jim_kreggis

Same old pro-mass surveillance arguments, we need it because there are terrorists and pedos

Your employer has your salary on record, so having financial privacy in no way prevents taxes being collected. Likewise you trade stocks through a broker, who knows how much you have in your brokerage account.

Yeah, there's no way this would lead to minimal government, the exact opposite would happen.

China would just step in

"people are happy to give up their rights because the people they dont like will be less profitable"

This is the real reason people get so irrationally mad about crypto. There's no difference between the importance of encrypted communication and encrypted transactions, except that there's money involved. There's many people using web3 hype and bullshit as a grift, and many (most) people who see crypto as a speculative bubble they can get in on but neither of these things change the fact that it's the only trustless form of digitial payment we have. Terrorists can kill thousands of people, governments can kill millions, so I'm much more worried about one than the other.

I agree, the Tornado cash situation just shows the importance of making privacy a primary consideration in the currency itself

Do you want to actually reply or just be snarky?

The point is crypto has potential to be used whether regulators like it or not. Regulators will do everything they can to prevent this of course, but it at least means we have the potential to transact privately vs. not having any chance at all.

The only way for crypto to win is to implement privacy and anonymity in a way regulators cannot prevent, such as privacy coins. Btc and Eth relying on mixers is a flaw which regulators will exploit to their advantage.

My point is that it's pointless to be idealistic about how things should be, what matter is how they are. Why would a government which seeks to track its citizens every move keep cash around, when digital money suits their purposes better, and the vast majority of people pay using their phone or card anyway? When that happens, you have 0 way of transacting with anyone without the government watching over your shoulder.

And what are you going to do if governments get rid of it? You have no recourse, only privacy coins like monero offer some.

Having to use digital currency for everything with no privacy and complete government control is going to be amazing, you're right!

One described themselves as "Grubhub but for gay sex"? Just bizarre...