Bitcoin Forum
December 04, 2016, 08:33:16 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: The economics of fully transparent money  (Read 854 times)
Sjalq
Sr. Member
****
Offline Offline

Activity: 280


View Profile WWW
June 10, 2011, 02:36:51 PM
 #1

I was thinking about setting up an escrow service for my local jurisdiction's person-to-person trade of bitcoin when something interesting occurred to me. All I would really need to show that the service was trustworthy was a basic transaction log and the block explorer.

What do you guys think a world would look like where everyone can see what everyone else spent their money on. They could see you paid for a nose job, you could see they are tiling the kitchen, you could both see the CIA trying to pay to overthrow some poor country. Taxes would be inescapable but successfully hiding the mismanagement of government funds would be impossible.


Cheesy mine mine mine mine mine mine mine Cheesy
*Image Removed*
18WMxaHsxx6FuvbQbeA33UZud1bnmD7xY3
1480883596
Hero Member
*
Offline Offline

Posts: 1480883596

View Profile Personal Message (Offline)

Ignore
1480883596
Reply with quote  #2

1480883596
Report to moderator
1480883596
Hero Member
*
Offline Offline

Posts: 1480883596

View Profile Personal Message (Offline)

Ignore
1480883596
Reply with quote  #2

1480883596
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480883596
Hero Member
*
Offline Offline

Posts: 1480883596

View Profile Personal Message (Offline)

Ignore
1480883596
Reply with quote  #2

1480883596
Report to moderator
1480883596
Hero Member
*
Offline Offline

Posts: 1480883596

View Profile Personal Message (Offline)

Ignore
1480883596
Reply with quote  #2

1480883596
Report to moderator
JellyfishRancher
Newbie
*
Offline Offline

Activity: 28



View Profile
June 10, 2011, 02:51:34 PM
 #2

Your first paragraph is correct in that to establish trust all you need to do is show a transaction log. That doesn't imply that everyone would know what everyone else spent their money on, because wallets are anonymous and you can just mix bitcoins to unlink them from your personal wallet.

TradeHill Referral Code: TH-R1435
Register with my code and receive 10% of trading fees!
See this thread (http://forum.bitcoin.org/index.php?topic=13650.0) for more info.
Sjalq
Sr. Member
****
Offline Offline

Activity: 280


View Profile WWW
June 10, 2011, 02:59:20 PM
 #3

true, but eventually such link will be clearly visible if the current method of "post your bitcoin address" is followed. a google miner might even be able to deduce the information with a great amount of accuracy.

Cheesy mine mine mine mine mine mine mine Cheesy
*Image Removed*
18WMxaHsxx6FuvbQbeA33UZud1bnmD7xY3
Stephen Gornick
Legendary
*
Offline Offline

Activity: 1988



View Profile
June 10, 2011, 05:59:26 PM
 #4

What do you guys think a world would look like where everyone can see what everyone else spent their money on. They could see you paid for a nose job, you could see they are tiling the kitchen,

Sounds like WingCash

 - http://forum.bitcoin.org/?topic=4232.0
 If I remember correctly, there weren't too many bitcoiners who were fond of the idea.  Feel free to use it and report back though.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!