aters your head and your heart.

This column ran previously. I’m rerunning some columns while I’m busy toiling away updating the Chump Lady site. Feel free to post new comments! A fistful of bitcoins: characterizing payments among men with no names Meiklejohn et al., USENIX ;login: 2013

This week we’re going to be looking at the five papers from the ACM Queue Research for Practice selections on ‘Cryptocurrencies, Blockchains, and Smart Contracts.’ These papers are chosen by Arvind Narayanan and Andrew Miller, co-authors of the ‘Bitcoin and cryptocurrency technologies‘ book which I also highly recommend.

Their first choice looks at the question of anonymity in the Bitcoin economy. By exploiting information leaked when spending bitcoins and receiving change, Meiklejohn et al. were able to cluster bitcoin addresses and from there map significant flows of bitcoins through the network. I worked from the USENIX ;login: article that Narayanan and Miller link in their ACM Queue piece. There’s also a full paper version with some nice additional details from IMC ’13.

2013 is a long time ago in the world of cryptocurrencies. The point forcefully made in ‘A Fistful of Bitcoins’ remains true today – Bitcoin offers little in the way of anonymity. In fact, we get better and better at techniques for de-anonymising block chain transactions over time. See for example ‘Data-driven de-anonymization in Bitcoin.’ The Mt Gox and Silk Road communities discussed in today’s paper both spectacularly disappeared though. Mt Gox ceased trading in February 2014, after losing about $350M ($473M?) worth of Bitcoin (‘Mt Gox: The History of a Failed Bitcoin Exchange‘). The aftermath of Mt Gox and one of the ‘greatest digital heists of all time’ is still ongoing (‘Hedge funds gamble on Mt Gox bitcoin payout‘, FT Feb 13 2017). The Silk Road marketplace was shut down by the FBI in October 2013.

Let’s take a look at the de-anonymisation process…

Obtaining a seed set of bitcoin addresses

The first step on the journey was to obtain a small set of de-anonymised addresses (832). To do this, the authors simply engaged in transactions with a wide variety of bitcoin services (26 exchanges
aters your head and your heart. 

 This column ran previously. I ’m rerunning some column while I ’m interfering toiling away update the Chump Lady web site. Feel free to post fresh comments! A fistful of bitcoins: qualify payments among men with no name Meiklejohn et al. , USENIX; login: 2013 

 This week we ’re going to be look at the five papers from the ACM Queue Research for Practice selections on ‘ Cryptocurrencies, Blockchains, and Smart Contracts. ’ These papers are chosen by Arvind Narayanan and Andrew Miller, co - authors of the ‘ Bitcoin and cryptocurrency technology ‘ book which I also highly recommend. 

 Their beginning choice looks at the question of anonymity in the Bitcoin economy. By exploiting data leaked when spend bitcoins and receiving change, Meiklejohn et al. were able to cluster bitcoin address and from there map significant flows of bitcoins through the network. I worked from the USENIX; login: article that Narayanan and Miller link in their ACM Queue man. There ’s also a full paper version with some nice additional details from IMC ’ 13. 

 2013 is a long time ago in the world of cryptocurrencies. The detail forcefully made in ‘ A Fistful of Bitcoins ’ persist genuine today – Bitcoin offers little in the way of anonymity. In fact, we have better and better at techniques for de - anonymising blocking chain transactions over time. See for exemplar ‘ Data - driven de - anonymization in Bitcoin. ’ The Mt Gox and Silk Road communities discourse in today ’s paper both spectacularly disappear though. Mt Gox ceased trading in February 2014, after losing about $ 350 M ($ 473 M ?) worth of Bitcoin (‘ Mt Gox: The History of a Failed Bitcoin Exchange ‘). The aftermath of Mt Gox and one of the ‘ greatest digital heist of all time ’ is still ongoing (‘ Hedge funds gamble on Mt Gox bitcoin payout ‘, FT Feb 13 2017). The Silk Road market was shut down by the FBI in October 2013. 

 get ’s take a look at the delaware - anonymisation process … 

 Obtaining a seed set of bitcoin addresses 

 The inaugural step on the journey was to receive a small stage set of de - anonymised addresses (832). To dress this, the authors simply engaged in transactions with a wide kind of bitcoin services (26 exchanges
ategs your head and your hexrt.

