The effect of visible or invisible ledger on the security of a coin.

[Brushless4500KV 4214]

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

[Uttom Deb 333]

It is expected that the security of the currency will affect visible or invisible accounts.  The coins that have not been seen will be in good shape.

[sdsonjoy50 886]

I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

[Rahul21 626]

Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

[tienda 8776]

I have already heard or learn in many topics here on Cryptotalk where the people still think that cryhptocurrency or Bitcoin transaction can be tracked! this is not possible because all transaction are anonymous, but yes we need the protection for our wallet of course we need to invest in our protection or they will stole our wallets.

[Sourovdeb890 416]

3 hours ago, sdsonjoy50 said:

I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

I agree with you, I also think we should look at the password and security of wallet and exchange sites when using Bitcoin, I also look into these issues when using my cryptocurrency.

[HammadAli 91]

4 hours ago, sdsonjoy50 said:

I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

Your concern is legit as these things are vulnerable to bad sites. 

[Satya31 865]

I think so. The privacy coins are definitely more safer than bitcoin. They do not reveal any data to the public. But bitcoin show the wallet balance that may help the scammers to target the big accounts and get huge profit. But the security is not less enough to make the bitcoin a bad coin. Though its security is little more weaker than the privacy coins still it is the best to use. And the privacy coins also can be used for dark world crime easily. 

[Shahud 1319]

Yes..ledger wallet affects on the visible or invisible coins wallet.it provide a good security to our coins which we stored in it..and it looks like invisible that hackers can't be hack it.

[Oxygen 1004]

7 hours ago, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

I dont think so that privacy coins are not important as bitcoin is important, If privaacy coins important then why they are not getting up and having a good price as well as high market cap. Peoples only trust bitcoin the most whether it anonymous or not. 

[BTC Future 3946]

A visible ledger means that everyone can take a look at your wallet and find out exactly how many Bitcoins you own. This can be used for malicious purposes by criminals who acquired your data, since 99% of users already sent their ID to someone online (exchange,project). All ID's have been leaked be sure of this. And all addresses are connected with the ID's. These criminals can target Bitcoin owners in various ways, like hacking or extortion.

There are ways to hide and Wasabi wallet offers one with Coinjoin that mixes transactions and create new addresses that can't be traced to the previous owner.

Edited January 21, 2020 by BTC Future

[Afrizal rahman 2636]

I think to avoid hacking we have to tighten the name of our wallet security, so that in order to avoid the name of hacking. Nowadays there are many who experience it in Cryptorency, but I think a Blockchain-based system is definitely safe.

[Crypto123 0]

23 hours ago, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

For me, I believe that the open ledger has two sides, one positive and the other negative, the positive side is that these transactions can be seen by everyone and involved in blogging in the open ledger and the negative side is that hackers or even governments can track all of your transactions. Hence some people use the Mixer service to hide the effect of tracking their Bitcoin transactions because they do not want anyone to see it.

[Brushless4500KV 4214]

20 minutes ago, Crypto123 said:

For me, I believe that the open ledger has two sides, one positive and the other negative, the positive side is that these transactions can be seen by everyone and involved in blogging in the open ledger and the negative side is that hackers or even governments can track all of your transactions. Hence some people use the Mixer service to hide the effect of tracking their Bitcoin transactions because they do not want anyone to see it.

I personally believe that privacy coins like Monero and Zcash can be safer than other coins with public blockchain because they attract less attention. If scammers and hackers can see people's balances and transactions, they can find rich people and target them for later phishing or scamming. This is the first level. The next level is how strong a coin (or blockchain) structure (or protocol) is against hacking. If a hacker can pass these levels, he can access your funds.

[Crypto123 0]

Just now, Brushless4500KV said:

I personally believe that privacy coins like Monero and Zcash can be safer than other coins with public blockchain because they attract less attention. If scammers and hackers can see people's balances and transactions, they can find rich people and target them for later phishing or scamming. This is the first level. The next level is how strong a coin (or blockchain) structure (or protocol) is against hacking. If a hacker can pass these levels, he can access your funds.

So what makes Bitcoin so much superior to coins like ZCash and Monero? These coins can be safer technically as you say my friend, but there are many other factors that attract people to coins. People still prefer bitcoin, despite being less secure in terms of traceability, as well as in terms of high fees and slow transfers across the network. But these problems were solved by the Bitcoin Lightning Network as well as by the Mixer Service.

[Rudro88 371]

In fact, if we make a good deal of security in the wallets that we see in our wallets, to protect the coins, we can protect our visible coins a lot.  And in the case of invisible currencies, there are actually many security measures in the blockchain system which are protected.  So keeping the visible and invisible currency is really very important in crypto currency.

[gigabyteRTX 1583]

Of course, it's better to use or implement a invisible ledger so that your coins or wallet will not be shown or seen by others to avoid being hacked or stolen of coins even in the developers of a wallet it is needed that they implement a invisible ledger.

[bentayebsalah 2280]

The visible or invisible ledger is completely safe and cannot be hacked, even if that was possible for that was done for a while, and for this I do not think it can be hacked or tracked identities

[el-Muhammady 718]

On 1/20/2020 at 2:51 PM, Rahul21 said:

Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

I think we should be concerned about securing our account, for the reason that hackers are at peril of heart hacked for the reason that cryptocurrencies are based online.

On 1/20/2020 at 2:51 PM, Rahul21 said:

Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

I think we should be concerned about securing our account, for the reason that hackers are at peril of heart hacked for the reason that cryptocurrencies are based online.

[Opinder 1310]

On 1/20/2020 at 3:44 PM, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

I think invisible ledger is more safe because hackers mostly hack that wallets which have more amounts. They only want to make efforts to hack for big amounts. And in case of invisible ledger they could not see the amount and hacking chances reduce.

[Xsimple 441]

Well I think what ever happen it will always depend on the credibility of the wallet and how secure it is, it will depend on the code that they use to prevent from hackers.

[Maaz sultan 265]

On 1/21/2020 at 3:58 PM, Yawar said:

Well You do know that is all visible on the public blockchain right? It's not a security issue or a travesty. I think you just don't know how crypto works  If You want to extra tinfoil hat safe........install ledger live on a USB. Then you can store the usb offline and only fire up the wallet when making transactions.

You are right the blockchain security is an secure transaction method and the developers of all the digital currency have to research on their security every day on the crypto world there are many experts which want a way to enter the security of the coin .

[anik_d_n 1]

Only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without.

[Ali_hmwi 966]

On 1/20/2020 at 12:14 PM, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledge

I knoww that there is alot of Confirmation for sure it is good. hackers if they want something they will take it ..

[babaji 1228]

If you hide everything, then you play in to the game of governments, they can easily ban the coin, citing some bullshit reason as money laundering, but when the transactions are visible, then they are assured nothing is hidden. only identities are, and even if they don't like it, they have to find a way to work with it.