Airbrushing Your Bitcoin Transactions – Bitcoin Mixers and CoinJoin

Although bitcoin addresses are composed of randomly generated hexadecimal characters, which are unrelated to one’s id, anyone can see each and every transaction on the public ledger, so the flow of bitcoins from an address to another along the blockchain is visible to everyone. Solely, the hexadecimal characters of a given address can never be used to identify the person using it to send or receive bitcoins. However, a bitcoin address can be linked to a specific individual based on past transactions via blockchain analysis, Googling btc addresses, surveillance and hacking with extraction of addresses. Most professional bitcoiners use a new address for each incoming and outcoming transaction to minimize tracing and endorse the anonymity of their transactions.

So, how can you completely “anonymize” your bitcoin transactions and cover any traces that can link your bitcoin address to your real identity?

Effacing Bitcoin Transactions:

The blockchain has been scripted in a manner that ensures that the history of all transactions is broadcast on the public ledger. Conjecturally, one can choose which coins to spend and generate new addresses to minimize the amount of leaked information that can be used to trace the spender. However, the current bitcoin-qt wallet doesn’t fully support this, yet

Read more ... source: TheBitcoinNews

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