Better than a bank transfer? Yes, significantly. The routing is onion-layered so intermediary nodes only see one hop. No central ledger logging every transaction. But "difficult to track" depends on who's looking. With BOLT11 invoices the recipient's node pubkey is right there in the invoice. Channel opens and closes hit the base chain where everything is visible forever. And big routing nodes sitting at network chokepoints can do timing correlation without breaking a sweat. It's not broken, but the privacy is more fragile than most people realize. That gap between perception and reality is exactly what the BOLT12 fight is about.