The Sweet Sound of Cash and Steempay
8 years ago in #steem by tracemayer (64)
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"One of the most effective ways to protect privacy is to use cash, Steem or Bitcoin for as many transactions as possible." - Exactly. We are also adding the Stealth features to BlockPay (which is already integrated with Bitcoin and Steem) for total anonymity (addresses and amounts).
Let's VANISH. Keep up the great posts Trace!
This is really awesome. I need to do some more research on BlockPay but it looks really promising. Thanks for the heads up. What a great use case for transferring Steam Dollars to other users. Like an inbox that has a slight hurdle to get into!
Here's some pertinent BlockPay links & info:
BitShares Munich (the parent co): http://BitShares-Munich.de
https://BlockPay.ch
https://steemit.com/@kencode
https://twitter.com/kenCode_de
http://youtube.com/BitSharesMunich-de
CEO/CFO Christoph Hering @chris4210
CMO Rodrigo Crespo @rodrigocrespo
Dev Team Lead Ken Code
Over 50 BlockPay Ambassadors in 28+ countries
5 products so far, 5 more on the way
I do not earn money, money earns a place in my life
Rather like that one, thanks.
Private transactions are possible and on the roadmap. Steemit will provide secure P2P messaging and the equivalent of crypto cash transactions.
The Harpold case is such a good one for demonstrating why privacy is important, even if you're doing nothing wrong. Though I guess the die-hard statists will just say "She shouldn't have broken the law!"
Thanks Trace.
I wouldn't think STEEM is particularly anonymous though. All transactions are visible.
I agree that Steem dollars are not particularly anonymous given that the Steem community seems to value people who do an introduce yourself post and verify their identity. That immediately ties the account to a person. Then Steem transactions can effectively be attributed to an offline identity.
Today on The Cryptoverse I covered why Monero has rocketed in price recently (a) because it's privacy centric and (b) because a couple of dark markets are adopting it.
That is true but Steem provides the ability to be used entirely anonymously, or at least with tremendous amounts of obfuscation if steps are taken.
For example, (1) exchange Steem for another alt-coin on Shapeshift, (2) move the alt-coin around and through different addresses and perhaps even alt-coins and (3) eventually convert back into Steem associated with your 'ghost account' that you access only through TOR.
Pretty easy actually. And it will probably only get easier as more financial innovation takes place like ring singatures, confidential transactions, Z-cash, etc. to create truly anonymous digital cash.
I don't use Tor but I do use TunnelBear
Big Brother is Always Watching...
Sure, but not everywhere and not all at once since it has priorities.
The root of the problem goes deeper than medium of exchange, it's government, lobbyists - taxes. Sure there's no need for government but today there's too much government and the fascism attached to it via the lobbyists and the result of taxes to pay for the fascism. Get rid of the lobbyists, lessen government or just get rid of it, make everyone accountable for they're own actions....... no taxes or low taxes. Basically get back to the constitution again. The pendulum swings back and forth over the centuries and we're at a cross road of too much government involvement leading to less involvement. Digital currencies will play a role, but will evolve. Unfortunately, usually with a bit a pain in the process.
I agree but unfortunately, it will probably only get worse before it gets better. Why? Because it can get a whole lot worse and it is really just not painful enough yet for the average person. Just look at Venezuela to see how much people will take.
Ya...... I hate to think about it. But something similar to Venezuela around the world will probably occur before the elites let go of their reign of power and then the cycle can start all over again..... by the way, you do great work .
Again you did good job. Thanks from my heart
If blockchain tech incorporates an open ledger along with being decentralized, then it has great potential to change our perspective on how money works and how we should use it, provided it catches on enough of course. I don't think money being totally private is a good thing.
I actually wondered if there is a CPA that would weigh in on how to do taxes for those who are treating steemit as a job. If you are not taking money out, then I would be forced to believe that it is similar to the stock market, where you don't pay on anything until you have fiat gains. (I'm not an expert, but this makes sense to me)
Also what business expenses can we write off? Travel, lunches with people you are collaborating with. Necessary hardware/computer/cell phone.
I'm mostly interested in the US tax but other countries may wish for help too.
I feel that the security of credit cards is ridiculous. My mom (not tech savvy) could take a photograph of a credit card, use a vpn and buy a product online and have it shipped somewhere where she knows nobody and go and pick it up. And to have the cvv on the back of the card? So foolish.
I'd love two factor authentication for credit cards so in addition to swiping your card, you'd get sent a random pin sent to your phone to enter to verify your transaction.
I've had identity theft and it sucks and it's very easy to do. It boggles my mind at the lack of security attached to the cards we use almost daily.
The only thing I dislike about cryptocurrency is the fear you may send money to the wrong address and lose a large sum forever. Or forgetting/losing your password. Those two problems need to be solved before I see crypto being widely accepted.
Great article @tracemayer. I have been listening to and reading a lot of your work as of late.