LUXEMBOURG RESEARCHERS FIND A WAY TO UNMASK BITCOIN USERS

One of the stated strengths of Bitcoin has, from the beginning, been its ability to provide anonymity and a sense of security on the same level that cash transactions do. When one spends and is paid in cash, the only real record of the transaction which ties the spender to the cash spent is in the spender’s possession and recording of a receipt. 

Bitcoin works in much the same way although a verifiable ledger called the Blockchain exists to keep the system in working order. That is, the Blockchain can be used to verify that X coins were received by Y address, and thus Y has the ability/right to spend X with Z.
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