Is the society matured enough to handle privacy?

[MinMan]

I get what you're trying to say, there are always people who tend to misuse opportunities like this. But so far the government has been able to capture those who were using cryptocurrency for illicit activities. Just like they busted the dark Web as of recently.

So, cryptocurrency can't really cover up people who are using it for the wrong purpose. in one way or the other the government will always be able to find out who those behind such activities are and capture them. And things might change in the future with the new rules that CEX would be forced to work with, and there wouldn’t be as much privacy.

[milewilda]

I get what you're trying to say, there are always people who tend to misuse opportunities like this. But so far the government has been able to capture those who were using cryptocurrency for illicit activities. Just like they busted the dark Web as of recently.

So, cryptocurrency can't really cover up people who are using it for the wrong purpose. in one way or the other the government will always be able to find out who those behind such activities are and capture them. And things might change in the future with the new rules that CEX would be forced to work with, and there wouldn’t be as much privacy.

You arent seeing the bigger picture or bigger view because into those people who got caught are just peanuts into those people who do make out some illicit activities in the shadows which until now they
still havent been caught yet nor even discovered due to anonymity of this market then we are much sure that there are people who do really play in the shadows.We cant really just able to see
them or being too obvious but sure they were there. Speaking of privacy then it could really be used into other aspects which does have its pros and cons and that would really
vary on someones own intent on things.

[Ryu_Ar1]

Its true that fiat has so many restrictions that we feel uncomfortable talking about personal privacy, but don't forget that fiat is the measure of the value of all other things including gold. Without fiat we wouldn't be able to determine the value of bitcoin, getting rid of fiat entirely and replacing it with a decentralized currency would be impossible. I think a world where both bitcoin and fiat coexist is better, fiat is still essential in our daily needs.

It's true, even now, Fiat is still the main choice and can be used as a benchmark for the community in carrying out their lives.
It will be very difficult for us to stop that because as long as the regulations are still ongoing and the government is their backing, fiat will always exist, regardless of whether there is crypto or not Fiat will still be fiat which will be needed forever.

[Agbe]

The third world nations are not matured enough for privacy. Even their fiat currencies they can't distribute it well to their citizens. The fiat currencies are handled by few people in the society. Crypto Currency was created to support the Fiat currency not to take over it. But when the youths discovered that crypto currency is much more better than the Fiat currency, they key into the new age technology system of transaction and the Governments see that the youths are not using the Fiat for transactions, they came up with different policies. And most youths used crypto Currencies to scam people so the privacy use of the currency has been abused. Scammers can deceive you and enter your private wallet and transfer everything you have.  Handling privacy can also boil than to the security atmosphere of the wallets. When we say maturity, it means different things.
1. Technological
2. Security
3. Doing the right thing
4. Trustworthy
5. Equal distribution of resources

When these things are found in any society then that society is matured enough to handle privacy but where those things are not found, even the privacy is in danger.

[kamilah147]

yes, many people use fiat to invest in cryptocurrencies. Crypto is a digital innovation created as a substitute for fiat currency, besides being useful for making transactions, it also functions to generate profits for financial freedom. Although full of risks, the benefits provided are enormous. so everyone is happy to use crypto.

[lovesmayfamilis]

No debate is old as long as it hasn't  solved the issue on ground.  It  only becomes old when there is a  solution.

I see that the problem is solved. Privacy is already becoming only a dream. Show me real-life examples where you think your privacy is safe. The only exception is in bitcoin, and then with the right handling. Everything else, if you use the Internet, and not necessarily, has long been deprived of privacy protection, unfortunately. And it's time to get used to it and put up with it.

[LUCKMCFLY]

Society has never been mature to maintain something as important as privacy and anonymity, only the fact of having accounts with facebook, instagram where real photos are recorded, you are no longer anonymous or private, now in these times it is even more so the reason why it does not exist and thanks to all that is that at some point as I had said in a bitcoin discussion thread that my calculation is that in less than 10 years there will be almost no privacy, for everything we realize that we must comply with a mandatory KYC, and it is something that will become harder each time and with the help of governments, regulations, among others.

