Post
Topic
Board Bitcoin Discussion
Re: Mike Hearn, Foundation's Law & Policy Chair, is pushing blacklists right now
by
solex
on 15/11/2013, 03:39:50 UTC
Stay focused, please.

Discuss how redlisting coins will help fight crime, and especially CyptoLock copycats.


Redlisting does not help fight crime. Criminals already have databases and probably have lists which they are exploiting as we speak. If they have lists we should be discussing how to make their lists less effective by improving the privacy functionality so that they cannot track our money.

We should also be discussing what we can do to protect users from being targeted in general. There are a lot of potential attacks and coin taint lists are just one.

You've either not read or not understood what Mike wrote.

Redlisting does not involve blacklisting or whitelisting coins. Think of it as attaching a breadcrumb trail to coins that someone suspects are illicitly gained. It doesn't stop anyone from accepting them or spending them. It does, however, provide kind of an informational bread crumb trail for law enforcement to later track if it's necessary.

That would be fine if that is where it stopped. But it becomes a slippery slope. The next logical step is enforcement in the protocol that such coins can't be spent. The other problem is that it is an avenue of attack. What is to stop someone getting their enemies coins redlisted?

The BF should not be dreaming up law-enforcement applications. Let LE do that. I don't like hearing that people are being forced to buy btc because of ransomware, but this situation is not unlike the invention of email which resulted in hundreds of people falling for Nigerian scams. It was not the fault of smtp.

The correct course of action would be for the BF to set up a charity. Hardship cases can be given compensation from funds donated for the purpose of helping people harmed during the growth phase of Bitcoin.