I haven't really had the time to test out crypto mixers and privacy coins but I simply expect that they won't be 100% effective in anonymizing transactions.
When you look at the fact that moving forward, transacting with crypto will become a lot wider than it is now, I mean, right now, the pattern seems to be:
Turn fiat to crypto, play around to grow the capital, cash back to fiat.
It's so straightforward, so keeping one's cool and staying out of sight is rather easy with such a bar of transactions, but what happens when the list expands?
Can now pay for coffee with crypto more often because numerous shops accept it.
Can buy shit from numerous e-commerce stores.
Buy game packages.
Subscribe to a OnlyFans page for the “Men Of Culture”.
And the list goes on.
You see that at such a point, running through several hoes would be a lot tougher, I can comfortably presume nothing short of 100X harder.
How then can we survive such a time without transactions anonymizing tech?
Surely, it's important we understand the “Why” first before seeking out “How”.
Why do we need to be anonymous?
I think, privacy coins were so ahead of their time being developed so early on and to be so underrated up to this point while we are running around chasing memes and shitcoins is just crazy.
Tornado Cash is an invention that has received little appreciation for the service it offers but why really do we need all of these things?
Certainly, the average person doesn't care about someone knowing this wallet or that wallet belongs to them until “having people know” becomes a big problem.
This is the real world, sick shits happen, one should understand that nothing beats privacy.
Seen the trend of twitter?
There's been a bunch of wierd shitcoins being released lately, some with racist slurs and all that, I mean a lot of it, I'm talking Black, Jews, Asian(I think) and even some about Women.
And a lot of people are buying them and publicly doxxing their own wallets.
How stupid can you be?
Trust me, this is not about fear of “Cancel Culture” cause f that, but come on, in as much as CC is all a game to create a division amongst people, it's still a real struggle and one shouldn't be caught being so exposed to shits like that.
You're dealing with a not just public database but one that is immutable.
You have centralized exchanges already KYC’d your addresses and now the social community too?
Sure, for today, it may seem like nothing, until it becomes something.
If we are going to be leveraging blockchain more and more going forward, there's a lot more responsibility we need to take on.
A single transaction is enough to screw a person over for life.
Because, the records are literally there.
That about explains the why?
If not, here's it in one sentence:
We need anonymity tech within crypto because having public transaction records is generally bad for business, individually(not for companies, I think we need more transparency in that area).
Imagine applying for a job and being rejected because your transaction history shows you traded a Jews mocking token, I know, it's stupid but this is the same world teaching our kids they can identify as eagles and bunnies, what madness do you possibly think cannot be manifested?
I'll tell you, NONE!
For this, I say we need to revisit privacy tech and push for more smart developers to build the system that can cut us some slack when the time comes for the world to go up against us over a memo typo(when you drunk-typed) like “Fuk gy pple”
I'm sure you know I meant “For gray pupil” right?
See what I mean? all love people :)
Posted Using InLeo Alpha
Well what do you know, after pressing publish I find news of EU going after anonymous crypto transactions.
It doesn't get more obvious than that.