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I am not fine with having every one of my transactions being 100% transparent to my government. Because that's the only alternative to Bitcoin^W cryptocurrency,
by selfhoster11 5y ago
I am not fine with having every one of my transactions being 100% transparent to my government. Because that's the only alternative to Bitcoin^W cryptocurrency, given that real cash is on its deathbed for some reason. Bitcoin may very transparent, but other currencies like Monero are much better in that regard.
As to why >100% transparency is a desirable property, see recent regime changes and imagine how easy it would be to persecute the friends of the old regime by simply looking at their purchase history.
Edit:
- scrose 5y agoHuh? Bitcoin records every transaction you make on a public ledger that anyone in the world can view. Anyone who knows your wallet address can track your purchases
- selfhoster11 5y agoBitcoin does, but it's not the only blockchain currency around. Some have more robust privacy guarantees. As far as I can tell, this rule in China bans those too.
- FabHK 5y agoI'd say that cash transactions are less transparent than BTC's public ledger.
- selfhoster11 5y agoMonero and similar currencies are available for those interested.
- OJFord 5y agoI'm not saying I agree, but GP didn't say the converse - the framing was 'cash is going ['on its deathbed'], and I'm not happy with the mainstream replacements'.
- FabHK 5y agoYou're right. Even then, I'd say one should agitate for non-traceable digital central bank cash.
- deleted 5y ago[deleted]