Hacker News Reader

Comment by srean | Hacker News Reader

Bitcoin does make the transaction publicly traceable. Either they have not realised that, seems unlikely, or they prefer it that way.

View on HN

It's not about traceability, it's about not having to use the dollar as currency.

I don’t know stuff but I feel I’ve learned that the Americans can make basic commerce unbelievably painful for whoever they choose through sanctions and disconnection from various financial systems.

That's significant messaging though -- we don't have anything to hide, down with the dollar.

I have read many comments that the regime wants to money launder the inflow. Bitcoin would be rather inconvenient for that.

What would be a reason to money launder the inflow?!?

I have no clue.

Oh they are well aware and using bitcoin for years. Nobitex is an Iranian exchange and they have been processing billions using crypto networks:

https://www.reuters.com/investigations/how-trumps-crypto-ven...

What difference does it make?

> Bitcoin does make the transaction publicly traceable

It can be untraceable with CashFusion

I read that as coldfusion and I got some ptsd

No, that doesn't work with Bitcoin, it only works with a fork of Bitcoin that has less than 0.5% of the value of Bitcoin.

Value doesn't have anything to do with utility

In this case it does. You can't funnel huge amounts through a coin with usually small volume and market cap and expect any sense of anonymity or privacy. The delta makes it obvious. It would probably be visible via movements on markets too.

For smaller amounts this is not a problem for the same coin and network.

Your volume might support $10k but not $10m.

Take a look at the statistics: https://fusionstats.redteam.cash/

What of it?

You are not responding to the debunking of your "Value doesn't have anything to do with utility" claim.

The only relevant thing I can see here is that yes, the volume is too low to provide any sense of untracability for the scenario discussed. It might for paying your VPN subscription.

> What of it? Sort by value and see for yourself

> You are not responding to the debunking Opinions don't debunk. Proof does.

I mean, kind of. If I give you an address to use to send me money, and I don't tell anyone else that address, and you don't tell anyone else that address, then nobody else can be sure who is behind the transaction.

Reply on news.ycombinator.com