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The only thing stunning about this, is how anyone ever could've believed that cryptocurrencies would not end in the dystopian future of a government knowing eve
by idownvoted 5y ago
The only thing stunning about this, is how anyone ever could've believed that cryptocurrencies would not end in the dystopian future of a government knowing every single transaction of yours plus being able to confiscate every single e-penny at will.
- no_time 5y agoOptimism and naivety on my part. When I bought a few (legal) things with bitcoin I have acquired from my friend around 2014 I really thought I was living in a better, more free future. Reality only started to dissapoint me more and more from there. >government knowing every single transaction of yours plus being able to confiscate every single e-penny at will. That can already happen with or without crypto.
- idownvoted 5y ago> That can already happen with or without crypto. True but not in such a centralized way. You can have less tangible assets like Gold or Cash. Your stock notes are physically deposited somewhere else. Your home ownership will exist somewhere else. Contracts, Health- or Welfare entitlements, Child Support Claims exist on their own and somewhere else. Some will mail you a check, or wire the money to different bank accounts. Or you have to collect it physically. Now imagine if all of that has moved to the "anonymous" blockchain and you're an "apostate" (e.g. a US socialist in the 1950s, a devout muslim in the 2000s, a Trump supporter yesterday or a corona-restrictions critic today). We will learn the hard way that inefficiencies can be a feature and not a bug.