Poll

Choose up to Four Options for June's Tuesday Stand Alone Just Jack Shows

Selecting and Understanding Bullet Types for Hunting, Practice and Tactical Use
71 (4.3%)
Aquiculture for Protein Production
140 (8.5%)
Your First Year on a New Homested - Taking Actions without Regretting Them
285 (17.4%)
Eating like a king on an Below Average Income
277 (16.9%)
How to Get Started with Bitcoin - Setting Up Accounts, Sending, Receiving, etc.
182 (11.1%)
Building Resilient Children is a World of Wusses
196 (12%)
The 12 Planks of Modern Survivalism - A Revisit 8 Years After I First Created Them
200 (12.2%)
Four Years of Flux - The Rapid Changes Between Now and 2020
288 (17.6%)

Total Members Voted: 458

Voting closed: June 01, 2016, 04:32:17 PM

Author Topic: Choose the Tuesday Shows for June 7, 14, 21, 28  (Read 15510 times)

Offline ModernSurvival

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Re: Choose the Tuesday Shows for June 7, 14, 21, 28
« Reply #30 on: June 07, 2016, 10:20:12 AM »
BitCoin is not untraceable. Every transaction ever conducted via BitCoin is part of the blockchain and available to anyone. It can always be traced.
The reason it's favored by those looking to be undetected:

This is simply untrue, you can almost always see that BTC went from wallet a to wallet b but knowing who owns the wallet can be very public or almost impossible to know.

MORE

By using protocols like zerocoin, a btc transaction can be broken into thousands of tiny parts and sent on thousands of paths and reassembled at the other side.  This is like multiplexing on steroids.  Done this way there is almost know what to know what happened, how it happened, where it went, etc. 

I kind of wish BTC had won a spot in June because there is SO MUCH misinformation about it.

Offline I.L.W.

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Re: Choose the Tuesday Shows for June 7, 14, 21, 28
« Reply #31 on: June 08, 2016, 12:24:39 AM »
Quote
By using protocols like zerocoin, a btc transaction can be broken into thousands of tiny parts and sent on thousands of paths and reassembled at the other side.  This is like multiplexing on steroids.

Lol, I didn't even think of that. You're right. The method of tracing BitCoins is dependant on following exact values, and assumes the wallet can be identified (which it often can, but that's not a given). I completely forgot about tumblers... had a brain-lapse for a moment there, didn't mean to mislead anyone. ;)  Re-reading my comment, I hung far too much on the theoretical.

I was coming at it from more of a "post-Silk-Road-cleanup" approach where one party was complicit in exposing data from the other. For a 3rd party to trace BitCoin is difficult to say the least.

I would amend my statement from "it can always be traced" to "any transaction could possibly be traced", and acknowledge the likelihood of that happening as extremely remote for most transactions.

Doing so means preemptively installing a forged security certificate on the computer used, and broad packet-capturing (via a proxy most likely, but perhaps on the ISP end). Authorities with a warrant could possibly do this (I don't know the legalities there), but if they can view the transfer from the side that initiates it, they can determine the end-point and work through the mess of tumblers. That will establish "Party A sent X number of Bitcoins to Party B", but not necessarily show anything more than that. Theoretically possible, but the logistics of pulling it off make it extremely unlikely.

I didn't want to reinforce the idea that it's "100% untraceable" for fear of giving people a false sense of security. But virtually all methods of tracing it are dependant on preemptive action against a specific machine used in the transaction. To reduce risk here, people could simply load a virtual machine from a clean install (VirtualBox is free and works well for this), then route through Tor (also not "untraceable", but adds a huge depth of complexity).

Also use something like DNSCrypt. Non-onion links resolved through your ISP create "DNS leaks" which can identify information which can be correlated to BitCoin Transactions indirectly. This type of surveillance is really just following a trail of digital breadcrumbs. The more you leave in your wake, the easier it is to pin down what you're doing. DNS leaks play a surprisingly large role in that, and very few protect against them. 

But yeah, unless you're running a multi-billion dollar drug trade and have the feds hunting you, nobody will realistically be looking into the transaction.