Comment by doganugurlu
1 day ago
I think you are conflating 2 things: - ability to privately give money to someone (mechanism is irrelevant, by hand or by way of a blockchain) - self-custody risks for uninformed users
The first one is the privacy argument.
Would you be comfortable if you’re not allowed to give the cash in your pocket to someone without someone watching over? If the answer is no, you are pro privacy for financial transactions.
Cash has the privacy feature as a default. You can argue that 3rd parties that help you send cash don’t have to offer any privacy, but BTC isn’t that, and forcing it to be that way is an attack on privacy.
I don't have a predetermined opinion on whether it is good or bad for cash to be untraceable.
I think arguments for privacy are pretty poorly argued and often come down to "isn't the idea of someone watching you icky" which this thread is not disabusing me of.
The main argument for privacy is that a lack of privacy is the primary vehicle of crimes against humanity.
When you do not have privacy, you must then have trust. You are trusting, typically blindly, that your governments and other organizations will not use knowledge against you.
Before the Holocaust, Germany built a registry of known Jews by census. Obviously at the time, nobody knew what it could be used for, the latent evil within just plain information. It was done innocently, naively.
The same applies to all privacy violations. Yes, we could monitor, record, and analyze all text messages. Sure.
What are the consequences of that? What if you live somewhere where being gay is punishable by execution? What if you out yourself?
What if you're not even gay, but it seems as though you might be?
Or what if you live in an authoritarian state, and dissent is punished with death? Your government has cornered you. They can do whatever they like, and you cannot so much as vocalize complaints.
You may say, "oh well this isn't the case for me, so who cares?"
Yes, now, in this particular point in time, in your very specific place. What garantees do you have that things stay that way? None. You are blindly trusting that those who hold your information will not weaponize it.
You have given your enemies a gun, loaded it for them, held it up to your forehead, and said "please don't pull the trigger"
As a thought experiment, imagine how differently the underground railroad would look if everyone had smartphones that were tracked and communications surveilled.
This seems like an argument against the state in every form, you could say the same thing about the government collecting taxes, having a police department, courts etc.
Unless you are a committed anarchist though, you likely see a limit to the use of the precautionary principle as applied to state capacity in general.
Why is this argument sufficient to stop the state from monitoring financial transactions, but not sufficient to prevent the existence of a justice system?
1 reply →
> I think arguments for privacy are pretty poorly argued and often come down to "isn't the idea of someone watching you icky" which this thread is not disabusing me of.
Now imagine that "someone" hates people like you, has the power to hurt you with impunity and is actively looking for any excuse to do so.