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It's funny how crypto became branded as "decentralized" when actually it's the exact opposite. Every single transaction ever made is recorded onto a single cent
by roncesvalles 1y ago
It's funny how crypto became branded as "decentralized" when actually it's the exact opposite. Every single transaction ever made is recorded onto a single central ledger. It's not even anonymous; pseudonymity (your wallet address) is not anonymity.
It is in fact cash that is decentralized and anonymous. If I go into a dark alley and give you a $100 bill, there is not a single soul other than you and me who knows about the transaction that took place.
- mmooss 1y agoCash eventually passes through banks: Can't the read the serial numbers, and pretty easily at this point? It's not like tracking credit card or Venmo transactions, but if you take out $500 and give it to someone who deposits it, and if they read the serial numbers, it's clear what happened.
- deleted 1y ago[deleted]
- deleted 1y ago[deleted]
- conorcleary 1y agoCrypto tornados for rough anonymization