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Why Monero

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Re: Why Monero

#191

Post by tootahe45 »

kongin wrote: post #105
stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

The lack of cultists is the only reason why I'm even reading these articles. Now if only they could stabilize the price so you can pay for things instead of gamble on it.

This is why Monero will never work. Anonymity is defeated because i have to buy it when i want to use it, and sell as soon as i receive it. I can't just hold it in my offline wallet because I'd be speculating on the price.

Re: Why Monero

#192

Post by bb88 »

SXX wrote: post #188
bb88 wrote: post #176

Earlier quoted context omitted.

> I'm not a money laundering expert. Then why are you regurgitating this uninformed vomit passing as currency expertise? You clearly don't understand how money laundering works with paper cash, and you think the only thing that matters is "cost".

Okay, now this is rude. We're on public forum here sharing our opinions. Mine are based on the fact that I do know how online criminals operate as well as how money laundering work in my country. I really can't speak about US and how FBI works, but again most of online criminals are not operate in the US.

I think what's dangerous frankly is when crypto "experts" try to claim something is when it ain't -- in a public forum.

You just can't make a claim and then say later, "But I'm not an expert."

Re: Why Monero

#193

Post by quantumBerry »

arcticbull wrote: post #137
SXX wrote: post #126

Earlier quoted context omitted.

Monero supports crime as much as cash supports crime. Doors and curtains also support crime, but somehow some basic privacy is fundamental human right. For now... Also in some countries police still don't just scan all your bank transactions 24/7 and there is presumption of innocence in criminal law.

This is a common trope, but incorrect. Cash is really hard to do crime with. You can't actually get any meaningful quantity of it without having a SAR or CTR filed on you (or the person obtaining it). It's big and bulky, it's uniquely numbered and traceable. You can't deposit any meaningful quantity without having a SAR or CTR filed. Converting it back into something digital, anonymously/untraceably requires launderi…

>You can't actually get any meaningful quantity of it without having a SAR or CTR filed on you (or the person obtaining it). It's big and bulky, it's uniquely numbered and traceable. You can't deposit any meaningful quantity without having a SAR or CTR filed.

I could pressure wash houses for $200 a house everyday and get 100k in less than 2 years. Or bartend, work as a waitress for a few years, whatever. There's plenty of ways people end up with large sums of cash without a SAR or CTR. Some individuals conceivably may pull 2-3k a month out of an ATM for a few years, why would that flag a SAR on you? See this guy, who [1] despite having a bank account had 87k seized by thieves in blue on the side of the road, who meticulously kept ATM statements for most all of it.

> your transactions are private until the court authorizes the police obtain them on the basis of probable cause

What is the court that signs an order, based on probable cause of a crime, for each cash transaction over 10,000? What is the court that orders, based on probable cause, a bank file a SAR when they are suspicious of your transactions. What is the court that signs an order, based on probable cause of a crime, that you declare foreign bank accounts with a combined value above $10k? Can you point me towards the warrants that have been issued for each of these transactions that show the probable cause?

What is the court order, on probable cause, that requires foreign banks to comply with FATCA for Americans abroad?

What is the court order, on probable cause, that requires money transmitters to collect KYC on customers regardless of there being any probable cause whatsoever of a crime?

The idea your transaction are private until ordered by a court is absolute hogwash.

[1] https://www.reviewjournal.com/crime/courts/nevada-troopers-t...

Re: Why Monero

#194

Post by ajkdhcb2 »

ryan_lane wrote: post #172
ajkdhcb2 wrote: post #158

Earlier quoted context omitted.

Unnecessary intermediaries should be removed. Especially intermediaries with a horrendous corruption track record that coerce you to let them hold your money. Money that can be printed at will by some people in power is also quite a joke; cryptocurrency provides a new unit of account in addition to a payment system.

