What is the point of wallet transparency? Do you think this is against anonymity?

[Brand1 1336]

What distinguishes the cryptocurrency is that it hides the identity of the people who are doing the transactions, but as you mentioned, anyone can know the content of the wallet for another person and I see that this poses a great danger to people who have large sums. Therefore, it is better to put a specificity of the wallet that prevents others from knowing How many currencies contain

[Saj555 2250]

You got an interesting point. But however it is possible that someone can see the amount of your total cryptocurrencies. But they will not be able to crack your funds if you maintain a high security into your walleta. The wallets are meant to be protect your money. And awareness about securing money can actually give you a good vibe and also a good idea to avoid scamming from the hackers. 

[Thekingcallme 1975]

I think it is like seeing a gold coin behind an unbreakable glass and this does not affect the privacy of your Bitcoin currencies as long as they cannot be reached

But you will be targeted if you own a lot of bitcoin and this is the only drawback

[George10 9932]

On 12/20/2019 at 8:10 PM, Brushless4500KV said:

e main problem with this transparency is that it makes wallet owners with high amount of cryptocurrencies more prone to scamming and hacking because scammers will usually scam those who have more money. Is there any way people can disable this feature? How can you prevent other people from seeing your wallet balance?

I'm ready to hear your ideas.

Sure you are right this transparent of our wallet balances is not comfortable as it can invite scamers or hackers to begin compromising our wallets especially to those with large holdings and in my opinion I think this can't be prevented or maybe in future they will find means of covering up this wallet transparent on blockchain.

[Brushless4500KV 4214]

2 hours ago, George10 said:

Sure you are right this transparent of our wallet balances is not comfortable as it can invite scamers or hackers to begin compromising our wallets especially to those with large holdings and in my opinion I think this can't be prevented or maybe in future they will find means of covering up this wallet transparent on blockchain.

Transparency is not just a feature of bitcoin. There are many other coins with visible blockchain networks. There is nothing we can do to hide our transaction details with these coins. The only solution available is to make transactions with privacy coins because their networks are totally hidden and no one can see any details. However, transparency of bitcoin has some positive outcomes too. It lets people to know when there is a transfer of an extremely large amount of money in the network and this can help to identify money laundering.

[Ismoney 230]

I understand that most of this accounts that are created are mostly anonymous while some give an option to login with a username. However, every genuine dealer should be able to explain the source of funds though the transaction details most times are available in non-private coins and tokens in the blockchain.

[BitcryptoHan 2557]

If we talk about wallet, there is nothing like anonymity, but privacy can be fully maintained if properly used. It is the transparency that makes transactions not to be anonymous in any way because it can be tracked. 

[gloria10yqj 27]

On 3/7/2020 at 6:31 PM, jacker said:

hmm, I understand what you're saying. I think this feature you can not disable it, nor can you prevent others from seeing the balance. I don't know how to hide my balance. sorry you

Exchanges were observed and all past withdrawals have been linked to an individual. Exchanges are providing data to agencies and almost everything is being investigated if necessary. No one could see the balance in the wallet address and on remittances as I thought, the options are available to everyone.

[Yomose 3704]

No wallet is anonymous, if a wallet has been created and have not made any transaction, then it is anonymous, but ones he received or send a coin using an address then it is not anonymous. Transactions are transparent and private. 

[gloria10yqj 27]

On 3/19/2020 at 8:56 PM, Honny143 said:

Yes you say right bro transparency is most important our account realiy help to see our account details, because what we do our account and so many follows our account, when we transparent our account because some don't believe in this idea but we are lloyaliy then we this type .

Bitcoin may not be your thing if you are concerned about anonymity. Exchanges were observed and all past withdrawals have been linked to an individual. Exchanges are providing data to agencies and almost everything is being investigated if necessary. like a digital bank where customer identification is completely under their supervision. They have to give some speed to cryptocurrencies.

[Moaz 7239]

Frankly, I do not know precisely if there is a way to prevent seeing the balance in your wallet. Maybe you need to direct this question to a blockchain technician, but in my opinion anyone can see transactions in the blockchain, but he cannot determine the wallet that the money went to.

[gloria10yqj 27]

On 5/30/2020 at 4:27 PM, magd said:

I was surprised, just like you, when I learned this information, but since the beginning of the work in encryption, I have not put the address of my portfolio on any unreliable site or platform so as not to be stolen and the only solution to get rid of this transparency is not to put any address of your wallet on untrusted sites such as telegram bots

The authorities can know what your wallet is since exchanging where you bought it knows your identity and know which wallet you have withdrawn and can track all your transactions. You are sure, no coins can be added to the system and the numbers are always kept constant, because everything is transparent.

