Technology

59495 readers

3050 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

260

How a 27-Year-Old Codebreaker Busted the Myth of Bitcoin’s Anonymity (www.wired.com)

submitted 10 months ago by kalkulat@lemmy.world to c/technology@lemmy.world

89 comments fedilink hide all child comments

"This is the story of the revelation in late 2013 that Bitcoin was, in fact, the opposite of untraceable—that its blockchain would actually allow researchers, tech companies, and law enforcement to trace and identify users with even more transparency than the existing financial system."

you are viewing a single comment's thread
view the rest of the comments

[–] kent_eh@lemmy.ca 40 points 10 months ago* (last edited 10 months ago) (1 children)

but it may be imposible to link that wallet with an actual person.

Impossible using the blockchain itself, but not as impossible when you add more traditional investigative techniques to the mix.

[–] 7heo@lemmy.ml 10 points 10 months ago* (last edited 10 months ago) (1 children)

Provided that the exchanges are cooperating (voluntarily or by law).

Why do you think NK and other "impenetrable" countries are so fond of it? It provides them with the means to monetize something otherwise pretty useless: their relative independence and the resulting potential for secrecy.

They are turning into new-age Swiss banks, keeping anyone's private ledgers private. For a hefty sum.

And one does not need a strong currency to achieve that: other cryptocurrencies are also perfectly usable.

[–] webghost0101@sopuli.xyz 0 points 10 months ago* (last edited 10 months ago) (1 children)

People don't need an exchange either. Someone can create a physical paper wallet with no copy of its keys and who ever holds it owns it.

Organized crime has existed for a while, the boss rarely gets their hands dirty and the grunt isn’t involved and in the know enough about the bigger crime to be charged too harshly if their part in it was discovered.

[–] 7heo@lemmy.ml 1 points 10 months ago* (last edited 10 months ago)

The point of the exchange in that context is to have a separate ledger. That is, to hide parts of the information, so that it is then impossible to relate information otherwise public.

You cannot do that with a paper wallet. A wallet (cryptographic material) and a ledger (a collection of transfers - the blockchain being an example of one) are totally unrelated.