 343
June 14th, 2017 at 6:49:15 PM permalink
A new quantum resistant crypto is up 70% since yesterday now. It's called the QRL (Quantum Resistant Ledger).

The QRL

The strange thing is the founder and one of the core developers are both gastroenterologists. I thought it was funny until I read their white paper.
“Know where to find information and how to use it; that is the secret of success.” – Albert Einstein
JoelDeze
JoelDeze
Joined: Apr 20, 2016
  • Threads: 43
  • Posts: 343
June 17th, 2017 at 4:34:33 PM permalink
Wasn't the greatest week for me this week but I did make 36.23% return for the week on Eth and Golem. Now I have to hope for them to fall. I have a feeling there may be a slight bull rush on ETH coming up over the next day.

*hoping for a minor crash*

Bitstamp may list them next week which will push the price. Wish me luck.
“Know where to find information and how to use it; that is the secret of success.” – Albert Einstein
TumblingBones
TumblingBones
Joined: Dec 25, 2016
  • Threads: 5
  • Posts: 71
June 26th, 2017 at 2:47:34 PM permalink
Quote: JoelDeze

There are coins that are completely anonymous.

This will answer that question as well:

Anonymous Cryptocurrency



What I still don't get is how you can sell/convert your crypto coins for genuine USD, Euros, Yen or whatever, yet still maintain anonymity. Interested parties may not know how you came by your c-coins but they are going to know you have been active in the markets.

  • Jump to: