Chainalysis CTO said blockchain is easier to trace than paper money
lancengym.medium.com
Chainalysis CTO said blockchain is easier to trace than paper money
1–10 of 328 posts
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#2So we are reading "Bitcoin has failed." for the 24982424 time and this time from a VC that writes on medium? Bad take.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#3Functional money is built around trust and consensus.
A critical weakness of crypto is that the actors involved are *less* trustworthy than government.
And this lack of trust and transparency and oversight; combined with the fact that anyone and his brother can mint their own crypto, makes a general consensus on the value of crypto unlikely.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#4Entirely traceable money is easier to trace than borderline untraceable money? Great.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#5Functional money is built around trust and consensus. A critical weakness of crypto is that the actors involved are *less* trustworthy than government. And this lack of trust and transparency and oversight; combined with the fact that anyone and his brother can mint their own crypto, makes a general consensus on the value of crypto unlikely.
The lack of trust means that the only thing left to guarantee (to a normal person) that the system is working is transparency.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#6Entirely traceable money is easier to trace than borderline untraceable money? Great.
Most people still have no idea that a blockchain is 100% traceable. People get freaked out when you tell them the contents of their wallets.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#7Wow, Sherlock Holmes?
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#8Yeah, it's entirely built on the idea that every transaction is known by everyone. I think Lance is a bit confused. Maybe he should look into Monero.
The point of Bitcoin is to enable anyone to exchange value with anyone. And it does that very well. When the US justice department declared that credit card companies had to stop processing donations to wikileaks I could still donate through bitcoin.
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#9Water is wet, whoaaaa Cpt.Obvious
Re: Chainalysis CTO said blockchain is easier to trace than paper money
#10Only the people that don't know what the words "open" and "ledger" means.