https://www.coinbureau.com/news/bitfury-unveils-technology-track-bitcoin-transactions/
While they say they are doing this in order to track crime on the blockchain, many view it as an invasion of privacy on the network which leads to mistrust in other participants.
What are your views? Do you think that it is more indication that users should consider privacy conscious coins?
While they say they are doing this in order to track crime on the blockchain, many view it as an invasion of privacy on the network which leads to mistrust in other participants.
What are your views? Do you think that it is more indication that users should consider privacy conscious coins?
I was unpleasantly surprised a year or two ago when I realized that part of Bitfury's R&D was into blockchain analysis. It should come as no surprise that blockchain analysis is maturing as so much money continues to flow into Bitcoin and other coins.
But naturally, I no longer view Bitfury as a company to root for. They're working with the enemy now.
There are other coins for some less public transactions, Bitcoin was never meant to be, and it's fine that way.
I don't think that's entirely true. I think that the privacy implications weren't entirely clear at the outset. The norm of using change addresses (including multiple change addresses per transaction) was obviously privacy-oriented. I think the point of Bitcoin's design was transparency, but I don't think that Satoshi necessarily intended for it to degrade user privacy.