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Decreased privacy for everyday users. Increased privacy for those with the time, resources, and incentives to find ways to orchestrate transfers that can't be t
by NickM 6y ago
Decreased privacy for everyday users. Increased privacy for those with the time, resources, and incentives to find ways to orchestrate transfers that can't be tied back to them. In other words, the worst of both worlds.
- nprz 6y agoHow come so few Silk Road market place vendors were arrested if it decreased privacy? Many people on the SR were just everyday users. I don't think the argument that it's a step down in privacy is valid at all.
- colinmhayes 6y agoIt's completely possible to remain anonymous with btc, but a big enough pain in the ass that only people who are committing crimes will do it. Everyone else will at some point link their identity to their wallet and all of their transaction and transaction amounts are then public record.
- nprz 6y agoYes, but the option is there. How does one protect their identity with a credit card transaction? The argument that BTC is not private doesn't seem to hold up.
- renewiltord 6y agoI guess we could go through a challenge. You set up a Stripe page or some such thing and someone else can set up a BTC wallet. I will spend a dollar with my CC on your Stripe site and I will spend a dollar equivalent to that BTC wallet. Then I will make two other secret transactions with the CC and the BTC wallet. You can each then try to identify the targets and the sums spent in the secret transactions. Whoever identifies gets some sum of money from the other. I'm happy to escrow for you.
- beambot 6y agoLet's be real: Everyday users just resort to credit cards, which have zero privacy. Only those with the time, resources, & incentives to transact away from credit cards get increased privacy.
- mdoms 6y agoMy CC statement is not on a public distributed ledger.
- nprz 6y agoYou are fooling yourself if you believe using a credit card affords you any kind of privacy. https://www.aclu.org/blog/privacy-technology/consumer-privacy/why-dont-we-have-more-privacy-when-we-use-credit-card https://www.aclu.org/blog/privacy-technology/consumer-privac...
- mdoms 6y agoMy CC statement is not on a public distributed ledger.
- nprz 6y agoWho cares? You have the option to completely anonymize your transactions with BTC, this option does not exist with credit cards, in fact you have no idea who is doing what with your data. If privacy is your concern, BTC is the superior option.
- mdoms 6y ago> If privacy is your concern, BTC is the superior option Bitcoin is a public ledger. It is AT BEST pseudonymous. At best.
- nprz 6y agoYou'll notice users of the silk road who were risking life in prison used BTC, not credit cards, as their form of payment. If it truly was trivial to link a wallet to your IRL identity every user of the site would have been charged with multiple felonies, and yet that never happened.