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Messages - AdamStgBit

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1
General / Re: Bitcoin
« on: November 20, 2011, 08:04:46 PM »
Bitcoin is anonymous

don't use Crypto, use MtGox that's where all 90% of the bitcoin trading happens and they do not ask for your home address.

vendors would have to look thought the block chain to find your the address you loaded the coins two, and then find out from the exchange site which bank account was used to deposit the money used to buy the bitcoin. (not easy thing to do, you'll need a court order to force the exchange site to give away this info.)

if you want you could make it 100% impossible, for anyone to trace you like this, just send the coins to another wallet once you bought them. in that case the they will hit a dead end when trying to trace a transaction back to you.

compare that to a VSIA or paypal payment.

remember when this happened.

Sony Hacked Again; 25 Million Entertainment Users’ Info at Risk


bitcoin make payments safe, and anonymous.
 

Thanks for the comments. It's still not clear to me how it works. It seems to me that no matter how many transfers you do to how many accounts, it should always be traceable. In fact, the whole bitcoin network as I understand it is built upon the ability to track and record every transaction. But, it's supposedly anonymous, and I'm trying to understand exactly how. Those two things seem to be in contradiction. I'm guessing maybe it has something to do with public/private key encryption so that only the buyer and seller have the records, but the network still must "know" about the transaction.

In other news, I downloaded the bitcoin client, but only because I was hoping to be able to send or receive money with it. But while running it, it seems to be crunching numbers quite a lot. Is it mining? I have no interest in that. Am I completely missing the point of all this?

Thanks.


a the wiki page that explains bitcoin Anonymity

https://en.bitcoin.it/wiki/Anonymity

Bitcoin is in Beta
you may want to wait a few years for bitcoin 1.0 to come out, Anonymity might be built-in by then

2
General / Re: Bitcoin
« on: November 20, 2011, 04:53:21 PM »
To anyone who heard the Bitcoin discussion on FTL tonight (Sat, Nov 20), if you want to learn more about Bitcoin, a good starting place is WeUseCoins.org.  Also, if you're ready to buy or sell or store them, I recommend CryptoXChange.com

Many things about bitcoin are unclear to me. For example, Crypto requires that you submit your physical address before performing any trades. Can someone explain to me why that is necessary?

Presumably, if someone wants to use Crypto to buy bitcoins, and then use those coins from their wallet account later for anonymous transactions with other vendors, they shouldn't need any physical address (or the person's name, for that matter).

Also, if the vendor can tell someone's physical address information from a bitcoin address, what would prevent any other party from doing the same?

I'm confused about the claims of anonymity.



That's because it's really not anonymous.

Bit Coin is a scam.
</paranoid but truthful rant>


Bitcoin is anonymous

don't use Crypto, use MtGox that's where all 90% of the bitcoin trading happens and they do not ask for your home address.

vendors would have to look thought the block chain to find your the address you loaded the coins two, and then find out from the exchange site which bank account was used to deposit the money used to buy the bitcoin. (not easy thing to do, you'll need a court order to force the exchange site to give away this info.)

if you want you could make it 100% impossible, for anyone to trace you like this, just send the coins to another wallet once you bought them. in that case the they will hit a dead end when trying to trace a transaction back to you.

compare that to a VSIA or paypal payment.

remember when this happened.

Sony Hacked Again; 25 Million Entertainment Users’ Info at Risk


bitcoin make payments safe, and anonymous.
 



3
General / Re: Bitcoin
« on: November 20, 2011, 03:10:28 PM »
Go see: http://www.thebitcoinreview.com/

It has over 750 bitcoin businesses listed


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