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Author Topic: Cash exchange networks  (Read 2556 times)
Giulio Prisco
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July 14, 2010, 04:23:39 PM
 #1

The unique features that makes bitcoin appealing are anonymity and untraceability, so exchanging bitcoins with traceable and non anonymous currencies (Paypal etc.) does not seem to make too much sense.

Now, suppose there is a wordwide network of cashiers willing to exchange cash for bitcoins. Dis anyone think of how to implement these cash exchange networks?

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Insti
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July 14, 2010, 06:54:17 PM
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I think you're overestimating the anonymity and untraceability of the network.
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July 15, 2010, 09:32:18 AM
 #3

Can you elaborate Insti?

giulio, if you send me PayPal and I send you BitCoin nobody but me knows that you have BitCoin.

Then when you buy you don't necessarily even have to tell your merchant who you are. On top of that the merchant can't prove to anyone else that you paid for X item. You have deniability when it shows up at your door since you didn't have to prove to him who you were.

It isn't a magic cloak, but used correctly it's a lot better than most payment systems. And you don't have to buy them with PayPal, you can mow your neighbors lawn, etc.

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July 15, 2010, 10:10:38 AM
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This thread has some more information: http://bitcointalk.org/index.php?topic=241.0
ichi
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July 15, 2010, 03:36:00 PM
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Given the attention that Bitcoin may eventually attract from TPTB, I'm amazed how many participants freely disclose their true identities.  In particular, the "Post your static IP" thread strikes me as totally irresponsible.

Although it's certainly possible to anonymously rent machines with fixed IP addresses, I doubt that most IP volunteers have done that.  IMHO, the developers ought to further emphasize the importance of using Tor, or anonymous and secure VPN services.
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July 15, 2010, 03:57:38 PM
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Given the attention that Bitcoin may eventually attract from TPTB, I'm amazed how many participants freely disclose their true identities.  In particular, the "Post your static IP" thread strikes me as totally irresponsible.

Although it's certainly possible to anonymously rent machines with fixed IP addresses, I doubt that most IP volunteers have done that.  IMHO, the developers ought to further emphasize the importance of using Tor, or anonymous and secure VPN services.

Why? I don't believe I'm doing anything illegal where I live.
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July 15, 2010, 05:16:47 PM
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Given the attention that Bitcoin may eventually attract from TPTB, I'm amazed how many participants freely disclose their true identities.  In particular, the "Post your static IP" thread strikes me as totally irresponsible.

Although it's certainly possible to anonymously rent machines with fixed IP addresses, I doubt that most IP volunteers have done that.  IMHO, the developers ought to further emphasize the importance of using Tor, or anonymous and secure VPN services.

Why? I don't believe I'm doing anything illegal where I live.

I think what he's getting at is a quote from Sen. Palpatine "I WILL MAKE IT LEGAL."  IE. They don't need a reason and you don't necessarily need to have broken any laws to bring them down on you.  They will pass whatever laws they need to achieve their ends.

Ergo, protect yourself accordingly.
The Madhatter
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July 15, 2010, 05:27:06 PM
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The masses of asses are best controlled by fear. I say if it isn't illegal; do it.
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July 15, 2010, 05:39:36 PM
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The masses of asses are best controlled by fear. I say if it isn't illegal; do it.

Fear of 'them' will never allow you to achieve what you want to, but knowledge of what can happen and simple prudence to cover yourself is never a bad idea.
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July 16, 2010, 12:27:54 AM
 #10

If you insist on only doing legal things you can't do much.

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July 16, 2010, 08:35:05 AM
 #11

The paranoia that I see on these boards kind of surprises me.  If we were to think of this as a cheaper, more secure version of paypal, rather than a replacement for the US dollar I think we'd all sleep easier at night, as well as be less likely to bring the government down on us.

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July 16, 2010, 09:29:10 AM
 #12

Yes, I value Bitcoin as a MUCH more secure (and anonymous) payment system.  IMHO, physical gold, silver and other rare/useful items are the best replacements for fiat currencies.  I've put everything I can in them.
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