Is KYC Destroying Bitcoin's Pseudonymity?

just_laser · 2024-07-29T18:18:00.000Z

Bitcoin is supposed to be pseudonymous, right? But once you connect your wallet to a KYC platform, it all goes out the window. I was thinking, how can we have both transparency and pseudonymity? Seems like a contradiction to me.

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ben.matrixNewbie

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#21Aug 10, 2024, 08:10 AM

Bitcoin’s transparency is why it’s traceable. KYC definitely breaks that pseudonymity when converting to fiat.

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ben.matrixNewbie

Posts: 3546 · Reputation: 35

#22Aug 10, 2024, 11:45 AM

True, but Bitcoin isn't fully anonymous, just pseudonymous. As long as there’s a public ledger, it's a different ball game.

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Is KYC Destroying Bitcoin's Pseudonymity?

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