People say that bitcoin is popular due to its high market value. There are some who say that it is all because of the fast online transactions, but majority will say that what really contributed to its popularity is its anonymity.
People care a lot about their privacy. As much as possible, they want their personal information to be hidden at all times. However, ever since the invention of the internet which marked the way to online shopping. With that, people began to showcase their information online, hoping that no one is going to use for their ill will.
Unfortunately, more bad happens than good. So, people go back to protecting their data. Since, people can no longer escape online transactions, then they aim to look for a payment platform that will not divulge their information, and they found it: bitcoin.
However, there are also people using bitcoin for evil deeds. Since bitcoin is deemed to let its users be private as they conduct their transactions, some people have gotten the idea that they can use it for their schemes.
With all the sick stuff going on in the bitcoin world, people keep on asking: is bitcoin as private as people say it is?
Of course not. That is the sad truth. The truth is, as long as you are engaged in the internet, then there is no way you can keep anything to yourself. One way or another, people or hackers are going to find a way to steal your information.
So, how exactly do people get away with tracking your identity through blockchain. You see, there is still no way an ordinary person can know who you are, but if you are someone planning to do criminal activities, then know now that authorities can still track you.
Note that blockchain is still connected to the internet. This said, someone who has a good grasp of how technology works, will know how to access your IP address.
This is not exactly good news. At some point, you thought that your information is completely safe when you use bitcoin, when in fact it is not. However, on the positive side, at least you can be sure that criminals can always be tracked despite hiding behind their monitor.