create account

Just How Anonymous are Bitcoin Transactions? by glutton4info

View this thread on: hive.blogpeakd.comecency.com
· @glutton4info · (edited)
Just How Anonymous are Bitcoin Transactions?
For those of you looking to make #bitcoin a little more anonymous... here is a good short article with a few pointers on how to do just that.

https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wMzI4NjNkMTdmOGEyNTRkOWM5NmRlNGM4Mzc0MDJlOC5qcGc=.jpg![](steemitimages.com/DQmQQBmZyjUm4BpBAHb9RX7Qzk63MRwjKVLWJauYy7RL2xd/image.png)

Users of the digital currency Bitcoin have the option either to reveal their identity or to be anonymous when sending transactions.


How to identify the parties in a Bitcoin transaction

In order to transact using Bitcoin, neither the sender or the receiver are required to identify themselves or provide any other personal information.

However, many transactions contain some clues that could help identify the parties involved. Among the clues are the amounts of Bitcoin transacted, the time stamps and the IP address of the sender. Additionally, coins used in a transaction might be “tainted,” or associated a user’s known Bitcoin addresses.

To identify the Bitcoin users, these clues would be combined with additional information about them that could be sourced from Internet service providers (ISP), Bitcoin exchanges, Bitcoin web wallets, spyware on the Bitcoiners’ device and the Bitcoiners themselves.


Retaining anonymity in Bitcoin transactions

Bitcoiners can remain fully anonymous during their transactions by utilizing some good Bitcoin privacy practices. These strategies will prevent other individuals or groups from securing additional information that could reveal their identity.

Some of the recommended strategies are using Bitcoin services that ensure the Bitcoin users will remain anonymous during and after the transactions, utilizing a virtual private network (free or paid), and using a new address for every transaction.

Other tips include setting strong security and privacy settings on one’s devices and apps, using an operating system with good privacy features such as Linux, and keeping one’s antivirus up to date to effectively prevent spyware in order to avoid malware from changing destination wallets.


Following Bitcoin breadcrumbs

Anonymity does not mean a person could get away with major crimes. In fact, several Bitcoin-related crimes have led to perpetrators getting busted as a result, as proven by this Forbes experiment.

https://cointelegraph.com/storage/uploads/view/7693839e8f54955c80edd2e61a1aafe7.jpg![](steemitimages.com/DQmeEHHvYM5PPjnXpamWqdjVd1MP6fg7m8RJaBcZNSLy12r/image.png)


Image: Science Mag
While Bitcoin may allow fast and decentralized ways to move funds, it does not necessarily give sufficient cover to conduct illegal activities.

Source: https://cointelegraph.com/news/just-how-anonymous-are-bitcoin-transactions
👍  , , ,
properties (23)
authorglutton4info
permlinkjust-how-anonymous-are-bitcoin-transactions
categorybitcoin
json_metadata{"tags":["bitcoin","cryptocurrency","anonymous","vpn"],"image":["https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wMzI4NjNkMTdmOGEyNTRkOWM5NmRlNGM4Mzc0MDJlOC5qcGc=.jpg","steemitimages.com/DQmQQBmZyjUm4BpBAHb9RX7Qzk63MRwjKVLWJauYy7RL2xd/image.png","https://cointelegraph.com/storage/uploads/view/7693839e8f54955c80edd2e61a1aafe7.jpg","steemitimages.com/DQmeEHHvYM5PPjnXpamWqdjVd1MP6fg7m8RJaBcZNSLy12r/image.png"],"links":["https://cointelegraph.com/news/just-how-anonymous-are-bitcoin-transactions"],"app":"steemit/0.1","format":"markdown"}
created2017-08-17 20:15:15
last_update2017-08-17 20:17:06
depth0
children0
last_payout2017-08-24 20:15:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2,757
author_reputation214,384,008,429
root_title"Just How Anonymous are Bitcoin Transactions?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id12,116,834
net_rshares3,281,218,486
author_curate_reward""
vote details (4)