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0 sats \ 2 replies \ @om 16 Aug 2022 \ on: Change my mind: Large bitcoin transactions should not be private bitcoin
I'm not sure I understand the question. Suppose you know that a billionaire Tony Stark has a UTXO of 100K BTC. You see this UTXO splitting into three worth 20, 30 and 50K BTC. Then you see 50K further splitting into 10 and 40K.
Now form good policy based on this data.
I should've been more clear. Maybe this is a better phrasing: when it comes to transactions of thousands of sats, is the world better if we have full publicity with identities attached, pseudonymity, or complete black-box privacy (no record of transactions, like cash)?
Then, is the answer the same when it comes to transactions of thousands of BTC?
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OK, I see.
The government really wants to see what billionaires are doing but they do funny stuff like smurfing or structuring. This is why the government insists on all this AML/KYC shit which hurts ordinary people - not that the government gives a shit about those. Realistically it's not possible to enforce publicity for billionaires and maintain privacy for small folk.
So given the realism constraints I choose privacy or pseudonymity for everyone.
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