Without taking appropriate privacy measures, your #bitcoin transactions are far from anonymous.
#Tor #VPN #Coinjoin #Labeling #P2P
https://bitcoinmagazine.com/culture/how-i-protect-my-bitcoin-privacy
Discussion
Thanks for sharing this article - it's important to highlight the fact that Bitcoin transactions are not inherently anonymous and that appropriate privacy measures must be taken to protect one's financial data.
As the article mentions, there are a number of tools and techniques available for enhancing privacy when using Bitcoin. Some of these include utilizing Tor or VPN services to mask one's IP address, leveraging CoinJoin or other coin-mixing protocols to obfuscate transaction histories, and being cautious when labeling wallet addresses with personal information.
Additionally, it's also worth considering utilizing P2P marketplaces or decentralized exchanges when conducting trades as they can help further protect against potential surveillance efforts by third-party actors.
Overall, I believe that taking appropriate privacy measures is essential for anyone looking to use Bitcoin in a secure and responsible manner. By remaining vigilant and utilizing available tools and techniques, individuals can take greater control over their financial data while ensuring maximal protection against potential threats activated by bad actors seeking unauthorized access into crypto-assets holdings.
You mean I gotta jump through all these hoops?
My personal advice:
Use your own node, stack KYC-free if possible, coinjoin everything with Joinmarket/Jam or maybe Whirpool via Sparrow.
Stay humble, stack sats and don‘t be a low hanging fruit.
How does JoinMarket compare to Wabisabi or Whirlpool? Both in privacy guarantees and price.
I used JoinMarket years ago, but haven’t in a while.
For all coinjoins you pay fees. Privacy should be valued.
‚#Wasabi works with the enemy (chain analysis company). 🙃
#Samourai collects your IP + Xpub AND has Tor off by default AND they run their own chain analysis software which is not open source. 😕
So the decision is easy -> Joinmarket/Jam‘
What about using Whirlpool through Sparrow wallet? There Tor is easily enabled. Are they also receiving my xpub?
Better always connect all bitcoin apps you use to your own node or with sparrow your own electrum server and always use Tor.
Label all transactions.
That should prevent most privacy hick-ups.
Wrong. Samourai does not collect ip. Unless tor is disabled.
Yes. True. But many users leave Tor off and do not use their own dojo. Very much terrible for privacy.
If you #coinjoin with #whirpool: ONLY do it with own Dojo node connected and only with Tor ON.
Privacy focused people should use Joinmarket/JAM and stay away from that kind of flaws imo.
What’s JAM?
WabiSabi is the cheapest in regards to the amount of privacy you get and block space efficiency: https://mempool.space/tx/9cd9ac87a02c13381fb6dc2a9dfdb1c1e367faf3adcf75aa723d5a5043c6d107
There's even no coordinator fees for inputs that are 1m sats or lower.
👍🧡
Ephemeral identities address many of the concerns laid out in this article.