Crypto is the future is what people are always saying on various social media platforms. As soon as we get rid of that blasted FIAT the better. But do people really mean this? I would not like to see FIAT money gone for privacy purposes. I do not want Johnny Two Doors down to know my financial business. But this is what we are signing up for. Crypto is more traceable than FIAT ever was and this is a conflict for many blockchains with the exception of the privacy chains such as Monero for example. These privacy chains are also known as pedo chains for reasons I won't go into today/
With Hive I can see where the money is flowing in and out of wallets. I can check peoples rewards and what they are doing with them. People can make up new Hive names and alt accounts but if you have time it is easily deciphered. You can see everything. And people do not see this as a good thing. Now it does prevent many dodgy dealings going on in Hive as people can just check your wallet but is it a tool that stops people signing up. Most crypto wallets are a 17 digit address which makes things a bit more private. Obviously like Hive you can track addresses as well but it much harder to go especially when it comes to cross chains and bridges and the like. Rug pullers just make up a new wallet in Sol and go again with a scam. Rug pulls are turning into the scourge of crypto. If people want mass adoption then this is not the way to go about it.
I lived in Germany for a time and it is the one country that has not taken to tapping their bank card. They hate cards with a passion because they like their privacy. Cash is king in Germany and they do not want their spending recorded on a ledger. Gunter does not like a record buying the new BBC 3000 rocket vibrator and rightly so. It's none of your dam business. Switch to a country like Sweden with a socialist government. Maybe a Swede on Hive may correct me but I think you can check what salary Johnny Two Doors down is on by a simple laptop check. Maybe it is not as simple as that but a Swedish friend of mine told me it can be done.
I was watching the day of the Jackal the other night and I found it excellent. There was a guy in it that was unveiling "River" which was basically a financial system that was transparent. In a way it was crypto because it is exactly what he was saying. The Jackal was tasked to shoot this founder by the big bad banks. I won't tell you whether he succeeded or not. But the idea was that the rich did not want this new financial system because the transfer of wealth from poor to rich could be tracked. This new financial system would transfer the wealth from rich to poor. When you think about the likes of Bitcoin and Ethereum, it did just this as most people that got in early were the tech-savvy who were crying out for a new financial system. Ok I get it. Many rich probably got in early as well as Bitcoin was like buying magic beans back in the day. Nobody thought it would explode quite as much as it did. But there was a transfer of wealth here and new millionaires made over night. I think we can all agree on this. But since then I think many rich whales have come in and this transfer of wealth is going back from poor to rich.
We talk about Freedom of Speech alot on Hive. It's never the way I look at Hive as I think an highly opinionated whale can stifle the freedom of speech in an instant much worse than any facist dictatorship. But I do not think people value this over wallet privacy. Give them an option and it is wallet privacy all the way I would imagine.
But it all comes down to whether you mind if the guy next door knows how much you are worth. If you do not care then you will more likely switch to crypto in the future. If you do care and I assume 95% of people do then they are going to stay with FIAT because as we all know. Cash is King.
The way I see it is that currently we are KYCd and AMLd up the ass and the government and government agencies have total privacy with their funds. Bitcoin will level this transparency playing field. I say bring it on.
How TF did that happen? Completely bass ackwards from how it should be. However, @blanchy's point that cash is completely private is true, and we should have crypto just as private. What funds you have is no one's business but yours. It's only YOUR money, so it's no one ELSE'S business.
Let's put public funds on blockchains, with 100% track and trace transparency.
I agree, there should be total privacy and I believe it will come. First we get to watch Fiat die.
If we must wait until fiat has died for a replacement, we will then suffer an interregnum of total economic insufficiency, as fiat collapses and transacting becomes impossible, with all the social and civil disarray that implies. A preferable future would come from providing a fully functional replacement transactional mechanism, such as Monero transmitted over a global Reticulum network owned and operated by the users, that replaces fiat and causes it's death.
Lets do it!!
It is coming via COTI V2 and will allow transactions to be private yet still meeting regulations and compliancy. Businesses will not adopt crypto until this happens. This is going to be the next big narrative.
Very good points. I don't want to give up the anonymity cash provides. This is a primary reason I don't use banks, because they're creepy data stalkers. Also, they're thieves, and I don't need that kinda crap while I'm trying to do business. However, there's no way to exchange crypto for cash without a bank, at least not that I have found available to me. This means I also do not use crypto as money, for the above reasons.
Thanks!
I work for a public school district, so if you know my name, my annual salary is in a database that a "watchdog group" FOIA's every single year. There is pretty much zero privacy. They think the public is entitled to see where their tax dollars are going at the expense of all the employees privacy.
Didn't know there was this amount of transparency in the states. Interesting.
Mostly for state and federal employees.
Seriously?
If you work for the public funded by the public, transparency for the public is expected.
Value plan for example, gets paid by public funds but doesn't want to be transparent with their expenses. Would the public trust them under that practice?
There are eyewitness accusations of theft by fraud of Valueplan disbursements, and when confronted about those specific accusations, Valueplan principals flatly refused to provide documentary proof, receipts, that no fraud occurred.
I have zero trust for Valueplan because they have refused to account for expenditures that were alleged to be fraudulent. They have earned my mistrust. Ya'll can trust whoever you want with your money, but when I demand receipts in this circumstance and am refused, I will not again let them spend my money.
Ever.
I'm just going to say I disagree and those are two totally different examples, not even close to being an apples to apples comparison.
Who does the DHF belong to? It belongs to Hive stakeholders, since there's no corporation that owns Hive, Inc.
That makes the DHF public money.
So, do you not have a right to know how your money is being spent?
I'd appreciate a simple yes or no to that specific question.
I'm sure you would.
The fact you didn't provide one is all the answer that matters.
Fair enough, for me it's your attitude and approach that matters and sadly you failed on both counts.
Public employee does not want their salary public. Go figure.