What is Privacy (on-chain)?
Bitcoin is pseudonymous, not anonymous: every transaction is public forever, and addresses can often be linked to identities.
Chain analysis links addresses through common-input heuristics, change detection and timing. Once one address is tied to an identity, its transaction graph is exposed.
Practical hygiene: never reuse addresses, use coin control to keep unrelated funds separate, and be aware that any exchange withdrawal ties an identity to an address permanently.
Bitcoin is not anonymous. The ledger is fully public, and it does not forget.
Related terms
Address
A string encoding the conditions under which an output can be spent. Bitcoin's equivalent of an account…
Keys & custodyCoin control
A wallet feature that lets you choose which specific UTXOs a transaction spends.
Transactions & feesDust
A UTXO so small that spending it would cost more in fees than it is worth.
This definition is part of the Bitcoin Logical glossary. For the fuller explanation, start with Learn, or see the live numbers on The Bitcoin Signal.