Why is Bitcoin is everything but anonymous ?
Your location is public.
When running a node, IP addresses are public on #Bitcoin (#BTC) blockchain. Your location can be known within 200 meters from where you made a transactions.
If you have a lot of Bitcoin, be aware that it's extremely simple to know where you are. There will be time when organized groups will come physically to the big holders of Bitcoin to extract their private keys to them.
Did you know that SilkRoad, the largest black market at the time, was brought down by the FBI, purportedly by following the Bitcoin transactions of its founder.
IRS - Did you forget to report your income? - Don’t worry ! They all keep in mind.
We've known this for a long time, but Coindesk has revealed it few days ago, The IRS Has Been Using Bitcoin Tracking Software Since 2015. IRS
"This is necessary to identify and obtain evidence on the part of the taxpayer. " IRS.
That means they know precisely who the holders of Bitcoins are. What they buy and from where comes their funds. The time will come when the IRS will pursue all those who are potentially prosecutable.
Cheers :) to anyone who used the bitcoins on the BlackMarkets thinking it was Untraceable.
Why is Monero the most anonymous cryptocurrency yet ?
Wallet balances are obscured in Monero using so-called "stealth addresses" (to generate addresses for receiving Monero that are essentially encrypted; the recipient can retrieve the funds, but no one can link that stealth address to the owner.)
Monero's price in dollars since its creation.
It has a feature known as "ring signatures" which essentially mixes up the transactions of many users at once automatically to make a forensic analysis of money flows impossible. And it uses something called "ring confidential transactions," which hides the amount of every transaction.
People transacting in Monero can then change back to either Bitcoin or to dollars (or other currency) via a number of online cryptocurrency exchanges.
It's a crazy world we live in....
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