Why privacy for BTC?
When you pay with bitcoin, by default, the receiver will see your wallet's address, and can check your past transactions. True for any receiver.
Issues:
1️⃣ Discrimination/conflict based on your spending.
2️⃣ Being a target of hackers based on your wallet content.
Discrimination can come from family, work, gov, anyone.
What did I miss?
Some opinions about this:
1. Is not an issue of bitcoin
2. Because the blockchain is transparent the only hacking possible is human hacking in my opinion when a wallet address is connected to your name
1. Yes, and you might want to care about it.
2. E.g.: If they know your address, they might send you small btcs, so you accidentally send a transaction to their address. Or they can try to pair an IP with you, with which you can be an easier target.
Better to be safe then sorry.
This is the key concept behind currency needing to be fungible. Cash has no memory. The $100 bill in my wallet could have formerly been payment for illegal material or actions. It’s value is not tarnished by the past. It would be a bummer to have BTC seized in your wallet because of some legacy legal infraction. I suspect this is unlikely at best, but the possibility is likely there.
