Yes, every transaction is on the blockchain so it is traceable. Blockchain Explorer is a good way to look at it https://www.blockchain.com/explorer/blocks/btc/864544
And yes, it’s only traceable if someone knows the wallet owner. There are forensic accountants who can figure out who owns the wallet even if it’s nokyc. They can trace things like spending habits on the wallet, addresses, and if the government is involved the physical hardware.
legend nostr:nprofile1qqsynpxmr0lc00m8ev7almuyvfwu4y30kmajas6r6k06qfhuns5ctjgpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq32amnwvaz7tmjv4kxz7fwd4hhxarj9ec82cspp4mhxue69uhkummn9ekx7mq80tqjq ✌️
Now I understand why the appeal of Monero as a privacy transaction. 🤔
It makes sense! 💯
Yeah, that’s definitely a benefit to Monero! Also why mixers are popular because it’s a lot harder to trace a Bitcoin transaction when it’s been mixed through different cryptos and back to Bitcoin.
oh I see. this is very insightful! A lot to think about. ☺️👌🤔💭
Without #privacy the payment use case is hard to make. Would you accept all your bank accounts and financial transactions to be known to each person you pay with a credit card? Probably not, and there is no reason as to why this would be more desirable when using #crypto. #Monero fixes this.
any recommendation where to get the best Monero wallet for beginners?
CakeWallet is another popular wallet for Monero.
Is that mobile only? Or is it desktop and mobile?
I think it’s only mobile.
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