If you think crypto is utrackable, you haven’t been paying attention.
The entire ledger of every transaction ever made, is 100% public.
The only reason it’s kind of anonymous, is that the wallet ids are random strings of characters.
But the second you know whose a wallet is, you can go back and see every place their money has ever been, as well as transparently watch every place it will ever go.
HUGE numbers of wallets have already been deanonymized, and that’s a process that can’t be undone. Sure you can make a new wallet, but if you move your money into it from your old one, it’ll be pretty obvius who you are.
If bank accounts were replaced by crypto wallets, everyones transaction history would effectively reveal who they are, since the ids of hospitals, shops, websites and services would have to be public.
Matching that transaction data with even a little bit of personal info about someone would be beyond easy.
If you think crypto is utrackable, you haven’t been paying attention.
The entire ledger of every transaction ever made, is 100% public.
The only reason it’s kind of anonymous, is that the wallet ids are random strings of characters.
But the second you know whose a wallet is, you can go back and see every place their money has ever been, as well as transparently watch every place it will ever go.
HUGE numbers of wallets have already been deanonymized, and that’s a process that can’t be undone. Sure you can make a new wallet, but if you move your money into it from your old one, it’ll be pretty obvius who you are.
If bank accounts were replaced by crypto wallets, everyones transaction history would effectively reveal who they are, since the ids of hospitals, shops, websites and services would have to be public.
Matching that transaction data with even a little bit of personal info about someone would be beyond easy.
No one could anonymously move money ever again.
Yeah hilariously, cash is actually more untraceable. Anything digital can eventually be tracked. It’s not easy, but it’s doable.
That is true for Bitcoin and most crypto tokens, but not for some that specialize in privacy, like Monero or even Ergo with ErgoMixer.
Crypto ≠ Bitcoin
Monero is untraceable. At least until quantum computers break the encryption(s).
But yes, pretty much aside from that, the best you’re gonna get is pseudo-anonymity.