Attendee Question: Bitcoin seems to be primarily the space of thieves to collect their loot. Bitcoin transactions are untraceable. There is no track of ownership visible. Transactions are not transparent. What happened to authentication & identity?
Answer (Toufi Saliba): I’m glad you used “seems” The truth needs to be told. Bitcoin was designed to reduce corruption. It is definitely used by thieves but not only thieves. Thieves also use oxygen when they breath, that doesn’t make oxygen bad. Bitcoin transactions are traceable. The track of ownership is not visible, same as exiting banks or your pockets, not visible. Transactions are transparent, unlike bank accounts. Authentication is necessary, identity is a one way stream. If you are the owner of an account you can claim it, the account can not claim you.