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RE: The US Government Wants to Declare War on Private Asset Holding, Including Crypto Currency

in #bitcoin8 years ago

This is one of the main reasons that anonymous chain projects should be supported. Everything living on the chain forever has huge privacy issues once computers are able to crunch the numbers better. In a near distant future, you walk into the job interview. They have you sign a form and your financial history and purchase history is displayed on the screen for discussion. Do you remember everything you purchased on the blockchain? Did I violate a law when I purchased maple syrup for btc in 2014?
It takes work right now to anonymize your spending, better that these tools be built into the chain and on by default.

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I'm not afraid of total transparency, except that it currently only runs one way, and too many of our authoritarian laws are not based on common sense. If we got back to only punishing for crimes that actually violated the rights of another citizen, we'd have much less to fear.

But you have to consider that 'rights' is too broadly defined and depends on culture. The view of personal freedom in one country may be vastly different then another. Even simple things as ownership have different meanings in different cultures.