If/when Bitcoin gets real privacy, I expect that it will also embrace “selective disclosure”. That would preserve irrevocable, undeniable, irrefutable blockchain information for legitimate use cases—while locking out the prying eyes of hackers, cyberstalkers,
armed robbers, kidnappers seeking ransom, and commercial espionage that seeks to infer competitive business plans from financial transaction data.
Isn't the blockchain information irrevocable, undeniable and irrefutable because, from the way I know it, these attributes and the confirmation that follows broadcasted transactions are the ways in which the chains are ensured of security.
Speaking of selective disclosure, is that really going to be a plus to the blockchain technology?
You know, the only way for transactions not getting counterfeiters is the verifiable nature of the blocks. I'm not very deep into this stuff so, if am getting it wrong at some point, am happy to be corrected.
With these kidnappers, rubbers and others not knowing who is behind an address what matters to a selective disclosure?
We don't want or need undetectable btc in this world.
We need btc that can be hidden until you need to cash it.
Without agreeing or disagreeing, what is the difference between these two apparantly contradictory statements...aka "hidden" and "undetectable".
To me, "hidden" is being temporarily undetectable. Isn't it?
no it is fully detectable ie here is an address
https://www.blockchain.com/btc/address/1BmZSqwX7GivA88FdqupyVRedzRRPE3chrit moved coins and very likely the gov knows the actual owner.
and here is another address.
3MR9bkqFVX1f1QxutMu55J3VcvAESEw1Yd
no coin in it and the owner of it is hidden
but its existence is not undetectable.
hiding a virgin address is no big deal.
hiding an address owner and mining on an anyonomus pool will create a detectable amount of coin.
but no issue until you cash it out. if we make cash out impossible to detect the world governments will go after btc like mad.
the idea I can mine 100 usd worth of btc to an address no one knows the owner is fine the governments clock these addresses and can go after you when you cash it.
but if I mine 100 a day on nicehash to a safe address and move out of my country .
(USA) it is likely I will beat the Gov.the money.
In my case my pension and my wife pension is all fed usa paid. so If I run from USA with "hidden BTC" then show it in a tax free country the USA will assess me a tax and confiscate our fed pensions.
I would need 200-300 btc to consider burning my USA citizenship. They don't worry about escape accounts for most of their citizens . As the escape account needs to be huge to be worth it.
Not many people have 200-300 btc in ownership hidden wallets.