With Binance delisting of XMR, there seems to be a growing trend that coins with privacy protocols are increasingly becoming a target of governments.
Is there any evidence that Satoshi Nakamoto deliberately avoided adding privacy-related protocols and functionality into Bitcoin in order to avoid the ban-hammer?
If so, how did he justify this decision when the very concept of sound money cannot be implemented in an environment where there is no guarantee of absolute transaction privacy?
Satoshi wanted to implement XMR features on BTC, long before XMR was born:Is there any evidence that Satoshi Nakamoto deliberately avoided adding privacy-related protocols and functionality into Bitcoin in order to avoid the ban-hammer?
If so, how did he justify this decision when the very concept of sound money cannot be implemented in an environment where there is no guarantee of absolute transaction privacy?
https://bitcointalk.org/index.php?topic=770.msg9074#msg9074
Maybe he didn't have enough time, maybe not enough programming expertise, who knows... it's endless speculation at this point.
Also, few people seem to realize that banknotes actually have limited tracing via serial numbers.
Have you tried to deposit stolen banknotes (from a robbery/abduction) in a bank?
I wouldn't recommend it...
It's like depositing tainted BTC in a CEX with KYC/AML. They will be confiscated immediately.
But sure, nobody cares about serial numbers in hand-to-hand transactions. It's the same with BTC and p2p transactions.
I hope that clears up some misconceptions.
Last but not least, bankers still have some ace up their sleeves:
https://www.fleur-de-coin.com/eurocoins/banknote-rfid
https://www.eetimes.com/euro-bank-notes-to-embed-rfid-chips-by-2005/
I bet most people thought this wasn't possible, right?
They can invalidate old euro banknotes let's say by the end of this year and after that only RFID banknotes will be considered legal tender.
Considering the fact that banknotes ALWAYS originate from the banking system, this would make tracing far more ubiquitous than it is today with serial numbers.
There is no absolute transaction privacy with any transactions, even with monero.
Really?Prove it: https://www.interactivecrypto.com/irs-625-000-bounty-for-breaking-monero-and-lightning
I am sure that for Bitcoin we are going to use some interesting second layer solution that will help as achieve much higher level of privacy.
Lightning already exists and according to IRS, it's a PITA.