Post
Topic
Board Bitcoin Discussion
Re: MtGox database leak: why you should always mix your coins.
by
AnonyMint
on 11/03/2014, 09:39:41 UTC
Anonymint: we are not discussing being safe against a global adversary such as the NSA, we all know that mixers + Tor is probably not enough to defeat them because of honeypots, timing attacks, deep packet inspection, etc...

We are discussing using basic security procedures in order not to be "the low hanging fruit" and thus being reasonably safe against the casual hacker/criminal doing trivial blockchain and network analysis to easily link identities to BTC balances. For that purpose running your wallet through Tor and using a decentralized and trustless mixer such as coinjoin should be enough.

The government and the criminals are sometimes one in the same.

But (uninformed) trust is all that is holding up the $150 trillion in fractional reserves, so you won't find too many people that subscribe to my view (yet). They will learn by 2020.

And you did not address my technical point about CoinJoin, which has nothing to do with the NSA.

In short, we are pretty well f8cked approaching the 2016ish global conflagrapocalpyse.


Adam Back (the creator of Hashcash which Bitcoin is based on) explains the anonymity problem (jump to 24:25 mins into the video).