30 votes
Accepted

Why can't we fight Bitcoin thieves by not accepting payments from hacked accounts?

Fungibility. Money needs to be fungible, otherwise it's not money at all. Blacklists allow censorship and confiscation of wealth by centralized/powerful players (like governments) which will be ...
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  • 6,208
18 votes

Why can't we fight Bitcoin thieves by not accepting payments from hacked accounts?

It wouldn't work. Imagine if you get to a grocery store and try to pay in cash and they say, "Sorry, your dollars are no good, their serial numbers are on a list of bills that have been stolen". You ...
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6 votes

Why can't we fight Bitcoin thieves by not accepting payments from hacked accounts?

It really isn't possible to create a blacklist of stolen bitcoins. While it is possible to easily trace stolen bitcoins, thieves can utilize a number of services, such as bitcoin mixing services, that ...
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  • 161
5 votes

Why can't we fight Bitcoin thieves by not accepting payments from hacked accounts?

Bitcoin is decentralized. There is no "we" to appeal to even if we wanted. You may be able to convince a miner to not include txs that go to certain addresses. That is their right. But that certainly ...
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  • 7,639
3 votes
Accepted

What are some proposed privacy features coming to the bitcoin lightning network?

I am not sure if I get your question right. Please tell me if not and I shall iterate on my answer. First of all the lightning network indeed has a different privacy model only opening and closing of ...
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3 votes
Accepted

"Dirty" Bitcoins/Find Bitcoin origins?

The tool for complete history of all bitcoin minted already exist and its called blockchain. You can see all history here (random transaction selected) https://blockchain.info/tx/...
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2 votes
Accepted

Reverse wheresgeorge.com for BTCs

Actually, yes, this is possible. However, your payment output might get split or combined with other payment outputs in later payments. Therefore, the graph will be less linear than you suggest: ...
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  • 64.5k
2 votes

What can be done in order to improve privacy in bitcoin transactions?

Pieter Wuille posted an answer earlier today that covers some of what is already being explored in the pipeline for additional privacy. ... but improvements are continuously being worked on (search ...
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  • 3,136
2 votes

Why isn't Bitcoin private by default?

Bitcoins themselves are fungible, but the transaction graph is not. This is a small but important nuance: with properly crafted transactions, bitcoin users can gain privacy, without needing to ...
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  • 17.4k
2 votes

Why isn't Bitcoin private by default?

They are trying to add new features that would help with privacy! There is an upgrade proposal known as Taproot that would come with features to enable additional transaction privacy in Bitcoin. Note, ...
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  • 2,002
2 votes
Accepted

How to verify virgin bitcoin

There is only way way to acquire Bitcoin without a previous utxo associated with them: Mine them. You could pay a miner to mine directly to an address that you control, if you don't have the ...
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  • 16.5k
1 vote

How much bitcoin is being sent to someone else in this transaction?

Generally, there is no information in a bitcoin transaction which indicates the amount being transacted between two parties. An outside observer can view the value of inputs and outputs, but the ...
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  • 17.4k
1 vote
Accepted

Meaning of "fungibility" in "Zerocash (Zcash)"?

With money, privacy implies fungibility. If all transactions that take place using a particular currency is public, then people will know whether some money that someone is sending them was part of an ...
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  • 62.3k
1 vote

What can be done in order to improve privacy in bitcoin transactions?

I can tell you how people's privacy is revealed, so that scammers can be traced often. By considering all points you maximize your privacy while using bitcoin: connect your wallet to your own Bitcoin ...
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  • 301
1 vote

What can be done in order to improve privacy in bitcoin transactions?

yeah, a lot of requirements, where comparison to reality doesn't match. But at first: the question is probably not the right one for this forum - mostly opinion based... IMHO it would find a better ...
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  • 5,026
1 vote

Why can't we fight Bitcoin thieves by not accepting payments from hacked accounts?

More concreteley than the existing answers, and expanding on the point made by @Navin in the comments, the reason is because this would happen: Imagine you're a merchant selling goods by bitcoin. ...
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  • 111

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