One disadvantage of having a single addressis that it is easy to check a person's Bitcoin holding. How many of you use multiple addresses to avoid this?
In my experience most members around here use a different address for almost every payment they receive. Obviously there are going to be outliers, but I've always heard that it is good practice to not repeat addresses if possible. Everyone for the most part keeps track of their old addresses, stake them on here for long-term proof of account ownership salience and makes sure they don't fall in the wrong hands.
Using only 1 address long-term erases too much security, and as you said it makes it possible to pinpoint the amount of coin one has, turning eyes and inviting attacks/hacks if you have a significant amount. This would allow a very targeted attack of your bitcoins, your address and it could demolish your financial holdings altogether.
If you're relying on bitcoin, definitely look into the best security practices; IMO 1-address just simply won't cut it.
I always use a new address for EVERY transaction.
Additionally, I generally refuse to do business with any merchant or charity that re-uses addresses.
^ Perfect example, most legendary, old-heads, OGs
they have similar mindsets to this and even have further criteria before dealing with a merchant/trader such as PGP verification and the-like.
