What is your opinion on anonymous #cryptocurrencies? Yay or Nay? Please leave your opinion in the comments! 😀
@privacytools @purism
@gandalf86 @privacytools @purism I like monero. It's really big achievement for humanity. I believe privacy is fundamental right and no one should be allowed to spy on our financial transactions.
Though regulators really have a problem with this. And I understand that. I'd love to solve this problem but not at the expense of our freedom and privacy.
I believe if law enforcement can get a warrant from court and then ask the person to show their transactions is one good idea.
@ParmuTownley Yep that's a good idea. That also guarantees that private transactions can only be viewed with a warrant court, which is how it should be!
How do you think about proof of work though? I think Monero is using PoW which is pretty bad for the environment. 😕
@gandalf86 PoW has its disadvantages but it also truly works. PoS is also good but there's one disadvantage that gets unnoticed, that is people keep their funds in custodial exchanges. Which allows exchanges to take users funds and stake that and become validators.
Energy usage of PoW is bad. Though remember energy usage isn't bad. Energy generation from non renewable is. So it depends how the energy used to mine was generated. It's good if it's more solar. Bad if not.
@ParmuTownley Well people should not store their coins on exchanges, then the problem is solved. 😉 Due to our financial system greedy people will always use the cheapest source of energy for mining, so unless we have global emission trading enforced in all countries, PoW will be bad.
