Post
Topic
Board Service Discussion
Merits 2 from 1 user
Re: [Blacklist] of unreliable, 'taint proclaiming' Bitcoin services / exchanges
by
o_e_l_e_o
on 26/07/2022, 14:27:35 UTC
⭐ Merited by n0nce (2)
having a central register with all business addresses is a nightmare and can also easily be dodged when businesses just create new addresses that arent registered somewhere.
Which would be a massive attack on bitcoin. A single centralized register controlled by whom? And if that single entity decides an address is blacklisted, then that address can't transact with any registered business in the country/world? Completely centralized nonsense. Thankfully it is unlikely to come to this since blockchain analysis companies have little incentive to work together to create such a database while they can continue to convince governments and exchanges they provide useful information rather than just pure guesswork, and that they should be paid for this guesswork.

Maybe theres some room here to push back against these regulations by pointing out that theyre generally unenforceable and harm their customers and business models in the process.
Pointing it out to these services achieves nothing. Even when individual users try to explain to them the basic concept of how bitcoin works (i.e. coins which 10 transactions ago came from a casino are not still "tainted"), they don't care. Easier for them to just steal the user's coins and close their account. The only thing which will work is mass action. If everyone stopped using Coinbase today because of their support of taint, you can guarantee they would abandon it by tomorrow and be lobbying the government to change the rules.