Quote from: toknormal on December 11, 2016, 10:35:46 PM

Blockchain transparency isn't just "some random feature".

As I said earlier - it's the entire basis for bitcoin's value.

I disagree. It just happens to be way Bitcoin was designed. The basis for Bitcoin's value is the ability to transfer value without the need for a third party, or the counterparty risk that accompanies a third party. Once again, you're not stating why transparency is important. It's certainly not important for the integrity of the currency supply.

Quote from: toknormal on December 11, 2016, 10:35:46 PM

Imagine a transporter full of brand new cars. Then imagine a ledger which holds ownership records of those cars. The cars are not private - they drive around in full view of everyone. The ledger of ownership records is subject to privacy concerns. The two are decoupled - they are not the same commodity.

It's more like saying that the ledger can't be money if it's not backed by the cars (i.e. the ledger ceases to have value if the cars cease to exist).

Poor analogy. The cars exist in a physical sense, and thus obviously don't have value if they don't physically exist. Blockchain outputs are an imaginary construct. Being able to publicly "see" them moving around is immaterial to their value, which is to facilitate transactions without the need for a third party. I put see in quotes because in both cases you're trusting software. The software interprets the data and then displays it in a way that is easy for humans to understand.

Quote from: toknormal on December 11, 2016, 10:35:46 PM

If you build an electronic asset using the cars as your archetype then possession constitutes ownership, transparency is the priority and anonymity is supported by virtue of the asset being unbacked (i.e. it's not an ownership record referencing some other asset). If, on the other hand you build an electronic asset using the Ownership ledger as your archetype, then privacy IS the priority, transparency can be compromised and anonymity is supported by obscuring the ledger from public view.

You're just seeing blobs of data in either case. That data has no meaning outside of the context of wallet software. It contributes nothing to the integrity of the blockchain to be able to see the coins moving back and forth.