Bitcoin in itself is not a privacy coin i.e it's not anonymous.
It's better said as to be pseudo anonymous.
Topic: BITCOIN NOT SO ANONYMOUS! (Read 952 times)
I think yes!, using cash for purchases is more anonymous than using Bitcoin "For Now". But confiscable, centrally controlled, easily inflated are the characteristics of fiat money. think about it.
Bitcoin's anonymity depends on a number of factors, but traceability of transactions raises certain doubts as to the level of anonymity. Maybe I'm paranoid and don't understand it, but when I saw transactions on the blockchain website leading from my wallet to other transactions that occurred before coins reached my wallet, I freaked out a little despite the fact that I didn't commit any crime....
Bitcoin is not Anonymous, But its transaction is Anonymous.
Not true, if you know recipient's address, you can track every transaction on explorer...
And it's an accepted standard that you're supposed to change your address for every transaction. It's not convenient but that's a best practice.
A merchant is unlikely to be anonymous anyway, but as a consumer nothing stops you from doing that. It's just a click of a button.
Bitcoin is not Anonymous, But its transaction is Anonymous.
Not true, if you know recipient's address, you can track every transaction on explorer...
You are right. Some people believe Bitcoin is 100% anonymous just because you don't have to enter your name, residence, etc into the system to register and therefore believe that BTC is one of the best currencies for illegal activities, which is doubtful because every transaction is permanently recorded in the Blockchain and can be easily traced. One can always see the origins of every single transaction. So, you're right it doesn't seem to be perfectly anonymous.
As long as your identity never gets linked to your funds, you can't get caught. You are anonymous. Your bitcoin transactions are public.
Cash has its downsides for crime too. For example carrying suitcases full of cash is really obviously sketchy and the police might get suspicious. carrying a laptop computer or a cellphone is not.
Bitcoin funds may be tainted but so can real world funds and cash. In fact almost all US paper currency has traces of cocaine on it. (through touching contaminated bills I'm guessing).
Also cash has serial numbers, people forget about that. If somebody is really after you, bitcoin might actually provide advantages. One of them being that someone has to crack your very mind to steal them from you (if your security is high enough) and since polygraphs are bullshit, as long as you're enough of a badass you can deny that you have any funds or lie about the amount of the funds you have (have half in one private key and half in the other)
Or maybe set up your funds in a way that it's impossible for you to give them up unless a co-conspirator gets caught as well. Then if they kill you, the co-conspirator doesn't get the funds so they are incentivized to bail you out.
Edit: misspelled "you're" as your
You are right. Some people believe Bitcoin is 100% anonymous just because you don't have to enter your name, residence, etc into the system to register and therefore believe that BTC is one of the best currencies for illegal activities, which is doubtful because every transaction is permanently recorded in the Blockchain and can be easily traced. One can always see the origins of every single transaction. So, you're right it doesn't seem to be perfectly anonymous.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Is this a True ?
If you use the same btc address for every transaction then yes it's pseudoanonymous but I think it depends on the wallet service you're using. Many popular wallets like ledger live will automatically generate a new btc address every time you send or receive btc.
Yes, I've noticed that, too: whenever I want to receive BTC, my Ledger generates a new address, BUT I believe it'll ultimately depend on whether or not your payer has a wallet generating a new address, in which case the transaction becomes hard to trace. Otherwise, all your transactions from a non-anonymous payer are potentially traceable
you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Its true, in a way, that if you link your name to address its no longer private. Its big bitcoin flaw currently because i dont think many people want to other people know theirs all buying history. If they using one address for long it will always be privacy nightmare if linked of course to private data. Is this a True ?
Bitcoin developers working on privacy features now.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Is this a True ?
If you use the same btc address for every transaction then yes it's pseudoanonymous but I think it depends on the wallet service you're using. Many popular wallets like ledger live will automatically generate a new btc address every time you send or receive btc.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
It is true. Bitcoin is not anonymous. It is more like pseudoanonymous. Is this a True ?
Anyone can be identified when selling crypto to fiat....
