Re: Should Bitcoin merchants help to keep our identity private?
I have watched some videos on Youtube today and they were speaking about Crypto currencies and ways to track Crypto
currency users, through services that they use. Is this the weak link in the privacy chain? Should we ask Crypto currency
merchants to "change" their receiving addresses more frequently to make it more difficult to pin a specific address to a
specific service? If these people want to track all our financial transactions, then we should give them some challenges in
doing this.
Obviously not all services will adhere to this call/request, but some of these merchants still support the bigger cause and the
reason why most of us use Crypto currencies.
{Some degree of financial privacy}
currency users, through services that they use. Is this the weak link in the privacy chain? Should we ask Crypto currency
merchants to "change" their receiving addresses more frequently to make it more difficult to pin a specific address to a
specific service? If these people want to track all our financial transactions, then we should give them some challenges in
doing this.
Obviously not all services will adhere to this call/request, but some of these merchants still support the bigger cause and the
reason why most of us use Crypto currencies.
{Some degree of financial privacy} If you have joined an exchange which requires you to submit valid ID's and legal documents before they can approve your account then your records will be kept by the exchanges in conformity with the AML and KYC regulations. Of course it is not the merchants who will expose you identity but the exchanges and the central banks. The submitted documents will also be sent to the central bank and thus if your income or profit in btc is questionable the exchange will be ordered by the AML commissions to conduct an investigation.