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by matheusmoreira
1629 days ago
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> What do you mean? When it was created, it was idealized as the digital equivalent to cash. Totally private and anonymous so you can do whatever you want without some bank or government monitoring you or taking issue. It was supposed to be your money, not your social credit at the bank that the authorities allow you to use for approved purposes. Bitcoin totally failed to become all that. The ledger is public and perfectly traceable so it's even worse than money at the bank. People have even identified the wallets of whales so that they can track their movements and see if they're about to dump on the market. Coins are not fungible which means exchanges will refuse your tainted money if you use a mixing service for privacy. Governments will sanction addresses, making the coins held by them illegal and unacceptable by any business. > Becauee my transactions were cheap and quick Mine were not. Were you using the higher layer networks that delay blockchain settlement? Because that defeats the purpose of having cryptocurrencies in the first place. |
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Well, but that's not about "not regulated", just not totally anonymous.
But it if you think about it is better than money in the bank. Because that can be traced only by governments, and here average Joe can do the tracing. So it is at least more egalitarian.