The world is rapidly drifting into a global electronic police state, where anything and everything we do is recorded, analyzed, scrutinized, etc. We used to be able to use normal cash to buy things. Now, cash transactions are prohibited for most things in america. Soon all cash will become illegal. This is normal cash. Without a crypto replacement for cash, the world will be controlled by people who know what everybody else is doing with their money.
- very well said, James!
And I can see that and agree with jl777's thought, it is well said... but would a government agent who supported the NSA agree with that? Just seems to me like I could see them being unhappy about it and arguing that people who use them have criminal intent or something along those lines. Can you name some legitimate reasons you'd want some transactions to remain anonymous though?
I don't know.. I guess I'm just not in such a hurry to implement it until we've been around for a while. Basically until we're big enough to be able to lobby that mixing stay legal. Though even if it isn't built in, they'll probably always be mixers around for the bigger cryptos as long as they are around for those who do want to use them.
One more thing to throw in is I'm currently in the process of getting a mortgage and one question they asked was for me to trace where my Bitcoins came from and how they flowed around my accounts since they were worried about money laundering.
Using this logic, we should just outlaw the use of cash immediately.
Everyone must use a credit card that can be tracked. What if you purchase a prescription for some illness and your insurance company sees this and cancels your insurance policy, or your company finds out and terminates you because they don't want to be liable for your health costs. Privacy? It is important.
The presumption of guilty until proven innocent seems to be a bit backwards from what it used to be.
Do you want your neighbors to know how much you spend on everything? Do you want the local thief ring to know you have valuables in your home, because they figured out your spending pattern?
I could go on and on. Cash is something people have had for thousands of years and it is disappearing. Possibly permanently.
The war on bitcoin and all crypto is in full swing in america. It costs millions of dollars to comply with all the regulations. Only big VC companies like coinbase can possibly afford full compliance.
The feds view is that anybody that has bitcoin is a criminal. It won't matter if we have mixing or NXTcash, so there is no difference on that score if we do get NXTcash implemented. On the gain side, as soon as we get NXTcash, it will have restored to people across the world, cash, like it used to be!
James