In mybitcoin.com 's terms of service agreement, it is stated that a historical transaction record of an account is kept. This information combined with the Bitcoin block chain, may provide a complete transaction path of a Bitcoin passing through mybitcoin.com - maybe even if you do not even spend your own Bitcoin from mybitcoin.com (that was originally sent to mybitcoin.com).
See: mybitcoin.com Terms of Service Agreement when signing up:
"9.2 Unless ordered by a Court of competent jurisdiction, MYBITCOIN LLC shall not reveal User's contact or identifying information or transaction history to any third party."
It becomes clear that whenever something is centralized, anonymity is lost.
EEEEK!!!! So it turns out mybitcoin.com is just
another corporation!!! [sighs]
I'm at the point in my life now that I'm very distrustful of:
- incorporated companies (why did you file paperwork with the government? Corporations are just creatures of The State)
- closed source implementations (what are you hiding in your code?)
- centralized servers/domains (can be broken into, are easy targets, governments can disconnect easily) instead of p2p
- banking schemes where it might be possible to engage in fractional reserve banking (so I have this money stored at mybitcoin.com, but how do I know you are not lending it out behind my back?)
- transaction schemes where there is no recourse if the transaction is violated
- low reputation
- not mathematically/logially/cryptographically proven
So, yeah, how do I know mybitcoin.com isn't engaging in Fractional Reserve Banking with my stored money?