Author: Gregory Maxwell 2015-03-27 03:13:06
Published on: 2015-03-27T03:13:06+00:00
In an email exchange, Thy Shizzle reported that there were talks about a government body warming up to Bitcoin by issuing addresses for use by a business; however, all transactions could be tracked for that business entity. A country specific Bitcoin group proposed this idea to their government, but not allowing address reuse would neuter it. The author of the email responded, expressing concern over this proposal, as it would seriously attack the design of Bitcoin, which obtains privacy and fungibility through avoiding reuse. They argued that no business or individual would use a system where their sales, customers, margins, suppliers, spending, net worth, and personal information are visible to competitors, in-laws, landlords, and thieves. While no one is suggesting blocking reuse as a network rule, the reasonable and expected response to such a proposal would be to do so. The author suggested advising this "country specific bitcoin group" that they shouldn't speak for the users of a system which they clearly do not understand.
Updated on: 2023-05-19T20:00:14.366609+00:00