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I don’t really know anything about crypto, but I’ve heard for many years how criminals use it to ransom things. I’ve always thought the “bitcoin is anonymous like cash” angle never made sense, since the entire point of the blockchain is to record ALL of it, and eventually that paper trail is going to tie it to someone. (It sounds like I’m somewhat correct about that since you mention “wash[ing]” it.)
I’ve never heard of monero. How does that work with the washing and whatnot? It’s a whole world I know nothing about, but find interesting.
That's a long conversation. Please allow me to share a YouTube video that gets to the crux of the issue first. And I can share technical docs afterwards.
However you are 100% correct. Bitcoin is anything but anonymous. XMR/Monero is and has always been fully cryptographic, with the minor issue that if someone controls a node you connect your wallet to, there is metadata that will out you.
I don't agree with everything this guy says about politics or social issues but he's correct on netsec issues.
https://m.youtube.com/watch?v=QrHsFZBab4U
https://m.youtube.com/watch?v=nDBHhz00vjI
As far as anonymizing your bitcoin you'll need to do your own research. But here's how not to do it.
https://m.youtube.com/watch?v=7CD_Nl3iwhE
If you're gonna do that research do it on an updated tails distro as the previous release was compromised.
https://tails.net/install/index.en.html
Thanks for the great reply! Super interesting stuff. I keep wanting to study up on all this crypto stuff since it seems like it’s not going anywhere at this point. Appreciate the links.
Don't spend more than 20 bucks to figure out how it all works if you want to tinker. It is not a safe store of wealth. The best usecase is for anonymous and secure transactions.