Crypto is NOT Anonymous!


Crypto is not anonymous, and never has been, and claims that it is or was misunderstood, or misrepresent what crypto is or how it works.

What part of "public blockchain" is confusing or not understood? Every transaction's amount, source, and destination are traceable, can be, and is, tracked. Everyone can see the history of everyone participating, how much they own, and every transaction they ever conducted.

True, there is no "directory" correlating those addresses to individuals, but given sufficient data, the IRL identity of everyone involved can be deduced.

Governments and Criminals alike spy on Crypto Holders and track their every transaction. Large Crypto holders are meticulously tracked, and their moves inform thousands of buying and selling decisions. We call it "Whale Watching."

Blockchain transactions are not private and are only accidentally anonymous, which has given rise to so-called Privacy coins.

One example is Monero (XMR).

Privacy is an ongoing arms race, and developers continually research and improve all aspects of privacy. Unfortunately, no software can ever be guaranteed to be 100% bug-free, and no privacy mechanism can be 100% guaranteed. Bitcoin is NOT private. Monero MIGHT be today but won't be tomorrow, certainly not once the world learns the techniques used by the authorities to bust the Monero shield. Crypto is not private, and determined investigators will always ensure that Crime Does Not Pay.

https://www.wired.com/story/bitcoin-seizure-record-doj-crypto-tracing-monero/

0 views0 comments

Recent Posts

See All