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Crypto bros., why isn't there an encrypted blockchain to avoid third party tracking?
Posted on 2/17/22 at 11:47 am
Posted on 2/17/22 at 11:47 am
Right now I can get on a blockchain and follow a wallet and all of it's transactions. And if I were computer savvy enough I could link a IP address to said wallet. Then from there I could narrow down that IP address to a particular person.
Is there an encrypted version of a blockchain available where only the buyer and seller can see the transaction?
Maybe I'm not asking the right question. Is there a blockchain available that cannot be tracked by a third party such as IC officials or hackers?
Is there an encrypted version of a blockchain available where only the buyer and seller can see the transaction?
Maybe I'm not asking the right question. Is there a blockchain available that cannot be tracked by a third party such as IC officials or hackers?
This post was edited on 2/17/22 at 11:48 am
5
Posted on 2/17/22 at 11:53 am to GumboPot
You talking bout Monero?
Posted on 2/17/22 at 11:54 am to GumboPot
use a cold wallet
Posted on 2/17/22 at 11:54 am to Captain Rumbeard
quote:
You talking bout Monero?
Not familiar with Monero. Do I need to get familiar with it? Sounds like it.
Posted on 2/17/22 at 11:54 am to GumboPot
Monero
ZCash
Grin
among others
ZCash
Grin
among others
Posted on 2/17/22 at 11:55 am to Sooner5030
quote:
use a cold wallet
But once I get back on the blockchain by cold wallet address is visible.
Posted on 2/17/22 at 12:01 pm to Captain Rumbeard
Just went to the Monero website.
I knew the solution to third party tracing was available I just didn't know what that solution was.
Now the Canadian Truckers can just transact in Monero and on and off ramp in Monero to break the tracking chain.
I knew the solution to third party tracing was available I just didn't know what that solution was.
Now the Canadian Truckers can just transact in Monero and on and off ramp in Monero to break the tracking chain.
Posted on 2/17/22 at 12:02 pm to GumboPot
Yeah privacy coins are what you are talking about.
Posted on 2/17/22 at 12:08 pm to Ross
quote:
Yeah privacy coins are what you are talking about.
So the IC would be able to track USD>Bitcoin>USD.
But the tracking can be broken at the Monero stage by USD>Bitcoin>Monero>USD?
Posted on 2/17/22 at 12:48 pm to GumboPot
I think that’s true so but I’m not an expert into how well privacy coins work. You might have an issue going from Monero to dollars so you might need to move the Monero around a little bit, transfer it to stablecoins, and then transfer the stablecoins to dollars
I imagine this is all happening on a decentralized exchange. If it isn’t it really should
I imagine this is all happening on a decentralized exchange. If it isn’t it really should
This post was edited on 2/17/22 at 12:50 pm
Posted on 2/17/22 at 12:51 pm to GumboPot
The future is in heavy metals, not crypto.
Posted on 2/17/22 at 12:51 pm to GumboPot
It will be easier for them to just freeze or shut down the places where you can turn crypto into fiat.
Posted on 2/17/22 at 12:54 pm to LSUbest
quote:
The future is in heavy metals, not crypto.
You cannot easily send large amounts of heavy metals across the world in a matter of seconds so I seriously doubt it
might be prudent to keep some metals around for some dystopia where the internet ceases to exist I guess, so it’s not entirely an either/or problem
This post was edited on 2/17/22 at 1:03 pm
Posted on 2/17/22 at 12:58 pm to Ross
quote:
I think that’s true so but I’m not an expert into how well privacy coins work. You might have an issue going from Monero to dollars so you might need to move the Monero around a little bit, transfer it to stablecoins, and then transfer the stablecoins to dollars
Yeah, all I meant is getting Monero or some other private coin in the flow to block tracing.
quote:
I imagine this is all happening on a decentralized exchange. If it isn’t it really should
Wallet activity is easy to follow on defi. It's how these whale notifications websites work. It's also how Mark Cuban's wallet was traced back to his purchase into Olympus DAO.
Posted on 2/17/22 at 12:59 pm to GumboPot
I’m just a DeFi shill because CEXs are not much better than banks as it stands tbh
Posted on 2/17/22 at 1:01 pm to Oizers
quote:
It will be easier for them to just freeze or shut down the places where you can turn crypto into fiat.
All countries would have to get on board with this. IMO there will always be countries that won't play with the globalists.
Heck, right now I believe Russia does transactions with many small counties in XRP to avoid the US dollar and SWIFT transaction fees. Maybe this is why the US is so mad at Russia right now.
Posted on 2/17/22 at 1:04 pm to Ross
quote:
I’m just a DeFi shill because CEXs are not much better than banks as it stands tbh
I totally agree. I've just used CEXs to onramp. I haven't had to convert my crypto to fiat yet and offramp. I may never have too.
Posted on 2/17/22 at 1:12 pm to GumboPot
monero holders finna eat
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