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Incorrect on all points. Bitcoin is as private or transparent as we need it to be. Bank account transactions are done on a higher-layer payment network than the
by npoc 2y ago
Incorrect on all points. Bitcoin is as private or transparent as we need it to be. Bank account transactions are done on a higher-layer payment network than the base inter-bank clearance network, and the equivalent payment system for bitcoin would be either a bank account nominated in bitcoin, or for a decentralised solution, the lightning network which is instant and can cost less than 0.1% per transaction (compare that to 3% or more for VISA/Mastercard transactions). The bitcoin base layer can transfer trillions of dollars worth of value around the world with full final clearance in less than an hour and for around $2 currently (i.e. 0.0000002% transaction fee for $1B).
As for removing control of the supply from government - that is exactly the point: https://x.com/KenOKeefe1TJP/status/1875962999195816261 https://x.com/KenOKeefe1TJP/status/1875962999195816261