This is a great question. Privacy is important. How important is it? I’m not sure.
For example, I have some Apple stock. I don’t hold it anonymously because I want to them to know where to send the dividends. People tend to quickly lose interest in privacy when they have something to gain from not being private.
On the other hand there are certainly some times where you want privacy. The system allows for this by having privacy pools that you can pay through that preserve privacy. It isn’t as optimal as knowing exactly where the money came from, but if we can optimize 80% of transactions and 20% still need to be private, we can gain a lot of ground.
There are also some cryptographic solutions to the privacy issues that could solve the issue of privacy.
How much Apple stock do you own? Enough to motivate someone to kidnap your relatives and blackmail you? Then you would get interested in privacy again.
Potential absurdity bias maybe? Tim Cook has a ton of apple stock and I don’t see many kidnaping attempts. Someone tried to blackmail David Letterman a few years ago and that guy is in jail. This is certainly in the realm of possibility, by I think highly unlikely. Now if you want to talk about your deadbeat brother in law hitting you up for a loan....again...maybe that is an issue worth addressing, but I bet your 3000 sq ft house says more about that than your blockchain activity.
You certainly wouldn’t want to try this without some significant rule of law.
...and besides, I do think privacy is important and you have to have a mechanism for it. Hypercapitalism has a mechanism.
It seems to me that your system involves a serious loss of privacy. Does it? If so, do you think that’s a problem?
This is a great question. Privacy is important. How important is it? I’m not sure.
For example, I have some Apple stock. I don’t hold it anonymously because I want to them to know where to send the dividends. People tend to quickly lose interest in privacy when they have something to gain from not being private.
On the other hand there are certainly some times where you want privacy. The system allows for this by having privacy pools that you can pay through that preserve privacy. It isn’t as optimal as knowing exactly where the money came from, but if we can optimize 80% of transactions and 20% still need to be private, we can gain a lot of ground.
There are also some cryptographic solutions to the privacy issues that could solve the issue of privacy.
How much Apple stock do you own? Enough to motivate someone to kidnap your relatives and blackmail you? Then you would get interested in privacy again.
Potential absurdity bias maybe? Tim Cook has a ton of apple stock and I don’t see many kidnaping attempts. Someone tried to blackmail David Letterman a few years ago and that guy is in jail. This is certainly in the realm of possibility, by I think highly unlikely. Now if you want to talk about your deadbeat brother in law hitting you up for a loan....again...maybe that is an issue worth addressing, but I bet your 3000 sq ft house says more about that than your blockchain activity.
You certainly wouldn’t want to try this without some significant rule of law.
...and besides, I do think privacy is important and you have to have a mechanism for it. Hypercapitalism has a mechanism.