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April 26, 2014, 10:30:33 AM |
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An even bigger thing one would hate about Western Union is that they often require ID when transferring money to someone.
What would they use this ID for? To find out who is sending money to whom. That's what. Is that private? Not in my view, it isn't.
With Bitcoin you don't require an ID. You just create a wallet, and either mine or purchase bitcoins, and send 'em on their merry way. That's about as private as it gets. Sure, the transaction is stored forever in the blockchain, but remember that the authorities see nothing more than a bunch of cryptographic hashes so the authorities would have a bitcoin...*cough cough* um, I mean bit of a hard time finding out who is sending what to whom for what.
Eg. person 1aAbBcCdDeEfFgGhH sending X.XXXXXXXX bitcoin to person 1jJkKmMnNpPqQrRsStTuUvV for some thing-a-ma-[insert hysterical laughter here]-jig...
So this is great if you're trying to buy something not quite legal. With Western Union, if some nosy geek sees that you've sent XXX amount of dollars to someone who has been found to have been selling no-so-legal articles...guess what happens? Trust me there are plenty of them, yes, in Western Union in fact that system is AUTOMATED so you don't even need to be a damn geek.
That information gets duly passed on to the appropriate authorities, whether that be within minutes, hours or perhaps days of your transaction. Either way it probably doesn't matter much since by the time you would receive your parcel, your ID information gets recorded, your postal address is likely within that information and will be watched, your parcel is picked up and seized and the FBI kicks your doors down and busts your silly ass.
Bitcoin...who would'da thunk!
And touch of PGP with your emails to that special someone, just in case someone else other than the intended recipient might be reading those messages.
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