Post
Topic
Board Bitcoin Discussion
Re: Privacy vs. anonymity
by
o_e_l_e_o
on 28/10/2021, 07:55:04 UTC
But, according to what we've said, privacy ≠ global adoption. So, for the sake of our wealth, should we make privacy techniques mandatory or is it too daring?
Global adoption and wealth are not necessarily the same thing. However, I'm also going to choose privacy, and I've said as much before:

The day I can't spend my bitcoin without completing KYC is the day I trade all my bitcoin to monero, I'm afraid.
There is no requirement to sacrifice your privacy to use bitcoin, and the day I have to complete KYC simply to use my own wallet is the day I sell all my bitcoin.

So I'm happy to continue using bitcoin while I can be private and not trust third parties doing so. I don't think that is going change and I think there will always be a way to use bitcoin privately, but if it does become impossible to use bitcoin without third parties sticking their noses in and telling me what I can and cannot spend my own money on, then for me bitcoin will have failed in what it set out to do. I would like to see some more privacy built in to protocol - taproot gives a little more once people start using it en masse, Lightning will also help - but going for complete privacy like Monero has will simply result in governments everywhere banning bitcoin or making it illegal to use outside an approved custodial third party or similar.