Is the complete anonymity and decentralization of bitcoin good or bad?

[haocoin]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

[leland orser]

Indeed, when we give token to the exchange, it is only based on trust.
A number of exchanges have been stolen recently, and some centralised exchanges may be able to pay for some of the stolen tokens, but the decentralised exchange...

[luigidosado]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

We can't really say if bitcoin is bad or good, actually there are pros and cons in using it and transacting with it. One of its disadvantage is that bitcoin though it protects your identity, transactions are always in public. Yes, when we give our token for an exchange, it will be a risk for us because we leave our tokens in the hands of another. A lot of people complained about this one and this things are just unavoidable. As users all we can do is to secure our transactions by keeping our private keys to ourselves and by avoiding using public wifi's when having transactions.

[tententen]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

Ther is no complete anonymity in bitcoin.  You're mistaking BTC and XMR.

[krishnapramod]

A decentralized trustless currency relying on centralized exchanges, a bit ironic, but the Bitcoin ecosystem hasn't evolved to the point where decentralized exchanges are dominant. Agreeable that centralized platforms experience a lot of issues, from scam to hack to freezing accounts to technical difficulties/downtime. But again at the same time, there is liquidity, well-established platforms have credibility, and that's what most users prefer, but IMO there would be a greater need for decentralized exchanges in future, would be a necessity and there are already some exciting platforms, but with very low volume. We just have to wait and see how these projects would turn out.

[goocoin]

Indeed, when we give token to the exchange, it is only based on trust.
A number of exchanges have been stolen recently, and some centralised exchanges may be able to pay for some of the stolen tokens, but the decentralised exchange...

Bitcoin can be anonymized, which will allow everyone freedom to talk about economic value, free from snooping by criminals and by unequal laws of corrupt governments. Of course, bitcoin anonymity also brings disadvantages, such as trading platform needs to verify identity. Some platforms have purchase limits each month, or more personal information is needed to allow for more purchases.

[krishnaverma]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

You can reduce the chances of getting embarrassed by:

1) Using only reputed exchanges that are more trusted and established.

2) Saving your Bitcoins on different exchanges or even better in a physical wallet (this become more important if you are investing huge amount of money).

There will always be merits and demerits of any system and you have to make the decision of using that system after evaluating them.

[casdder]

The anonymity of bitcoin has tremendous potential for growth. This may sound self-contradictory? Well, this will not be. Considering this for a moment, Nakamoto himself is anonymous and widely respected. This means that journalists, inventors or anyone, such as the WikiLeaks website, are no longer afraid of financial exclusion for the sake of telling the truth, and the liberation of disruptive technology is generally very good. Bitcoin can be anonymized if one takes the right action. This will allow everyone to freely talk about economic value, free from the spy of criminals and the unequal laws of corrupt governments.

[frery]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

Everything has two sides, the complete anonymity and decentralization of bitcoin is no exception, and people are always spreading the goodness of both, but often neglecting their drawbacks and not forgetting that it is also a feature of bitcoin Become a tool for crimes, if the perfect solution to this problem, it may be Bitcoin is already a recognized currency in the world.

[VovkashotDD]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

Anonymity is good for us, of course, but for the government it is unlikely, and if they want to settle it, all anonymity will fall and the tax will appear. But there is a risk of allowing a very large number of scammers in this environment.

[Kakmakr]

When Satoshi created Bitcoin, it was not meant to be a commodity but rather a alternative Peer-to-Peer electronic cash system. People started to add third party services, where you could trade Bitcoin as a commodity or as a currency on exchanges. <So this was not the original use case>

You cannot stop people from making money and using this technology for other purposes. It was given to mankind to use and to improve their current systems. <How they use it, is up to them>

So your friends are blaming the technology and not the 3rd party services that was a spinoff of the original idea. <profiteering>

People were supposed to use Bitcoin between two parties with no 3rd parties inbetween, but these services saw a opportunity to make money and they created these services for that purpose.   

[Pursuer]

the fact that there are centralized places using a decentralized currency in a particular way does not mean that decentralized currency is not decentralized. it just means when you use that particular platform you have to abide by the rules of that particular platform.

and actually those platforms have those rules not because they are working with bitcoin, but because they are working with fiat and banks!

so I say there is nothing ironic about this. the way centralized exchanges work is pretty logical. the way we use bitcoin is not. you can very well trade bitcoin in a decentralized way, whether by using a decentralized exchange or just simply trading peer to peer.

