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TorrentGalaxy Pleads Financial Difficulties, Asks Users to Chip In
(torrentfreak.com)
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this post was submitted on 30 Jan 2025
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Soliciting donations and using fucking bitcoin of all things is mind blowing to me. How are you gonna get your money out without everyone tracing you?
Bitcoin is pseudonymous - Transactions are transparent, yes, but the addresses are not linked to any PII - The exception comes in when the user uses a Centralised Exchange that does exactly this, it bridges anonymous addresses with PII via KYC.
Bitcoin can be sold anonymously using P2P DEXs (decentralised exchanges), where the fiat transaction has no link to Bitcoin.
That's assuming they even would want to sell.
All in all, it comes down to how the user uses the tool. Bitcoin can be as privacy preserving as anyone wants. But if they KYC, they can kiss any privacy goodbye, and really, that's the misunderstanding that has reached most non-Bitcoin users these days. Experiences based on a lack of understanding.