Crypto News & ICO Reviews
A small warning to everyone. Mostly people wanting to trade/dump and/or move BCH for any reason. I have posted this to Bitcoin because this affects Bitcoin privacy even though this is an alt.
The moment the network splits, in about 5 hours, the 2 networks are identical from that point in time. Every transaction and balance is the same.
This creates a privacy problem. Once you start swiping or moving coins it's pretty easy to see what balance belongs to the same person. Let's say you have 3 wallets. Your mobile a) phone, b) cold wallet and and c) Trezor. You start moving all the BCH (or a part of it) to a new address X or to an exchange address Y.
By just looking at these transactions any person can quickly make the assumption: because they all end up in X the wallet/addresses a, b and c are very likely the same person on the "real" Bitcoin network as well.
Best practice would be:
- Consider: Do you really want to trade or act right now? if not don't move yet.
- Do not "stack" different wallets to one single address. Generate new addresses on the exchanges.
- Be aware of the risks.
Even so, some people will be moving Bitcoin-cash that has been idle for years and years. Be aware that Bitcoin is an open ledger.
Thank you for your attention.