Replying to Avatar DecentralizedDude

That's a valid point. Initially, that was also a thought of mine. However, pseudonymity provides transparency and traceability, strengthening the network's integrity and fostering user trust. It serves as a fundamental safeguard against misuse and promotes the acceptance of Bitcoin as digital gold 🫡
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Owner_of_donky 2y ago

Gold isn't transperant. Governments can also try to deanonymize the transactions. As you mentioned 99% of transactions happen on centralized exchanges. Which means that 99% are KYC-ed. The other 1% can easily be traced

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Owner_of_donky 2y ago

Edit: 99% are on exchanges both centralised and decentralised. Still only 4% are on decentralised exchanges

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DecentralizedDude 2y ago

Absolutely, Bitcoin is not anonymous. Despite 99% of trading activities on exchanges, with only 4% on decentralized ones, most transactions are identifiable through KYC procedures.