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Reality of So-Called ‘Crypto-Currencies’
by Karl Denninger Market-Ticker.org
Read this (sorry about the archive link, but the source is paywalled.)
Authorities hadn’t yet mastered how to track people and groups hidden behind blockchain wallet addresses, the series of letters and numbers used to anonymously send and receive cryptocurrency. One elemental feature of the system was the privacy it gave users.
That’s a lie.
A very popular lie but a lie nonetheless. I pointed it out at the time and its very important because it formed the entire basis on which this sector of so-called “digital assets” were built, marketed, sold and used and it was maliciously false and known so from inception.
Every single person involved in creating these things knows it too; indeed, without that “feature” all of them are trivially counterfeited and thus worthless.