Privacy

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Does GNU Taler provide all the privacy benefits of crypto without any drawbacks? (taler.net)

submitted 1 month ago by [email protected] to c/[email protected]

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[–] [email protected] 15 points 1 month ago* (last edited 1 month ago) (2 children)

We have a fight about Taler every few weeks.

I'll summarize:

Positives

Centralized, no bad people doing bad things
Fast, because its centralized
Doesn't use proof of work, because its centralized
No currency conversion, because its centralized it can stay in Fiat

Cons

Centralized, if the central authority thinks you or your business is bad your shit out of luck
Discoverable, the Central authority has all the information to deconstruct all activity (yes they do, no really, they do)
Not actually private
A solution looking for a problem

Fight amongst yourselves repeating the above points.

If you care about privacy you will use Monero, if you care about centralization you will use whatever your local bank transfer system is.

[–] [email protected] 7 points 1 month ago (1 children)

Taler is not centralised. I think you are thinking of CBDC?

Taler could be described as semi-centralized at best. You are free to chose your exchange and you can easily use multiple the same time. It really isn't that different to crypto-currencies in that regard if you consider the need of fiat exchanges for real world use there as well.

[–] [email protected] 1 points 1 month ago (1 children)

Sure, I agree with that...

Taler is like a decentralized protocol where every transaction has to be tied to a fully KYCed CEX. (Know your customer, central exchange/bank).

[–] [email protected] 2 points 1 month ago

That's not quite how Taler works. Yes, the exchange will know when you generate Taker tokens from fiat, but that is similar to going to an ATM and getting cash. Afterwards the exchange has no means to track what you spend the tokens on.

[–] [email protected] 4 points 1 month ago

I should note, there are cryptocurrencies that also don't use proof of work. Ethereum, the second-largest, switched away from proof of work two and a half years ago.