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Comment: Sorry ghost ...

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In post: Bitcoin
In reply to comment: Wrong (see in situ)

Sorry ghost ...

But you are right and wrong at the same time: wallets work with open source encryption (public key encryption).

(Thanks to the comment above here is a good video explaining public key encryption:)

The public key is public but there's no way to be able to trace it back to ones identity. The private key on the other hand is what constitutes the ownership of the wallet- which is important to keep track of. The public key can be changed as many times as you like making what the public believe as if your wallet "vanished". Actually bitcoin Qt the original software does this automatically every time you start up the program. Your private key is what you need to care for the most and you need to keep track of it for it changes after every single transaction.

The moment you change your public key then you changed your identity on the block chain. This whole previous method is part of the system and answers your concern even if an individual keeps the same wallet.

Now if you want to be even more cautious- make a payment to yourself into another wallet or wallets. There would be no way of knowing if you made a payment to someone else or actually just moved money around to another one of your wallets.

It takes time man. I'm still learning. So to end your concern the block chain is open to everyone but no one knows who owns what wallet.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees