Damus
m0wer profile picture
m0wer
@m0wer
Would it be better if Bitcoin was "completely confidential"?

Let's skip the "shitcoins" debate. Would it be better if Bitcoin was "completely confidential" ™️?

Assuming it was like that from the beginning and that we had certainty of no inflation bugs being possible. Lots of hypotheticals, but to center the debate around full confidentiality vs. the state.

The idea comes from https://stacker.news/items/1571256/r/m0wer. The thought behind it is whether "privacy" coins are a bad idea because they become a clear target for the state or actually the opposite because they "force" people to opt-out. Maybe there are many other considerations.

The question is, if you had a magic wand and could make Bitcoin have been completely confidential from the beginning without bugs, would you?

https://stacker.news/items/1571269
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hoppe2 · 3d
I also left a comment there — beyond privacy and the risk of state attacks, there's one more thing worth weighing, and it's why I voted no: scalability, or maybe more precisely how easy it is to build a layer 2. It isn't mathematically proven, but looking at the tech we have so far, getting scalab...