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0 pointskrupan2y ago0 comments

From the linked article, "James Zhong committed wire fraud over a decade ago"

He definitely wasn't using Schnorr signatures 10 years ago.

0 comments

He was caught based on recent transactions.

Ok, first off, let's take a step back here. We are discussing a solution to this unbanking problem, but you and I have gotten off into the weeds a little about hiding actual criminal activity. Bitcoin is not 100% private, but it did take 10 years and this guy inviting the police into his home where they found his physical bitcoin wallets in order for him to get caught. That only supports the point I'm making that Bitcoin anonymity, though not perfect, is still pretty damn good. Good enough to fix this current unbanking problem.

Bitcoin is not magical and perfect, trade-offs have to be made in any endeavor. I personally think the ones Bitcoin has made are good ones. Maybe you still disagree.

astrange2y ago

Nah, the real issue (which it shares with every other crypto project) is that it invented a kind of decentralized network that doesn't get better with more nodes but still manages to use more energy.

Of course, all later ones are funnier. People think Ethereum is a distributed computer! But the whole network runs at the speed of a single node.

If you want to trade numbers with people over the internet, I recommend using Google Sheets. Maybe ban people if they edit it wrong.

j / k navigate · click thread line to collapse

0 comments

astrange2y ago

He was caught based on recent transactions.

krupanOP2y ago

Bitcoin is not magical and perfect, trade-offs have to be made in any endeavor. I personally think the ones Bitcoin has made are good ones. Maybe you still disagree.

astrange2y ago

Nah, the real issue (which it shares with every other crypto project) is that it invented a kind of decentralized network that doesn't get better with more nodes but still manages to use more energy.

Of course, all later ones are funnier. People think Ethereum is a distributed computer! But the whole network runs at the speed of a single node.

If you want to trade numbers with people over the internet, I recommend using Google Sheets. Maybe ban people if they edit it wrong.

j / k navigate · click thread line to collapse