Permisonless means that I can send money to you, and no third party can stop that transaction.
I switched to buying things online to exclusively in crypto after fighting too many times with banks blocking my purchases. That literally cannot happen with crypto. If I send money to someone, they get it 100% of the time. That’s by-design. It’s permissionless. And transactions cannot be reversed.
I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.
A ledger run by a state isn’t going to be permissionless. That defeats the point.
Remind me what permissionless means in the context of crypto? Is that related to using BTC for tolls?
My point is The Silk Road proves holding BTC isn’t appropriate for evading US authorities
Permisonless means that I can send money to you, and no third party can stop that transaction.
I switched to buying things online to exclusively in crypto after fighting too many times with banks blocking my purchases. That literally cannot happen with crypto. If I send money to someone, they get it 100% of the time. That’s by-design. It’s permissionless. And transactions cannot be reversed.
I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.