Re:Bitcoin is a disaster
by brianobush on Thursday December 31, 2020 @06:49PM
(#25598719)
Most BTC holders are on exchanges that all have KYC rules in place, so there is no anonymity or privacy assumed. It is just like buying KO shares on Etrade.
It makes me wonder how many people have gotten busted for either buying or selling drugs with cryptocurrencies, thinking it was automatically safe and private.
Re:Bitcoin is a disaster
by ineedasername on Thursday December 31, 2020 @07:52PM
(#25599348)
It's simply an extra layer & bit of effort law enforcement has to jump through, and as understanding of crypto permeates society & law enforcement, even those barriers will be removed.
Re:Bitcoin is a disaster
by XargonEnder on Thursday December 31, 2020 @06:33PM
(#25598527)
Wow that's a ludacris list of pitfalls. I've overwhelmed just looking at the list of sections in that document.
Re:Bitcoin is a disaster
by ineedasername on Thursday December 31, 2020 @07:53PM
(#25599359)
Well, I think it's important to keep in mind that the criticisms seem specific to bitcoin, not crypto in general, and some of them are perfectly valid observations (even if you don't consider them "bugs")
https://en.bitcoin.it/wiki/Privacy
Are you careful to avoid these numerous privacy pitfalls? If not, you're leaking information about yourself, into the public ledger (blockchain)