is Bitcoin really anonymous?

[Out of mind]

We know that Bitcoin is not completely anonymous, but Satoshi designed the Bitcoin network in such a way that everyone can see the transactions. Every transaction is stored in the blockchain, which is why anyone can see them if they make a transaction, only the address is used, but it is not possible to see it using the name, it is confidential. Bitcoin is pseudonymous, only your identity will be hidden but your wallet address will be visible from where anyone can see your transaction transactions but cannot find out your identity. But in the case of exchanges, it is different, when you buy Bitcoin from an exchange or make a transaction from there, of course the exchange authorities can find out all your identity due to the KYC system. We know that Bitcoin is transparent but anonymous, but if we want to control privacy, we must avoid exchanges where KYC is required, so using hardware wallets and using the Lightning Network is the safest.

[Awaklara]

If transactions are public on the blockchain, how private is Bitcoin really is ?

If you make transactions through a centralized exchange that requires KYC, it makes Bitcoin not anonymous. Transactions can be tracked, but your data as the owner of a certain amount of Bitcoin does not become public. Perhaps only the government has access to know all of that. Ordinary people can usually only track through the network; they don't actually know who you are.
Some people don't like centralized exchanges; they choose to use exchanges without KYC to convert their assets, or even use mixers to avoid unwanted attention.

[SquirrelJulietGarden]

If you make transactions through a centralized exchange that requires KYC, it makes Bitcoin not anonymous. Transactions can be tracked, but your data as the owner of a certain amount of Bitcoin does not become public. Perhaps only the government has access to know all of that. Ordinary people can usually only track through the network; they don't actually know who you are.
Some people don't like centralized exchanges; they choose to use exchanges without KYC to convert their assets, or even use mixers to avoid unwanted attention.

Bitcoin is Bitcoin, a public blokchain, and bitcoins are coins in your wallets with UTXOs waiting to be used by you. How you use your bitcoin UTXOs for transactions, changed addresses, Tor will help you have better privacy and anonymity or have worse ones.

bitcoins basically and technically are fungible so let's say if you buy bitcoins from someone by any way, on CEX, DEX, P2P, you never know that your coins are anonymous or not.

Some recommendations for having better privacy and anonymity.
https://en.bitcoin.it/wiki/Privacy
https://bitcoiner.guide/privacy/
https://bitcoin.org/en/protect-your-privacy

[joniboini]

please correct me if am wrong but does this mixing service not have some kind of data base that can be accessed  if they got seized by the government?

As mentioned above, we don't know for sure how long data is stored on their database. It's safe to assume they'll keep it for a while for CS purposes, but it's impossible to verify if the data is gone for good since we have no physical access to their servers. Some reports show how governments recovered some data from their storage, so it isn't impossible that some of them are stored way longer than expected. As always, be prepared for the worst.

[ndutndut]

Some people will say Bitcoin is anonymous, others will say it is traceable.

This part kidda confuses me in a way..
If transactions are public on the blockchain, how private is Bitcoin really is ?

The definition of privacy here depends on you, not the Bitcoin system itself. As we know, all Bitcoins are public on the blockchain designed for transparency and security, not privacy.

So, in other words, Bitcoin privacy depends on how you use it. If you buy Bitcoin through an exchange that requires KYC there's no privacy, especially if you send it to the same wallet repeatedly, as your transactions can be tracked by governments and even ordinary people. But if you buy Bitcoin P2P, with a new address each time and no KYC, then you have privacy. By privacy, I mean Bitcoin privacy is superior to many traditional systems. So, in short Bitcoin's privacy depends on how you use it.

[Patikno]

Some people will say Bitcoin is anonymous, others will say it is traceable.

This part kidda confuses me in a way..
If transactions are public on the blockchain, how private is Bitcoin really is ?

Bitcoin is traceable, but can you determine someone identity from a transaction? No, you cannot find out someone identity from an address (as long as it is not exposed). Let me clarify further.

I believe that Bitcoin anonymity isn't revealed as long as the owner does not publish it. Usually, the one who publishes it is directly (usually by announcing ownership of the address themselves), or indirectly (usually by linking your address to something that could reveal your identity, such as sending it to a site where you have completed KYC). Essentially, your identity will remain anonymous as long as it is never revealed, intentionally or unintentionally.

By the way, Satoshi once stated that, even nodes can't tell which Bitcoin addresses belong to which IP addresses, and there satoshi suggested to use bitcoin address only once for better privacy.

Reference : Re: Repost: How anonymous are bitcoins?

[Zaguru12]

Bitcoin is Bitcoin, a public blokchain, and bitcoins are coins in your wallets with UTXOs waiting to be used by you. How you use your bitcoin UTXOs for transactions, changed addresses, Tor will help you have better privacy and anonymity or have worse ones.

I think What Awaklara is actually on about and which we I agree with is simple, you lose Anonymity and also privacy when you use centralized exchanges that requires KYC to buy or sell your bitcoin because the address from which the coin came into the wallet from or left the wallet into is now attached to your exchange wallet address which already has your identity KYCed to it.

bitcoins basically and technically are fungible so let's say if you buy bitcoins from someone by any way, on CEX, DEX, P2P, you never know that your coins are anonymous or not.

If you buy from decentralized exchanges or any where you have not ever submitted KYC with and you use your Tor or any means to avoid IP tracking, with such address never interacting with any of the KYCed ones, then I can say that you’re anonymous but not with privacy.

But should you use centralized exchanges where you actually have submitted KYC before and you buy bitcoin from there then you’re neither nor anonymous because the exchange actually has this information

[Asiska02]

Some people will say Bitcoin is anonymous, others will say it is traceable.

This part kidda confuses me in a way..
If transactions are public on the blockchain, how private is Bitcoin really is ?

Bitcoin is being said generally to be anonymous but the fact remains that Bitcoin is pseudonymous in nature and not usually anonymous. Bitcoin transactions are publicly known on the blockchain but your address does not automatically shows your name. Since it is publicly shown on the blockchain, the amount sent, address it was sent to will all be visible to the public. Now what makes it to be anonymous is that the face behind the address is not known unless when these addresses used are attached to an exchange which is already KYC’d. True anonymity will mean, no traceable link, no identity and no transaction visible to the public, this is why Bitcoin is more to be called to be pseudonymous in nature and not anonymous in its entirety.

Now privacy to me will mean how you handle this your financial informations. Who gets to see the amount you have in your wallets and also the face behind the wallet. Privacy can be further increased by how you handle informations about your wallet. Don’t engage in publishing your wallet to the public, don’t allow your transactions to be a linked to an exchange, that’s one of the quickest ways to track you. IP address can be tracked, using Tor can hide your true IP which is most effective than even using VPN. Bitcoin is transparent in nature even though it is decentralized. Your interaction in the network now distinguish whether you’ll remain anonymous and private to the public.