💰 Understanding Crypto (Part 1) - Is cash still the best anonymous currency!? Bitcoin privacy issues

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Currently, the best known virtual currency is Bitcoin BTC , where all transactions are recorded on the blockchain and are protected from tampering. It is normally not used in stores, but it is easy to convert into money. For anyone who has conducted a bitcoin transaction at least once, your information will no longer be private. Money has two functions: 1 a means of payment and 2 a means of storing value. However, when dealing with large amounts of money, carrying or transporting that much cash can be difficult. Optimize your portfolio Cash, cryptocurrencies, and gold each have their own strengths and weaknesses.{/INSERTKEYS}{/PARAGRAPH} This service anonymizes transactions by pooling Bitcoins in one place and mixing the collected coins. One of the best things about Bitcoin is the ability to trace and verify the transaction details after the fact. Well-known anonymous currencies include DASH, Monero, and Zcash. Gold does not become obsolete like some paper currencies. For many people and myself too , gold is the best anonymous currency. Cash has almost zero traceability. How to protect Bitcoin transaction privacy 2 Another option is a service called Bitcoin Mixer. As it is impossible to track unless you have recorded its serial numbers, cash is often considered the best anonymous currency. However, there are people and organizations that use anonymous currencies to hide illegal activities such as drugs, weapons, tax evasion, and money laundering, all beyond the scope of a need for privacy. The function of money Let us consider how money works. {PARAGRAPH}{INSERTKEYS}日本語版はこちら Digital currencies have changed the world since the Bitcoin boom began in - SIJIHIVE has received many requests for translation and content creation projects related to digital currencies, and in this article, we will share some information regarding cryptocurrencies. It is quite possible, looking at historical trends, that a 10,yen bill stored in a safe will become nothing but paper waste. With this service, you can protect your transaction privacy; however, there is a risk that the Bitcoins will be stolen by the mixing company. All the parties involved will know all the details of the transaction history, including the bitcoin balance. Cash is best for privacy protection at the time of payment but has major drawbacks for value storage because it is vulnerable to inflation and a weaker local currency. Another disadvantage of cash is that it is difficult to use older bills after new ones have been issued. If you try to use a large amount of old bills that have been stored in a safe for a long time, the police may come knocking on your door. There are often no transaction records. Is cash the best anonymous currency? On the other hand, a real problem with Bitcoin may be privacy. An indication of this are the many overseas Chinese people keep their wealth in gold. A third option A common rival of cash and cryptocurrencies is gold. Therefore, the use of anonymous currencies is currently not allowed on the Japanese digital currency exchanges under the guidance of the Financial Services Agency.