Bitcoin, Safety In numbers? Short explanation why it's safer then Paypal
So the other threads I've seen have sorta gone off the rails.
I've been in bitcoin for 8+ years. And I figured I would clarify/simplify it for some on here arguing that bitcoins 100% traceable.
This is false. However it CAN be in many cases but there are ways to be 100% safe.
However the main argument here is why not paypal.
If a re seller goes down, they group writes one court order, wins and paypal hands over ALL client details. with addresses etc.
Now assuming they get a hold of his wallet. and decide to dedicate a team to back tracking blockchain coins. It is possible but far from simple. and then they hit road blocks.
Bounce it back to a big mega wallet. Could, likely an exchange. Now they need to idetify what exchange owns that wallet as they are not labelled in most cases.
Assuming they've gotten to that point. Now they nee to ask the court to grant access. Sure, what country is that exchange in? Good luck with most.
But assuming they manage to get your info from the exchange. Assuming you had to kyc, they got YOUR name.
Now let's assume the re-seller has 1 million clients. How many times will the do the above process? we are talking thousands if not tens of thousands of court orders to different exchanges, BTM owners, Sales sites. Across who knows what country. Just to send you a letter.
Where as five minutes after paypal they can send a threatening letter to everyone.
Oh and if you bought the bitcoin for cash, ran it through a no kyc exchange. then purchased your even safer.
TL;DR Bitcoin is SAFE. It would take to much time, man power and money to get to your info.
Pay with bitcoin
Also stop using the term cold wallet as if it has ANYTHING to do with coin anonymity...
Feel free to post any questions here.
Thanks
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