I don't think this is an unfounded concern. It's overstated in reach, but tracking transactions if a cryptocurrency were to gain widespread usage would very quickly become overwhelming from a storage perspective. You can trade physical paper money in an unrecorded way, you simply cannot do that with cryptocurrency. If you're suddenly replacing those transactions with virtual ones, there's suddenly a lot more data in play.
Furthermore, the addresses are a lot longer than normal bank accounts and are letters and numbers instead of just numbers--a lot more data to store.
I don't think this is an unfounded concern. It's overstated in reach, but tracking transactions if a cryptocurrency were to gain widespread usage would very quickly become overwhelming from a storage perspective. You can trade physical paper money in an unrecorded way, you simply cannot do that with cryptocurrency. If you're suddenly replacing those transactions with virtual ones, there's suddenly a lot more data in play.
Furthermore, the addresses are a lot longer than normal bank accounts and are letters and numbers instead of just numbers--a lot more data to store.
I don't think this is an unfounded concern. It's overstated in reach, but tracking transactions if a cryptocurrency were to gain widespread usage would very quickly become overwhelming from a storage perspective. You can trade physical paper money in an unrecorded way, you simply cannot do that with cryptocurrency. If you're suddenly replacing those transactions with virtual ones, there's suddenly a lot more data in play.
Furthermore, the addresses are a lot longer than normal bank accounts and are letters and numbers instead of just numbers--a lot more data to store.