04-28-2021, 05:08 PM
No, Bitcoin is not private, anonymous or untraceable.
<!-- SC_OFF --><div class="md"><p>There is a common misconception, that I thought I’d clear up. It is that Bitcoin is untraceable, private and anonymous. Bitcoin is very much traceable. I can easily track that $10 I used to pay for pizza, for as long as I want to. It may be a slight pain in the ass, but there are blockchain explorers that you can use to track BTC as is goes from wallet to wallet. Bitcoin is “anonymous”. You don’t not have a name or location linked to you as long as you do not send the crypto to a centralized exchange such as Gemini, Coinbase ect, or basically any KYC exchange. Because from that moment, all transactions that can be tied to your wallet(s) can be tied back to you. If I sent 1 btc to Gemini, they can see the whole path of where that BTC came from, and where it went. And so can anyone who has the wallet address. So the government and law enforcement, can track you. Also let’s say, you pay someone .01 BTC for some tires, they can then check your wallet balance, and come and rob you (in person). So if you want privacy, use XMR (for no one to be able to trace you) or ZEC for only LE to be able to track you. </p> <p>Bitcoin is only as private as you make it. You can stay under the radar and anonymous if you don’t send it to KYC exchanges. And not spend that crypto/tell people your wallet address. </p> <p>TLDR; Bitcoin not totally private and very traceable. If you want privacy get XMR, ZEC. If your gonna commit a crime use XMR, on second thoughts, just don’t commit the crime
</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KingOfNumismatics"> /u/KingOfNumismatics </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n06f0k/no_bitcoin_is_not_private_anonymous_or_untraceable/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n06f0k/no_bitcoin_is_not_private_anonymous_or_untraceable/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>There is a common misconception, that I thought I’d clear up. It is that Bitcoin is untraceable, private and anonymous. Bitcoin is very much traceable. I can easily track that $10 I used to pay for pizza, for as long as I want to. It may be a slight pain in the ass, but there are blockchain explorers that you can use to track BTC as is goes from wallet to wallet. Bitcoin is “anonymous”. You don’t not have a name or location linked to you as long as you do not send the crypto to a centralized exchange such as Gemini, Coinbase ect, or basically any KYC exchange. Because from that moment, all transactions that can be tied to your wallet(s) can be tied back to you. If I sent 1 btc to Gemini, they can see the whole path of where that BTC came from, and where it went. And so can anyone who has the wallet address. So the government and law enforcement, can track you. Also let’s say, you pay someone .01 BTC for some tires, they can then check your wallet balance, and come and rob you (in person). So if you want privacy, use XMR (for no one to be able to trace you) or ZEC for only LE to be able to track you. </p> <p>Bitcoin is only as private as you make it. You can stay under the radar and anonymous if you don’t send it to KYC exchanges. And not spend that crypto/tell people your wallet address. </p> <p>TLDR; Bitcoin not totally private and very traceable. If you want privacy get XMR, ZEC. If your gonna commit a crime use XMR, on second thoughts, just don’t commit the crime
</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KingOfNumismatics"> /u/KingOfNumismatics </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n06f0k/no_bitcoin_is_not_private_anonymous_or_untraceable/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n06f0k/no_bitcoin_is_not_private_anonymous_or_untraceable/">[comments]</a></span>Kind Regards R