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1 sat \ 2 replies \ @pi 16 Aug 2022 \ on: Change my mind: Large bitcoin transactions should not be private bitcoin
Everyone is trying to influence the world in their favour, there's nothing inherently wrong about it and you don't necessarily need large sums of money. For example, this is what you and I are doing right now, by trying to convince each other of our respective point of views.
I'm worried that by creating special rules for specific people you're introducing an attack vector that can be exploited and abused.
Take for example gun controls, you can't own one, but only men dressed in blue can… by preventing you from defending yourself, the State makes you dependant on him and can now manipulate, coerce and exploit you.
If privacy is a good thing, it must be universal, for small and large transactions. I can think of many types of large transactions that we not for buying influence.
Your example is not practical either, corporation, could easily bypass this law by making several small transactions instead of a large one.
I agree with you on everything, but I think a better gun analogy might be: do you believe a person should be able to buy/sell one gun without anyone knowing? If so, do you believe that person should be able to buy/sell 10,000 guns without anyone knowing? Should a multinational corporation be able to buy/sell thousands of guns without anyone knowing who they are or even that it's happening?
As for the practicality, transactions can be split up, yes, but unless there's black-box privacy, volume anomalies can still be observed, which is useful data.
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You either have privacy, or you don't.
The problem is that you keep wanting to create exceptions where privacy would not apply. This will introduce a loophole that somebody will eventually exploit to invalidate privacy for everyone.
This is happening right now with the 1A and 2A in the US.
As long as everyone has the right to defend themselves with weapons, it makes no difference if someone is allowed to buy/well 1 or 1000 guns without anyone else knowing.
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