"The very essence of bit is it's untracability. I think even the starting process to purchase something with bitcoin is done on Tor mostly."
People think that, but it's not true. Even tor has been comprised by our government. You should look into the ledger thing, it's way too complicated to explain here. The miners verify the transaction, and then it (the transaction) gets posted to the ledger. There's a sequence, if there's a mistake or fraud, it screws up the ledger, and everyone can see it. But that's a simple explanation, in reality it's much more complex.
Don't confuse bitcoin with these other coins either. BTC may not be anonymous but other coins are going for that angle. Etherium is one, and they're the one with the contracts. Some big banks are investing in that technology.
At the moment there's a finite number of bitcoin, but like I said, lots of drama in BTC land.
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