5 ms·

The term I like to use is "censorship resistant." Bitcoin and most other cryptocurrencies have this property. The idea is that no central authority can censor

• PeterisP 8y ago
  On the other hand, all the major central authorities have asserted that they do have the right to censor how the residents of their jurisdiction spend money, so they consider that any payment system that's truly censorship resistant and anonymous must be prevented from interacting with the wider economy unless it surrenders these properties. I.e. the requirement to report all large cash transactions and prevent anonymity in such deals; the 'know your customer' requirement for cryptocurrency exchanges, etc. Even if your "money" is censorship resistant, transacting with a legitimate business can't be, since all legitimate businesses can be (and are) required to censor certain transactions; and if a particular "kind of money" makes it impossible to distinguish them, then it may well be that these businesses will (or will have to) simply censor the whole "kind of money".