yes. I increasingly believe that privacy as a feature alone is insufficient to compete against BTC’s monetary network effect nor accrue significant value to a separate coin.
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there is also virtue in exposing your transactions when they are above board and there is *equal access to the data*, unlike existing banking system
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come to think of it, the existence privacy coins could make the choice to use a non-private coin more meritorious, and hence add value to the latter (I hadn’t really thought about this until now)
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I am wondering if the usual discourse in CT, i.e. that privacy is good and transparency is bad, is not an argument that lacks nuance? Yes, we want individuals citizens to be able to transact privately, but we also want governments and FIs to transact in a transparent manner.
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This is one more reason why (if we assume this will be a winner-take-all outcome) I am quite pessimistic regarding privacy coins. The best coin would be one which would force governments to transact publicly while allowing for citizens to transact privately if they so wished.
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BTC is clearly best positioned to be that coin. Transparent or private, as required. Admittedly you need a significant amount of technical knowledge to transact privately in bitcoin at the moment but it IS possible and privacy improvements are happening.
End of conversation
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