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> Privacy > I don't think I need to elaborate this point. I think you do need to elaborate. Bitcoin may need specific actions depending on what one desires an
by hnaiobsession 3y ago
> Privacy
> I don't think I need to elaborate this point.
I think you do need to elaborate. Bitcoin may need specific actions depending on what one desires and what one’s threat model is. But completely dismissing the privacy part is not helpful. I’ve used Bitcoin and other cryptocurrencies for some payments that I wanted to be private. I couldn’t ever have done that with conventional payment systems without more exposure than with the cryptocurrency.
As someone who’s been into some cryptocurrencies and later realized what bitcoiners have been saying all along — I’m a bigger believer in Bitcoin than I was when I started. Not too much on Bitcoin as a currency, but in its potential to hold value over the long term. I haven’t had the chance to try Lightning for payments yet. The other one that I prefer to use for payments is Monero.
- cutty_wise 3y ago[dead]
- jeanloolz 3y agoBitcoin from a privacy standpoint is not good for various reasons. First, if you make a transaction with someone, that person now knows your account and can easily find out your bitcoin balance, all due to the blockchain being public for everyone to see. Second, if the bitcoin account you are using was created on a website similar to coinbase, kraken, binance etc, your personal ID is completely tied to your bitcoin wallets created in those platforms. Of course there are ways to circomvert those but in a general sense and at its core Bitcoin is just terrible for privacy.
- thinkmassive 3y ago> if you make a transaction with someone, that person now knows your account and can easily find out your bitcoin balance What’s an "account" in the context of Bitcoin?
- jeanloolz 3y agoI used the word account but should have used the term wallet, fair point.
- stiltzkin 3y agoTry Lighting in Nostr or Stacker News.