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One of the touted benefits of bitcoin and related cryptocurrencies is the fact that transactions on such networks cannot be easily censored, even though not man
by wallacoloo 9y ago
One of the touted benefits of bitcoin and related cryptocurrencies is the fact that transactions on such networks cannot be easily censored, even though not many people experience this kind of thing directly with classic currencies. Therefore, I find it amusing that a prime example of why we need non-censurable currencies is provided by the difficulty of exchanging them in the first place.
- panarky 9y agoAnalysts say more activity is moving underground, where individuals can send virtual currencies to each other using private addresses, which serve like safe-deposit boxes. Regulators will likely to have to tolerate noncommercial trading of virtual currencies. “The government also doesn’t have the power to control” that. --- Centralized exchanges have always been the achilles heel of cryptocurrency ecosystem. Better to keep it distributed with (a) smart contracts and (b) lightning network.