Is Malaysia best country for crypto and tax optimization?

[JackAlabama]

its utxo model.
You send the whole⁤ balance and the "change" gets transferred to a new address of your wallet.
So the⁣ change is auto protected since its having a new address than before.

But the address⁢ you initiated it from, its public key is written in the chain for everyone to︀ see (and qc can calc back the private key from it).

The bitcoin addresses are︁ not public keys but derived by one way functions so you cant calc back from︂ this to its private key (unless its public key has been revealed).

Maybe this changes︃ some day tho.

 

[Matade]

Oh, so.

If you withdraw, let's say,

1 btc from Coinbase to your private wallet︁ xyz001
Then you sent 0.5 btc from xyz001 to abc002
Then btc that was in︂ xyz001 and abc002 are safe, since the one in xyz001 was transferred to "change address"︃
HOWEVER
If now you send another btc from Coinbase to xyz001, that is NO LONGER︄ SAFE, because xyz001 was already used once to send initial 0.5 btc to abc 002.︅

Is that correct?

 

[JackAlabama]

yes correct,⁢ its reusing the address. However if you now just forward this to a new address,︀ you still can use it and be good.

Lets say qc was here tomorrow all︁ of a sudden, you could not spend btc any more since qc could rewrite the︂ mempool (effectively stealing your coins). Over time there will be algo changes to make this︃ threat obsolete, but its too far out to start optimizing.
afaik satoshi on the bitcoin︄ forum wrote about this, but i dont remember the details.