Correct me if I'm wrong here. Doesn't the recent compliance integration disqualify Dash as an anonymous crypto?
https://bitcoinmagazine.com/articles/interview-dash-and-coinfirm-on-digital-currency-compliance-partnership-1475867943There's no value in making crypto complaint when the principal design is peer-to-peer.
This goes against the core fundamentals on which bitcoin was founded. Why would someone want to use crypto that is compliant when they can use fiat currency that is far more stable as a measure of value and accepted in more places.. Bitcoin adoption and cryptocurrency in general is a movement to replace the existing system with a crypto economy
not comply with regulations made for financial institutions. The goal is to get merchants and customers using crypto not some regulated fiat replacement or card that interfaces with existing clearing house infrastructure.
Apparently the people working on this coin didn't read the first sentence of Satoshi's white paper.."A
purely peer-to-peer version of
electronic cash would allow
online payments to be sent directly from one party to another
without going through a
financial institution."
- Satoshi Nakamoto,
https://bitcoin.org/bitcoin.pdfyou are wrong, nothing changes and dash's anon is still untraceable.
If KYC is in effect then Alice and Bobs addresses are known to regulators. Even if the transaction is "untraceable" we can know that Alice's wallet now has less coin and Bob's has increased coin of the same value, effectively nullifying the untraceable attribute from the transaction.
who REQUIRE compliance to implement a new cryptocurrency (like DASH) from having to do it themselves.
Name one major vendor that requires compliance by a government to integrate a cryptocurrency.
Every banking institution in the US?
Again, I will direct you to Satoshi's Bitcoin Whitepaper. The idea for cryptocurrency is Peer-to-Peer. Nowhere in the whitepaper does it reference a need to integrate into a financial institution. The entire idea behind Bitcoin was to eliminate the need for financial institutions.
"A
purely peer-to-peer version of
electronic cash would allow
online payments to be sent directly from one party to another
without going through a
financial institution."
- Satoshi Nakamoto,
https://bitcoin.org/bitcoin.pdf