Bitcoin Whitepaper on Privacy - Reading Assignment

Privacy Coins - Ultimate Course
#302
  1. keeping public keys anonymous
  2. a new key pair should be used for each transaction to keep them
    from being linked to a common owner.
  3. if the owner of a key is revealed, linking could reveal other transactions that belonged to
    the same owner
1 Like
#303

  1. What is the basic method of maintaining anonymity? The BTC whitepaper indicates that the basic method of maintaining anonymity is primarily by keeping public keys anonymous, and by decoupling that public key to any kind of personal identifiers to the individual(s) who are operating it

  2. What additional method does Satoshi suggest? Satoshi suggests that another means of enhancing privacy would be to create a new key pair upon use for each transaction (as a means of preventing people from seeing transactions linked to a common wallet.

  3. What weakness does this additional method have? The weakness is that, of course, if the owner were to be discovered, the multiple links would implicate that owner to said transactions.

1 Like
#304

  1. Anonymity can be achieved by keeping public keys anonymous

  2. Additional method by satoshi is to use a new key for every transaction.

  3. A risk would be if one key was traced to an identity, all other transactions could be linked to the same owner

1 Like
#305

Hello Grant and everyone!

1. What is the basic method of maintaining anonymity?
By using a private key that is hashed to produce a public key, used to approve a transaction sent with a signature created also with the public key and transaction hash.
2. What additional method does Satoshi suggest?
By implementing a new key pair for each transaction to keep them from being linked back to the same owner.
3. What weakness does this additional method have?
With some linking being unavoidable, this shows some transactions being linked to the same owner, risking them being traced back to them.

1 Like
#306

  1. by making sure that your identity isn’t linked to a public key.

  2. creating an additional Key pair per transaction

  3. exposing if you key pair on one transaction will possibly expose the ownership of other transactions.

1 Like
#307

1. What is the basic method of maintaining anonymity?
Privacy can still be maintained by breaking the flow of information, keeping public keys anonymous. The public can see that someone is sending
an amount to someone else, but without information linking the transaction to anyone.

2. What additional method does Satoshi suggest?
A new key pair should be used for each transaction to keep them
from being linked to a common owner.

3. What weakness does this additional method have?
If the owner of a key is revealed, linking could reveal other transactions that belonged to
the same owner.

1 Like
#308
  1. Public Key is anonymous, no one knows who own that address.
  2. Generating a new key pair for each transaction.
  3. In the case that a public key is revealed, linking could reveal other transactions that belonged to the same owner
1 Like
#309

  1. Breaking the flow of information by keeping the public key annonymous.

  2. use a new key pair for every transaction.

  3. the ower of the keys ge get linked together

1 Like
#310
  1. By keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone.
  2. As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner.
  3. With multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.
2 Likes
#311

  1. Breaking certain flow of information keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone.

  2. Using a new key pair for each transaction to keep them from being linked to a common owner.

  3. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner.
    The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

1 Like
#312
  1. What is the basic method of maintaining anonymity?
    By keeping public keys anonymous.
  2. What additional method does Satoshi suggest?
    Use of a new key pare for each transaction.
  3. What weakness does this additional method have?
    Risk is that the owner of the key can be revealed.
2 Likes
#313

  1. What is the basic method of maintaining anonymity?
    Keeping the public keys anonymous.

  2. What additional method does Satoshi suggest?
    Using a new public key for each transaction

  3. What weakness does this additional method have?
    Some linking is unavoidable. Therefore, if an owner is identified with a public key, it will tie other transactions back to the same owner.

1 Like
#314

  1. Maintaining anonymity, public can see the transactions between addresses where the addresses doesn’t hold any personal information.

  2. a new key pair should be used for each transaction to keep them
    from being linked to a common owner.

  3. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner

1 Like
#315

  1. What is the basic method of maintaining anonymity?
    To keep the private key private and hash out a public key.

  2. What additional method does Satoshi suggest?
    Generate a new public key for every new transaction.

  3. What weakness does this additional method have?
    If the owner of a key is revealed, this could be used to link the owner to other transactions

1 Like
#316

1.) The basic method of maintaining anonymity is to keep public keys anonymous. Still, the public can see that one person is sending an amount to someone else, but there is no information that links this transaction to anybody.
2.) The additional method that Satoshi suggests is to use a new key pair for every single transaction. This helps maintain privacy further by unlinking any inputs to a common owner.
3.) The weakness in this additional method is that some multi-input transactions can still be revealed as coming from the same owner. If the owner of this key is revealed, linking could reveal transactions that came from the same owner and are trackable.

1 Like
#317
  1. the basic method of maintaining privacy is you cant link the transaction to the identify the person including the public key as well.
  2. additionally satoshi suggested to change the public key after each transaction
  3. weakness was the multi-input transactions
1 Like
#318

  1. What is the basic method of maintaining anonymity? : By breaking the flow of information in another place: by keeping public keys anonymous.

  2. What additional method does Satoshi suggest? : Using new key pair for each transaction to keep them from being linked to a common owner.

  3. What weakness does this additional method have? : Multi-input
    transactions reveal that inputs were owned by the same owner risking the owner of a key to be revealed linking other transactions to the same owner.

1 Like
#319

  1. Anonymity is achieved by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone.

  2. A new key pair should be used for each transaction to keep them from being linked to a common owner.

  3. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

1 Like
#320

:one: What is the basic method of maintaining anonymity?

The basic method of maintaining anonymity in the Bitcoin Whitepaper is pseudo-anonymous addresses, generated from a hash of a random private key. These address are not tied to any particular identity.

:two: What additional method does Satoshi suggest?

Given that private key’s are able to be generated at will, a sender or receiver of a transaction can generate a new public address for any given transaction if they wish to disassociate themselves from any other (past or future) transaction/s.

:three: What weakness does this additional method have?

Obviously, if some entity wishes to maintain their privacy for several transactions, they will need to maintain several wallets.
For businesses, this can be millions of wallets, and there are inefficiencies for wanting to make subsequent sends for more or less than their receiving UTXO…

For example, if Alice were to send one of Bob’s addresses 0.2BTC, and that address wanted to make a transaction of 0.18BTC to Cathy. The following transaction from that address would:

  1. Connect Alice’s address to Bob,
  2. Mean that Bob still has ~0.02BTC UTXO’s (ignoring tx fees).

And if Bob wanted to be completely anonymous, it would be wise to not make further transactions using that address, because Cathy understands it is Bob already connected to that address and can monitor following transactions. Therefore he would have to part ways with the additional 0.02BTC as dust.

It is far more convenient to sum an amount of UTXO’s from one wallet, and so receive/send inequalities are not such an issue.

1 Like
#321
  1. By keeping public keys anonymous.
  2. A new key pair should be used for each transaction, so to protect the owner.
  3. If a key is revealed, all other transactions of the same owner could be revealed down the chain.
1 Like