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Bitcoin is traceable. This means that it does not provide privacy. Note that cash is also traceable in edge cases thanks to serial numbers. Bitcoin is defini
by wuest 14y ago
Bitcoin is traceable. This means that it does not provide privacy. Note that cash is also traceable in edge cases thanks to serial numbers.
Bitcoin is definitely anonymous. Consider: a wallet has no PII attached to it, beyond what you give it via transactions. Contrast this with a credit card, which typically has PII as an integral part of the way it operates.
- pyre 14y agoA bitcoin wallet without transactions is useless[1]. Transactions are how you put bitcoins into it, and how you use bitcoins to pay for things. If you create a wallet, but never use it to transact anything, it doesn't do you much good. [The exception here being mining. I don't believe that you release PII as a miner, yet you bring in bitcoins.]
- wuest 14y agoThis is true. There are ways to transact which don't compromise your identity. They are a pain; it's a trade-off. To your point at [1], I am not aware of any way which mining can compromise PII.