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I agree that bitcoin's public ledger isn't conducive to anonymity (even with address mixers thrown in, and those are totally worthless given the high transactio

I agree that bitcoin's public ledger isn't conducive to anonymity (even with address mixers thrown in, and those are totally worthless given the high transaction fess). But that doesn't preclude a new layer on top of bitcoin, or using an alt-coin (monero) that has anonymity baked in. I would say that USD/Euros do have the risk of deanonymization (unlikely as it may be). The government would simply need to say "all bills $20 and over will be worthless in 2 weeks, you need to exchange them for new bills at your bank where your transaction will be recorded". India just did that with not 100 Rupees and higher.

acdha 9y ago
> But that doesn't preclude a new layer on top of bitcoin, or using an alt-coin (monero) that has anonymity baked in. Perhaps, but I'd want that technology to exist and be well peer-reviewed before even considering recommending it in a sensitive context. > I would say that USD/Euros do have the risk of deanonymization (unlikely as it may be). The government would simply need to say "all bills $20 and over will be worthless in 2 weeks, you need to exchange them for new bills at your bank where your transaction will be recorded". India just did that with not 100 Rupees and higher. Note that I was talking about that in the context of a stable currency used in an unstable country, where e.g. the Venezuelan government can't force the US Mint to do anything. However, either way that seems like a much better situation to be in because cash doesn't have a permanent history associated with every bill. Unless they setup the infrastructure to require everyone to record every transaction, all you'd need is one transaction to break the chain — take those new bills and buy dinner and who can link you to the change?