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Originally Posted by BlackCrayon
well it will 'fail' to be what all the hypers claim it will be if its just used for anon sending. like i've said before, no one needs anonymous transactions except people doing shady shit. i love paypal and use it daily but i don't see the benefits of using bitcoin over it. i don't need it to be anon. i don't need it to be non reversible. while there may be no fees in sending bitcoins in order to buy them it costs money, time and you lose the anonymity with all the verification.
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this goes to the evolution of experimental tech, the anonymity wasn't really part of the original experiment, from the white paper
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What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.
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the anonymity is simply a part of the solution to the above problem:
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Conclusion
We have proposed a system for electronic transactions without relying on trust. We started with
the usual framework of coins made from digital signatures, which provides strong control of
ownership, but is incomplete without a way to prevent double-spending. To solve this, we
proposed a peer-to-peer network using proof-of-work to record a public history of transactions
that quickly becomes computationally impractical for an attacker to change if honest nodes
control a majority of CPU power. The network is robust in its unstructured simplicity. Nodes
work all at once with little coordination. They do not need to be identified, since messages are
not routed to any particular place and only need to be delivered on a best effort basis. Nodes can
leave and rejoin the network at will, accepting the proof-of-work chain as proof of what
happened while they were gone. They vote with their CPU power, expressing their acceptance of
valid blocks by working on extending them and rejecting invalid blocks by refusing to work on
them. Any needed rules and incentives can be enforced with this consensus mechanism
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http://bitcoin.org/bitcoin.pdf