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with open ledgers everyone can see your revenue. This isn't something businesses want to show competitors. Anything that can obscure your wallet (which gives aw
by toolz 4y ago
with open ledgers everyone can see your revenue. This isn't something businesses want to show competitors. Anything that can obscure your wallet (which gives away how much you own as well as shows income) can help obscure this data, which is extremely valuable to some types of businesses.
I'm sure there are other examples, but this is a good one off the top of my head and I personally have used mixers for this very purpose - to allow someone to pay me for a white-market trade without exposing how much crypto I owned in my wallet.
- jfim 4y agoHadn't considered the fact that wallet balances are public, but it seems like a rather niche need as opposed to having the ability to launder funds and irrevocably transfer them. The latter I believe is very appealing to people who are transferring proceeds from criminal activities. Thanks for sharing though, I hadn't thought of wanting to hide one's wallet balance from other people as a need.
- toolz 4y agoYeah, no doubt it's attractive for money laundering, but the thing is that it's impossible to stop at this point. There are entire digital currencies built on top of zero-knowledge transactions at this point and they aren't hard to get your hands on those coins in my experience. With that in mind, if in fact it's impossible to stop, it seems rather arbitrary to pick and choose which products get targeted and serves no real purpose to even slow down the undesired behavior.
- jfim 4y agoThat's a fair point. Not knowing much about the space, I assume that they picked an important mixer. If that's not the case, then maybe it's just for show and it won't have a meaningful impact, just like the war on drugs hasn't really stopped drugs from being consumed.