The question is pretty much the one in the title. I wonder if SafeCoins transactions are/are gonna be traceable or it may be used by criminals for laundrying.
One of the core features of the SAFE Network will be complete anonymity. Yes, Safecoins will be untraceable and will be useful for both, decent people and criminals.
It could be declared illegal then, if so, do you think it will harm the whole structure? Or it’s gonna be used anyway?
@kael000 one of the good things about physical cash is that it’s completely untraceable, you pay someone in cash for fixing your bike, two days later they use that cash to buy a few beers at their local bar, the owner uses that cash to pay their staff and eventually it gets used to buy groceries. At any of these moments in time, was it important that it wasn’t possible to trace exactly where each individual penny came from?
Physical money, like SAFE, is untraceable, but that hasn’t yet resulted in it being made illegal.
@Shane this is a good point, but I’m going into this because I’m guessing one of the advantages of ripple (for example) is that authorities can trace all the transactions. So traceability could be of help in the coin’s diffusion, considering that some countries could ban cryptocurrencies as in south korea plans. But again, yours is a good point of course
I see what you’re saying, but I think that what you’re proposing is antithetical to the stated goals of Maidsafe - one of the main reasons to use the Safe Network is that it’s untraceable, encrypting all traffic by default and splitting it up in to thousands of individual packets.
The main idea behind SAFE is that everyone should be able to communicate with everyone, sharing information regardless of where you are in the world and what your beliefs are, in my opinion adding any form of tracking would make Safenet useless for it’s main purpose.
The network (and coin valuation) will grow as people come to trust SAFE, trying to rush to a massive valuation or level of government acceptance would be damaging for both network performance and usefulness.
SAFENetwork will do lots of things the authorities don’t like. Anonymous movement of data in general is something they dislike, as they can’t monitor and censor it.
SAFENetwork at its core is about anonymity, security and privacy. If you are looking for a government pleasing technology, I would look elsewhere.
And just when governments think they have won the war against physical cash, along comes the Safecoin to spoil their plans to confiscate your money.
This is the whole reason why I got interested in this project several years ago.
I think we are foolish to think that there won’t be bridges to the open net, and at sometimes it will be useful. I was thinking therefore that we’ll probably need at least 2 IDs. One that stays 100% on the inside and one that communicates with the outside as necessary. I don’t do FB, Instagram etc but if there are Safe versions of these, I assume your anonymity would be breached anyway when you post a video of your dog farting, even if you can pull back what you publish.
People will definitely have to practice good social op sec for their anonymous account or sub accounts and avoid bridges but at least network security and anonymity will be iron clad. Good points.
Why is the tracing an advantage? hmm so regimes can stay in place… and this is why SAFE Network is being built to get rid of the systematic oppression Ripple promotes, Ripple IMNHO is the anti-christ of the crypto movement… lol R2
Truer words have never been spoken
The safe network will put privacy back where it belongs. With the user. Too many systems on the net now steal that privacy and encourage theft of your personal information. Safe will make identity theft for instance much harder if not impossible.