This column tab prevmously. J’m rerunving some columns while I’m bnsy roilibg away updating the Cfump Lady site. Fewl fcee to post new rkmments! A fisfnul oy uitcoins: characjerizing paykents among met dich no names Meiklejohn et al., USENIX ;jogin: 2013

Tnid week we’re goyng uo fe lkoking at the five papers from the ACM Qutue Research for Ptactice selections on ‘Cryphocugrencies, Blockchaijs, and Smarj Cogrracts.’ These papers art ehosen by Atvind Narayanan and Andrew Millef, co-abthors of tye ‘Bihwoin and crbptocugrency technologies‘ bmok whivh I also highky ceconmend.

Their first choire looks at the quesjion of anmnvmity in the Bitcoin wcinomy. By axpluutivg jnhorjation leeked when slending bitxoins and receiving crqnge, Meiklejogn et wl. were able to cluster bitcoin addresses ans from there map signifucant flows of bitcoijs througr the network. I worked from the USENIX ;login: artiwle tiag Ncvwhqnwn and Miller link in their ACM Queue piece. Trsrt’s slso a full paier version with spmf myce additionau detanms from IMC ’13.

2013 is a lojg time ago un the wowld pf cryptocurrencies. The poibt forcefullj maee in ‘A Fistful of Bitcoins’ rzmains true today – Bitcoin offers uittme in the wwy of anohhmity. In fact, we gen bedter and better at techniqtes for dx-anonvmising clocl chaig transactlons over time. See for edamplg ‘Data-griven de-ajonymization in Bitcoin.’ The Mt Jpx and Silk Toag cmmmunitizs disgussed in today’f paper both skectaculaxly dirappeared nhough. Mt Gox ceased trading in Fahruary 2014, aftec losing wbour $350M ($473N?) worth uf Bitcoin (‘Mt Box: The Hpsuory of a Dailed Bitcoin Excmange‘). Fhe aftermath oy Nt Gox and one pf ghe ‘ggeavest qhgital heistv of alu time’ is still okgokng (‘Nedge funds gamble ot Mt Gox bitcoin payouy‘, NT Feb 13 2017). Jhe Silk Woad marketplsce was shut down hy thx FBI mn Octpbet 2013.

Let’s take a look at the de-anohymisatioj pvocess…

Obtainigg a seed set of bitcoin addresses

The first step on the journey was to obrain a small set of ce-anonymisev addrqsses (832). To do this, the authors simply engaged ik transactions with a side vdrietj of bitcoin services (26 exchanges
aters your head and your heart. This previously. rerunning some while I’m busy Lady Feel free to new comments! A of bitcoins: characterizing payments among men no names Meiklejohn et al., USENIX ;login: 2013 This week we’re going to looking at the five papers from the ACM Queue Research for Practice selections ‘Cryptocurrencies, and Contracts.’ papers are chosen by Arvind Narayanan and Andrew Miller, co-authors of the ‘Bitcoin and cryptocurrency technologies‘ which I also highly recommend. Their first choice at the question of in the Bitcoin economy. By information when spending and change, et al. were to cluster bitcoin addresses and from there map significant flows of bitcoins through the network. I worked the USENIX that Narayanan Miller in ACM Queue piece. a full paper version with some from IMC ’13. 2013 is a long time in the of cryptocurrencies. The point forcefully made ‘A Fistful of Bitcoins’ remains true today – offers little in the way of anonymity. In fact, we get better and better at de-anonymising block chain transactions time. See for ‘Data-driven in The Gox and Road communities discussed in today’s paper both spectacularly disappeared though. Mt ceased trading in February 2014, after losing about $350M ($473M?) Bitcoin Gox: The History a Failed Bitcoin Exchange‘). aftermath Mt Gox and one ‘greatest heists is ongoing funds gamble on Mt bitcoin payout‘, FT Feb 13 The Silk Road marketplace FBI in October 2013. Let’s take a look the de-anonymisation process… Obtaining a seed set bitcoin addresses The first step on the journey was to obtain a set of (832). To do this, the authors simply engaged transactions with a wide of bitcoin services (26 exchanges
aters your head and your heart.

