this post was submitted on 21 Feb 2024
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But crypto is untraceable and can't be frozen, it's your money!
Have my crypto bros led me astray? Is it all just a pyramid scheme? 😢
They probably mean accounts on exchanges.
Kinda hard to lock a wallet u don't have the seed for.
It's not untraceable when your addresses are public so people can send you money, and if you want to exchange it for dollars you have to sell it somewhere - usually people even keep it on a public exchange which completely voids all of the benefits.
Kinda like having a VPN where you publicly advertise what IP you use, what sites you visit, and keep a list of it all on your PC that the police get when they raid your home.
VPN gives you privacy, and crypto is untraceable and cannot be frozen, but only if they are used right.
most cryptos are pseudonymous. so, nobody knows who you are until you inevitably tie that pseudonym back to yourself somehow. like if you attempt to cash out, or use that pseudonym (wallet) to pay for something that could be linked to your real identity.