Your coinbase bitcoin was used to purchase marijuana on Silk Road, sent to Mt. Gox, stolen in a $500 million dollar heist, funneled through localbitcoins, and now you ‘own’ it.
The history of your transactions on the bitcoin blockchain is perfectly and eternally preserved for everybody to review.
Deterministic wallet explorers, SPV bloom filters, chain analysis– there is a growing list of tools used to account for you and your bitcoin. While bitcoin remains censorship resistant, there is a growing list of custody hashes being passed around detailing the history of stolen, tainted, and underworld bitcoins.
I’ve always wondered what the average twenty dollar bill sees in its lifetime. Through the bitcoin blockchain, you can watch in real time the business of billions of dollars. It doesn’t take a warrant to track your bank account, all it takes is the network.
Enter Monero. A usable, always on, obfuscated blockchain. I’m bullish on fungible money.