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Peter R. Rizun: "The average user can be their own bank and verify their own transactions with a SPV wallet, that requires no more data than a SMS text message package for a dumb phone in Nepal. This will always be true regardless of how big blocks get. See Section 8 of the bitcoin white paper."
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plain text emails divulge financial transactions of most bitcoin exchange users
Almost all exchanges use email for interactions with their customers, but only one at present (Kraken) allows you to make your financial transactions private by sending their emails encrypted with PGP. This is crazy. It means anyone snooping the net and/or your email provider can easily link your email identity with your money. Forget about Bitcoin being analysed, the email traffic from exchanges is a much simpler target for hackers and governments The emails about transactions, deposit, and withdrawals are sent as 'clear text'. This leaks all the financial information of exchanges customers to almost everybody on the net. No bank ever sends details of customer transaction in plain text emails. Why ? Because it is sensitive information. A good option exchanges could (and SHOULD) add with only very modest development effort, would be to give an option to send emails using PGP to encrypt them if a customer requests that in their profile, and provides their public key. All the underlying software to do this is freely available. After that, it becomes the customer's responsibility to set up PGP for themselves and enable it. That is not very hard these days. There are lots of good guides for PGP and some snazzy tools like Enigmail for Thunderbird that make PGP trivial to use. Do people out there realize what a gaping privacy hole this is in the way most bitcoin exchanges currently work? EDIT: Just allowing me to suppress all emails would be an improvement !! EDIT: Apparently some people who do use PGP a fair bit, are not aware that it really helps to publish your public key for each email address on the key servers at: https://sks-keyservers.net/ You can/should also display them on your web site (under https://) as part of your contact details so that you are not just trusting the key servers. EDIT: This practice of failing to protect customer information is probably illegal in jurisdictions like the EU where there are Data Protection laws. Most other G20 countries also have similar laws. EDIT: Apparently some other exchanges also send encrypted mails ... so the good guys are
EDIT: Bitfinex has become the first major exchange to implement PGP and also sanitized emails since this original post (and being asked to). Seems to be a bug with the implementation, but I am sure they will fix things. Credit where credit is due ... thanks.
CROSSPOST: ADOPTIONBitcoin Cash Now Transacts Through SMS Text Messages https://www.trustnodes.com/2018/03/12/bitcoin-cash-now-transacts-sms-text-messages
Many say bitcoin cash is a scam. Most notably those who solely support Bitcoin core and those who believe what core says without DYOR. But they could not be more wrong. Case in point the above article. Is there any other crypto that has this game changing tech? BCH has much more advance tech coming. Come join us. Its still early. Cross posted in cryptocurrency
Bitcoin Cash Now Transacts Through SMS Text Messages https://www.trustnodes.com/2018/03/12/bitcoin-cash-now-transacts-sms-text-messages
Many say bitcoin cash is a scam. Most notably those who solely support Bitcoin core and those who believe what core says without DYOR. But they could not be more wrong. Case in point the above article. Is there any other crypto that has this game changing tech? BCH has much more advance tech coming. Come join us. Its still early.
If someone exchanged bitcoin for U.S. dollars using a U.S.-based currency exchange, for instance, they might have revealed their identity in connection to that transaction. First time for everything - just received a BitCoin spam text message. — James Scantlebury (@turini2) December 11, 2017 Just received a text msg ‘reminding’ me I have, quote, ‘1 #Bitcoin ... The Bitcoin.com Explorer provides block, transaction, and address data for the Bitcoin Cash (BCH) and Bitcoin (BTC) chains. The data is displayed within an awesome interface and is available in several different languages. The number of bitcoin email scams has been growing in 2020 and the authorities in several countries have warned of new blackmail tactics used in threatening email scams asking for bitcoin. Read the messages that have been stored in the Bitcoin's blockchain or write them yourself. The service also includes a Proof of Existence tool that allows anyone to securely timestamp their files.
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