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That's an interesting theory. In practice, maintaining anonymous ownership of your assets on BTC is excruciatingly hard, because it's a public record. The org
by cduzz 4y ago
That's an interesting theory.
In practice, maintaining anonymous ownership of your assets on BTC is excruciatingly hard, because it's a public record.
The organizations that monopolize violence ("governments", typically) have ways of compelling people that simply ignore some magic number in a distributed database. Please do a thing or we'll do a thing to someone you care about. I suspect even Satochi would happily give up the private keys to avoid a visit to Lubyanka...
That's not to say that there's no value to these things, but real life violence trumps imaginary freedom.
- Bilal_io 4y agothe idea boils down to: If the government can see what's your bank account in details, and can seize it, and the government can see what's in your Bitcoin wallet but not with full transparency and cannot seize it, which is better?
- lolinder 4y agoDoes it really matter that they can't seize your crypto if they can disappear you? I guess you can take some cold comfort in the fact that your assets won't belong to the government, but they won't do you any good either.
- valcron1000 4y agoWell, I use crypto to bypass currency controls so there's your "imaginary freedom"
- cduzz 4y agoI'm not sure what is imaginary here. You believe you've done a thing in contravention of your government's laws. Perhaps you've done it and will not be caught. Perhaps you've done it and they haven't gotten around to asking you politely not to do this. Some crypto currency obviously leaves a paper trail for all to see; some states it doesn't and perhaps doesn't, but perhaps does. Autonomy to break a law and not get immediately punished for it isn't really freedom from that law. To clarify -- breaking a law is not imaginary. Maybe you've broken the law and haven't immediately faced any repercussion, but that doesn't mean that bypassing money laundering controls renders those money laundering controls or punishments for breaking the controls imaginary. (edited to add the clarification)