Bitcoin was created for peer-to-peer transactions that would protect the privacy of individuals and make it possible to make transactions quickly around the world. Currently, we can see that Bitcoin has gained popularity and that people are investing in Bitcoin and they can easily protect their privacy by making transactions. Moreover, at present, we know that Bitcoin is an independent digital currency where people get their financial freedom. Currently, Bitcoin has become so valuable that it is much more than in the past and will increase more in the future and as the demand for Bitcoin increases, Bitcoin will become more valuable.
Wrong, Bitcoin does not provide transaction privacy. I have said it several times in this thread, yet you have chosen to write your shitpost without reading a single correct reply on this topic.
Bitcoin ensures secure transactions and does not recognize any kind of fraud. That is why every Bitcoin transaction is stored.
Wrong, storing of transactions is not necessary to avoid fraud. Furthermore, there are many ways in which Bitcoin is utilized to conduct fraud -- it does not have to happen on the protocol level. You have to be careful how you write about these matters, because things are quite nuanced. Protocol level fraud is what we would consider stuff like a double-spend transaction, while extremely hard to do, it is not impossible either. Furthermore, besides that, there is all kinds of fraud going on every day. You can't generalize it like that.
Bitcoin transactions are completed through the blockchain. Once a transaction is added to the blockchain, it cannot be changed again. This makes it almost impossible to forge transactions or distort accounts.
Wrong. All transactions can be reverted with sufficient mining power. It is extremely difficult, but it is possible. Therefore, to state that it can't be changed again is factually wrong.
Bitcoin is managed through a public ledger. Anyone can view or verify transactions with any transaction ID. As a result, an investor gets assurance and builds confidence in him.
Bitcoin's auditability has nothing to do with investor confidence at all. Since owners are pseudo-anonymous, this ability to verify balances of unknown entities does not create any kind of assurances. The investor does not know what he is looking at.
Bitcoin is pretty much private, but maybe not just as private as you want it to be. Bitcoin’s privacy doesn’t mean everything essentially transactions are hidden, it means you don’t really need to give out your data or information first before you get to store or transact your funds. And yeah, Transparency is also another vital aspect of bitcoin, so nothing is hidden in the blockchain, every single transaction is stored and seen publicly but this doesn’t in anyway infringe on any user’s privacy.
Yet another Stake spamming idiot that does not read anything in this thread. Bitcoin does not provide any privacy and you have been tagged for posting generic shitposts and misinformation. I have clearly defined what privacy is, and you go ahead and try to provide a definition that goes completely against the established definitions.
Because it's a distributed ledger and everybody need to validate that data is not tampered. I consider the transparency to be a feature otherwise the government and institutions won't adopt it as easily as it is today.
If you want privacy, there are some coins that offers privacy but don't be surprised if you got banned everywhere.
It is a feature, it works as designed.
