Bitcoin is a cryptocurrency which is now used worldwide. It was basically known for its anonymity and safe transactions. In the very beginning, people often used Bitcoin for transactions because it was considered safe and anonymous. But to be honest, it really isn’t.
All the bitcoin transactions are permanently stored on the network, which clearly indicates that anyone can see your transactions and balance of the Bitcoin. Anonymization is never possible with such developed technology.
According to Satoshi Nakamoto, the founder of Bitcoin currency:
“The possibility to be anonymous or pseudonymous relies on you not revealing any identifying information about yourself in connection with the bitcoin addresses you use. If you post your bitcoin address on the web, then you're associating that address and any transactions with it with the name you posted under. If you posted under a handle that you haven't associated with your real identity, then you're sti...
Anonymity was what originally made Bitcoin famous as a digital currency. Born out of the 2008 financial crisis, the idea of a currency which couldn’t be tracked (or outright confiscated) by banks and governments caught on fast.
Sadly, the true anonymity benefits of Bitcoin have since been undermined significantly. The good news, however, is that anonymous forms of cryptocurrency now exist, which are far superior to Bitcoin in terms of speed, affordability, and price stability.
Monero - The Cryptocurrency Designed for Anonymity
The top spot for the most anonymous cryptocurrency in 2018, belongs indisputably to Monero.
Using what in cryptocurrency development circles are known as ‘cryptographic ring signatures,’ Monero adds complete stealth and 'unlinkability' to XMR transactions. This means that even if authorities are aware of a Monero wallet address, no one can independently verify a wallet balance, nor see whom funds are sent and received between.
Dash Coin - The ...
The cryptocurrency industry is full of high adrenaline moments with near misses and close-call survivals. Many times during its less than a decade lifespan Bitcoin came too close to be quashed by one threat or the other and every single time it has gone on to bounce back even stronger. The story of Bitcoin in 2017 is one that finally sees the Alpha Cryptocurrency coming of age. This can be seen through the way it almost effortless shrugs off a Chinese crackdown on the sector a few months ago, as well as a few scathing comments from CEOs of some of the biggest banks in the world.So what happened, why does the Bitcoin industry and market in particular continue coming back up. Despite being labeled as a bubble or even a fraud, why has the market decided to keep faith with Bitcoin and the cryptocurrency industry at large? In this piece we intend to go over a few key reasons that make the Bitcoin market more optimistic than ever despite seemingly unending challenges.The Lack of Fea...