Nostr Web Client

Also if it were absolutely fungible (private) then we would enter the outlaw phase much earlier and it would have much less chance of surviving. There would be no market demand for chainalysis because no regulated entity would be allowed to touch it in the first place.

And if it did manage to be successful despite being fully private it would become a victim of its own success because privacy at scale benefits large corrupt groups more than it benefits individuals.

Hanshan 10h ago

I understand that transparency is a necessary property for a first mover in a new space like this. beyond the regulation aspect, user simply wouldn't trust it as a store of value.

but it harms users if they misunderstand and think that it's actually fungible.

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Discussion

gsovereignty 4h ago 💬 1

If you make something and sell it for bitcoin do you care about the UTXO history? What do you specifically care about or what in its history would make you reject the trade?

Hanshan 4h ago

if one must sell the Bitcoin to an regulated exchange to pay my fiat bills, one might care.

it's easy to see how the network could bifurcate into KYCed and non.

I personally do not care because I do not interact with the regulated entities.