[Findingnemo]

First of all, most of the economic crisis are occurring due to the inflation rate hike which is here only due to the presence of fiat money. In 1990s who knows what is internet connection? In 2000 who knows what is computer? In 2010 who knows how to use smartphone but now everyone is using it for that they didn't take any special classes so when it is there then people will get used to it.

[South Park]

I have thought a lot about it, personally I think that governments and banks will eventuality release their own wallets in which you will need to pass KYC just to have access to them, they will never reveal your private keys or seed words and you will be able to use your coins everywhere there is a government registered business that deals with cryptocurrencies, obviously people like us will never accept something like this, but it will not surprise me if regular people actually did as they care way more about convenience than their own rights and the principles behind bitcoin.

Your idea could (unfortunately) actually become reality in the next years. The European Union is already trying to make a new law in order to add a KYC feature to every single address used to withdraw/deposit to an exchange. Of course even the CEXs are against this because it would take a huge amount of time and energy to check and register ever address used by every single user.

This is simply the reality that we are going to face in the future, your average person still does not understand why something like bitcoin was created, they think of it as simply an investment but they never stop to think about why it does have any value? Why despite the fact that we have fiat currencies a single bitcoin is way more valuable than any other currency around the world? But sooner or later they will learn their lesson and once they do then they will oppose all of those measures, I just hope that by the time they decide to do so it is not too late already.

[7788bitcoin]

~
But with the insecurity  and economic  crisis hitting the world from all angle is it still safe to agitate for a complete  decentralized  society  ditching  the fiat for bitcoin.  I only see both existing  together  with more preference on decentralization  but my concern  is if man is matured enough to handle the innovation or are you also seeing the abuse  of privacy coming along with it

If you are aware that it is impossible to ditch the fiat world altogether and enter the cryptocurrency space then you are in a fantasy world. The fact is investors does not care whether the space is 0centralized or decentralized as long as they are getting the necessary profit they are expecting .

When it comes to scams, it will continue to happen in the future and it is impossible to see a world without positive people.

[TheNineClub]

Privacy is good and bad at the same time.  And what becomes of it is dependent  on who handles it and how the handle it.  So far many wants to have bitcoin  ditch  out  fiat not for the intent of  having total control of their funds but for the sake of funding illegal activities  online without  any point of trace,  regulations,  monitoring  or prevention.

I am not disputing  the fact many still have genuine  reason for going private which include bank frustration and restrictions,  withdrawal  limits and declaration  of assets and investment as claim for legal possession  of a certain  amount  of fiat in a local bank.

But with the insecurity  and economic  crisis hitting the world from all angle is it still safe to agitate for a complete  decentralized  society  ditching  the fiat for bitcoin.  I only see both existing  together  with more preference on decentralization  but my concern  is if man is matured enough to handle the innovation or are you also seeing the abuse  of privacy coming along with it

I don't really think we have matured enough to handle innovation, at least at the pace modern technology is moving. It seems human evolution has not been able to catch up with our technological innovations, so we see some discrepancies. So privacy will be abused wherever it can be abused, at least for the time being. I'd say that that's because we are unable to think of a future that is not Capitalism (thanks to Francis Fukuyama), and under modern capitalism, privacy is just an illusion.

[Slow death]

the problem i see is that scammers are abusing privacy, i will give an example from casinos. there are bad people who are creating new casinos to steal people's money, because they know they are anonymous, they know that no one will report them because this is an anonymity market, so they have 100% guarantee that they can scam and will get away with no problems. this privacy issue is a very good thing, but it's a shame that many people are using it wrong

[yazher]

You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people. When you go to the Beggirner section of this forum, you will see what I really mean because you will see every month an update on ways to prevent how to get hacked because hackers are updating their techniques to fool investors and scam their money.

