Re:94k Bitcoin (1B USD) transferred from unknown wallet to u...
by toast0 on Monday September 09, 2019 @06:27PM
(#20923165)
You can be careful to not comingle funds or participate in KYC, but you have no forward security --- the person you paid (or their successor payees) can always comingle funds or participate in KYC. At which point, they may recall you paid them.
Also, I can't imagine it's very convenient to manage a large number of separate keys.
Re:94k Bitcoin (1B USD) transferred from unknown wallet to u...
by lixtra on Monday September 09, 2019 @11:35PM
(#20924831)
> Also, I can't imagine it's very convenient to manage a large number of separate keys.
You can have one secret master key and then derive many keys from that [1]. Without the master key you cannot tell that they are linked. [1] https://en.m.wikipedia.org/wiki/Key_derivation_function
Re:94k Bitcoin (1B USD) transferred from unknown wallet to u...
by icebraining on Tuesday September 10, 2019 @03:51AM
(#20925978)
> Also, I can't imagine it's very convenient to manage a large number of separate keys.
A computer can do that for you.
Re:94k Bitcoin (1B USD) transferred from unknown wallet to u...
by perl4ever on Wednesday September 11, 2019 @10:14PM
(#20947114)
I find the more things I do with a computer, the more there are to manage, not less.
...what is a "system administrator" anyway, and why is my computer telling me to ask them for help?
Bitcoin can be used with novel targets (receiving addresses) for each uniquely received transaction: i.e. instead of having one bank account with all your transactions, each transaction is in its own anonymous bank account. By doing this, outsiders cannot know that two transactions are owned by the same person without that owner otherwise revealing the association via co-mingling funds or revealing ownership off-network (ex. sending to exchange that does KYC+AML).