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1. shadow+(OP)[view] [source] 2023-09-21 15:47:45
In a way, this wouldn't be terribly surprising. The whole thing is sold as a way to anonymously execute transactions outside of government-controlled currency structures, but its core is a massive, fully-auditable record of all transactions. Especially if the 'anonymity' turns out to be mere pseudonymity, the whole thing becomes one massive honeypot for getting criminals to record their illegal activity in public (not to mention an auditable record of legal activity, which would be useful for trend analysis and observation of new patterns in resource allocation that could be predictive of future concerns... "Hm, we haven't been putting much thought into the sociopolitics of Tanzania, but someone sure is sending a lot of BTC to several accounts we know are owned by people who reside there... We should probably tip off the CIA that they need to be ready to do a brief on that").

"An incredibly popular, globally-accepted financial system that surveils itself" is like an NSA fever-dream.

replies(1): >>oakwhi+L4
2. oakwhi+L4[view] [source] 2023-09-21 16:06:47
>>shadow+(OP)
There's no question that Bitcoin, and systems that copy its design more or less exactly, operate in more of a pseudonymous manner than anonymous. Projects like Monero and Zcash are actually attempting to be anonymous, but they don't seem to be as popular or prone to the kind of high market valuation that Bitcoin has.
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