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If a population really did adopt a single payment network, the goverment could issue a blacklist of accounts that you can be punished for transacting with. thi

If a population really did adopt a single payment network, the goverment could issue a blacklist of accounts that you can be punished for transacting with. think of the power the US government has to freeze the funds of russian oligarchs - blockchain allows at least a version of this: not to freeze the funds, but to prohibit sending or receiving funds from a certain address vendors could happily subscribe to this blacklist to ensure legal compliance (an RSS feed will do but thats just me)

qecez 5y ago
Bitcoin is perfectly fungible, if you know what you're doing. Even beyond this, there are no "accounts" or "addresses" on the Lightning Network - its privacy is superb.
- jazzyjackson 5y ago
  I haven’t looked at lightning since it was vaporware so I’ll have to check that out… I don’t know much about channels, is there really no public ledger in that case?
  - qecez 5y ago
    Same thing, tried dipping my toes a couple of years ago, payments would often fail, gui inexistent, etc. But we've come a long way since then. For starters, download bluewallet and get some free sats to play around with: https://lnfaucet.com https://lnfaucet.com https://fixedfloat.com/lightning-faucet https://fixedfloat.com/lightning-faucet Quite a rabbit hole you're falling into. And no, there's no public ledger.
woutr_be 5y ago
Wouldn’t that be incredibly easy to circumvent? Just create a new address for each transaction?
- jazzyjackson 5y ago
  with what money? the blockchain is the all seeing eye, if you move a penny from one wallet to another, that wallet gets blacklisted too. (not to mention you eat the transaction fee every time you try it!)
  - jstanley 5y ago
    If that's really how it works, then you can get everyone's addresses blacklisted by just sending tiny amounts of money to them.
    - jazzyjackson 5y ago
      …you got me there! probably not a smart thing to automate, but I’m sure they will try
  - qecez 5y ago
    Transactions on Bitcoin's layer 2 (the Lightning Network) are extremely private and there's no way to blacklist anything.

qecez 5y ago

Bitcoin is perfectly fungible, if you know what you're doing. Even beyond this, there are no "accounts" or "addresses" on the Lightning Network - its privacy is superb.

jazzyjackson 5y ago
I haven’t looked at lightning since it was vaporware so I’ll have to check that out… I don’t know much about channels, is there really no public ledger in that case?
- qecez 5y ago
  Same thing, tried dipping my toes a couple of years ago, payments would often fail, gui inexistent, etc. But we've come a long way since then. For starters, download bluewallet and get some free sats to play around with: https://lnfaucet.com https://lnfaucet.com https://fixedfloat.com/lightning-faucet https://fixedfloat.com/lightning-faucet Quite a rabbit hole you're falling into. And no, there's no public ledger.

woutr_be 5y ago

Wouldn’t that be incredibly easy to circumvent? Just create a new address for each transaction?

jazzyjackson 5y ago
with what money? the blockchain is the all seeing eye, if you move a penny from one wallet to another, that wallet gets blacklisted too. (not to mention you eat the transaction fee every time you try it!)
- jstanley 5y ago
  If that's really how it works, then you can get everyone's addresses blacklisted by just sending tiny amounts of money to them.
  - jazzyjackson 5y ago
    …you got me there! probably not a smart thing to automate, but I’m sure they will try
- qecez 5y ago
  Transactions on Bitcoin's layer 2 (the Lightning Network) are extremely private and there's no way to blacklist anything.