RT @giacomozucco: Attacks & attempted sabotaged on Bitcoin, shitcoin & ICO shilling, insider trading, censoring users for political reasons...now anti-privacy/fungibility business. I wander what they could do at this point to appear more evil: start building the Death Star & killing puppies??? https://t.co/VOsrMgA5hi
How can you bring an open financial system to the world if you monitor users and provide their information to authorities? I respect what you’ve done to advance the industry, and I hope you’ll keep privacy as a core value. Congrats on the acquisition of Neutrino https://t.co/E6Og3zsRSb
RT @coinbase: Today we're announcing Coinbase has acquired Neutrino, a blockchain intelligence platform. Neutrino's technology is the best we've encountered, and will play an important role in legitimizing crypto, making it safer and more accessible for everyone. https://t.co/6gXcRvpEBM
I'd rather Coinbase own this technology than pretty much anyone else. Coin shuffling versus blockchain surveillance is destined to be a red queen race no matter what. They probably bought it to ensure the best crypto surveillance tech remains in the free market and doesn't become state property :)
How is it 1984? It’s just indexing and data analytics, which thousands of companies have been doing even before computers were invented.
The benefits they point out would be great for consumers:
- detecting theft of funds from peoples’ accounts
- investigating ransomware attacks
- identifying bad actors
If people want adoption, then we need protections implemented (just like they have for bank accounts and credit cards). People aren’t going to invest their life savings for it to be lost so easily.
As for “Satoshi’s vision,” you can still have your private crypto transactions. Coinbase is appealing to a mass audience. Both types of approaches can and will exist.