4 ms·
Yes, but conversely many blockchain technologies were pushed for "privacy". Maybe I misunderstand that word, since I stopped short of a PhD to fight in the cry
by dontbenebby 4y ago
Yes, but conversely many blockchain technologies were pushed for "privacy".
Maybe I misunderstand that word, since I stopped short of a PhD to fight in the crypto (as in cryptography) wars, but "privacy" doesn't just mean avoiding AML limits[1,2] and Bitcoin etc are MORE tracable[3] than cash, and this has been known since around the time of Bitcoin's inception.
Bitcoin and other crypto have value in that they are "Paypal killers" -- they take away power from abusive orgs like that company, that don't handle fraud complaints well.
To give a case study:
I was so angered when Paypal held hostage funds meant for victims of Hurricane Katrina around the time I was transitioning from boy to man, that I never registered for the service nor Ebay, and conducted all my shopping I could not accomplish on sites like Amazon via Craigslist, a where if I give you money and you try to walk away without giving me what I purchased, I could deal with them physically.
(But that never happened... I sometimes got annoyed people would pull schoolgirl crap like try to pay 10 bucks less for what I listed, but not have threat modeled that I have a car and most students, who did the bulk of craigslist furni transactions in that college town, didn't, so I could go down the list from buyer to buyer until someone paid what was agreed, while they were stuck in their dorm hoping someone from the internet brings them a coffee table with minimal drama at a fair price, then never returns.)
[1] https://en.wikipedia.org/wiki/Bank_Secrecy_Act#Currency_transaction_reports https://en.wikipedia.org/wiki/Bank_Secrecy_Act#Currency_tran...
[2] https://en.wikipedia.org/wiki/Structuring#United_States https://en.wikipedia.org/wiki/Structuring#United_States
[3] Eg: https://fc13.ifca.ai/proc/1-3.pdf https://fc13.ifca.ai/proc/1-3.pdf
[4] https://www.wired.com/2005/09/paypal-freezes-out-katrina-aid/ https://www.wired.com/2005/09/paypal-freezes-out-katrina-aid...