I dont know much about it but i wanted an anonymous payment method for my services and learned about bitcoin is bitcoin the superior method to accept anonymous payments from clients
Is bitcoin the superior payment method for anonymity
byu/Minimum-Zombie2269 inBitcoinBeginners
Posted by Minimum-Zombie2269
3 Comments
Bitcoin was designed as a public ledger that everyone can see, and trace, and verify, and track, and agree upon.
Since you’re just starting out on this journey, you should probably imagine the Bitcoin blockchain is like you publishing the password to your checking account, and with enough effort, the entire world could keep track of everything you send and receive.
On-chain payments are pseudonymous, and can be kept away from your identity such that no one can link you to them as long as you don’t use a service where your identity is attached. Bitcoin lightning payments are more difficult to track than on-chain, so if you aren’t accepting large amounts, that could be a good option.
The key is to keep your identity separate from your bitcoin wallet by using one that is not linked with your identity, as what happens with a centralized exchange where they are required by law to collect identifying information.
Most people spending bitcoin do so on other layers like with the lightning network which is extremely private by default as it multihop and onion routed and has many privacy improvements like BOLT 12’s route blinding so both the sender and receiver have excellent privacy
https://bolt12.org/
So it really depends how you use Bitcoin , as onchain transactions are far less private but not as transparent as many suggest because addresses and wallets are not linked to identities by default and wallets create new addresses for every transaction to make it harder to know a persons balance or if the same addresses belongs to the same wallet or same person by default. Even the clever use of a UTXO model instead of an account model has privacy benefits because outsiders don’t know if an output is a persons change address or the recipient by default