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EU plans to make Bitcoin transfers more traceable

bbc.com

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Re: EU plans to make Bitcoin transfers more traceable

#191

Post by OtomotO »

tehjoker wrote: post #174
bigyikes wrote: post #172

Earlier quoted context omitted.

> Stop fantasizing that the government cares about the shit you buy. This is not about you. It’s never about you, until it is. You should assume the government will do the maximum amount of evil given the power they are granted. This is the classic anti-privacy argument: this isn’t about you, you’re not doing anything wrong, you have nothing to hide, etc. Sure, there’s a pretty good chance that a random person, e.g.…

It's not that you're wrong, it's that the balance of power in the financial system is weighted strongly to the very rich, who own most of the money supply not held by banks and the treasury. Private transactions offer them incredible opportunities to screw the rest of us over.

And now the rich and powerful allow the politicians they own to limit their power by shedding light to their practices?

I kinda doubt the filthy rich will be affected

Re: EU plans to make Bitcoin transfers more traceable

#192

Post by OtomotO »

bryanrasmussen wrote: post #154
ekianjo wrote: post #147

Earlier quoted context omitted.

> You can’t show up in a bank with a bucket load of $100 bills and open an anonymous bank account. Well you shouldn’t be able to with bitcoins either. So we have to make a superior system inferior?

well, we had to make the superior system of cash inferior - as just described.

We didnt have to, some chose to.

I never voted for any of those clowns in power

Re: EU plans to make Bitcoin transfers more traceable

#193

Post by SnowProblem »

katbyte wrote: post #124
SnowProblem wrote: post #121

Earlier quoted context omitted.

Been hearing this since 2018. Meanwhile - Cryptofights alone did 600k transactions yesterday https://bsvdata.com - Hundreds of independent games, social media, wallets, exchanges, tokens, artwork, hackathons in general creativity. https://metastore.app - Solid user and developer experiences. https://handcash.io , https://moneybutton.com , https://cryptofights.io , https://run.network - Thousands globally who fly to a…

you didn't address `"Q"-like LARPer/fraudster figure`

The information is out there for people to make up their own mind. But if you are confident that CSW is larping as Satoshi, let's have some fun and make it a bet.

Re: EU plans to make Bitcoin transfers more traceable

#195

Post by TeMPOraL »

ceilingcorner wrote: post #171
d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Last time I checked, “society” is more than the monied class that makes up government and finance. Bizarre that I have to point this out on a site with the word hacker in its name.

It's not bizarre to realize society needs some constraints to function. A computer isn't just a bunch of electrons thrown into a box, much like society isn't just a bunch of people doing whatever they want.

Re: EU plans to make Bitcoin transfers more traceable

#196

Post by ur-whale »

lottin wrote: post #167
realcertify wrote: post #149

Earlier quoted context omitted.

I would argue with "society has clearly chosen" statement. The governments are putting more and more strict regulations in place for last decades and they often don't care what the society thinks about those. There used to be a time not long ago when one could show up in bank with a bunch of cash and it would be of no issue. I don't think that terrorism was less important back then.

Do you mean not long ago when the government budget was 1% of GDP? Nowadays it's 40-60%, in developed countries. Large levels of public spending are a choice that we have made as a society, and the spending needs to be funded somehow.

> Large levels of public spending are a choice that we have made as a society

It most certainly isn't a choice we've made democratically.

Rather, it's a case of boiling the frog: a thousand tiny cuts inflicted by elected politicians over the very long term which has slowly led to the monster size leech our government has become.

Re: EU plans to make Bitcoin transfers more traceable

#197

Post by Bancakes »

d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Funding terrorism and tax evasion are incredibly rare. I mean it, not-credibly rare. The main difficulty in discerning that is legality. Is this person/company evading taxes according to the law. Is this person allowed to purchase $5,000 of Syrian saffron on wish.com?

No, I'm afraid governments already track all data necessary to pursue and convict tax evasion and terrorists. We don't need to sacrifice this new, exciting technology because of bureaucratic laziness and FUD. $800 billion defense + $200 billion law enforcement should be enough to track all dozen suspected domestic terrorists in the USA, and Interpol/Nato/EU share technology with the USA.

Re: EU plans to make Bitcoin transfers more traceable

#198

Post by MrYellowP »

lottin wrote: post #167
realcertify wrote: post #149

Earlier quoted context omitted.

I would argue with "society has clearly chosen" statement. The governments are putting more and more strict regulations in place for last decades and they often don't care what the society thinks about those. There used to be a time not long ago when one could show up in bank with a bunch of cash and it would be of no issue. I don't think that terrorism was less important back then.

Do you mean not long ago when the government budget was 1% of GDP? Nowadays it's 40-60%, in developed countries. Large levels of public spending are a choice that we have made as a society, and the spending needs to be funded somehow.

Large levels of public spending are a choice made by politicians, not society. Society does only little in regards to politics.

All we do is make a glorified X every few years, allowed to choose between the plague and cancer. All they do is wasting our money and making life worse for everyone except themselves, their peers and the rich. It's like this at least everywhere in the western world.

If the last year hasn't shown you that, and the last decades didn't either, then I don't know what to tell you.

Re: EU plans to make Bitcoin transfers more traceable

#199

Post by stavros »

cmckn wrote: post #173
stavros wrote: post #63

Earlier quoted context omitted.

Except this is completely untrue, since there are private cryptocurrencies you can use.

You're not wrong, but this is really only relevant if a significant number of users actually treated these systems as currencies. Monero and others are not very popular, because the public transaction metadata of BTC and ETH doesn't matter if it's just a casino.

Certainly, but the GP talked about whether privacy exists, not whether it matters.

Re: EU plans to make Bitcoin transfers more traceable

#200

Post by dheera »

d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Since when is Bitcoin anonymous?

Buy one thing with Bitcoin with your shipping address and name and guess what, the seller can back track through the blockchain and knows your entire purchase history and crypto net worth.

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