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Bitcoin and anonymity cointelegraph

June 3, 2020

Before the beginning of the digital age and the beginning of the Internet, as many of us know it today, one of the greatest concerns of specialists was the privacy and security of digital data. When you send information over a network of networks where everyone can use a “listener” to collect or monitor all the information you produce, it is advisable to take the privacy and security of our networks seriously. Take this personal concern in business, industrial or military situations and you will see paranoia explode.

This behavior is understandable, after all we want to keep control of our data and prevent outsiders from accessing it. Nbsp; For example, can you imagine that a company can monitor everything you say, write or do on your smartphone? The truth is that this happens, it happens now and all the time. Tools like Google Assistant, Amazon Echo or Google Home are clear proof that this happens more often than you think. Devices that record what you say and do and then store this information on a server that is remote from you.

Of course, behind a whole contract full of technical details that we do not read, and in the end we simply accept, because without it we cannot use the device. These companies protect themselves on the assumption that they use this information only for the purpose of improving their products and that the information is never made public. You can also destroy them at any time. Yes, of course you have the option of deleting these records and even restricting this action. However, the options are so hidden that you have to become an expert on the platform to find them. iquest; Why é make such an option so difficult?

A much deeper problem

Bitcoin and anonymity cointelegraphBitcoin and anonymity cointelegraph

However, the privacy issue doesn’t end here. In fact, it’s just the tip of the iceberg. Communication companies can, for example, create usage profiles of your activities on the Internet, sell this information to third-party companies and then sell or use this information to bombard you with advertising, tailored to your taste and profile. This is not even a new problem. Do you remember the times when you were called on the phone at home to offer you products and services? Bien is the grandfather of the practice that many Internet operators and companies practice today. Only the current digital age offers you new tools and more information than before.

The problem becomes more serious with cases that even escalate and affect the world, after all it is connected to the world. And the problem becomes more serious if governments themselves create structures to monitor their citizens and change fundamental rights such as privacy in the interests of “security and the well-being of society”.

Still, it seems like a horror story that privacy is dead, or at least this terrible violation. In this sense, iquest; Qu é What can we do to improve our privacy? Well, Bitcoin and cryptocurrencies are looking for just that. They offer you the opportunity to regain control of your money, to use privacy, and to protect the data you generate from being used. The ultimate goal is to regain lost privacy, one block at a time.

Bitcoin must be anonymous or is useless

Despite all of this, many people think that the project is simply useless if Bitcoin is not really anonymous. This view often leads to heated debates as to whether anonymity should actually be an intrinsic property of Bitcoin or whether it should be an optional property instead. Today, Bitcoin’s approach has turned anonymity into an optional property that depends on external factors.

iquest; But is that bad? Not really. And the simple defense of this position is that complete anonymity is utopian and unattainable in a digital world. For example, a Monero user can boast of the high confidentiality of Monero. Granted, Monero is strictly confidential and anonymous. However, if that user uses a lightweight Monero wallet by connecting to a server in that wallet, they will leave it. a no doubt trace that is left as evidence that it is a user of that currency. A situation that will make you lose your anonymity while maintaining your privacy (because they cannot know what your transactions are). nbsp;

This means that Monero is of course not used to protect anonymity. Monero does his job, the weakness of anonymity in this example is in another element outside of this project.

The same situation is repeated in Bitcoin. Bitcoin may not be very confidential and anonymous. However, this does not mean that the project is useful and protects our privacy and identity to a high degree. If we want more protection, we can do it with little difficulty and without sacrificing our security or that of the network. After all, a completely veiled network isn’t necessarily a more secure network, but the opposite is a recipe for disaster.