25 Oct '16, 7pm

With TumbleBit, Bitcoin Mixing May Have Found Its Winning Answer

With TumbleBit, Bitcoin Mixing May Have Found Its Winning Answer

Bitcoin right now is not really anonymous . Monitoring the unencrypted peer-to-peer network, analyzing the public blockchain or Know Your Customer (KYC) policies and Anti-Money Laundering (AML) regulations can reveal a lot about who is using Bitcoin and for what. This is not great from a privacy perspective. For example, Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own; similarly, businesses may not want to leak transaction details to competitors. Additionally, the fact that the transaction history of each bitcoin is traceable puts the fungibility of all bitcoins at risk. “Tainted” bitcoins may be valued less than other bitcoins, possibly even calling into question Bitcoin's value proposition as money. But privacy and fungibility can be improved. An older method to break a link of transactions — Co...

Full article: https://bitcoinmagazine.com/articles/with-tumblebit-bitco...

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