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Of course, everybody should do that. But since we live in an imperfect world, not everybody will do it. As you're saying, this should be implemented in the BTC
by codeshaman 12y ago
Of course, everybody should do that. But since we live in an imperfect world, not everybody will do it.
As you're saying, this should be implemented in the BTC clients themselves and they should not let you make large transfers without first warning of the dangers. But what if you're buying a boat or a car or a house ?
I've lived in the ex Soviet Union in the 90's and extorsion through torture was a common thing back then.
But now we might see the 21st century version of those guys, probably a bit more gentle - no need to shoot or kill people, just force them to press Enter and you're done.
- icebraining 12y agoIf you're buying a boat or a car, you'll have to do a big transfer. But how is that any different than buying something expensive using a bank account? It's not a new problem with cryptocurrencies.
- mehwoot 12y agothan buying something expensive using a bank account Because a robber can't demand you transfer money from your bank account and expect not to be traced, that's why.
- throwaway84356 12y agoYour bank wire doesn't leak the balance of your account to the recipient. It is a new and unique problem with some cryptocurrencies. Of course, we have already proposed solutions to problem this with ring signatures, stealth addresses, 'coinjoin', 'zerocash', 'TITAN', etc.
- icebraining 12y agoAs I wrote, you can simply move money around so that the final transfer doesn't reveal your original balance, e.g. if I have a balance on address A of 30 and I want to pay something that costs 4, I can just create multiple addresses where I move and subdivide the 30 until the last address only has a little over 4. The recipient has no sure way of knowing that the original address was mine - I might just have withdrawn from a service like Coinbase.
- deleted 12y ago[deleted]