Cryptocurrency is synonymous with anonymity. We can send/receive cryptocurrencies to and from anyone in the world, without knowing who they are.
Some people see this as a positive, other (business) people see it as a negative thing. Then again, having your personal details out there, along with your credit card information, has proven to be very insecure too.
So is it better to share as few details about you as possible? Perhaps. But cryptocurrency already solves most of those problems.
Pretty much anyone can trace a transaction back to it’s origin wallet address. While this may or may not lead to much, it’s still something we have to be aware of.
But what if even those tracebacks would be impossible? What if you could send cryptocurrency to anyone in the world, without anyone ever finding out where it was sent from? Wouldn’t that be great?
A double-edged sword, definitely. But it opens a few new perspectives too, and, well, it’s cool, on paper. However, it isn’t possible yet! Or is it….?
FedoraCoin(TIPS) announced today that a new feature will be added to their client, called “Coin Mixing”. No, this has nothing to do with being a DJ.
Coin Mixing allows you to mix up the coins you send to someone and make their origin completely untraceable. While that may sound very high-tech, and very unlikely, to most of you, it really isn’t.
We all know that cryptocurrency is being looked at by pretty much any government in the world. Perhaps not to regulate it, but possibly to derail the whole nature of cryptocurrency.