[cryptome] Re: 1st British Bitcoin Exchange due to open
- From: Peter Presland <peter@xxxxxxxxxxxxxx>
- To: cryptome@xxxxxxxxxxxxx
- Date: Wed, 08 Apr 2015 16:51:06 +0100
On 08/04/2015 15:29, John Young wrote:
Odd that Bitcoin users believe its anonymity features, as though
exchanges occur in the untappable, invisible, untrackable byways
What better way to track bitcoin users than anonymizing bitcoins.
I can't compete with Dougie's epistle about technical Bitcoin
anonymity/Authorities matters. Suffice to say that my post was primarily
to point out a couple of misunderstandings - misunderstandings which I
now suggest evidence a lack of familiarity with the issues and may
therefore affect his speculations.
However, my 'shit-scared' characterisation had nothing to with the
alleged anonymity (or lack thereof) of Bitcoin transactions.
The thing that really bothers the financial authorities is the absence
of centralised control over issuance and all that flows from it. Since
Bitcoin issuance is known and finite, it is analogous to gold as a
currency but with none of its storage and exchange problems. How to
exercise a similar degree of control over Bitcoin value and flows, that
is their problem and they are working on it.
Bitcoin take-up remains constrained by the need to cash-out. So long as
that is so, then its use will likely remain confined to the fringes. The
financial authorities absolutely need to be able to prevent any serious
break-out from this constraint and they don't appear to have a plan -
yet. Hence my 'shit-scared' remark.
OTOH, the Powers that drive the NSA (ie those who also pull the strings
of the ones who are 'shit-scared') have almost certainly got the whole
thing well in hand - even designed it this way :-)
Mr Nakamoto may indeed be a maverick but co-opting the technical
brilliance of mavericks (among its vast array esoteric capabilities) is
after all an NSA speciality.
Recalls the case of Crypto-AG being rigged by NSA to spy on its crypto
machines. Or Tor and Snowden implementing digital Crypto-AGs.
Still, biblical faith in unverifiable protection is as ancient as authority
warnings of enemies at the gate, in the soul, in the private parts.
Not to mention invention of money and taxes conjoined to
mortality: death taxes a great way to assure filled tills.
But no authority can survive without porn, liquor and gambling.
And heavy-handed alarms about their danger if not carefully
controlled to assure dependency on defiance of authority.
Cheating humans is supremely human.
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