Had a somewhat unlikely, but disturbing thought. ( conspiracy )

submitted by Its_Just_A_Ride

So apparently this new bill is pretty bad for cash.

http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin

The way the law is structured, cash and high-value objects are to be either tracked by self-report, or confiscated. Obviously this is another push to bring about that whole globalist cashless-society thing. I always assumed the modern implementation of that would be credit cards, but what if it actually happens with crypto-currencies?

When you think about the rules in this new bill, an encrypted file with digital currency is the only thing that a cop would never be able to prove was valuable, even if they had probable cause to search you. This basically means that this law would be pushing up directly towards a cashless society, with cryptos as a method of black market exchange.

Now what happens if the digital currency was completely traceable to an IP? What happens when the NSA has front door access to nearly all ISPs and VPNs, and crypto-echanges? What happens when they have hardware back-doors for the ones that don't comply? What happens when the NSA has finally complied enough supercomputers to actively do all the monitoring in real time?

domains

thanks for confirming my assertion.

Perhaps I should be the one welcoming you to voat?

Unreasonable

Yes, but with ring sigs you don't need to verify the content in order to verify the transaction. Makes anonymous transactions possible, cause you don't know what transactions are in the block.

Unreasonable

They can't. Not without taking down the whole internet. Across the planet, simultaneously and forever.

Unreasonable

Nope. Zcash, Monero, Waves, and several others use fungibility, ring signatures and various other methods to make it completely untraceable. Yes BTC is pseudo-anonymous, as wallet and transactions can be traced, but they're working on upgrades. Segwit and 2mb blocks will help BTC upgrade to a more secure environment. Once lighting transactions and atomic swaps come on line, there is literally nothing anyone can do to trace the transactions.

Worried about quantum computing advancing and being able to "hack" the blockchains? Quantum Resistant Ledger just got released and uses encryption that even quantum computers wouldn't be able to hack.

Strange_Attractor

There's always rare pepes. Just the other day I traded a rare pepe for goods & services.

domains

submissions are going to open up next month! securely register your counterparty assets now, and start illustrating.

Strange_Attractor

More information about this please

Unreasonable

PepeCash is a wonderful blockchain where you can store your PepeCash and rare Pepes on the blockchain, so that they are preserved forever.

Venezuala actually uses rare pepes as currency.

Goater

See Silk Road as example.

Close down one market.

Four more open.

Close down one exchange or backdoor it.

Four more open.

Also, cryptos don't need an exchange to make a transaction of the same coin.

Unreasonable

Plus decentralized exchanges are coming online. You don't even need and exchange to exchange anymore. Check out the Waves DEX.

domains

Idiotic. when the rules of the land are written by people who don't understand the nature of reality.

Any crypto asset user can have access to the funds before leaving home and after arriving at their destination and not need to carry on their person. Funds can be fetched from the blockchain at any time with use of a password and at no time in between is it in someone's possession.