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BitLicense Is Not a Game Changer as Bitcoin Was Never Truly Anonymous

As the BitLicense drama continues to roll out since last year, it has been a rough time for bitcoin startups working with the cryptocurrency. While some companies have filed a patent, others were forced to retrieve operations in New York and form an opposition to fight the licensing.

One of the most important concerns regarding the license is that the government may require bitcoin companies to store information about transactions and bitcoin owners. Virtual currency anonymity is crucial because anonymity is one of the most important properties of any currency as neither the buyer nor the seller requires knowledge of its history.

Attacks to de-anonymize transactors range from highly sophisticated attacks on a single user to hacker attacks in which little effort and sophistication is required to de-anonymize broad groups of individuals. The government sees a differ ...

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