111–120 of 199 posts
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And you'd still be wrong. There's nothing about bitcoin that makes payments untraceable (quite the opposite). It takes longer, but it's possible.
"It takes longer, but it's possible"? That's like saying decrypting RSA "takes longer, but it's possible". Yeah, good luck.
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And governments have all reason to believe that when people try hiding money streams from them it is for something illegal like tax evasion, money laundering, etc. I don't know about you, but I wouldn't like to live in a world with even more powerful criminal forces.
As I see it, the most powerful criminals control governments. And then they get to define whatever they don't like as criminal. The game is rigged. But fighting is pointless. It's better to just walk away.
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And you'd still be wrong. There's nothing about bitcoin that makes payments untraceable (quite the opposite). It takes longer, but it's possible.
"It takes longer, but it's possible"? That's like saying decrypting RSA "takes longer, but it's possible". Yeah, good luck.
If we want to draw the connection to cash, companies that trade in large amounts of cash are also subject to regulation and reporting. For example, U.S. financial institutions are required to file Currency Transaction Reports for deposit, withdrawal, exchange of currency, or other payment or transfer that involves more than $10,000. Any organization that is facilitating those trades is subject to financial regulation…
Regarding how awesome Bitcoin must be, can I just take a moment to point out that only half the reason crap like randomware exists (and hits places like hospitals, etc.) is suboptimal security. The other half is untraceable digital payments. Food for thought.
Bitcoin just became preferred is all. In no way did it "enable" ransomware to exist, it simply lowered the bar.
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There are all kinds of legal and legitimate reasons to pay for something in a way that isn't easily tracked. You can do it now with cash and it isn't illegal. Just because you want privacy does not mean you are a criminal.
Do you have any examples of those?
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"It takes longer, but it's possible"? That's like saying decrypting RSA "takes longer, but it's possible". Yeah, good luck.
There used to be ransomware that demanded cash by mail. RSA analogy? Way too harsh.
And I don't see why the RSA analogy is "too harsh". Impractical is impractical.
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Before you run away with your paranoid hat on, think about it the other way around: voters want something done about organized crime, and politicians look for the easy wins. Since large untraceable cash transactions are almost always criminal in nature, it makes sense to lower the weight of evidence required to seize unusually large amounts of cash. And frankly, I'm fairly comfortable with that. It'll never affect me…
Alternatively, the cops could do actual police work instead of robbing people of their cash at random. > And frankly, I'm fairly comfortable with that. It'll never affect me, because ... Statements such as those aren't sufficient justification for shredding freedoms that have existed for hundreds of years. It's also worth noting that the seized cash usually benefits the organization seizing it, creating a perverse in…
Here's what voting can get you: California Governor Signs New Criminal Conviction Requirement For Civil Forfeiture
https://www.forbes.com/sites/instituteforjustice/2016/09/29/...
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No, instead a small set of Chinese miners can obliterate the value instead.
Miners can't change the issuance schedule. They can only delete blocks and form new ones with valid* transactions, and only if they collude, and are okay with destroying the value of their capital assets. * transactions where the private key associated with a public key holding value authorizes an outgoing transfer of value.
If we want to draw the connection to cash, companies that trade in large amounts of cash are also subject to regulation and reporting. For example, U.S. financial institutions are required to file Currency Transaction Reports for deposit, withdrawal, exchange of currency, or other payment or transfer that involves more than $10,000. Any organization that is facilitating those trades is subject to financial regulation…
Regarding how awesome Bitcoin must be, can I just take a moment to point out that only half the reason crap like randomware exists (and hits places like hospitals, etc.) is suboptimal security. The other half is untraceable digital payments. Food for thought.
A little bit of background about this site (bitcoin.com). This site is owned by a very controversial figure in the bitcoin world (Roger Ver). Many people feel his use of the domain is unethical, as the URL looks like an official voice for bitcoin when it is far from it. Satoshi Nakamoto (bitcoin's creator) registered the bitcoin.org site to present information on bitcoin, with the .org domain reflecting the open sour…
Roger Ver isn't an angel, but the core developers are far from deserving uncritical respect. They've failed for 3+ years to implement any of the dozens of proposed scaling improvements.