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Ognjen Regoje

I make things that run on the web (mostly).
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Lack of privacy is a big weakness for cryptocurrencies

I’ve recently had this non-epiphany. Crypto might have anonimity but it certainly doesn’t have privacy. Given an address you can see all transactions that address has been involved in.

When someone transfer money to your bank account they just deposit it. They might get access to your name but that’s it.

When you transfers coins to someone, that is when you make a payment, the recipient now knows all your transactions.

I suppose there are several ways that you could mitigate that.

You would have multiple addresses, of course, but then you would eventually have to connect them in one way or another.

You could tumble your coins whenever you receive them. That basically means you’d be laundering money every time you receive it regardless of whether it’s legitimate or not just so that you could preserve your privacy. Plus, could you really reasonably expect a user to do that?

#opinion #product