35 crypto companies made a Change Dot Org petition called "Bitcoin Deserves an Emoji"
F that
Sign this one instead: "Bitcoin is Stupid and Does Not Deserve an Emoji": https://www.change.org/bitcoin-is-stupid
this post was submitted on 31 Jul 2024
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The problem isn’t just the nature of blockchains, the problem is the uses to which such systems will be put. The explosion in ransomware fuelled by bitcoin et al isn’t something that can be replicated with physical cash at the same scale, for example (consider why you want electronic cash in the first place). Similarly, the need to “be your own bank” will always expose you to a greater risk of fraud and theft and loss, because being a bank is harder than people seem to think.
The technology involved is (almost) irrelevant.
I wanted this "electronic cash" to make it easier to carry cash without ending with lots of coins in my wallet. The point of being your own bank seems dangerous and too convoluted to make it more convenient.
I guess I will keep trying to use cash whenever I can and call it a day.
So I realise that this is very euro-centric and the majority of people on earth don’t get this sort of convenience, but… fast and easy interbank transfers and contactless debit and credit card payments just do all the stuff that most people want out of electronic cash, and transaction logs are a small price to pay for a substantial reduction in risk.
I use those services currently but I would prefer not to have logs of what I do with my money in someone's computer
You realise that all electronic currencies will necessarily involve transaction logs stored in someone else’s computer? Even Zcash and monero, which have clever anonymous transactions, allow selective disclosure of the details of those transactions if you ever find yourself at the wrong end of a criminal investigation or tax audit. Moreover, their anonymity guarantees are not perfect (the IRS has certainly paid big bucks to chainalysis for de-anonymisation, for what that’s worth).
Unless someone magically invents a software artefact that can’t be duplicated (don’t hold your breath, I’m serious about the magic) there’s no escape from this fundamental requirement.
Using that logic, the US government has enough computing power to decrypt your internet traffic even if you use a VPN. I only want more protection, not complete anonymity.
And for what it's worth, I think that the protection an internet service can provide is only "trust that we are doing it right", every data leak that is happening is proof of this.
No. Not even slightly.
I see you are completely unfamiliar with any of the issues here. I appreciate they are complex, but I don’t have the time or patience to educate you right now, even assuming you’re willing to learn.
Can you leave me with some reading material regarding the problems of trying to get privacy in electronic currency?
Something like the de-anonymisation of monero, I think it's interesting and will try to read more about it.
are you dim? you literally replied "hey can you spend some time to give me things for free" to someone who literally explicitly made it clear that they don't have the time
it sounds like you already have some idea of what you want to know about, maybe you should act on that curiousity! by, idunno, going to find the information? it's not like this stuff hasn't been well-covered spanning the space of a decade, or as though there aren't literally companies that do this as their whole thing. nah, gonna have to be greenfields research, hard shit.
Sorry if the message came out entitled to the research. As rook sent some news sites about crypto, I thought some research papers about the deanonymizing monero would be readily available.