The best way to protect your privacy is to do business under a pseudonym. That way, your bitcoin address is tied to your pseudonym (which can gain reputation, just as in the "real" world), but your pseudonym is not tied to your real identity.
How to do that because as far as I know there is no walets I can use at this time that one can get under a pseudonym. I mean all the services like for example Mt.Gox or Blockchain, or whatever it may be, require every one that signs up for their services to use their legal name and also show legal documentation proving the name your using to hold the account with them is your actual traceable legal name.
So I do not see how one can use a pseudonym. Did I misunderstand you or something
