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This is a joke right? All crypto transactions become part of the permanent public record. If you ever want to exchange your garbage commodity for a useful curre
by stevebmark 4y ago
This is a joke right? All crypto transactions become part of the permanent public record. If you ever want to exchange your garbage commodity for a useful currency, you’ll be easily track able and outed.
- gojomo 4y agoNot all crypto transactions. Some blockchains effectively use advanced cryptography to obscure sender, recipient, & amount beyond any known methods of revealing them. Zcash & Monero are the leaders here. Zcash, used with its fully ‘shielded’ addresses, is theoretically strongest; Monero probably enough against most realistic threats – but maybe a very-deep-pocketed nation-state could decode some flows. But neither creates an ‘open Venmo’ or Bitcoin-like full public record of payers/payees/amounts for casual analysis by anyone. [Disclosure: I’m a compensated advisor to the company, now a nonprofit, that initially launched Zcash.]
- zen_1 4y agoPlease read about "privacy-preserving cryptocurrencies like Grin, Monero, and Zcash" and how they work. I can assume that you already have strong opinions against cryptocurrencies, but if you're going to critique privacy-coins, it's probably a good idea to have at least some understanding of how they work.
- ls15 4y agoPrivacy coins like Monero are not making all your transactions public and exchange to fiat gets only tracked with certain exchanges. One could as well sell it for cash on the streets.
- hanklazard 4y agoSome other projects / resources in addition to those mentioned by the siblings … https://railgun.ch https://railgun.ch https://aztec.network https://aztec.network https://dark.fi https://dark.fi