211–220 of 394 posts
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.
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Paper money is much, much more difficult to use for crime than cryptocurrencies.
Actually it is WAY easier to use paper money for crime than cryptocurrencies.
Kidding aside, I have zero clue what the actual adoption rate is for Monero in the seedy underworld of common criminality, so I can't really challenge anyone on this argument.
I can say if I were a criminal, I'd want to keep it as low tech as possible. Given how sophisticated computer forensics is, I don't think I'd be able to keep everything "clean", digitally speaking.
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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.
Will never fly because corporations will not adopt something that helps them pay more taxes.
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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…
This shows how little cryptocurrency users know about how governments collect taxes. The government doesn't go around checking people's bank accounts in order to get tax information. This would be terribly inefficient. What they do instead is pass laws that require employers to disclose how much they pay their employees and to collect taxes on their behalf, before the taxpayer even receives the money. Therefore priva…
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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…
This shows how little cryptocurrency users know about how governments collect taxes. The government doesn't go around checking people's bank accounts in order to get tax information. This would be terribly inefficient. What they do instead is pass laws that require employers to disclose how much they pay their employees and to collect taxes on their behalf, before the taxpayer even receives the money. Therefore priva…
Earlier quoted context omitted.
This shows how little cryptocurrency users know about how governments collect taxes. The government doesn't go around checking people's bank accounts in order to get tax information. This would be terribly inefficient. What they do instead is pass laws that require employers to disclose how much they pay their employees and to collect taxes on their behalf, before the taxpayer even receives the money. Therefore priva…
That’s an edge case for payroll taxes/income tax of employees. All other forms of taxation can be avoided by the common man.
Still has 21 minute transaction time: https://www.monero.how/how-long-do-monero-transactions-take
In contrast, "Algorand delivers the fastest finality possible thanks to its Pure Proof of Stake (PPoS) algorithm invented by MIT Professor Silvio Micali. The consensus mechanism doesn’t admit forks at all, which reduces the risk of micro forks to zero. The block creation time on Algorand is less than 5 seconds, and all transactions reach immediate finality." [0] And although Algorand doesn't include some of the more…
I used to hold Monero, my issue with it is that it's main use case of anonymity aids the anti-crypto story of crypto being used for money laundering or other illicit activities.
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
GNU Taler is trash as it has built in taxation. Something crypto tries to abolish as taxation is theft.