Bitcoin is terrible for privacy. Every transaction you make is distributed in a global database and preserved for all eternity. If you want privacy you're much better off with a real privacy-coin like ZCash or Monero.
Agree that on-chain transactions are terrible for privacy.
Bitcoin currently provides pseudo-anonymity - you can create a new address pair that's not connected to any identity. Using it in such a way that allows the address owner to remain anonymous both today and at any point in the future is near impossible.
Most of the work going on on bitcoin these days is to improve privacy and increase scalability.
The excitement and progress made around this work to bring privacy to bitcoin lead me to agree with Arthur - bitcoin is humanity's best hope once cash is gone.
Do you mean monero? Cause every transaction on the bitcoin blockchain can be seen by everyone so every can pretty much see what's in your wallet. Monero doesn't have this problem.
4 comments
[ 3.4 ms ] story [ 22.0 ms ] threadBitcoin currently provides pseudo-anonymity - you can create a new address pair that's not connected to any identity. Using it in such a way that allows the address owner to remain anonymous both today and at any point in the future is near impossible.
Most of the work going on on bitcoin these days is to improve privacy and increase scalability.
The excitement and progress made around this work to bring privacy to bitcoin lead me to agree with Arthur - bitcoin is humanity's best hope once cash is gone.