Poor privacy in Bitcoin can be a major practical disadvantage for both individuals and businesses.Įven when a user ends address reuse by switching to BIP 32 address chains, they still have privacy loss from their old coins and the joining of past payments when they make larger transactions. Your inlaws don't see that you're buying birth control that deprives them of grandchildren, your employer doesn't learn about the non-profits you support with money from your paycheck, and thieves don't see your latest purchases or how wealthy you are to help them target and scam you. Traditional banking provides a fair amount of privacy by default. Once broken this privacy is difficult and sometimes costly to recover.
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