[Yomose 3704]

On 7/6/2020 at 4:36 PM, Moaz said:

Frankly, I do not know precisely if there is a way to prevent seeing the balance in your wallet. Maybe you need to direct this question to a blockchain technician, but in my opinion anyone can see transactions in the blockchain, but he cannot determine the wallet that the money went to.

You can see transactions in the blockchain using blockchain explorers but that does not mean it is linked to you balance, no one can see your balance. Only tour transaction history can be known, that is why it is advisable to change addresses for each transaction, and the public key should be well kept and never revealed to anyone but you. 

[Albany1209 210]

        Clearer how you raised the situation of the transparency of the wallets, impossible, really! This has always been a problem and there is a way to deactivate the function and prevent anyone from seeing your balance, as there is not. What I do is have several wallets and every so often I change the private keys.

[ghasem13 12]

I do not think there is a way to prevent this, but the positive point is the high security of the wallet and it can not be easily hacked

[sofiaqq 25]

I think that it one of the best thing in the wallet because traditional currencies are some dirty and this transparency are good.

[Brushless4500KV 4214]

14 hours ago, Leo72ar said:

Hi! How are you? It is an interesting point that you raise. I believe that anonymity is guaranteed, although in the medium term it may change. Countries are developing regulations in this regard and this characteristic may be affected. Greetings!

There is no guarantee for anonymity when your wallet asks for your personal information. How can you expect to keep your privacy when someone else has access to your most vital data such as bank account, name and identification card. Anyone who has this info can threaten you because he can use them in a way to cause you trouble. For the time being, the only real anonymous way to deal with crypto is to buy privacy coins like Monero.

[Khan 1414]

On 12/26/2019 at 4:03 AM, lucky80 said:

True at first place. But today all exchanges required an identity. People have to expose their privacy to gain big money. 

 

And where we can cash out this privacy coin? Maybe the only solution is to be open and accept the regulation. Don't be afraid if we the good guy.

if the method you are using for investment or withdrawal is not anonymous then you will be targeted by many haters, governments officials and other unknow peoples. 

[cryptovlek 2597]

Probably it is against anonymity. It is the reason many people don't like Bitcoin beacuse it is traceable. There is coinjoin that mixes transactions from many wallets and exports into new ones making it difficult or impossible to track the previous wallets, so the new ones can't be identified or linked to someone.

[bogdanoff 3173]

It is the only problem I find, there are people that don't care but I think that most people don't want everyone to have access and look at how much they have in their bank. It is better to have this number private. It would be better to have privacy in our transactions too.

[SuperCrypto 7193]

There are several ways to hide your balance, which is to allocate a wallet to deal with strangers so that you transfer your coins to it when you want to send it to others. You can also use it to receive their coins on them. And keep your main wallet your own and nobody knows its general address.

[percare 3192]

I don't know how this was in the past but from what I have read there wasn't anything about anonymity of transactions. It is something I don't like either and transparency is important in some cases but not when it is about our finance.

[yonkii 3205]

I am an advocate of privacy and that money we own should be private, hidden from the public and not able for others to see how much we have, because knowing this, the next step will be trying to get their hands on them. So this will mean danger for many people as criminals or scammers will try to steal the funds perhaps even with physically trying to intimidate the owner to provide the private keys and passwords. 

It is a big risk in my opinion and I learn there are some ways with software that is called mixer that is mixing many bitcoins from different addresses and gives back to the owners different addresses that were not used before with variables in the bitcoin amount. This can help owners hide their stack from anyone looking and having bad thoughts, but these mixing services are also dangerous sometimes as some were proven to be scams. Coinjoin is a good one from what I am reading.

[zhoutong 2188]

I would prefer anonymity and this is a reason I support privacy coins too. It is an important value to have in the internet that is all about surveillance and direct breach of our civilian and human rights. Bitcoin can help us in many ways and I know that there are ways to counter this right now. Also with the Lightning network it is expected to have better anonymity in our transactions.

[kryptonick 2659]

You are right about that. We are in dangers of scammers and wallets get traced and reach a name even by scammers as they hold databases and connect usernames, forum credentials and wallets given by anyone. It is not easy with transparency and it comes to research done to find anything in the blockchain.