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What is privacy within blockchains

A look into what privacy means on blockchains and trying to make sense of the data from the block explorers

How would you feel if all your bank transactions were made public? everyone in the world can now see how much you spent on coffee and how much your rent is and basically all your financial data is now public. This is more or less what bitcoin does with one key difference, the account is identified by a 42 letter hexadecimal instead of your name or account number, you can off course spread your money in as many accounts as you would like but remember that they are all linked and everyone in the world can say with good probability that its owned by you and there isnt really much privacy to begin with.

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