I've been in crypto long enough to remember when anonymity was a big part of the appeal. It was all about privacy, decentralized finance, and escaping traditional systems. But now, it feels like that part of the vision is fading away. We have KYC requirements on almost every platform, transactions that are more traceable than ever, and a constant push towards regulation.
What happened to the "anonymous" part of crypto? Are there any real "safe havens" left for private use, or has the ship sailed? Feels like the dream of privacy is slowly being sold off for mainstream adoption.
What Happened to the 'Anonymous' Part of Crypto?
byu/liftcookrepeat inCryptoCurrency
Posted by liftcookrepeat
7 Comments
You can use ZCash or Monero for 100% privacy (storage, transfer) but any on/off ramp will be KYC
There is no anonymous anymore, regulation killed it
_laughs in xmr_
You can still use Monero and trade on DEX.
Most blockchains have NEVER been anonymous, people always confuse decentralisation for anonymity- most are public blockchains FFS. Monero was the original exception. And if you ever thought your Bitcoin was anonymous it wasn’t, it was pseudo anonymous at best, but your absolutely is/will be revealable if given enough data-points. Monero is still the only standalone anonymity chain that I would use, but even then it’s only with my own mined Monero that it would be truly anonymous. For everyday DEX stuff using Ethereum, Railgun is the best privacy ZK protocol- but it’s designed for obfuscating specific transactions as opposed to full stack anonymity.
Bitcoin – use CoinJoin such as Wasabi Wallet.
Ethereum – Use ZKP such as Railgun or Tornado Cash.
Or go full privacy? Shield transactions on zcash or Monero. Privacy has really never been easier. I don’t anticipate centralized platforms to give full privacy “out of the box” but there has never been a better time or brighter future for the possibilities of privacy with digital assets. Increasingly, some regulators are realizing that privacy cuts both ways and are recognizing privacy is not a crime.
Trading, you have P2P communities like vexl and hodlhodl.
On Bitcoin you can skip the chain and use lightning