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Bitcoin and Safety (lemmy.zip)

submitted 20 hours 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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[–] jet@hackertalks.com 1 points 16 hours ago (1 children)

You have zero privacy on bitcoin

[–] HumanOnEarth@lemmy.ca 0 points 14 hours ago (1 children)

Not true at all, but it's also not true that privacy is a defining feature of Bitcoin.

All transactions are visible to all parties. But that doesn't mean everyone knows what money is going to who.

Are there on ramps that require KYC which effectively removes the privacy? Yes. But not all on ramps require identifying information to be provided.

[–] jet@hackertalks.com 1 points 14 hours ago (1 children)

Not true at all

All transactions are visible to all parties.

Are there on ramps that require KYC which effectively removes the privacy? Yes.

[–] kortex03@lemmy.ml 1 points 12 hours ago (1 children)

But no one knows which people has that wallet. So it is like i know what is inside int the room, but i can not know who is the owner

[–] jet@hackertalks.com 0 points 12 hours ago (1 children)

You have a totally public wallet with your entire transaction history visible. If you mine fresh coins and never spend them, sure you have a defensible claim to some privacy - if you ever transact then you have no privacy.

Any single transaction will tie your entire wallet history to your identity.

[–] HumanOnEarth@lemmy.ca -1 points 12 hours ago* (last edited 11 hours ago)

Tell me you have no idea how bitcoin works without saying you have no idea how bitcoin works.

Edit: Hey guys don't panic but I think I found RFK Jr's Lemmy account.