Post
Topic
Board Bitcoin Discussion
Re: Challenging Privacy in Bitcoin!
by
pooya87
on 14/11/2023, 05:58:26 UTC
But here comes the most intriguing question: is the level of privacy provided by these tools enough to protect our identities and activities in the digital world? Or should we be focusing on developing new solutions and improvements to further safeguard our privacy in the Bitcoin ecosystem?
You should first know that there is a difference between privacy and anonymity.
Anonymity is when you keep your identity private but not your actions. In that sense Bitcoin is anonymous, since by looking at a transaction on chain nobody can find your identity. The only way you'd lose that is if you join in a centralized service like CEX and willingly give them your identity through something like KYC which will associate your "actions" with your identity. Using a mixing technique improves that.
Privacy is when your actions remain hidden which is not possible in a transparent blockchain where every "action" is recorded publicly.