Mean you need some kind of bank account to recive fiat. And bank account is backed by real name.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Is this a True ?
Absolutely. Just go to https://www.blockchain.com/explorer, enter the transaction number to view information about any bitcoin transaction (you can look up yours), scroll down to Visualize -> View Tree Chart and you will see visually all connections between each transaction by clicking every orange dot.
For example, open this link https://www.blockchain.com/btc/tree/372696599 and click the orange dot at the bottom and you will see what I mean. This is what anonymity really is in the blockchain. I hope you've enjoyed
i know that it has traces and to convert it to Fiat, you have to do KYC so in a way, not so anonymous. right? 
As a Bitcoin user I think that this should be common knowledge for us now. BTC is not as anonymous as we think as our transactions are leaving a footprint online as well as our BTC addresses can be link to our names. Even the government authorities of US openly admited that BTC is not being use in criminal activities as often as before because they know how it could easily be tracked and the criminals are now using other cryptocurrencies known for its anonymity.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Anonymous means un indetified names and I don’t think that bitcoin is not anonymous as bitcoin is known to be one of the greatest and the well known investment of the present times and there are many characteristics of bitcoin that made bitcoin so successful and popular that now in present times there are millions of people who are investing into bitcoin and one of its major characteristic is that it provides user anonymity so I think fools are those who don’t find bitcoin anonymous. Is this a True ?
Yes this is true. Anonymity is not an innate attribute of bitcoin transactions, rather, what we have is pseudonymity where you are not required to have your wallets linked to your real world identity. In fact, our wallets and transactions are open for public viewing. One can checkout a wallet's balance and transactions it made. Not so anonymous isn't it?
But it was part of the design for the consensus to be effective. Yet, we are not required to declare personal identification to create a wallet. Thus, even Satoshi Nakamoto himself suggested to use as many wallet as you can to take advantage of this pseudonymity.
As others have said, there are other crypto platforms that can offer you the much anonymity you are seeking for. Have a look at them, it might be a sound option for you
But it was part of the design for the consensus to be effective. Yet, we are not required to declare personal identification to create a wallet. Thus, even Satoshi Nakamoto himself suggested to use as many wallet as you can to take advantage of this pseudonymity.
As others have said, there are other crypto platforms that can offer you the much anonymity you are seeking for. Have a look at them, it might be a sound option for you
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Is this a True ?
Yes, who said that bitcoin is anonymous ? Everyone can see your transaction, where your coin gone, and where it came from. Nothing anonymous at all.
Unless no one know your btc address, everyone can know how much btc you own.
If you want more anonymous, try other privacy coin such as monero.
There’s a big misconception that bitcoin is entirely anonymous. Bitcoin is pseudoanonymous, in the sense that your name is not linked to your bitcoin address, but you still have a bitcoin address that’s static and so it could technically be linked to you.
Is this a True ?
Is this a True ?
Of course. This is common knowledge.
Obviously bitcoin would be pseudoanonymous because of the fact that any transaction on the blockchain can be viewed, and every single address can be viewed and its balance clearly displayed to whoever wanting to see it. In a sense, bitcoin is much more transparent than any of the bank transfer systems.
While some privacy may be lost through this process, it's extremely hard next to impossible to track a bitcoin address alone down to a real life profile, especially if you take some normal privacy steps like not reusing addresses. This is because bitcoin is not centralized, and does not require any KYC, and allows you to have as many addresses as you want. Besides, mixers can be used on the network to obscure your tracks, so bitcoin is definitely still a pretty anonymous way to transact.
Bitcoin transactions are linked to a specific address and, thus, an “identity.” However, that address does not necessarily have to be tied to a real-life identity. That is why Bitcoin is often described as “pseudonymous.” If a user’s Bitcoin address is tied to their real identity, then it is possible to trace activity back to them. If not, it is possible only to trace activity back to their Bitcoin pseudonym.
Even if you reveal your bitcoin address or wallet ID, you can hide the traces of your future transactions. There are mixers services, though I do not give a 100% guarantee, you need to go deeper into this. But at least this option sounds good to hide up your crypto wallet
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