I agree with you and the article. I believe that crypto currencies solve if you need privacy with your money use case. What I think is that governments are interested in seeing we’re every penny goes so they can tax you properly. Centralized banks are somehow governments agents, they report were every penny goes. With regards to the money you had in your wallet, it was never your full assets, but the money you got to spend on something you don’t care and you do not want people to know what it was. This is your crypto wallet.
The blockchain is public and immutable. There is no privacy. Every transaction of every coin everywhere is completely visible. Even if you run BTC through a tumbler...the overall flow of BTC is going to be moving towards whichever wallet holds it at the end of the chain when a physical transaction takes place.
At which point if the physical transaction is picked up, the entire chain unrolls back to every initial source.
