How does crypto increase privacy? Isn’t the whole ledger public, so if someone manages to identify your wallet they can see all your past transactions?
Yes, also the ledger is immutable so maybe they can’t identify your wallet now but maybe in ten years they can. There’s a whole industry around data mining the blockchain and a lot of people who thought they got away with shady stuff in the early days have been caught that way.
Yeah, it seems like crypto offers less privacy to me, unless that crypto exchange/wallet/idk thingy that would pay businesses for you in exchange for crypto is legit.
How does crypto increase privacy? Isn’t the whole ledger public, so if someone manages to identify your wallet they can see all your past transactions?
Most cryptos are public. Monero specifically though cryptographically obfuscates sender, receiver, and amount.
Yes, also the ledger is immutable so maybe they can’t identify your wallet now but maybe in ten years they can. There’s a whole industry around data mining the blockchain and a lot of people who thought they got away with shady stuff in the early days have been caught that way.
Yeah, it seems like crypto offers less privacy to me, unless that crypto exchange/wallet/idk thingy that would pay businesses for you in exchange for crypto is legit.