posted Fri, 06/05/2020 - 23:06
2321
This is concerning
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Original post from:
This is something we should all take note of. I suspect they would be flagging larger transactions in the same manner that a banking entity might. But the evidentiary possibilities could become problematic for even a small bust. Not to mention the impact this could have on source anonymity.
https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-de...
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Yea don’t use Coinbase in the first place! Shady biz practices for extra $$
Thats why some sources on here use monero this is not trackable
BTC can easily be tracked, everyone thought it was anonymous including me for a long time but it's easily traceable by police or others if they want too.
Even if you buy BTC from coinbase they could track that to an external wallet and so on.
That being said they'd have to target a specific source, if they wanted to take down that source and its customers they'd get the sources BTC and they'd see all the transactions made and track your transaction to whatever wallet you used.
If someone sends you a BTC address to you can input that into the blockchain and see all the transactions for that btc address.
Sources should use monero, as far as I know it's anonymous and can't be linked to anyone.
You can also use a BTC tumbler service, your btc will go through the tumbling service first before it goes to a source, no one could ever track that, they wouldn't know where it came from.
AnonIt is my understanding that Coinbase saves data such as what BTC addresses a user sends BTC to. And it is a good idea to send BTC to another wallet before spending them on certain things. Electrum wallet generates new addresses for you to use. I'm not an expert.
edit
This is the advice I have always followed.
AnonGotta be safe.
Yeah they absolutely save data. You can go to your account and see previous transactions.
Whats concerning here is that they're selling software that allows 3rd parties to monitor activity. It's kinda like placing a listening device on the block chain. I'm w/you btw. Certainly no expert.
This software would expose any bitcoin users not just Coinbase correct?
This is definitely something to keep an eye on.
Yeah your correct mate
So it can flag the transaction but not those involved? I'm hardly a blockchain expert, but that seems suspect.They claim no "personal identifiable information". But anything tied to the banking system could probably be accessible w/a warrant, maybe? idk man, but youre right. It's worth keeping an eye on for sure.