Is Malaysia best country for crypto and tax optimization?

[JackAlabama]

Do you mean, when you send BTC to a private address, you don't send parts of BTC FROM that address? Or if you do, you send parts of BTC from that address, but then you need to send the leftover to a fresh address? How does this work?

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 to see (and qc can calc back the private key from it).

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

Maybe this changes some day tho.

 

[Matade]

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 to see (and qc can calc back the private key from it).

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

Maybe this changes some day tho.

Oh, so.

If you withdraw, let's say,

1 btc from Coinbase to your private wallet xyz001
Then you sent 0.5 btc from xyz001 to abc002
Then btc that was in 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 LONGER SAFE, because xyz001 was already used once to send initial 0.5 btc to abc 002.

Is that correct?

 

[JackAlabama]

Oh, so.

If you withdraw, let's say,

1 btc from Coinbase to your private wallet xyz001
Then you sent 0.5 btc from xyz001 to abc002
Then btc that was in 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 LONGER SAFE, because xyz001 was already used once to send initial 0.5 btc to abc 002.

Is that correct?

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