21–30 of 87 posts
Earlier quoted context omitted.
Having to use digital currency for everything with no privacy and complete government control is going to be amazing, you're right!
If you read my comment, I explicitly said that we should keep cash.
It's great that they're supporting the lawsuit (and the plaintiffs seem very well selected). There's also a coincenter lawsuit on purely constitutional grounds ( https://www.coincenter.org/analysis-what-is-and-what-is-not-... ).
I think it’s wasted money. Infinite public money will be spent to bat down these lawsuits until it’s set in stone. Widespread privacy in crypto == end of civilisation. This sounds ridiculous but logically one has to follow the other in a few very short steps.
That does sound ridiculous. What are the steps?
It is interesting that I have strictly no empathy for the people defending "privacy" in crypto. I have it fully for the ability to pay in cash for our every day stuff. Privacy in crypto is basically reallowing tax havens in the " digital " world where we spent years to try to curtain them in the " real " world. A good friend of us happens to be working at a high level at the EU commission. Discussing about Bitcoin/Cr…
I think the point of this case is far less about privacy and crypto, but the fact that the US government sanctioned an entire piece of software. People use the software for privacy, and the government sanctioned it because it was being used for illegal things, but the fact that they can unilaterally sanction a piece of software is scary. Imagine if they sanctioned Tor Browser or Signal, both of which are used for pri…
Cash can and is used to buy/sell on the black market and also to buy/sell privately without leaving traces. But it is very difficult to move large amounts of money with cash. It means, it provides privacy with an acceptable level of freedom to do illegal stuff.
Privacy in crypto enables the same but it also allows bad actors to move extreme large amounts of money. The risks for the government are here so big, they cannot accept it.
Earlier quoted context omitted.
If you read my comment, I explicitly said that we should keep cash.
And what are you going to do if governments get rid of it? You have no recourse, only privacy coins like monero offer some.
You should not have knife at home, because you could kill somebody with one. We should allow full privacy on crypto, because the government could kill cash.
I strongly support the right to privacy in messaging, ie encrypted communication. However, I am much more hesitant with privacy in money transfers. It is not obvious to me at all that we should have unlimited unregulated money transfers. In fact, I fear that unreflected support for the latter might erode the (already tenuous) support for the former: Currently, we might still be in a position to regulate and disrupt c…
Pure privacy, without limitation, in money transfers would be catastrophic. Despite the consternation of hyperextreme libertarians sitting in their armchairs, the ability for the government to collect tax revenue is a pretty good thing and has broad societal benefits. Also allowing free flow of funds to terrorist groups is bad.
Also despite crypto allowing for pure privacy already with coins like Monero, this hasn't stopped tax revenue. It's not a black-or-white issue, because only a tiny fraction of people will utilise this privacy due to technical hurdles and other limitations compared to paying with cash or card.
This is not really about crypto, or tornado cash. I think it's more about ownership and surveillance. The only solution is to innovate in the area of evasion. Since there is no middle ground amenable to the ones who make the laws in their own interests.
We can just look at wikileaks, panama papers and so on. Money laundering and embezzlement is much more pervasive and rapaciously damaging in the highest levels of "power". Wealth "inequality" is an oligopoly of concentrated power and wealth.
It is interesting that I have strictly no empathy for the people defending "privacy" in crypto. I have it fully for the ability to pay in cash for our every day stuff. Privacy in crypto is basically reallowing tax havens in the " digital " world where we spent years to try to curtain them in the " real " world. A good friend of us happens to be working at a high level at the EU commission. Discussing about Bitcoin/Cr…
I think the point of this case is far less about privacy and crypto, but the fact that the US government sanctioned an entire piece of software. People use the software for privacy, and the government sanctioned it because it was being used for illegal things, but the fact that they can unilaterally sanction a piece of software is scary. Imagine if they sanctioned Tor Browser or Signal, both of which are used for pri…
Well they sanctioned the use of that software.
I don't really see why this is seen as such a problem. Banks that are used primarily for criminal activity get sanctioned frequently.
It's pretty clear judging by the amount of money going though Tornado cash and the amount that was from publicly known hacks known to be flowing through it that the majority of the money was from illegal activity.
> Imagine if they sanctioned Tor Browser or Signal, both of which are used for privacy and can be used for illegal activity.
But they didn't.
But forums that are focused on illegal activities get shutdown all the time.
But kudos where kudos are due! I hope this goes the way
Earlier quoted context omitted.
Having to use digital currency for everything with no privacy and complete government control is going to be amazing, you're right!
If you read my comment, I explicitly said that we should keep cash.
https://www.service-public.fr/particuliers/vosdroits/F10999#...).
(French government source)