PalmTree on Nostr: It's worse than you think. Every time you spend BTC the change is returned possibly ...
It's worse than you think. Every time you spend BTC the change is returned possibly to a new or separate change address. This address is now linked back to you. Also if you spend from multiple inputs, it can be assumed that all the addresses also belong to you further increasing the amount of information that can be collected. So knowing one address you can link and track all the other addresses you control. Once a symbol of freedom, now dominated by big capital, surveillance, centralization and controlled by big money and governments, Bitcoin has strayed far from its roots. It is not going anywhere anytime soon but at the same time it is not the peer to peer digital cash as Satoshi had envisioned. A quick example - all my favorite breweries that once accepted BTC no longer do so, slow transactions, high fees, tax compliance......
Published at
2024-12-26 13:57:04Event JSON
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"content": "It's worse than you think. Every time you spend BTC the change is returned possibly to a new or separate change address. This address is now linked back to you. Also if you spend from multiple inputs, it can be assumed that all the addresses also belong to you further increasing the amount of information that can be collected. So knowing one address you can link and track all the other addresses you control. Once a symbol of freedom, now dominated by big capital, surveillance, centralization and controlled by big money and governments, Bitcoin has strayed far from its roots. It is not going anywhere anytime soon but at the same time it is not the peer to peer digital cash as Satoshi had envisioned. A quick example - all my favorite breweries that once accepted BTC no longer do so, slow transactions, high fees, tax compliance......",
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