Bitcoin has significant limitations

[Tobi]

As somebody said below “Bitcoin has significant limitations regarding privacy. Specifically, because the Bitcoin transaction log is completely public, users’ privacy is protected only through the use of pseudonyms. What good are encrypted transactions when they are still stored in a blockchain database with immutable timestamps, while the users ip addresses are also timestamped and broadcast across the network”

 

[Fidelia]

It is only when a person has your wallet address that they can check the transactions that happened on your wallet.

 

[kit_hung]

Bitcoin’s privacy is a complex issue. All transactions are publicly recorded on the blockchain, and anyone can see the timestamps and permanently stored details. While some people try to hide their identities through anonymity, there is a risk that IP addresses can also be published online and tracked. This makes encryption a reliable way to maintain complete privacy, as the information is accessible to anyone who can examine it. So, while some may view the system as transparent, there are significant privacy gaps.