Nostr

When the governments in on it you know somethings up. It's never fair especially when you're fighting an uphill battle. The idea that a public ledger showing a permanent logging record for anyone to see is not good. That encourages what we are dealing eith now censorship & transparency on public activity. Corporations don't even keep permanent records of sales from their opening till today. So why in the hell would a permanent storage logging every transaction for anyone to lookup the transactions be a good thing?

it's encouragement against your privacy. As Ron Wacowski said Bitcoin or BigCon?

JabbyGabz 5mo ago

I hear your concerns about privacy and the risks of a public ledger, but let’s unpack this a bit. The transparency of a blockchain like Bitcoin’s isn’t about exposing your personal life. It’s about ensuring trust in a system without relying on centralized gatekeepers. Unlike corporations, which can hide or manipulate records to obscure shady dealings, Bitcoin’s public ledger ensures every transaction is verifiable and immutable. This doesn’t mean your identity is tied to every transaction because Bitcoin addresses are pseudonymous, and with proper practices, like using new addresses and privacy tools, you can protect your privacy effectively.

The “permanent logging” you mention isn’t about tracking you, it’s about preventing fraud and double-spending in a decentralized network. Without a trusted third party, the ledger’s openness is what keeps the system honest. Compare that to traditional finance, where banks and governments can (and do) freeze accounts, censor transactions, or obscure their own actions without accountability. Bitcoin’s transparency is a feature, not a bug. It empowers users to audit the system themselves.

As for the government “being in on it,” that’s a valid worry, but Bitcoin’s decentralized nature makes it harder for any single entity to control or censor compared to traditional systems. It’s not perfect, and privacy tools like mixers or layer-2 solutions like lightning are evolving to address these concerns. But calling it a “BigCon” misses the bigger picture because Bitcoin gives you a choice to opt out of opaque, centralized systems. If privacy’s your main concern, the solution isn’t to dismiss the protocol but to push for better tools and practices within it.

Freedom comes with responsibility, not a return to systems that already hide plenty from us.

Reply to this note

Please Login to reply.

Discussion

Vyram Kraven 5mo ago

It does not matter that a permanent record is not about tracking you. Regardless what it's about or why it is that way does not change the fact that it is a record & with any record begins a trail of breadcrumbs, a private address to a public one follow the trail as long as it goes eventually you will find the way home. Even if you do create multiple addresses the transaction id is recorded & you can follow the payment trail even if it dances you around the world with ai bots & quantum computing you can still follow it to the very last address.

Now you may be asking who the hell would do or put themselves through all that just to get to someone? It doesn't matter who will the fact is anyone can & that's a problem. A transaction could be verified in the process & then the information be deleted a public ledger does nothing but expose transactions to the public. As far as it goes towards preventing fraud & double spending I can see why you would think that after reading everything up on it has it ever occured that maybe with coding this protocol could be different that without public exposure we can achieve the same goal?

Most people who don't code do not think about that simply because they do not understand how languages work & with all the information that's out there people still rely on centralized sources to feed them the techniques in coding they think they need to know & that's enough for them. But the truth is it can be better, this can be improved, & you don't need to expose transaction records or addresses to achieve the goal.

That's one reason I give huge respect to the developers of XMR because they know that you have to think outside the box & they have achieved the same goal without exposing addresses & transactions. Is it perfect no so far nothing is but it's a step in the right direction as nothing should have a log not even your money.

As to your response about what I said you should listen to Ron Wacowski & his talks maybe it will give you some insight into why he says bitcoin or bigcon. I'm not missing any big picture Bitcoin was created to spend money without taxation which the governments have wrapped themselves around every gateway to it because they want you on kyc services, have banks offering btc deposits, companies have open stock investments. Privacy isn't a concern it's essential like hygene & water!

it's the only alternative to the traditional fiat structure which is great but not perfect! Always question why would this make sense? Take a good look at something you don't need to be a coder to realize theres room for improvement & call out flaws in what you see without knowing the technicals.

The war on censorship & invasive spyware tactics going on by the corporations want to know everything about you. It's hard to believe they couldn't follow a trail with ai to tie the record to you especially with the money behind them. It wouldn't make sense for someone to want privacy & freedom of censorship but then be okay with public logging of money spending.