[Darker45]

the problem i see is that scammers are abusing privacy, i will give an example from casinos. there are bad people who are creating new casinos to steal people's money, because they know they are anonymous, they know that no one will report them because this is an anonymity market, so they have 100% guarantee that they can scam and will get away with no problems. this privacy issue is a very good thing, but it's a shame that many people are using it wrong

Casinos are not supposed to be anonymous. They are supposed to be a legal entity. A casino is to be legally registered. It is supposed to be operating within the regulations set by the government. Are casino owners anonymous? I don't think so. Casinos could actually be held accountable under the law. However, is there anybody who really pursued a case in court against a casino for stealing their money?

Privacy is actually both good and bad that is why there has to be a balance. Absolute privacy is not to be desired.

[Ziskinberg]

You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people.

Most of the time we just learn and see the importance of our privacy after experiencing bad as this never be on our minds at the start.

Well, the truth is that people really don't mind their privacy. And to hear people getting hacked, this was not surprising anymore, it was indeed a market view that we can't hide. For we don't change and we are still careless, and never mind the value of our privacy, we neither change as well. Hacking and scamming is still certain.

[Wexnident]

Nothing new with Crypto being used for illegal means. ANYTHING can be used for illegal means, not just crypto. And I'm pretty sure no one's really able to answer you about society wanting it or not, the sample's just too big, and honestly, why does it even matter? It's not like there's a rule that says they have to use crypto and/or fiat, they can just choose one and live with it. Compromise with what they really want so to speak. Abuse of privacy? Since when did wanting privacy become an abuse? What's abuse is hiding under the guise of automating stuff to completely control and obtain the privacy of a person (and vice versa) imo.

[Dunamisx]

I don't really think we have matured enough to handle innovation, at least at the pace modern technology is moving. It seems human evolution has not been able to catch up with our technological innovations, so we see some discrepancies.

Humans are trying in coping with the advancement in technological development since we don't have the whole world all developed while some region were still underdeveloped, but the means of handling privacy has been made efficient in such a way that the bitcoin decentralization places each as a determining factor to the handling of their privacy, in bitcoin, we have improvement proposals suitable for privacy which one can't do without while some will not mind with the consideration of their privacy.

So privacy will be abused wherever it can be abused, at least for the time being.

It is obvious that many abuse this privilege but nevertheless we have to consider that everybody is not an abuser of privacy, this is what we could not benefit from the rule of governments and we were served with the opportunity in bitcoin/crypto in dealing with our financial lives.

[rodskee]

You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people.

Most of the time we just learn and see the importance of our privacy after experiencing bad as this never be on our minds at the start.

Exactly , this is based on my own experience mate , I care nothing in the past about my funds until I lose one of my wallets because of my not caring on that.

Now i learn my lessons and knows how to handle security measures .

Well, the truth is that people really don't mind their privacy. And to hear people getting hacked, this was not surprising anymore, it was indeed a market view that we can't hide. For we don't change and we are still careless, and never mind the value of our privacy, we neither change as well. Hacking and scamming is still certain.

Lol everyone in crypto cares about their privacy its just that many don't really understand how it works and how this really meant to have.

[ChiBitCTy]

When it comes to privacy you can use bitcoin to an extent but it’s really better suited for true privacy coins such as Monero (and to a lesser extent Zcash). I have always maintained the position that it would be horrible for bitcoin to become a true privacy coin, not because I’m worried about what people will do with the private coins, but because of how governments will view it. They will assuredly ban it. Of course you can’t fully ban it but they can shut down the on and off ramps to a large extent (exchanges) and of course that would be very damaging.

[Quidat]

When it comes to privacy you can use bitcoin to an extent but it’s really better suited for true privacy coins such as Monero (and to a lesser extent Zcash). I have always maintained the position that it would be horrible for bitcoin to become a true privacy coin, not because I’m worried about what people will do with the private coins, but because of how governments will view it. They will assuredly ban it. Of course you can’t fully ban it but they can shut down the on and off ramps to a large extent (exchanges) and of course that would be very damaging.

It would surely hurt but not enough on blocking nor getting rid of it completely since we know that it couldnt be technically possible thats why they do really intend out on touching up platforms which is
attached or related to it thats why it wont really be that possible that everything would really get blocked but there are actually coins which are really that private or completely anonymous.
It cant really be avoided that there are indeed people who do make use of this feature for neither good or bad intentions.