That was true back in the days when you could mine your own coins and hold them in your own wallet, but with all the KYC requirements these days, it’s pretty hard to get, say, BTC that’s not traceable to you.
It’s not impossible, but it’s certainly not as easy as cash.
Some cryptocurrency can be truly anonymous using some pretty interesting maths to verify things have properties without revealing the thing (in particular, XMR/Monero is the most well known one for doing this).
However, it’s still crypto so it’s kinda like instant distrust and heavy skepticism (though I’m slightly less negative than I used to be for the truly anonymous ones as I’m trans and while right now I can still get HRT through normal channels after being on DIY for a bit, a backroute via DIY is always something I like to keep tabs on and within current economic structures crypto of this kind can theoretically be useful as long as it is somewhat inflationary to reduce it’s use as an investment vehicle, though I also am anti-currency in terms of my desired economic system ;3)
With things like BTC/Bitcoin or others with a public ledger, you can pay someone a lot to essentially mix your currency with several other people before sending it to new accounts to reduce traceability, but turning it to fiat currency is still often pretty traceable for the reasons you said. To me it also seems money-laundering-ish lol ., there’s definitely tons of sketchy shit involved. But it’s crypto so that’s par for the course ;p
Pseudo-anonymous. “Anonymous” until you use it in any transaction that can be traced to you, then the anonymity of that account is gone forever and every transaction you’ve ever made can be public knowledge.
Sorry for the small correction, it’s pseudonymous. So it’s not “fake not named” (pseudo a nonymous) but “fake named”, since each user can be identified by a unique pseudonym.
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That was true back in the days when you could mine your own coins and hold them in your own wallet, but with all the KYC requirements these days, it’s pretty hard to get, say, BTC that’s not traceable to you.
It’s not impossible, but it’s certainly not as easy as cash.
deleted by creator
Some cryptocurrency can be truly anonymous using some pretty interesting maths to verify things have properties without revealing the thing (in particular, XMR/Monero is the most well known one for doing this).
However, it’s still crypto so it’s kinda like instant distrust and heavy skepticism (though I’m slightly less negative than I used to be for the truly anonymous ones as I’m trans and while right now I can still get HRT through normal channels after being on DIY for a bit, a backroute via DIY is always something I like to keep tabs on and within current economic structures crypto of this kind can theoretically be useful as long as it is somewhat inflationary to reduce it’s use as an investment vehicle, though I also am anti-currency in terms of my desired economic system ;3)
With things like BTC/Bitcoin or others with a public ledger, you can pay someone a lot to essentially mix your currency with several other people before sending it to new accounts to reduce traceability, but turning it to fiat currency is still often pretty traceable for the reasons you said. To me it also seems money-laundering-ish lol ., there’s definitely tons of sketchy shit involved. But it’s crypto so that’s par for the course ;p
Pseudo-anonymous. “Anonymous” until you use it in any transaction that can be traced to you, then the anonymity of that account is gone forever and every transaction you’ve ever made can be public knowledge.
Sorry for the small correction, it’s pseudonymous. So it’s not “fake not named” (pseudo a nonymous) but “fake named”, since each user can be identified by a unique pseudonym.
TIL. When it comes to compound words, Germans really are the master race.
I’m from Austria, but the language is similar enough ;)
But yeah, compound words is what our language does^^
As anonymous as an online cookie.
Except Monero