Those intermediaries replace your money if it's fraudulently stolen, and have protections in place from allowing your accounts to be fully drained (and have ways to let you control those protections). For the vast majority of people, banks do more good in their lives than harm. Cryptocurrency isn't a bank. It's a virtual mattress to stuff your money into, and one that lends itself very well to torturing you until you…

All of those points seem invalid to me when you consider that people have the option for custodial multi-signature systems and time-delays etc. If you want certain behaviour you can do it, often without giving a corrupt organisation complete control over your money

Further, many people live in countries where the people simply cannot trust their institutions or the value of their currencies, to the point where they are better off storing USD under their mattress, so the technology should be there for those people

Re: Why Monero

#195

Post by sdze »

R0b0t1 wrote: post #181
sdze wrote: post #178

GNU Taler is (for Europeans at least) the most promising system, because it is controllable (at least on the merchant side). The users themself are anonymous, just like when using cash! That is a good system because it enables governments to still being able to tax businesses and control illegal activities. Such system will also gain more acceptance among the common folks. https://taler.net/en/index.html

The most promising? What do you mean? BTC and XMR already work and don't have the downsides of Taler. Usability could be improved for those, yes. Outside transparency is not a benefit. Most people I've talked to about crypto don't see the opacity as a detriment. They do not trust the government or tax policy. Most of these people are also generally happy to pay their taxes but can see reasons when they would want to…

Gnu Taler does not rely on a blockchain.

BTCs blockchain is rather power inefficient.

Re: Why Monero

#196

Post by quantumBerry »

arcticbull wrote: post #139
SXX wrote: post #136

Earlier quoted context omitted.

Money laundering just make it more expensive for criminals to get the profits. So does crypto due to ever moving exchange rates, comissions, etc. Also just want to remind you that the world doesn't end on US soil and once you moved cash to a different country this kind of tracking becomes more and more complicated.

How are you going to get huge quantities of cash across borders without anyone noticing? Even the Narcos know thats a bad plan, they used binders of gift cards.

Lol do you have any idea how porous the US-Mexico border is? Money can cross the same way 10s of thousands of kilos does, only traffic is even less scrutinized going south than it is going north.

Re: Why Monero

#197

Post by brabel »

sdze wrote: post #178

GNU Taler is (for Europeans at least) the most promising system, because it is controllable (at least on the merchant side). The users themself are anonymous, just like when using cash! That is a good system because it enables governments to still being able to tax businesses and control illegal activities. Such system will also gain more acceptance among the common folks. https://taler.net/en/index.html

A payment system that's not driven by a unicorn , is "libre", cannot be used by criminals because business payments are visible while customers are anonymous, and helps combat tax avoidance?!

Nah, will never fly.

Re: Why Monero

#198

Post by fieryskiff11 »

sub7 wrote: post #155

This, like the rest of crypto, enables the world's worst humans. Also, the founder (who loves telling people to stay poor online) is in jail for fraud. I'm shocked. I really hope Gensler and co sack up and shut down these wannabe pirate losers.

stay poor, pleb

Re: Why Monero

#199

Post by SXX »

bb88 wrote: post #192
SXX wrote: post #188

Earlier quoted context omitted.

Okay, now this is rude. We're on public forum here sharing our opinions. Mine are based on the fact that I do know how online criminals operate as well as how money laundering work in my country. I really can't speak about US and how FBI works, but again most of online criminals are not operate in the US.

I think what's dangerous frankly is when crypto "experts" try to claim something is when it ain't -- in a public forum. You just can't make a claim and then say later, "But I'm not an expert."

Whatever. Go forward with your witch hunt. I personally never use crypto myself, though do some contract development on Eth-powered projects.

As about money laundering your opinion is one of a person living in western country with working institutions and strong legal frameworks. Unfortunately this isn't the case in many places around the globe. There is tons of countries where everything is just a question of % you want to pay.

Re: Why Monero

#200

Post by numlock86 »

sdze wrote: post #195
R0b0t1 wrote: post #181

Earlier quoted context omitted.

The most promising? What do you mean? BTC and XMR already work and don't have the downsides of Taler. Usability could be improved for those, yes. Outside transparency is not a benefit. Most people I've talked to about crypto don't see the opacity as a detriment. They do not trust the government or tax policy. Most of these people are also generally happy to pay their taxes but can see reasons when they would want to…

Gnu Taler does not rely on a blockchain. BTCs blockchain is rather power inefficient.

> BTCs blockchain is rather power inefficient.

Pfff, a single transaction is only 1700kw/h (or 820kg of carbon dioxide) with as little as 90g of electrical waste left behind on average. From an economical standpoint that could be much more ... if you are to sell energy or equipment of course. /s

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