Quote from: toknormal on July 08, 2014, 10:03:36 PM

Quote from: shojayxt on July 08, 2014, 09:22:12 PM

There is an argument that businesses will use anonymous cryptocurrencies as a way to prevent competitors from knowing what they are doing. That argument is completely wrong because businesses need records of their financial transactions and publicly traded companies have to open their books for audits. The only people that will be using anonymous cryptocurrencies will be criminals, drug dealers/buyers, money launderers, and paranoid anarchist types.

I'm basically of the same opinion regarding Bitcoin remaining as the "reserve currency" of cryptos, but I think you've missed the great big elephant in the room here. First of all, lets get rid of the "criminals & drug dealers" nonsense. I doubt there are many people invested in "anons" because they think that illegal use is the market.

The big opportunity for "anons" arises out of the fact that this is the one area where crypto DOESN'T match up to fiat. Not only that, one of the most basic, taken for granted, fundamentally-critical-to-everybody, no-one even questions it attributes of the fiat banking system is to keep people's banking records *out of the public domain*.

Note - they're not anonymous, they're just out of the public domain. There's a very big difference. Now lets say your bank told you they were going to "anonymise" your banking records (by scrambling your name) but make them publicly available on the internet. How many people would be happy about that ? Not many because years of trading patterns are potentially as much of an identifier as just sticking a great big name and address label on the account. It just takes a few known reference addresses in your transaction record to triangulate your identify.

The thing is, that's the sell that Bitcoin has with the general public. Not an easy sell I'd say. ok, it will probably remain the "reserve" and grow in value due ot the reasons cited, but that doesn't mean an alt can surpass it in coin value simply due to sector demand.

So there sure is one hell of a glaring market there - ever if you don't regard it as a functional deficiency in Bitcoin. Nothing to do with drug dealers and criminals, just plain old commercial competitivity issues between the fiat banking system, transparent blockchains and opaque blockchains.

You missed the point, easily seen from within your own argument.

Publicly traded companies do what is required to reduce costs and increase profits. Use Darkcoin, remove FX and banking charges. Profits up. Check.
Publicly traded companies are audited. They need to provide details of all transactions. Use Darkcoin. Compliance and governance complied with. Check.
Publicly traded companies need to keep records of their business dealings. Store records or payers and payees using invoices. Check.

You see. plenty of paperwork. The method of payment is an irrelevance.