Keep in mind this is the similar premise as claimed to be offered by BIP37 
bloom filters, but faulty assumptions and implementation failure in BitcoinJ 
have meant that bloom filters uniquely identify the wallet and offer no privacy 
for the user no matter what the settings are. If you imagine a system where 
there is somehow complete separation and anonymization between all requests and 
subscriptions, the timing still leaks the association between the addresses to 
the listeners. The obvious solution to that is to use a very high latency mix 
network, but I somehow doubt that there's any desire for a wallet with SPV 
security that takes a week to return results. 


> Sent: Friday, July 24, 2015 at 4:26 AM
> From: "Eric Voskuil via bitcoin-dev" <bitcoin-dev@lists.linuxfoundation.org>
> To: "Stefan Richter" <rich...@cs.rwth-aachen.de>, gb <kiw...@yahoo.com>, 
> "Thomas Voegtlin" <thom...@electrum.org>
> Cc: bitcoin-dev@lists.linuxfoundation.org
> Subject: Re: [bitcoin-dev] Making Electrum more anonymous
>
> 
> From our perspective, another important objective of query privacy is
> allowing the caller make the trade-off between the relative levels of
> privacy and performance - from absolute to non-existent. In some cases
> privacy is neither required nor desired.
> 
> Prefix filtering accomplishes the client-tuning objective. It also does
> not suffer server collusion attacks nor is it dependent on computational
> bounds. The primary trade-off becomes result set (download) size against
> privacy.
> 
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