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You are misinformed. With most cryptocurrencies (except Monero) it is very easy to blacklist wallets, and since tx history is public you can't just move your co
by easrng 5y ago
You are misinformed. With most cryptocurrencies (except Monero) it is very easy to blacklist wallets, and since tx history is public you can't just move your coins to a new address to get around it either. You don't actually even need decentralized systems for private transactions, digicash with blind signatures would be private and vastly more efficient.
- nwiswell 5y agoI think "very easy" is relative. How do you get the whole world to agree to participate in the blacklist (or even to be aware of it)? If you don't, then obviously it will remain possible to tumble/launder the coins. By comparison, if PayPal decides to freeze your account, that's it, the end, those funds are frozen unless and until you successfully run the corporate supplication gauntlet.
- easrng 5y agoYou don't need the whole world, just the exchanges. And and some ERC20 tokens can have addresses frozen by a central authority (ex. USDC and Circle, USDT and Tether, etc) which is why the attacker immediately sold the USDC for ETH on 1inch and Uniswap.
- nwiswell 5y ago> You don't need the whole world, just the exchanges. Then you just tumble the coins and head to an exchange.
- netheril96 5y ago> You don't need the whole world, just the exchanges. But there are a whole world of exchanges. Anyone can make an exchange. Any one can also trade in person.
- dorgo 5y agoI think what gp means is to tell all the exchanges (and maybe merchants) to blacklist your wallet. Not as simple and bullet proof as PayPal freezing your account but similar.
- anchpop 5y agoOn Ethereum you can you decentralized tumblers like Tornado Cash