All bitcoin and most other cyrptos are trackable, In fact, every bictoin ever mined can be traced threw all wallets it's passed through since the day it was mined, and that going back to 2009. That's not a surprise and has always been known by anyone and everyone with even a basic understanding of how it works.
But it is anonymous, at least unless & until it passes through a wallet with an identifiable owner, such as a a crypto exchange. At that point, the exchange could be contacted and an account owner could be identified via the KYC thing they all do. This is why hacked/stolen crypto is such a problem for hackers to liquidate, and some hacked BTC has sat untouched for years after it's theft because it's digitally tainted.
But for those that want privacy, some cryptos such as ZCash and Monero address this by obfuscating transactions so they cannot be seen or tracked. This level of privacy is both a feature and a liability when it comes to hacking.
I hope you didn't take my teasing you too seriously.
I am not up to speed on cryptocurrency, I don't understand where the initial lump sum came from to start up. It seems like a really elaborate Ponzi scheme to me.
I hope you didn't take my teasing you too seriously.
Of course not! Usually I catch those things though.
There was no initial sum of BTC. All BTC in existence is the result of mining. The first mining done took about 10 minutes on an 15 year old computer and yielded the first 50 bitcoin. Every 10 mins after that, 10 more bitcoin.
Imagine your computer making $5 million dollars every 10 minutes while you are eating lunch.
But the current value is the open market value. A ponzi scheme has funds tied up inside of a shady business that only gives you promises and, if your are lucky enough to be early, pays you. Bitcoin is not that at all.
What startup capital do you refer to? Bitcoin was innovative software some small few programmers made, and then they ran it on their PCs. Capital investment consisted of their computers and the electricity to power them.
Bitcoin was inevitable. Because it's decentralized, there was no stopping it. If it wasn't bitcoin, someone else would have thought up the idea later on.
Remember when Zuckerberg was called into congress to explain FB's proposed crypto? Had to look it up but it was going to be called Libra. They didn't call anyone into Congress for Bitcoin. Why? Because there was no one to call. As a decentralized entity, no one is in charge.
I don't agree with the idea that anything the Elite don't like don't succeed, ergo, anything and everything that succeeds is automatically a product of evil. That's defeatist thinking, or more to the point, inaccurate. There are stupid people everywhere, including in the Deep State ranks. Look at Victoria Nuland, for example. She opens her big mouth which is why she was eventually retired.
Even the Elite have to put up with stupid people on their side.