Privacy

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A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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Thoughts on Cryptocurrency? (programming.dev)

submitted 8 months ago by actual_patience@programming.dev to c/privacy@lemmy.ml

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I was wondering what viewpoints and opinions this community has when it comes to cryptocurrency.

Personally, I'm not against it, but I'm not for it either. I like the concept of bringing back cash anonymity, and also decentralization (obviously). Although I don't think it will be viable for at least another decade.

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[–] taladar@sh.itjust.works 2 points 8 months ago (2 children)

Just simple thing like that you should (almost) never use an address twice removes a lot of the privacy concerns.

Then how do you connect the incoming money to the outgoing money (and split it up or combine it in the process assuming most income flows do not exactly match a spending flow exactly in value)?

[–] voracitude@lemmy.world 3 points 8 months ago* (last edited 8 months ago) (1 children)

edit: since the well-akshullies are out already, I'll say this is massively simplified because anyone who cares about the actual cryptography or terminology can go read the fuckin docs; it's detail that isn't necessary here.

Wallet addresses are just the public part of a public/private key pair. You can generate another public key with the private key so the address is different, but your private key can still sign transactions for both addresses.

[–] taladar@sh.itjust.works -2 points 8 months ago (1 children)

That is not how public/private keypairs work in most algorithms but even if it was, the fact that the public key is used to verify the signature comes from a specific private key means that both (or all) public keys could validate all transactions signed with that private key.

[–] voracitude@lemmy.world 4 points 8 months ago* (last edited 8 months ago)

I recommend you read BIP-44 since this has been a standard for years in Bitcoin. Your other crypto knowledge seems woefully out of date as well, from your questions in your other post. Time to brush up, I think.

[–] delirious_owl@discuss.online -1 points 8 months ago

Yes, its the change that makes block chain analysis so effective