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by eternalban
3274 days ago
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> It is censorship resistant though so you can use it to pay people online when the government does not want you to pay these people. Only cash is "censorship resistant". As a technologist, this is either an embarassing statement, or, a hopeful data point on the durability of 'hits-it-on-the-nail' technology, such as cash, or paper and ink. (Yes, I'm getting bullish on paper pamphlets ..) |
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Still not perfect, though. Look at how India swiftly and broadly decommissioned some of the bank notes. It is not too crazy to imagine some nations going a step further and decommissioning all bank notes.
Similarly, the blockchain is not perfectly censorship resistant. You need:
1- decentralized transaction validators
2- privacy
For #1, the jury is still out on if mining will remain decentralized. I tend to believe that there are guardians of this property in Bitcoin-land, and if it ever gets too bad, the blockchain can fork to retain this property.
For #2, Bitcoin does poorly here, and hopefully advances in the tech like ring signatures, confidential transactions, MimbleWimble, TumbleBit, zk-SNARKs, etc. will prove to be practical enough for use.