And how do you store this cash? In your mattress? It is literally impossible for an individual to protect stores of cash and if you use the system then you are susceptible to seizure of those funds. Hey try this, goto your bank and withraw 10k and ask for 1000 dollar bills and see what happens.
And I am saying the only solution to that is a combination of political and also making sure that no one can control the block chain, not even the miners.
Citing anonymity as a solution to that problem is disingenuous.
Edit: my point is privacy technology may be useful, but isn't as Godly-damned-important as Monero's community wants to force us to believe. My only point is chillax.
Again I am not claiming that privacy technology is useless (but fighting the State with anonymity is a delusional pita):
This comment:
It is not dumb that n00bs don't know the technology and game theory economics. What is dumb is when n00bs (such as the Bitcoin maximalist comments in this thread) think they know something about an issue that is far too complex for them to be comprehend without deep research that they are unwilling or incapable of doing. This is known as the Dunning-Kruger effect.
So many dumb comments in this thread by Bitcoin maximalists who will invent any excuse possible to remain in denial of the fact that
...
Applies to all of the following incorrect posts:
For me it is complete anonymous. You cant tell my address of cold storage wallets. Only my spending wallet addresses arr visible. No body knows how much i m holding. During tx don't include outputs from address tagged to you.
I just like the technology and since I have no transactions in which I need to be anonymous about at the present, it doesn't concern me that much.
I think bitcoin anonymous enough for me, because I am dealing with bitcoin without being able to be tracked. But you have to use it addreas bitcoin only one of each transaction to keep your anonymous. Thank you
yeah i think its good enough. Yes, i know its still possibly to back trace from blockchain but its pretty hard if you use multiple addresses and to be more anonymous use a bitcoin mixer. I am not doing anything "illegal" with bitcoin so I don't need to be worried much
For me, anonymity does not matter too much. I bought things from online stores. They know my address anyway.
I think bitcoin anonymous is enough for me, because we no need verification or doing something to use bitcoin, not like paypal, you need verification your profile and credit card. it's not anonymous.
Bitcoin still anonymous for me,Bitcoin wallet didnt require id for verification its account not like Paypal. Paypal need verification to able to use its other feature.
I don't have time nor desire to constantly run my coins through a mixing service so as to cover my tracks. For Bitcoin to be completely anonymous people have to only use websites that don't ask for personal information and don't use any exchanges or Bitcoin debit cards to withdraw funds and only seek private sellers. However I would like to say that for my needs Bitcoin is anonymous enough as I don't partake in shady deals nor do I purchase any illegal goods online so I actually don't care much about who has been stalking me.
I dont need to hide my transactions, it's good enough for me.
It would be hypocritical to pay with debit cards/credit cards (which are even less anonymous, and then complain about bitcoin privacy.
For me its anonymous enough because I do not do stupid things with it to be honest and you can still mix it right so its no problem..
All of the above comments are very naive and incorrect. Using multiple addresses and mixing servers doesn't necessarily make your identity unlinkable, as explained in the following quote.
And you say you don't need privacy, but when anyone can see what and when you've been buying things and publish that information loud and clear to everyone on the Internet, do you really want your grandmother to know you've been buying subscription to Playboy?
Do you want all of your finances to be public knowledge?
Credit cards and websites knowing your identity doesn't reveal your financial data in public. But BitCON does!
And it gets even worse if you are talking about obscuring your financial data from national security agencies, which also might have corrupt employees who use your information in illegal ways. Don't forget how the TSA employees were caught masturbating to the nude xray scans at the airports. Extortion is a possibility, tipping off criminal gangs as to your whereabouts and financial standing, etc...
People using Bitcoin to move funds around thinking that if they've used a mixer then they are anonymous. They will be sad to later find out that all those mixers were compromised by meta data and/or infiltration. Bitcoin is a trap laid to entrap those who are easily duped on the technological capabilities. The only known technology that might be anonymous is Monero, but there are several problems to avoid: a) Monero allows overlapping rings, so via combinatorial analysis, your anonymity might be unmasked, especially if the rings were Sybil attacked, and b) your IP address was traceable across mixes. The mitigating actions are to mix Monero numerous times (other mixers can be infiltrated so don't use them!), and to not rely on I2P nor Tor, instead use an entirely virgin device that you never use for non-anonymous Internet activity and connect over an unregistered WiFi connection and far from your normal place of residence or work. And don't bring your smart phone nor GPS tracked vehicle with you while accessing the remote unregistered WiFi hotspot.https://www.armstrongeconomics.com/world-news/g20-blames-your-psychological-problems-for-their-failure/ “The G20 reiterates the high priority it attaches to financial transparency and effective implementation of the standards on transparency by all, in particular with regard to the beneficial ownership of legal persons and legal arrangements. Improving the transparency of the beneficial ownership of legal persons and legal arrangements is vital to protect the integrity of the international financial system, and to prevent misuse of these entities and arrangements for corruption, tax evasion, terrorist financing and money laundering.
The G20 reiterates that it is essential that all countries and jurisdictions fully implement the FATF standards on transparency and beneficial ownership of legal persons and legal arrangements and we express our determination to lead by example in this regard. We particularly stress the importance of countries and jurisdictions improving the availability of beneficial ownership information to, and its international exchange between, competent authorities for the purposes of tackling tax evasion, terrorist financing and money laundering. We ask the FATF and the Global Forum on Transparency and Exchange of Information for Tax Purposes to make initial proposals by our October meeting on ways to improve the implementation of the international standards on transparency, including on the availability of beneficial ownership information, and its international exchange.”
kiklo,
Although I plan on adding a form of anonymity (a new design I discovered a few weeks ago) which I think is more realistic (scalable and doesn't need Tor/I2P) than Zcash, Monero, and Dash, I don't view that as the main feature necessary to overcome the 666 problem in front of us. Nor is anonymity for the mass adoption. Anonymity is going to be there for when you need privacy. If the NSA wants to track what you are doing, it will be almost impossible for you to obscure all the metadata with any anonymity design. The most determined can probably be anonymous to the NSA, but not the masses. For the masses, they just need privacy from hackers.
Per the 2014 quote of AnonyMint in my prior post, I believe the way to overcome is to enable zillions of instant microtransactions and to make the block chain not trend towards centralization (all the block chain designs so far do trend to centralization). In this way, the people will do so many minute transactions and it will be done in a decentralized context, so there is no way to really control it.
The scaling required can't be done with any design that has been promulgated so far that I have seen.
Make it uber popular, decentralized, and make the transaction size so small that it would cost the government orders-of-magnitude more to document every transaction than they could steal with taxes. Given decentralized nodes for consensus, the government can't really regulate the nodes, they must regulate the users.
Take away the honeypot of profit, then the crocodiles go some where else. Let them have their expropriation with Bitcoin and fiat. We go bifurcate the economy.
This has been AnonyMint's plan since 2014 when he first discussed with CoinCube bifurcation of the economy as the debt laden old world Industrial Age collapses, and we usher in a new Knowledge Age.
Finally now all the technology necessary has come into clear view. And AnonyMint is healthy enough to code.
Yeah Litecoin+Coinbase may have a role to play in that old world fiat collapse clusterfuck.
P.S. For those who believe in the Biblical, I think it says the 666 is a mark and implant into our bodies. I believe this may support the notion that the overlords won't succeed by regulating only the nodes, and they will have to regulate each and every human. So maybe it is not yet time for the overlords to win. Maybe we the people do win this time.
