I got a crap ton of black bytes, but you have to trade them P2P? So they are basically worthless. Is there any expectation that Black Bytes will be on a real exchange any time soon?
Also, why have two coins--> black bytes and bytes? Nobody would choose to use traceable money over untraceable money, so why not just add that as a feature to Bytes? So confusing to me this coin.
There are reasons to do public transactions anyone can check. Imagine you have a fucking ton of byteballs and some day decide to convert them to FIAT. You better have the full trace of them in case of an audit.
Also, for contracts, etc.... How could someone prove he delivered with an untraceable transaction?
Both have their usages.
Audits up until maybe 20 years ago were almost exclusively done with paper so I think have a distributed digital ledger is only a nice to have. Any paper trail is going to stand up in an audit, especially since your holdings\purchases must eventually move in and out of KYC institutions, even for anonymous currencies.
I don't know about your country, but in Spain if you ever get audited by TAX office for cashing out like 1 mill eur coming from "nowhere" (cryptocurrencies investments) you better have some PROOF of all the transactions ever done from beginning. Using anonymous transactions is cool but it will be better then to keep those "anonymous" coins forever in the dark and never try to cash into banking FIAT or you could even face prison for suspected money laundering. Of course I am only talking about any SUSTANCIAL ammount of money you can't prove how you did earn in the past.
Yeah, it sucks, I hate it.... whatever.... But that's how it is. Again, I don't know about your country and maybe it is different. I am just saying there are reasons, at least for some people, to avoid fully anonymous cryptocurrencies.
P.S.: I do keep old past private keys for wallets/paperwallets/etc I have ever used. It's not that I have a sustantial amount right now... but who knows if it ever will... If it does, I feel more confident if I have the ownership proof from the beginning. Just in case.....