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Bitcoins’ biggest strength is also its weakness: anonymity. It only takes a few bad actors to do something nefarious for the US to ban it. After the ban Bitco
by victor106 6y ago
Bitcoins’ biggest strength is also its weakness: anonymity.
It only takes a few bad actors to do something nefarious for the US to ban it. After the ban Bitcoin might still continue to exist but it won’t be institutionalized and so it will loose it’s appeal.
Also, for people who think the US does not have the power to ban it, see this:
https://en.m.wikipedia.org/wiki/Gold_Reserve_Act#Litigation_arising_from_GRA https://en.m.wikipedia.org/wiki/Gold_Reserve_Act#Litigation_...
- Jommi 6y agoIt's 2021 and there are still people that think Bitcoin is anonymous. It's not. It's pseudonym ous.
- victor106 6y agoYou are right. By anonymous I meant if the user takes reasonable precautions then it’s very very hard for law enforcement to know who that user is. The transaction log is public but who is actually behind those transactions is not.
- Jommi 6y agoI dont think thats fair either. The transactions are public and the addrresses are public and addresses are basically just unique usernames. So you always know what address is behind a transaction, but ownership info is not always guaranteed.