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This is a perfect use case for crypto/stable coins
by zoklet-enjoyer 1y ago
This is a perfect use case for crypto/stable coins
- altairprime 1y agoIf only they weren’t so intent on being untraceable, they could well have served that purpose by now. Sigh.
- zoklet-enjoyer 1y agoEthereum, Polygon, Base, etc are not untraceable. The only untraceable ones I can think of off the top of my head are Monero and Secret Network.
- altairprime 1y agoI didn’t realize we knew who owned the Satoshi cold wallets! When did they figure that out, and how? What definition of traceable are you using? I meant, to a specific person (miner) who wrote value into the system — which could also include a specific cash register or ATM that traded currency for coin, depending on whether it’s a postpaid or a prepaid Visa/MC that we’re comparing to, I suppose. They only charge a few percent extra overhead to issue relatively anonymous prepaid cards, which people either choose to pay or not, but the coin systems have traditionally been operated without the identifiable, lower-overhead, lower-risk tier of users that could have supported a viable postpaid network competitor. To the best of my understanding — am I wrong here? — all coin systems are exclusively unconcerned with the user’s identity other than their password, so their traceability is close to zero without a criminal investigation and wrench takeovers, which makes it adoption almost wholly unviable. (US folks trying to convert coins to currency without paying taxes may differ, but that’s a relatively new regulatory push and has no particular impact on the majority of worldwide coin users.)
- dminik 1y agoBitcoin is only pseudonymous. Inside the network everything is public and traceable, but not personally identifiable. Where you lose anonymity is with inflows and outflows to the real world. You may only be able to buy cryptocurrency from a KYC seller. Or your payment can be traced. Or you buy something from an already identified seller. Ironically, a lot of the anonymity of Bitcoin comes from the anonymity of physical cash. If employers started paying out salaries using Bitcoin, it would suddenly be really easy to identify wallets.
- drdeca 1y agoWell, they are more traceable than cash. I don’t think there should be an obligation that money be substantially more traceable than is provided by bills having unique IDs on them..
- mvieira38 1y agoCash is "untraceable", are you sighing at that too?
- wallst07 1y agoWhat are you talking about and who is they?
- wmf 1y agoSounds like you'd love Taler. I haven't seen much adoption so far.
- altairprime 1y agoYou know, that’s a pretty cool idea. Thanks for pointing it out!