this post was submitted on 19 Jan 2024
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Once, drug dealers and money launderers saw cryptocurrency as perfectly untraceable.

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[–] doggle@lemmy.dbzer0.com 29 points 2 years ago

Bitcoin is, fundamentally, a publicly accessible ledger of every transaction ever made with the currency. It's basically the most anti-anonymous way to run a currency imaginable.

People have just been hedging their bets on authorities not knowing how it works, which is increasingly not the case.

[–] BossDj@lemm.ee 28 points 2 years ago (1 children)

Is the age shocking because young for "societal accomplishments" or old for "tech genius"?

[–] Rognaut@lemmy.world 17 points 2 years ago

Right? I think I'm missing the significance of the person's age.

[–] possiblylinux127@lemmy.zip 9 points 2 years ago (2 children)

I don't think anyone ever assuming Bitcoin was untraceable.

[–] smeg@feddit.uk 5 points 2 years ago

Reading the article I think it's obvious to us now, but the paper was posted 11 years ago and people definitely thought they were anonymous then!

[–] Lmaydev@programming.dev 1 points 2 years ago

All transactions are in fact intentionally public.

[–] shortwavesurfer@lemmy.zip 7 points 2 years ago

This is why Monero exists.