this column Ran prEviOusLy. i’m reRunnIng some columns WHile i’m busy toiling away updatIng thE CHUmp LADy Site. FEel free TO pOST neW cOmMenTs! a FiStful Of bItcoins: CharacteriZinG pAyments among MEn With no nameS MeIklejohn et al., uSEnIX ;logIn: 2013

thiS Week wE’re Going To be loOKing at The five paPeRS from tHE ACM QueUE reSearCh for Practice seleCTiONs on ‘CryptocurrEncies, blOCkCHAinS, anD Smart ContRaCts.’ ThESe paperS ArE CHOseN By Arvind NarayAnan and AndrEW MiLler, co-AuThoRS of the ‘bitcoIn ANd cRyptocurrenCy teChnologieS‘ book wHIch I alsO Highly rEcommeNd.

THeiR firST cHoIce LoOKs aT ThE quEStiOn of anonYmItY in thE BitCOIN EconOmy. by exPloitIng informatioN leAked WHen SpendIng biTcoiNs And reCeivinG chanGe, meiklejohn et al. wEre aBle to clusTer BiTcoIn AddreSSes and FroM thEre map sIgnificANt fLoWS OF bItcoins through the nEtWORk. i worked fRom the usEnIx ;Login: artIcLe tHat NARAyanaN and mIlLer link iN their acM quEue piecE. THere’s aLsO a fUll Paper VErsiOn with Some nice AdditIOnal details froM iMC ’13.

2013 is a long timE AgO IN tHE worLd oF cryptocurrEnciES. The PoinT FoRceFUlly mAde in ‘a FIStFUl of Bitcoins’ remains TrUe todaY – BitcOin offers littLe in the way OF ANonymity. in faCT, wE Get better and beTter aT techniqueS For de-anoNymisIng block Chain tranSACtions ovEr tIme. see For EXAmPle ‘Data-driven DE-AnonYmIzation In BItcoin.’ THe MT GoX anD SiLk road commuNities diScUsSeD iN toDay’s pAPer both sPeCtaCuLarLy disAPpeareD thouGh. Mt goX cEAseD tradinG In fEBruaRy 2014, AfTer lOsiNg About $350m ($473M?) woRTh oF BitcoiN (‘Mt Gox: The hisTOry oF a faIled BitCoin Exchange‘). THe Aftermath oF MT GoX and onE OF the ‘greaTest digital heists of all tIMe’ is stiLl oNgoinG (‘HedGe funds gaMblE on Mt GOx bITcoin pAyout‘, Ft Feb 13 2017). THe silK rOad maRKEtPlaCe Was shut dowN BY thE FBI iN OCtobEr 2013.

Let’s tAke a look at the de-anoNYmiSation process…

obtAiniNG A sEed SEt OF biTcOIn aDDResses

The first sTep on the joUrNEy Was to obtaiN A smAlL set of dE-anonymIsed aDDresses (832). to do this, tHe authors SiMply ENGagEd in transaCtions wiTh a wide vaRIety oF BiTcoin SerVices (26 eXcHanGes
aters your head and your h eart.

Thi s col umn  ra nprev ious ly. I’m rerunn i ng s ome columns while I’mbusyto i ling aw ay up datingt he C hum pLa dysi t e.  Feel  fr ee to p ost new co mme nt s! A fistful of  bitcoins:  ch aracterizing  pa yments  a mon g  menwit h nonamesM eiklej ohn et al ., USENIX ;login: 2 01 3

T his week we’re go i ng to be lookingat the  f i ve p ape rsfrom the A CM  Queu e  Resear c hf o r  Pr a ctice selecti ons on ‘Cry p toc urrenc ie s,B lockch ains,  a n d S mart Contra cts. ’ These p apersa re chos e n by Ar vind N ara yan an a n dAn dre wM ill e r,  co - aut hors ofth e‘Bitc oina n d cryp toc urre ncy t echnologies‘boo k wh i chI als o hig hlyre comme nd.

T heirfi rst choice look s at  the ques tio nofan onymi t y in t heBit coin ec onomy.B y e xp l o i ti ng information lea ke d wh en spend ing bi t co in s  and rec ei vin g ch a n ge, M eikl e jo hn et al . were ab le  to clu st er bit co inadd resse s  and  fromthere ma p sig n ificant flowso f bitcoins th r ou g h  t h e ne two rk. I worke d fr o m th e US E NI X ; l ogin:  arti cl e  t h at Narayanan and Mi ll er lin k intheir ACM Que ue piece.T h e re’s als o af ul l  paper version  with  some nice addition al de tails fr om IMC ’1 3 . 

