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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
by 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 agoWhat's powerful about it is that it's available to literally anyone as opposed to only financial institutions.
- agreenberg 5y agoSure, 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 agoThe 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.