Dark Wallet Will Make Bitcoin Accessible For All — Except the Feds

Daniel_Stuckey writes "The group, called UnSystem, are self-proclaimed crypto-anarchists led by Cody Wilson—who you may remember as the creator of the controversial 3D-printed gun. After getting himself in hot water with the government for making the digital files to print an unregulated weapon freely available on the internet, Wilson's now endeavoring to bring Bitcoin back to its anarchist roots. Like other Bitcoin wallets, you'll be able to store, send, and receive coins, and interact with block chain, the Bitcoin public ledger. But Dark Wallet will include extra protections to make sure transactions are secure, anonymous, and hard to trace—including a protocol called "trustless mixing" that combines users' coins together before encoding it into the ledger."

Comments

Re:Ignorant and Stupid

[sI4shd0rk]

Frankly, such a disposition on the part of the NSA is reasonable

I don't think government thugs harassing people is at all "reasonable."

Unless you use your real e-mail address

[F34nor]

Or use your real name in the Word file metadata that you attach... I love it when smart people do dumb things.

Re:Deceased owners

[wvmarle]

This dividing in ever smaller units is not a solution, it doesn't increase the number of bitcoins in existence. It just means that the bitcoins that are still there increase in value - possibly rapidly - making it more interesting for people to hold them instead of spending them, amplifying the problem.

This until so many bitcoins are lost and being hoarded that there is not enough liquidity left to make it a viable currency.

Re:Deceased owners

[ultranova]

It just means that the bitcoins that are still there increase in value - possibly rapidly - making it more interesting for people to hold them instead of spending them, amplifying the problem.

Actually, I think Bitcoin has conclusively disproven this myth about deflation: even when Bitcoins were gaining hundreds of percents the economy get going as usual.

The concept of a deflationary spiral is based on a false assumption: specifically, that people prefer long-term gain over short-term one. That's simply not true. And it's pretty obviously untrue, since otherwise no one would buy a computer, pad or smartphone today since you can get a better one tomorrow - technology has a constant deflation, yet that doesn't seem to result in a halt to sales.

Mind you, this has a lot of implications outside of Bitcoin economy, too.