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Not op, but I want to make private payments through the internet in the same way I can privately use cash in the real world. I’m not enamored with crypto per s
by loughnane 3y ago
Not op, but I want to make private payments through the internet in the same way I can privately use cash in the real world.
I’m not enamored with crypto per se, but as far as I know only crypto in general (and Monero in particular) are working on solving that problem.
- criddell 3y agoThe banks are also working on that problem through things like Venmo and Zelle. Tech companies like Apple and Google and PayPal have payment services too.
- loughnane 3y agoBut those aren’t private, right? There’s an entity in the middle that can see all the purchases I make.
- criddell 3y agoIf I use one of those to send you $500 right now, the entity in the middle can see that I sent you $500 but nothing more.
- loughnane 3y agoThat's too much for me. It adds up to that entity having a record of all my transactions, who they're with, and how much they are. Def not private like cash.
- criddell 3y agoIs it just the principle of it, or would fully private transactions solve an actual non-criminal financial problem?
- loughnane 3y agoA product that's a violates my principles _is_ a problem. More practically, being surveilled creates a data store about my life that can last forever, theoretically. It's hard to conceive how that could be used if (when) that data gets mishandled. Might as well not leave a trail.
- hx833001 3y agoYes, I hope the tech world gets very involved in this. Bitcoin is a horrible product for a cash replacement, since it is not private and the price fluctuates dramatically. We really should have a digital dollar or some gold, etc backed digital currency but it is absolutely essential that it is as or even more private than cash.