Bitcoin was never supposed to be untraceable. Here are a few of the main attributes of Bitcoin:
1. Decentralized - cannot be directly manipulated by any group or person. The Bitcoin code is unchangeable.
2. Blockchain - a permanent record of all transactions. No double-spending. No way to "fudge" the numbers.
3. Deflationary - there is a fixed supply, and a known rate of distribution.
Bitcoin, cryptocurrency, digital currency, blockchain... these are all different terms with different meanings. It's easy to get lost in the propaganda surrounding all of it (from both supporters and detractors).
Edit - OP is correct, while BTC is not strong on anonymity there are good options out there. XMR and ARRR are solid choices.
Bitcoin is also a grate base with it's transparency. Imagine using it for government spending, every transaction fully traceable and no way to cheat. It could end government corruption as there would be no way to hide it.
But for private citizens, Monero and other privacy coins absolutely.
Bitcoin was never supposed to be untraceable. Here are a few of the main attributes of Bitcoin:
Bitcoin, cryptocurrency, digital currency, blockchain... these are all different terms with different meanings. It's easy to get lost in the propaganda surrounding all of it (from both supporters and detractors).
Edit - OP is correct, while BTC is not strong on anonymity there are good options out there. XMR and ARRR are solid choices.
Bitcoin is also a grate base with it's transparency. Imagine using it for government spending, every transaction fully traceable and no way to cheat. It could end government corruption as there would be no way to hide it.
But for private citizens, Monero and other privacy coins absolutely.
Like others have said, Bitcoin was never designed to be untraceable. The blockchain is a public ledger that anyone can access and read.
Despite this, it was the goto currency of darkweb markets and illegal transactions, mainly because there was no better option.
Now there's Monero which is meant to be more private, so the transactions of your wallet are not publicly accessible.
Bitcoin was never meant to be "untraceable".