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It doesn't have to have a coercive power behind it enforcing it's use. It has a natural benefit, which is anonymity (when used the right way). People want to us
by hello_marmalade 9y ago
It doesn't have to have a coercive power behind it enforcing it's use. It has a natural benefit, which is anonymity (when used the right way). People want to use Bitcoin as a currency. It doesn't need to supplant normal money, just be an addition to it.
- acdha 9y agoIt's dangerous to push anonymity as a benefit of the current implementations: if you make a mistake or traffic analysis links you to any transaction, every transaction you've ever made is de-anonymized. That's a far worse failure mode than cash and it'll take more than a tumbler to fix to the point of confidence.
- hello_marmalade 9y agoI did say "when used the right way". For various activities it allows you to mask your identity while making purchases online far better than the alternative of using your credit card or PayPal or something.
- acdha 9y agoWhat do you define as “the right way” and how hard is it for the average person to follow? Given the high opsec requirements, I think it's irresponsible to advertise an anonymity service which fails in a way which provides an irrevocable public record of every transaction.
- AndrewKemendo 9y agoExcept it's not anonymous, in fact it's LESS anonymous than cash, by a significant margin. https://en.bitcoin.it/wiki/Anonymity https://en.bitcoin.it/wiki/Anonymity