Quote from: un_rank on April 11, 2023, 07:22:46 PM

Quote from: Kryptowerk on April 11, 2023, 07:10:06 AM

However, I'd be very careful with the statement "Bitcoin helps with financial privacy" <- I'd go as far as to say for 95+% of Bitcoin users this is not true, actually the opposite. As soon as you buy from a KYC exchange or get your identity linked in any other way with your BTC, you are more transparent than ever before.

That is not a direct influence of Bitcoin but from the use of 3rd party services. Bitcoin keeps you pseudo-anonymous, if you use an exchange and submit your private details, you break that anonymity yourself.

Quote from: Kryptowerk on April 11, 2023, 07:10:06 AM

...Bitcoin is in-itself not private at all with its open-ledger and the complete visibility of all transactions ever made, including the funds sent and senders and recipients' addresses.

Addresses have no identity linked to them. Transparency does not break your pseudo-anonymity.

- Jay -

I clearly stated that this does not matter for 95% of folks using BTC for the reasons I mentioned.
Yes, Bitcoin is pseudonymous, however if you get funds, from someone that got the funds from someone who's identity is linked to their public address, then it will be very easy with some chain analysis and some effort from a government or powerful institution to make a link to you.

It's nice that when used with the right precautions Bitcoin can be as private as cash with lots of advantages, but it's even more important to realize this does not apply if you don't know exactly what you are doing.
So generally, the current state of non-fungibility for any BTC is a major concern imho and can be dangerous if you promote the narrative that just by using Bitcoin it automatically increases your financial privacy.