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Indeed, this is one of my primary points as well. I've been trying to tell people like Max Keiser that for all its good, BTC is not anonymous, which is one of t
by arca_vorago 9y ago
Indeed, this is one of my primary points as well. I've been trying to tell people like Max Keiser that for all its good, BTC is not anonymous, which is one of the primary functions of cash. The totalitarian surveillance society would love to track everyone's purchases.
On top of that, the other problem is that in a fiat fractional reserve system, there's not much stopping the big central bankers from poofing some old currency into existence so they can buy up lots of BTC et al.
That's why right now I am leaning towards Monero and similar at least semi-anonymous coins (without having to use a tumbler separate).
- ballenf 9y agoI see the privacy potential of cryptocurrency the same the privacy potential of the internet: for the average person it will be a disaster.
- deleted 9y ago[deleted]
- tenaciousDaniel 9y agoAs a counter point, you could argue that the pseudonymous nature of cryptocurrency is simply another technological hurdle that, like the scalability problem, can be overcome in time.
- semiel 9y agoYep, and we pretty much know what the solution will look like: zero-knowledge proofs, such as the ones used by ZCash.
- EthanHeilman 9y agozeroCash is a pretty good starting point to a solution to the privacy problem.
- nobodyorother 9y agoNot really. The trouble with deanonymization in a network is that as soon as anyone fails to follow the proper privacy protocol, the entire network can be unmasked through the social graph. For example, Flickr users have been identified by their Twitter connections: https://arstechnica.com/tech-policy/2009/03/pulling-back-the-curtain-on-anonymous-twitterers/ https://arstechnica.com/tech-policy/2009/03/pulling-back-the...
- glenneroo 9y agoI would imagine Palantir has been working on this since cryptocurrencies started being becoming popular, even though they have denied it[0]. Or somebody else such as SABR[1]. [0] https://www.coindesk.com/palantir-quantum-bitcoin-cloud-mining/ https://www.coindesk.com/palantir-quantum-bitcoin-cloud-mini... [1] https://bravenewcoin.com/news/sabr-palantir-for-the-blockchain/ https://bravenewcoin.com/news/sabr-palantir-for-the-blockcha...
- iopuy 9y agoVerge would be another cryptocurrency that comes with anonymity baked in and considering it uses TOR network, I'd venture to say it is the best tool for protecting your privacy.