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Description
I had a rant about privacy coins and wanted to share this to see what people think, in their own individual circumstance about the real world application of private transactions, not limited to the blockchain.
The following rant was copy and paste from some online forum in a logical place.
The Rant
This topic is actually nearly a trigger to me at this point, I feel passionately about the necessity for private transactions as an option in a laisse-faire economy.
Transparency has always been an option, but if you have to disclose all this payment info to make any transactions, are you even in a free market anymore?
With the privacy coin triad between DASH, Monero and Zcash is one that needs to be explored IN DEPTH.
I do not want to use one of these coins, because if I am limited to 1 blockchain, it would be child's play for a surveillance state like China or the USA to use backdoors in the internet infrastructure to track and trace the nodes of that specific blockchain.
If you want to receive monero, it should not matter what currency I send, these intermediaries can all be automated for free, just the cost of the front end and domain development is the only reason the crypto swaps have fees. Once AI programs these hotswaps, autonomous across chain, we will not be limited to these tangential depictions of "what is a private transaction" and can truly embrace the real world application of send money privately across not only a chain, but a border.
Privacy empowers people to protect themselves, control their information and express themselves. Without private thoughts how can we even think or consider possibilities? Privacy is key to creative expression. Privacy is why you have locks on your door, to protect your person and property. Privacy is why we use a bank at all, to keep our money 'safe'. So without privacy, disclosing all the personal information of every transaction will open up security risks and power imbalances that will certainly result in more loss of personal freedom, in favour of 'regulation' stifling innovation.
well put, we have our own most intimate thoughts and self reflection in private too. I know some people who do not experience any form of affection for other humans if they are on camera or in sight, they call it PDA's Public Displays of Affection