[LeGaulois]

@haocoin

People aren't supposed to hold their coins on any exchange, it's one of the golden rules. It's not only about if the platform is hacked, it can be also  if the exchange changes their rules suddenly (i am thinking about KYC as an example). These platforms are exchanges not web wallets, it shouldn't be used as a wallet.

When a site is hacked the coins stolen are labeled as "tainted coins" and crypto exchanges are working together to block the tainted coins to be traded on their platform.

[cryptolerant]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

We can't really say if bitcoin is bad or good, actually there are pros and cons in using it and transacting with it. One of its disadvantage is that bitcoin though it protects your identity, transactions are always in public. Yes, when we give our token for an exchange, it will be a risk for us because we leave our tokens in the hands of another. A lot of people complained about this one and this things are just unavoidable. As users all we can do is to secure our transactions by keeping our private keys to ourselves and by avoiding using public wifi's when having transactions.

It has both good and bad sides mate. That is the natural law of how the universe operate, law of opposites. main good side of blockchain is the hope that it can save us from corrupted centralized market. main bad side is that is so vulnerable which can be used in very dark parts like drug and gun trafficking.

[Granslam]

For me, the anonymity depends on the situation. Because as bitcoin investors, it is not new to us that bitcoin is used by criminals due to the complete anonymity. the decentralization is somewhat good and somewhat bad as well, because no one controls it, no greedy capitalist will take hold of it, yet it won't also benefit the creator, Satoshi himself as well because bitcoin is not in his control.

[haocoin]

Indeed, when we give token to the exchange, it is only based on trust.
A number of exchanges have been stolen recently, and some centralised exchanges may be able to pay for some of the stolen tokens, but the decentralised exchange...

Bitcoin can be anonymized, which will allow everyone freedom to talk about economic value, free from snooping by criminals and by unequal laws of corrupt governments. Of course, bitcoin anonymity also brings disadvantages, such as trading platform needs to verify identity. Some platforms have purchase limits each month, or more personal information is needed to allow for more purchases.

I think bitcoin is contradictory. If it is anonymous, why do we need to verify identity to buy, so that our information will also be known by third-party platforms, and we still rely on the platform, so this feature is good or bad I can not judge.

[haocoin]

Before talking about the characteristics of bitcoin with others, my friend raised doubts that when trading on the trading platform, we should save the bitcoin to the address specified by the platform, that is to say, we handed the bitcoin to the trading platform in exchange for " At any time to the platform to mention the credit "commitment. But there have been several incidents in which platforms were stolen and bitcoin stolen, investors suffered. Moreover, due to the characteristics of bitcoin, the stolen currency has no traceability, that is to say it does not even know whether it is a trading platform to defend itself from theft. Is it ironic that a so-called decentralized currency relies heavily on the credit of the trading platform? This makes me feel embarrassed, I do not know how to accurately refute him, I hope you can express your opinion.

You can reduce the chances of getting embarrassed by:

1) Using only reputed exchanges that are more trusted and established.

2) Saving your Bitcoins on different exchanges or even better in a physical wallet (this become more important if you are investing huge amount of money).

There will always be merits and demerits of any system and you have to make the decision of using that system after evaluating them.

Thank you, your advice is very helpful to me. It is impossible for each system to be perfect and everything has two sides. I think my friend is too harsh on bitcoin, and this is why I can not convince him to invest bitcoin the reason, he himself did not like bitcoin.

[CNY dasd]

Bitcoin can be anonymized if one takes the right action. This will allow everyone to freely talk about economic value, free from the spy of criminals and the unequal laws of corrupt governments. Perhaps the worst aspect about bitcoin's anonymity is that using it can create misunderstandings and no one knows what you are using for bitcoin.
Banks may not know the purpose, nor do ordinary Bitcoin holders know and care, but U.S. government agencies have enough money to track down and discover the bitcoins you buy.

[SUDARMONO]

it's one big risk is bitcoin theft, because if bitcoin we stolen from the wallet, we will not be able to find who the culprit, but to better maintain the security we better store in the physical wallet for bitcoin with a large amount.

[pocketfullofpoke]

Complete anonymity and decentralization of bitcoin is both good and bad. For those who are decently earning bitcoin, being anonymous and decentralized bitcoin is good since their earnings are free of tax. For those who are also illegally earning bitcoin like those who are doing criminal acts, then its bad for them if it is not anonymous and decentralized.