I'm not to tell that the people behind bitcoin & the blockchain was anti-government and central control, but i'm pretty sure they are pro-privacy.

Thus, we were gifted a wonderful treat of pseudonymity where transactions are public yet remained disconnected from our real world identities.  Yes, the world may know the origin (sending wallet), the amount that was transacted and even the destination (receiving wallet).  But that's all there is to it.

Pseudonymous transactions are actual safeguards for us not to be under anyone's surveillance (for whatever purpose it may serve).  The reality of our personal welfare being compromised by watchful eyes that has been proven mischievous over time is evident.

Take for example the "cache & cookies disclaimer" that you have to often agree to when you go online. Disguised as helpful tools to make your browsing experience more relevant but in reality, records your every move, your every activity. And only the gods would know how these information can be used for or against you. Nonetheless, your privacy was breached.

Breach of privacy was a problem of great concern, and great minds understood that it has to be addressed. And as many of us loved the Incognito Mode of Google Chrome, Blockchain brought us pseudonymity for crypto transactions.

The original design was for transactions to remain pseudonymous from end to end, and the public records remained as such until you cash-out.  It is here that we lost the pro-privacy gift of the blockchain.

The moment you cash-out your bitcoin to a bank or an exchange or to any other means that requires a real world identity, pseudonymity is lost. Satoshi's rally for privacy goes down the drain. Your identity is uncovered. They can already trace your bitcoin wallet address and all other wallet addresses you transacted with.

The effort of pseudonymity is lost. But is there really a way out? Can we really remain pseudonymous to continue the blockchain's rally for privacy?