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So the question is, would Bitcoin or any other online currency, accept the removal of anonymity, in order to stay legal. Legally, I do not know what law says,
by rikacomet 13y ago
So the question is, would Bitcoin or any other online currency, accept the removal of anonymity, in order to stay legal.
Legally, I do not know what law says, but logically, no country would accept such exchanges, unless they communicate the details of bitcoin exchanges, for tax purposes.
As for paypal, though first part of their failure was due to RBI restrictions, they could have made a solution around it. There problem is more related their UI/UX now, nothing else.
I would stand by RBI on this, regardless of what anyone thinks. Bitcoin, might be satisfactory enough for most tech savvy people, but for a average farmer, whose interest must be protected by RBI (as its duty), won't trust it.
the author uses the word "opaque" in that sense. Have you ever tried to explain, how bitcoin stores money to a average Indian?
- andrewla 13y agoThere's a common view that the anonymity of Bitcoin is a design goal, instead of it being a design artifact. Making a non-anonymous currency is extremely difficult, not least because the notion of "identity" is hard to define in a decentralized manner. Given that addresses exist and can be used to sign messages, Bitcoins are, to a significant extent, less anonymous than cash, which is already widely used.
- rikacomet 13y agobut that brings us back to the same question asked again and again: What is the need for over the top anonymity? When were our hearts so fragile?
- mindslight 13y agoThis conversation is so fucking bizarre. Repeat after me: bitcoin is not anonymous. If anonymity was a design goal (and it should have been, because otherwise you don't actually have money), it didn't even attempt to address this goal.
- dragonwriter 13y ago> If anonymity was a design goal (and it should have been, because otherwise you don't actually have money) Wait, what?