As users, do you feel secure with the use of blockchain to protect your privacy?
*Blockchain: decentralized digital ledger which records transactions worldwide. It is transparent (anyone can enter) and it does’t have a central authority (banks are central authorities). Within each chain of blocks there’s a transaction data, timestamp and cryptographic hash (unic fingerprint).
Privacy? The bitcoin blockchain (Not just “blockchain”, it’s a novel data type not a singular immutable sky god) does not have any privacy features. All transactions are fully public and permanent. If you’re concerned about privacy then it’s up to you to find a way of obfuscating your monetary conversions into and out of that chain, or go to a currency that modifies the protocol to prioritize anonymity (eg monero).
You have zero privacy on bitcoin
Not true at all, but it’s also not true that privacy is a defining feature of Bitcoin.
All transactions are visible to all parties. But that doesn’t mean everyone knows what money is going to who.
Are there on ramps that require KYC which effectively removes the privacy? Yes. But not all on ramps require identifying information to be provided.
All bitcoin privacy measures ultimately distill down to security-through-obscurity, which does have practical utility but isn’t true privacy. The word “pseudoanonymity” gets used.
You’re correct.
It’s funny because so many people use this as a gotcha, but again privacy is not really a widely touted feature. Privacy has little to nothing to do with the value of Bitcoin.
All the pearl clutchers better not be using credit cards or bank cards cause I have bad news about privacy there. I often laugh to myself imagining all these buttcoiners as crazy unwashed hermits with their life savings stuffed under the mattress in cash… but we all know damn well these guys are tapping their cards and Venmoing their shit around on the daily while trying to shit talk something they’re obviously not capable of, or not interested in understanding.
Not true at all
All transactions are visible to all parties.
Are there on ramps that require KYC which effectively removes the privacy? Yes.
But no one knows which people has that wallet. So it is like i know what is inside int the room, but i can not know who is the owner
Bitcoin software determines how much money you have by summing all of the historical transactions executed by your key (Wallets don’t actually exist on chain, they’re a construct presented to the user for ease of use). Chances are, all of that money was exchanged at some point from entities pressured by sovereign powers to know and record the identities of those they transacted with (KYC / Know Your Customer laws). Select parties, eg law enforcement or regulatory agencies, can absolutely know who very likely holds most wallets.
You have a totally public wallet with your entire transaction history visible. If you mine fresh coins and never spend them, sure you have a defensible claim to some privacy - if you ever transact then you have no privacy.
Any single transaction will tie your entire wallet history to your identity.
Tell me you have no idea how bitcoin works without saying you have no idea how bitcoin works.
Edit: Hey guys don’t panic but I think I found RFK Jr’s Lemmy account.
Tell me you have no idea how bitcoin works without saying you have no idea how bitcoin works.
I scoured this conversation for any proof of work, or crypto note, but I couldn’t even find coherence for self-consensus, the raft is adrift fated to never reach quorum.
Nice. You can word masturbate all you want. Doesn’t change the fact that you’re wrong, demonstrably so, and so this just makes you look dumb to anyone who understands.
You’re an absolute clown show 😂
But not all on ramps require identifying information to be provided.
