Saturday, May 18, 2024

Once you make a Bitcoin transaction, can the receiving individual (and the world?) actually see how a lot cash you’ve got in the whole pockets?

No, you’ll not disclose the whole quantity of your pockets if you make a fee, however successfully you may disclose some information in your bitcoin.

Your pockets has a number of addresses and every one can have acquired a number of fee, when you obtain a fee this quantity will turn out to be an UTXO (unspent transaction output) which you should utilize to make a fee later; so you’ll have some UTXOs in your pockets and if you pay you will need to spend a full UTXO (the quantity you acquired in a earlier fee) not the entire pockets.

For instance, you probably have acquired 4 fee to 4 totally different addresses (0.3, 0.04, 0.61, 0.05 – pockets whole stability 1 btc) and you will need to pay 0.2 btc, you’ll use an UTXO that’s higher than requested quantity, in our instance 0.3 btc UTXO (however you may choose additionally 0.61). So you’ll make a transaction with one enter (0.3 btc) and two output: 0.2 btc for the fee and 0.1 as change that you just obtain on a brand new deal with.

On this case you’ll open up to your counterpart (the one one who know that this deal with is your) that you’ve got not less than different 0.1 btc however not the pockets stability.
Another that see this transaction on blockchain cannot know that this deal with is your and perhaps cannot even distinguish fee from the change, relying on how the transaction is made.

That is the most straightforward scenario and the one wherein you reveal much less information, there are different issue that may reveal a part of your holdings (i.e. for those who use the identical deal with to obtain a number of funds, if you spend from that deal with, you’ll disclose the entire quantity on it, not solely the UTXO you choose) however Bitcoin privateness will not be so easy that may absolutely defined right here.

You’ll be able to learn extra right here:

https://bitcoin.org/en/protect-your-privacy

https://en.bitcoin.it/Privateness

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