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I don't see this as prevention. I see a desire to prevent tax avoidance/evasion.
by r00fus 6y ago
I don't see this as prevention. I see a desire to prevent tax avoidance/evasion.
- kache_ 6y agoThey have already began preventing tax evasion using know your customer regulations & blockchain analysis, but this is not possible with protocols which obfuscate wallet addresses, their contents & transactions with cool cryptographic tricks like https://en.wikipedia.org/wiki/Ring_signature https://en.wikipedia.org/wiki/Ring_signature
- gruez 6y ago>but this is not possible with protocols which obfuscate wallet addresses, their contents & transactions with cool cryptographic tricks like https://en.wikipedia.org/wiki/Ring_signature https://en.wikipedia.org/wiki/Ring_signature Fancy cryptographic techniques won't do much good here. You can already do much of the same thing with cash, which is also untraceable. What the government ended up doing is essentially saying that any cash transaction over a certain amount is considered suspect until proven otherwise. For instance, a bank isn't going to allow you to deposit $50k in hundred dollar bills.
- aerovistae 6y agoThese two sentences seem....contradictory? You said it's not prevention then said it's prevention.
- r00fus 6y agoLet me clarify. The goal is not to prevent crypto usage, but to appropriately tax it so people don't use it to dodge taxes.