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Bitcoin and Safety (lemmy.zip)

submitted 1 month ago by Romero_Rojas@lemmy.zip to c/bitcoin@lemmy.ml

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As users, do you feel secure with the use of blockchain to protect your privacy?

*Blockchain: decentralized digital ledger which records transactions worldwide. It is transparent (anyone can enter) and it does’t have a central authority (banks are central authorities). Within each chain of blocks there’s a transaction data, timestamp and cryptographic hash (unic fingerprint).

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[–] infinitesunrise@slrpnk.net 3 points 1 month ago* (last edited 1 month ago) (1 children)

All bitcoin privacy measures ultimately distill down to security-through-obscurity, which does have practical utility but isn't true privacy. The word "pseudoanonymity" gets used.

[–] HumanOnEarth@lemmy.ca 0 points 1 month ago

You're correct.

It's funny because so many people use this as a gotcha, but again privacy is not really a widely touted feature. Privacy has little to nothing to do with the value of Bitcoin.

All the pearl clutchers better not be using credit cards or bank cards cause I have bad news about privacy there. I often laugh to myself imagining all these buttcoiners as crazy unwashed hermits with their life savings stuffed under the mattress in cash..... but we all know damn well these guys are tapping their cards and Venmoing their shit around on the daily while trying to shit talk something they're obviously not capable of, or not interested in understanding.