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Author of the article here. Can't help but ask: Do you not believe that Bitcoin's blockchain sometimes allows powerful forms of financial tracking? Are you awar

Author of the article here. Can't help but ask: Do you not believe that Bitcoin's blockchain sometimes allows powerful forms of financial tracking? Are you aware there's a whole industry that of companies designed to do exactly this?

celticninja 5y ago
What is powerful about it compared to standard financial tracking? What would less powerful financial tracking look like? Sounds like hyperbole to make it sound more exciting rather than an accurate description of the process.
- anonyxyz 5y ago
  What's powerful about it is that it's available to literally anyone as opposed to only financial institutions.
- agreenberg 5y ago
  Sure, traditional finance is also subject to powerful forms of financial tracking. (Though in some respects, Bitcoin is even less private: https://www.wired.com/story/bitcoin-drug-deals-silk-road-blockchain/ https://www.wired.com/story/bitcoin-drug-deals-silk-road-blo...) Monero is designed not to be, and that is pretty clearly the contrast I'm describing here.
- wpietri 5y ago
  The standard financial tracking of cash, which is almost none? The standard financial tracking of a single bank account, which requires a subpoena? The standard financial tracking for a single person, which requires many requests to different data-holders and then a fair bit of work to unify it? In contrast, Bitcoin has a public global pseudonymous ledger. No warrants needed, a copy is freely available. Letting you trace flows of money from account to account instantly with no vendor issues and no judge to convince. Sounds powerful to me! The article's phrasing is both correct and reasonable. And the reason to not explain every detail in a general-audience article is that most people don't care about the details. If they did, they wouldn't be reading general-audience material, but more specialized stuff.
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brighton36 5y ago
Don't let this guy get to you. He's probably invested in Bitcoin, and wills ignorance of any information that isn't confidence inspiring.

celticninja 5y ago

What is powerful about it compared to standard financial tracking? What would less powerful financial tracking look like? Sounds like hyperbole to make it sound more exciting rather than an accurate description of the process.

anonyxyz 5y ago
What's powerful about it is that it's available to literally anyone as opposed to only financial institutions.
agreenberg 5y ago
Sure, traditional finance is also subject to powerful forms of financial tracking. (Though in some respects, Bitcoin is even less private: https://www.wired.com/story/bitcoin-drug-deals-silk-road-blockchain/ https://www.wired.com/story/bitcoin-drug-deals-silk-road-blo...) Monero is designed not to be, and that is pretty clearly the contrast I'm describing here.
wpietri 5y ago
The standard financial tracking of cash, which is almost none? The standard financial tracking of a single bank account, which requires a subpoena? The standard financial tracking for a single person, which requires many requests to different data-holders and then a fair bit of work to unify it? In contrast, Bitcoin has a public global pseudonymous ledger. No warrants needed, a copy is freely available. Letting you trace flows of money from account to account instantly with no vendor issues and no judge to convince. Sounds powerful to me! The article's phrasing is both correct and reasonable. And the reason to not explain every detail in a general-audience article is that most people don't care about the details. If they did, they wouldn't be reading general-audience material, but more specialized stuff.

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brighton36 5y ago

Don't let this guy get to you. He's probably invested in Bitcoin, and wills ignorance of any information that isn't confidence inspiring.