Quote from: Z-tight on November 07, 2024, 10:46:36 PM

Quote from: goldkingcoiner on November 07, 2024, 05:07:18 PM

Quote from: Z-tight on October 18, 2024, 09:54:41 PM

What do you mean by 'the privacy of BTC', BTC is not a privacy coin

You are confusing privacy with anonymity.

Bitcoin indeed is a privacy coin. But that does not mean it is going to be an anonymity coin, since every transaction is public and traceable.

What privacy means is that you can hold Bitcoin in your own private wallet, without a third party having access or control over any part of it.

I am not confusing anything. BTC is not a privacy coin, there is no privacy at the protocol level and privacy can only be achieved when you use privacy solutions and run your own node.

The feature you are talking about fits better with decentralization and censorship resistance, were you are your own bank and control your own funds without any help from a third party or central authority.

Privacy on the sense that you could be able to get a hold of your funds without needing any service or centralized platform on which this is really that totally that could be also considered to be anonymous too on which we know that addresses couldnt really be able to exposed on that owners identity but we do know that every transactions on chain could really be able to see on which this will really be that resulting on having that kind of tracing and on the moment or time that those coins been passed into any centralized platform and if it happens that the account is really that verified then this is the moment that it will really be that traced out on whose the owner of the said coin. This is where it is really that called pseudonymous because its not really that totally cant be tracked or simply being anonymous. There's really that fine line in between those words and thats why it cant be considered out completely. It will really be just that depending on a certain individual on how to deal up with things accordingly or according or depending on the need.
It will really be just that important that you should really be that knowing on how it works and on what are the potential exposure of your identity once you do touch up these centralized platforms.
ITs something inevitable on using up exchagers or any services that able to ask for some verification from converion of your crypto into fiat.