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0 sats \ 19 replies \ @designsats 8 Mar 2023 \ on: Disadvantages of Bitcoin's Circular Economy bitcoin
Only one. How to get cash privately and cheeply and securely.
Difficulties: normies
why cash?
Why not just use BTC?
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Cash is and will always be more private than BTC when transacting in person.
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Wrong. That means you still don't know how to use Bitcoin...
HFSP
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I have to disagree on this one. Cash in person is private by default, without having to take any special care. However, cash is already being increasingly restricted and in a few years from now, cash might not be possible anymore and the only choice will be between bitcoin and CBDC or, to put it another way, between freedom or slavery. That’s the reason to get up to speed with bitcoin, learn how to acquire and use it, etc.
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Cash was private king until 2009...
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No, it isn't wrong. Keep savings in BTC, buy small amounts of cash using P2P platforms like HodlHodl or RoboSats for short term needs.
Cash is more private, because there is no permanent electronic records. Closest to that level of privacy we have with Bitcoin would be BTC backed chaumian ecash.
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Keep using fiat cash is LITERALLY supporting fiat to exist and therefore, banksters and govs.
YOU ARE LITERALLY AGAINST FREEDOM.
Learn how to use Bitcoin,, your lack of knowledge is disturbing.
I will send you 100 sats.
Please find back my real identity and where I live.
If you are able to do that I will reward you 1BTC.
If not... HFSP and STFU and don't say anymore that bitcoin is not private. You have no fucking idea how to use BTC.
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Inability for me to track you down doesn't mean state level actors like various three letter agencies can't do that if they really want to target you. Bitcoin is fairly private if you use it correctly. But it's not perfectly private, cash has benefit here by not being electronical.
LN isn't absolutely private also, there are a lot of known issues that yet need to be fixed.
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So you are just talking shit without proving that bitcoin is not private.
The story that "some agencies" can track means NOTHING. Is just a cheap scaremongering.
If bitcoin tx would not be private ANYBODY would be able to track it.
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I prefer using Bitcoin, but that doesn't change fact that in person cash transfers are more private.
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Btw, there is also BTC backed physical electronic cash, which has the same privacy properties - OpenDime sticks, which one person can pass to another, with no permanent record about this anywhere.
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Yes, there's a record, and I would repeat my question: are you able to track me payment to you of 100 sats?
Show me you can find me and then that means Bitcoin is not private.
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It requires big effort to constantly monitor whole Lightning Network for a lot of deanonymization techniques, I don't have resources for that. But I'm pretty sure NSA can do that and figure out things with some propabilitty (it's never 100%, even with simple Bitcoin onchain transactions).
I have spent big part of my life past few years working on improving Bitcoin privacy, mainly as a JoinMarket dev, I would say I have some knowledge on the topic.
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So you are working on how to make bitcoin more private but you are not able to track my 100 sats payment.
So how do you know your code is working? Something doesn't add up here.
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You cannot send me 100 sats onchain, except if we use payjoin, because it is below dust limit. Coinjoins for onchain in generic are working. I have not spent too much of my time yet on improving LN privacy (apart from one script to fight network traffic analysis against your CLN node).
That means nothing for me.
As I said: trace me back if you can and show me that bitcoin is not private.
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