Comment on U.S. Government Removes Tornado Cash Sanctions
Alphane_Moon@lemmy.world 1 year agoRidiculous example.
This is not an issue for any transaction. When I send my friend money from my bank account, they don’t know how much is on it.
No, but if the US government sends money into your bank account, they can just as easily take it back.
forbes.com/…/trump-administration-takes-back-80-m…
Crypto was designed to be a peer-to-peer method for immutable transactions. Crypto transactions are irreversible, even for governments.
Don’t be stupid. If the government wants to get your crypto, they will.
It’s all a matter of whether they see the effort as being worth it.
you have no idea whatsoever what your talking
I shouldn’t feed the troll, but there is a teachable moment here.
Crypto transactions that are direct on a Blockchain, by design, are immutable. Once they are validated in a block, and future blocks are validated on top of that, it is impossible for any entity to change that history unless they control a majority of the validation power of that network. Yes, even the NSA can’t do it. It’s math.
Yes, if the government wants your crypto, it will get it. But the only way to do that is to obtain your private keys. It cannot reverse a transaction, nor reverse-engineer your private keys from a transaction. Yes, not even the NSA can do it. It’s math.
Governments do have other tools at their disposal. But those tools must center on obtaining the key. They cannot “hack” it any other way.
It’s fascinating how you assume that anyone who has a critical outlook on crypto has no clue what they are talking about.
Mubelotix@jlai.lu 1 year ago
We are not talking about your bank account, we are talking about public transactions on public ledgers
Alphane_Moon@lemmy.world 1 year ago
That’s the point. You can send people a transaction via a bank account and they won’t know how much you have.
This who privacy thing is a roleplay thing for you.
Mubelotix@jlai.lu 1 year ago
But the bank will. You prove my point