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Posts: 1,671 | Thanked: 11,478 times | Joined on Jun 2008 @ Warsaw, Poland
#29
Originally Posted by biketool View Post
I would only consider a FOSS cryptocurrency app where I could and HAD reviewed the code for phone home of my wallet details as otherwise I would suspect the app of being able to 'rob' me at any time by on command, time delayed, or randomly execute a transfer of my cryptocurrency to a wallet accessible to the devs. Remember that there are no take-backs or appeals with a transfer, it is P2P.
I also want to state for those who have been fed misinformation, the way blockchain works it is even less annon than transferring money bybank transfer, paypal, or or credit card; essentially it is like cash where every transaction and holder is indelibly recorded on the banknote/bill, announced over the radio, and recorded in a public almanac.
I would not be surprised to find that blockchain based pseudocurrencies were designed by an American three letter police or intelligence agency to have a way to track the flow of black money even when transfers were done offline.
Every app should have it's own sub-account of it's own separate from your regular money. You can do P2P or take-back systems if you design them to just fine - it's just another kind of token.

Albeit not that mobile capable yet (too much RAM requirements), https://z.cash/ is quite interesting technology.

Regarding the public ledger; https://en.wikipedia.org/wiki/Rai_stones were a interesting historical precedent.
 

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