0 sats \ 0 replies \ @frostdragon OP 7 Aug 2023 \ parent \ on: Privacy is important, but bitcoin doesn’t help bitcoin
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"very new stuff" is why the jury is still out. Just needs more time, and we need to get to a point where new features aren't continually being added. Each new addition is a new thing that could go wrong... Don't get me wrong, it's all very promising. It just hasn't quite stood the test of time yet, and that's important for something that's supposed to be a global solution.
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No place in the developed world is off fiat yet either, and globalization reigns at the moment. I'm not saying large companies and transactions will happen via bartering, I'm saying on the individual level, in local communities, if people want to keep their transactions private, the easiest way to do that will be some form of non-digital transaction. It's hard for us to imagine that in the world we live in, but so it bitcoin in general. There's no underestimating how it's going to displace everything.
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Some services are being more digitized, but others are pushing the market further offline. Music is a good example - since music has become digital, live music is where the real money is. Building a following in person, at shows, is what's highly recommended in the music industry. Digitizing medicine, so far, is a terrible idea so far. It's been a HIPAA nightmare. Telehealth platforms are literally selling PHI to Facebook.
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Yeah, most of those solutions include keeping your private keys from touching the internet. That's exactly my point.
Privacy = sharing private information with a trusted party, while keeping it hidden from others.
When you're thinking through privacy, think about how many trust barriers there are between you and the person you want to share private information with. Over the internet, there are a lot of barriers and even individuals you have to trust to be competent enough to write code securely and have enough integrity to keep your data locked down. Unfortunately the insane hustle culture we live in doesn't exactly incentivize that kind of thing. I think that'll change as consequences get worse and as more people realize the insane state cyber security is in, but I think it'll also push people to spend less of their lives on the internet.
Just a theory. I appreciate the thoughts and criticism, truly.