reply on: Let's discuss El Salvador's Volcano 🌋Tokens. Here's ABSOLUTELY everything: \ stacker news ~bitcoin

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150 sats \ 0 replies \ @llamabyte 30 Jul 2023 \ parent \ on: Let's discuss El Salvador's Volcano 🌋Tokens. Here's ABSOLUTELY everything: bitcoin

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if millions were moving around on this site it would be highly regulated

you say without any evidence. I have evidence Billions are moving around with NO regulation. In a worst, trustless environment then investing in El Salvador.

This tech was created to persevere privacy and property rights for the individual not society at mass

Society is made up of individuals. You cannot show me "society" I can show you an individual. Removed from Society an individual still exists.

That’s the problem with pseudonyms one person can own 100 Bitcoin addresses across 100 private keys with a simple python script and easily create pump and dumps.

That does not matter when you are investing in Volcano Bonds. All that matters is that the government and the company pay back whatever the result of a bankrupcy proceeding is. If 100 accounts owned by one person pump ES bonds, it does not change the fundamentals of the project or the abilty to refund those accounts. Pump and dumps are only a concern for NON bitcoin shitcoins, annoymity is not. It's like saying a person can only own 1 oz of gold and if they own 3 they are pumping gold. It doesn't make sense to say that.

it still far away from being implemented in real institutions in the real world stuff that takes real skill like flying a plane

false

Government or not it’s the constant tug of war between safety and privacy thus have various degrees of tradeoffs.

yeah, the tradeoff is tracking funds, you advocated for the government having the ability to KYC individuals to prevent Crime. Which is Tracking. You don't even know what your are saying. That's ok but learn how and why bitcoin started.

If you don’t want to KYC for these volcano bonds then don’t. Those who do well it’s their life and their choice and they deserve what ever comes with that decision.

I agree, but you were stating that it was a necessity to pay back investors, it's not. You do not need KYC to pay back investors any more than you need to know the real names of a silent partner in a corporation. KYC creates a potential for harm down the road that does not need to exist. Like signing up for random online lotteries and wondering why your email and password are on a hackers database.