pull down to refresh
1 sat \ 4 replies \ @ek 16 Aug 2022 \ parent \ on: Change my mind: Large bitcoin transactions should not be private bitcoin
Another good reason is to say "to protect the children". Works everytime. Who would be against protecting children? /s
Nah, fuck children, they're annoying and they make me uncomfortable drinking in front of them.
But we do have strong distinctions between which communications should be private and which shouldn't. For example, insider trading regulations. So I think it's fair to ask if, similarly, some transactions should be private and some shouldn't.
reply
Good point. It's definitely fair to ask, that's why I upvoted your post. Thanks for posting it!
But regarding insider trading:
There, we regulate that insider trading is not allowed by investigating it when it was exposed. But we don't regulate that every communication between parties must be open to prevent such things. Correct me if I am wrong.
So I think the difference is that insider trading laws do not lead to "guilty until proven innocent" which is how AML laws are applied. There, you are guilty until proven innocent which I think is not how it should be.
reply
Well thanks for the upvote!
If I'm reading you right, you're saying that all entities should be presumed innocent until proven guilty, meaning their transactions should be private and any wrongdoing must be discovered another way. I'm open to that and do take that view regarding many things, but I'm wondering if in this case the wrongdoing would actually be impossible to discover if all transactions are private.
reply
Yes, exactly. I think those wrongdoings should be discovered another way since else, other rights that are more important to me go out the window. Privacy and free speech (since AML or similar laws can be used for censorship) are the first which come to my mind.
However, yes, I am also wondering if that would make it impossible to prevent cases where financial transactions are not good for society.
Someone else in this post proposed to have Gov btc addresses public, so maybe something in this direction.
reply