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Bitcoin {BTC} HODLers listen up!!! Stay safe and anonymous in an era devoid of privacy

Bitcoin

Bitcoin was unleashed during the second half of 2008. Under the guidance of Satoshi Nakamoto, BTC was meant to operate as a “peer-to-peer version of electronic cash”. This enables one to transfer funds to another individual without the need of a bank [or a third party functioning as a moderator]. Today, it is positioned at the zenith of the crypto-market. The trading volume recorded is $18.256 billion, while 18,038,950 BTC coins have already been mined and are engaged as part of the circulating supply. The total market cap of Bitcoin is $160.091 billion. The price climbed by 0.20% in a matter of hours; this prompted BTC to surge and reach $8874.76.

When you’re online and are looking to make a purchase [it may be a simple item like toys, books, and so on, or illicit substances like drugs, explosives, etc] using fiat would incur massive amounts of fees. Bitcoin exists as a pseudonymous entity, which ensures that digital identities linked to a particular person differ from their real-world identities. However, anonymity is a major cause for concern.

Tainted coins are essentially BTCs that were used in suspicious transactions. This creates a problem for thousands who end up buying Bitcoin [even from reputed sources] which has had a bad history. Thus, this is equivalent to black money in the traditional financial world. How to solve this crisis? Simply forward your money to a service that will be in-charge of sending coins linked to another guy [or girl] back to you. Thus, traceability will become an issue for Big Brother [and other third-parties].

Ethereum mixers [or tumblers] are also available in the market.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.