Post
Topic
Board Altcoin Discussion
Re: r0ach's Cryptomarkets Watch & Scamcoin Observer
by
r0ach
on 09/07/2016, 08:29:21 UTC
When China's mining oligarchy can implement MIT's ChainAnchor which turns off your ability to spend unless you comply with your local government's taxation and capital controls, then where Bitcoin is accepted is less relevant than whether it is no longer a permissionless system.

This is not a valid criticism that is Bitcoin specific due to what I said a few pages back.  It's a problem inherent to ANY cryptocurrency you can possibly create, whether it's Bitcoin, Monero, Zcash, or Anonymintcoin:

It's inevitable that an alias system would be developed for any successful cryptocurrency.  The alias system would de-anonymize transactions of even the most perfect system because...that's what it's designed to do by voluntary compliance.  But, governments would then mandate all transactions be routed through the alias system or you're considered to be a criminal launderer.  So it seems no matter what type of cryptocurrency you develop, you will be forced to use the government scaffolding alias system regardless, which transforms the cryptocurrency into an entirely different thing than what it's designed as.

Governments just say, hey, fuck you, you gotta route all your transactions through our 2nd tier system, nullifying whatever it is your 1st tier system does.  This brings you back to re-examine the point emphasized by Ted Kaczynski about technology, where he states it's a net negative game for humans.  It's always possible he's right and nothing you can create in the digital space can be a net positive for freedom.  This is stuff that I already know well, but I still dabble in Bitcoin because it's not a debt based, usury based, or fractional reserve currency.  No matter what they do to it, I don't think they can make it worse than the fiat system that already exists.  

Yes, yes, I'm aware, you say they are going to use it to track people and tax 90% of all wealth.  That's a problem that already exists before Bitcoin, and Bitcoin honestly doesn't improve their ability to do so much, if at all.  Most transactions can't be done on-chain and will be done either off-chain or 2nd tier systems that have the exact same traceability as systems that already exist.