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Vinay Gupta, one of the main figures behind Ethereum, is having a meltdown. Someone he doesn't like (Gab.ai) was apparently considering using Ethereum for something. Gupta has posted some...interesting tweets. Key quotes:
"[Don't use] Ethereum. We are all communists"
"We will collude against you"
"We do infrastruture. You depend on us. We will find ways. Count on it".
Are these the kinds of things one wants to hear from the people behind a digital currency (and platform) that one is supposed to trust? They will "find ways" to "collude" against anyone they dislike?
Seriously, the more I learn about Ethereum, the less I like it. Full disclosure: I sold what few ETH I owned several months ago, for reasons related to "The DAO" mess.
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(Score: 0) by Anonymous Coward on Thursday November 16 2017, @02:27PM (5 children)
I imagine the fact that the blockchain is not anonymous and records all transactions for all to see may introduce some complications.
I only have a few thousand Doge, though, so I've no practical experience.
(Score: 1) by khallow on Thursday November 16 2017, @03:19PM
What is being recorded here? It's not the weak link in this chain. If law enforcement or the tax collectors can't show that I had the money in the first place or the off-shore investment afterward, then it would be very hard to link to the bitcoin unless they were able to link the bitcoin transaction itself to me (and that will be pretty weak a claim). There are ways to conceal that further as well, such as by not using my own property for the transaction sequence.
(Score: 2) by tibman on Thursday November 16 2017, @03:57PM (3 children)
That matters when you use the same wallet (like a normal person). They can link all the transactions up and follow the money. But there is nothing stopping you from using one-time accounts. Other than laziness, hah : P
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(Score: 3, Informative) by jmorris on Thursday November 16 2017, @04:08PM (2 children)
And how does money get from your open accounts in trad banking into that one time wallet? Through a traceable transaction. If somebody expends some effort (say the government with its vast compute farms) they can follow every BC transaction from conversion from USD to illegal product bought at one of their TOR honeypots.
(Score: 1) by khallow on Thursday November 16 2017, @04:36PM (1 child)
That's not particular to bitcoin. As I said, bitcoin isn't the weakest link. Let us also keep in mind that one can buy bitcoins with cash which breaks the tracking, particularly if the cash weren't known to the government in the first place.
(Score: 0) by Anonymous Coward on Thursday November 16 2017, @08:54PM
Any examples of places I could buy/sell bitcoins for cash without showing ID? And, preferably, without running the risk of being robbed at gunpoint immediately (and completely coincidentally, heh) after I walk out of the location the transaction took place? Thanks!