Excerpt
I explain how you can keep your privacy and hide the total amount of bitcoin you own in the transparent Bitcoin network. Watch now to learn about the important privacy measures that help you avoid surveillance and other potential threats.
Transcript
How can you avoid that someone sees how much is on your UTXO or on this relevant Bitcoin address? You can’t do anything about that, that’s exactly the point. Bitcoin is transparent, it’s pseudonymous, it’s not totally anonymous. So you don’t need to connect your ID, or your name, or your email address to use self-custodial bitcoin but if you, for instance, send out that Bitcoin address on Twitter and you use your name for Twitter then everyone knows that this is your Bitcoin address. So you can’t avoid that. So there are some privacy things that we all have to consider and, for instance, it’s very important to not send your Bitcoin address out on the internet and to always use a new address for a new transaction. So don’t reuse a Bitcoin address because what happens is that if more people use the same Bitcoin address of yourself then you can see that in the Mempool. So all the transactions that are sent to this address, you can see the amount received, the total amount received, and it also allows chain analysis companies, surveillance companies basically to find out, like through statistical calculations to estimate who is behind this Bitcoin address and these are all things we don’t want. So never reuse an address and don’t share your real name with any of your Bitcoin addresses.