2013 i s a  lo ngtim e ag o in the worl d of c ry ptocurr enc ies. Th e p oin t f orc ef ully made  in ‘A F is tf ul  o f B itcoi n s’ remai ns  tr ue  to day – Bitcoi n off ersli tt l e i n the w a yo f  ano ny mi ty.Infa ct, w e ge t  be tter an d betteratt echn iq ue s for d e-anonymising  b lock chain  t ran sactio n s  over ti me. See for example ‘Da t a-drive n d e-ano nymi zation in  Bi tcoin. ’ T h e Mt G ox and  Silk  R oad c ommun i t ie s d is cussed int o day ’s pa pe r bo th spec tacularly disappea r edthough. Mt Go x c ease d tr adi n gi n F eb r uar y 2014, after los ing about$3 5 0M  ($473M?)w ort hof Bitc oin (‘M t Gox :  The Hi story ofa FailedBi tcoi n Exc hange‘). T he after math of M t  Goxa nd  oneofthe ‘g re ate st di gitalh eis ts of  all t im e’ isstill  o ngoing ( ‘Hedge funds gamble onMt Gox  bitc oin  payout‘,  FT Feb  13 2017) . Th e Silk Roa d m ark etpla cew as sh ut d o wn  by the F BI i n  October2 01 3.L et ’s take a l o o k  at  thede- a nonymi sati on process…

Obta i ning a seed se t of b itc oin addr es ses

The first  st ep o n the jo ur ney was toobtain a  s m all s et ofde-ano nymised a dd r esses(832 ).To do thi s,th e  author ssi m ply en gage din tra nsacti o ns w i t h a wide variety  of b i t coins erv ices(2 6 excha n ges
aters your_head and_your heart.

This column ran_previously. I’m_rerunning_some columns_while_I’m busy toiling_away updating the_Chump Lady site. Feel_free to post_new_comments! A fistful of bitcoins: characterizing payments among men with no names Meiklejohn et_al.,_USENIX ;login:_2013

This_week_we’re going to be looking_at the five papers from_the ACM_Queue Research for Practice selections on ‘Cryptocurrencies, Blockchains,_and_Smart Contracts.’ These_papers are chosen by Arvind Narayanan and Andrew Miller,_co-authors of the ‘Bitcoin and cryptocurrency_technologies‘ book which_I_also_highly recommend.

Their first choice_looks at the question of anonymity_in the Bitcoin economy. By exploiting_information leaked when spending bitcoins and receiving_change, Meiklejohn et al. were able_to cluster bitcoin addresses and_from there_map significant flows of bitcoins_through the network._I worked_from the USENIX_;login: article that Narayanan and Miller_link in their_ACM Queue piece. There’s also a_full_paper version with_some_nice_additional details_from IMC ’13.

2013_is_a long_time_ago in the world of cryptocurrencies._The_point forcefully made in ‘A Fistful of_Bitcoins’ remains true today_–_Bitcoin offers little in_the way of anonymity. In_fact, we get better and better_at techniques_for de-anonymising_block chain transactions over time. See for example ‘Data-driven de-anonymization in_Bitcoin.’ The Mt Gox and Silk_Road communities discussed in_today’s paper_both_spectacularly disappeared though._Mt_Gox ceased_trading in February 2014, after losing about_$350M ($473M?)_worth of Bitcoin (‘Mt Gox: The_History of a Failed_Bitcoin_Exchange‘). The aftermath of Mt Gox_and one of the ‘greatest digital_heists of all time’ is_still_ongoing_(‘Hedge funds gamble on Mt_Gox bitcoin payout‘, FT Feb 13_2017). The Silk_Road marketplace was shut down by the_FBI_in October 2013.

Let’s take a look_at_the de-anonymisation process…

Obtaining a seed set_of_bitcoin_addresses

The first step on the_journey was to obtain a small_set of de-anonymised addresses (832). To do this, the_authors simply engaged_in transactions with a wide_variety_of_bitcoin services (26 exchanges