28 Aug '13, 5pm

Bitcoin Perfectly Anonymous — Until You Spend It

So, you mean if I have a transaction for $576.23 from Bob's Porn emporium, someone can sift through the transactions for $576.23 and figure out that was me? Well, color me completely un-surprised. I'm not sure I've ever believed it was anonymous -- aren't the signatures of everyone who ever spent it tacked onto it? It isn't quite that, but it is more. Most people use the same traceable money pool where you can trace multiple transactions and use that to track people down. It isn't just Bob's Porn Emplorium, but also noting that from the same pool of bitcoins a transaction took place to Steve's Marijuana Farm, Sally's Whorehouse, and Chuck's Supermarket in Podunk, Kansas. That same pool of Bitcoins might have also received money from several people who are also all blood relatives. The point is that each individual bitcoin can be traced from the first work unit where it was...

Full article: http://news.slashdot.org/story/13/08/28/1649207/bitcoin-p...

Tweets

Bitcoin offers privacy -- as long as you don't cash out or spend it

Bitcoin offers privacy -- as long as you don't ...

itworld.com 28 Aug '13, 7am

Not the best way to launder your ill-gotten gains Image credit: flickr/BTC Keychain On the surface, Bitcoin seems to be a ...

Bitcoin offers privacy -- as long as you don't cash out or spend it - PCWorld #bitcoin

Bitcoin offers privacy -- as long as you don't ...

pcworld.com 28 Aug '13, 7am

On the surface, Bitcoin seems to be a great way to hide cash. Actually, it’s a terrible way to launder money. That’s the c...

Bitcoin offers privacy -- as long as you don't ...

pcworld.com 28 Aug '13, 6am

On the surface, Bitcoin seems to be a great way to hide cash. Actually, it's a terrible way to launder money. That's the c...

Bitcoin offers privacy -- as long as you don't ...

pcworld.com 28 Aug '13, 6am

On the surface, Bitcoin seems to be a great way to hide cash. Actually, it's a terrible way to launder money. That's the c...

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