@thejohnnycrypto
Open your banking app and hand the phone to whoever is sitting closest to you.
Most people will not. What you bought, where, and when is a fairly complete portrait of a life.
In the US a bank must file a form on you for any cash move over ten thousand dollars. That line was set in 1970 and never adjusted for inflation, so in today's money it sits near eighty three thousand. Banks filed 21.5 million of those reports in fiscal 2025.
Payment privacy gets argued as a product question: should this system add a privacy option? Framed that way, the person who wants privacy carries the burden. Make it the default and the burden moves.
Against me: these records do help investigators unwind fraud and trafficking, and a privacy default makes that slower.
What would show me wrong: access widened, fraud and violent crime falling for years, nobody extorted or cut off from banking over what their records said.
Bitcoin gets no exemption. Its ledger, the public list of every payment on it, is open to anyone who looks.
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