• NaibofTabr@infosec.pub
      link
      fedilink
      English
      arrow-up
      7
      ·
      edit-2
      3 months ago

      Which is insane if you know anything about the public ledger.

      Also Bitcoin is still the entry point for buying a lot of other cryptocoins, so it’s not likely to go down unless the entire market goes down.

      • untakenusername@sh.itjust.works
        link
        fedilink
        English
        arrow-up
        1
        ·
        9 days ago

        a public ledger doesn’t hide that much, just use a ton of mixers and stuff for the transactions and no one can tell where the moneys gone

        • NaibofTabr@infosec.pub
          link
          fedilink
          English
          arrow-up
          2
          ·
          edit-2
          9 days ago

          This works in theory, but the mixer knows, and we know that several of them have been infiltrated by various government agencies, and records extracted for criminal investigations. I’d put 50/50 odds on any current mixer being already infiltrated and having some enforcement agency collecting data on the transactions.

          If not law enforcement, I wouldn’t trust the mixer operators to not be gathering data and profiting off of it somehow. You’re talking about money launderers. Trustworthiness isn’t exactly the status quo. Hell, for all you know the people operating any given mixer are actually backed by Russia or North Korea or something.

          • untakenusername@sh.itjust.works
            link
            fedilink
            English
            arrow-up
            1
            ·
            9 days ago

            yeah that’s true. alternatively you could convert BTC to Monero, send that Monero to another account, and then convert that back to bitcoin, but at that point there isn’t much of a reason to use Bitcoin

  • yeehaw@lemmy.ca
    link
    fedilink
    English
    arrow-up
    10
    ·
    3 months ago

    I love the down votes, this should be getting up voted. It’s an “unpopular opinion”, isn’t it?

  • Allero
    link
    fedilink
    English
    arrow-up
    2
    ·
    2 months ago

    Bitcoin will not go to 0, unless a critical bug is found to allow double spending.

    It has utility that more and more people turn to, and at the same time it has a strictly limited supply.

    It will absolutely dip in value once yet another wave is over (quite shortly), but it will not drop to 0 or go away.

    Still, any funds reliant on Bitcoin will take a hit in the meanwhile.