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Author Topic: Let's talk about the dark side  (Read 987 times)
cbeast
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Let's talk governance, lipstick, and pigs.


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October 28, 2011, 08:50:15 AM
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Why do people fear bitcoin? Some say that an anonymous currency increases the chance of crimes compared to fiat money. For instance, if  a kidnapper or other violent criminal asks to be paid in bitcoin, it will be impossible to catch them at the dropoff. This is true. I'll talk more about that in a minute. But think about the crimes that will be decrease because of bitcoin. Identity theft will be nearly impossible without credit cards and bank statements. Mugging for cash will be nearly impossible because bitcoin is secure. Bank robbery will become moot. Counterfeiting will disappear.

We need to get rid of the anonymity factor. I don't want to see a sniper posting a bitcoin address for ransom to prevent a random killing or kidnapping to become profitable and more safe. These are sociological problems that need to be dealt with, but we should not make it easy for criminals. It takes time for payment verifications to secure a transaction. Can we open up the bitcoin network to law enforcement so that such a payment can appear to go through, but then be secretly tagged and traced?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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kokjo
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You are WRONG!


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October 28, 2011, 08:52:20 AM
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but you can still trace them, after they have received the bitcoins. you can't do that with cash.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
cbeast
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October 28, 2011, 08:57:38 AM
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but you can still trace them, after they have received the bitcoins. you can't do that with cash.

If that is true, then bitcoin will make it even easier to electronically monitor organized crime as well.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
kokjo
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October 28, 2011, 09:02:00 AM
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but you can still trace them, after they have received the bitcoins. you can't do that with cash.

If that is true, then bitcoin will make it even easier to electronically monitor organized crime as well.
that is true, as soon as they come in contact with a government controlled merchant, they are traceable.

they have the bitcoins, but they can't spend them.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
EhVedadoOAnonimato
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October 28, 2011, 01:56:46 PM
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We need to get rid of the anonymity factor.

It's ironic to see someone using V's mask as avatar saying such a thing.

We need to improve the anonymity factor. Maybe by making people more aware of how bitcoin works, eventually distributing the software together with anonymous proxies like Tor or I2P and so on.
And this has nothing to do with helping criminals. Criminals will always exist and there are other ways to find them besides following the money. This has everything to do with protecting bitcoin users from criminals, mainly those bandits working in the many IRSes and DEAs worldwide.

I'd argue that in the current state of things, no attempt of creating a sound money will survive for long if it is not anonymous. At least anonymous enough so that governments (the arch-enemy of the character in your avatar) can't easily locate who's using such money.
ovidiusoft
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October 28, 2011, 04:00:03 PM
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Mugging for cash will be nearly impossible because bitcoin is secure. Bank robbery will become moot.

Oh really? "Kindly send all your Bitcoins to this address or I'll beat the shit out of you. Thank you for cooperation." And you will pray to have good Internet connectivity and battery on your smartphone. Oh, and while a regular mugging takes a few seconds, let's see how fun will be if the mugger will wait for 1-2 confirmations... Smiley
cbeast
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October 28, 2011, 04:07:55 PM
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And they'll reduce home invasions where someone with a metal detector can find your overpriced silver and gold for anyone smart enough to convert those to bitcoin.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
EhVedadoOAnonimato
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October 28, 2011, 04:09:27 PM
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Mugging for cash will be nearly impossible because bitcoin is secure. Bank robbery will become moot.

Oh really? "Kindly send all your Bitcoins to this address or I'll beat the shit out of you. Thank you for cooperation."

How will he know how much "all your Bitcoins" is?

(Yet another argument in favor of privacy...)
ovidiusoft
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October 28, 2011, 04:42:43 PM
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How will he know how much "all your Bitcoins" is?
(Yet another argument in favor of privacy...)

Uh, I don't know, I don't usually mug people Smiley. But I suppose a preemptive punch might be convincing enough.
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