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How to stack coins

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How can I hide my bitcoin transactions to protect anonymity?

I read many related questions about the pseudo-anonymity and bitcoin transaction tracking.

So if I understand correctly, bitcoins, or better, transactions can be tracked for their entire lifetime.

Example user case:

  1. I buy bitcoins from Mt.Gox
  2. I send some bitcoins here and there
  3. Now I decide to send 50 BTC to a person (Bob) who did a job for me, in the hope that nobody finds out about my deal.
  4. Bob changes the 50 BTC recently received in dollars through Mt.Gox

Now, if I'm right, it is possible to track back the transaction to me, since all transactions are public. And so everyone knows that part of the money changed by Mt.Gox was used to pay Bob and that he changed them back

to dollars.

This is true as long as my address and Bob's address is also known.

Is there some way to break the transaction history of the bitcoins from Mt.Gox? I mean, for example, would it be possible for Bob to transfer the 50 BTC to Mt.Gox from an unknown address that was never used, so it can't be associated to my address? Or is it possible to send bitcoins only from the reveicer address?

Situation when using the same address to receive and send bitcoins:

[Mt.Gox] ==> [Me] == [Bob] ==> [Mt.Gox]

Situation with new generated addresses:

1. [Mt.Gox] ==> [Me]

2. [Me] == [Bob]

3. [Bob] ==> [Mt.Gox]

In short, how to hide where bitcoins came from? I read there is a way to generate new addresses and send through them. Is that true?

Category: Bank

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