Hacker News new | ask | show | jobs
by javert 2122 days ago
Hi. You are are ruining bitcoin because it cannot be used for P2P transactions anymore, because you'll get tainted coins, that cannot be converted into USD, because the exchanges reject them.

Please release a tool that allows regular people to query your system, so we can reject tainted coins, just like the exchanges do. I don't mind if you charge for it, even if it's a lot.

If you have any advice on this problem, please let me know. Thanks.

1 comments

They're not ruining Bitcoin, they're only making it painfully obvious how totally unfit for use Bitcoin has always been.
Bitcoin could be financially quite useful because of the liquidity and fixed supply. A single global currency that can't be manipulated or inflated would be wonderful. It would give us a way to store wealth that isn't the securities market [or art or land], which would make the securities market [and art and land] much more rational.

If bitcoin gets there, of course, it's many years away.

Of course you are right that Chainalysis isn't ruining bitcoin per se. It was intentional hyperbole on my part.