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EU to ban anonymous crypto accounts and privacy coins by 2027

cointelegraph.com

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Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#121

Post by cykros »

lawn wrote: post #91
sshine wrote: post #62

Earlier quoted context omitted.

The cost for a Bitcoin transaction today is $0.96. The lowest daily average cost per transaction in the last month was $0.81, and the highest was $2.52.

That's still expensive for cheap things. And what's worse is that it's impossible to reliably predict the correct fee to be able to get into the next block. This means that at any time if you're unlucky your payment might get stuck for hours, days or even weeks.

If you're buying cheap things with on-chain payments, it's a bit like sending a bank wire to Starbucks for your coffee.

Lightning exists for a reason. Comes with far more privacy too -- arguably even more than Monero, if done right.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#122

Post by cykros »

xyzal wrote: post #66

I wonder what benefit to society might having a shadow financial system bring? I can't think of any, except for financing entities operating outside lawful limits.

When you use "society" as a synonym for "the establishment" there probably isn't one.

Never did much care for Rousseau myself though, or the fascists and communists he spawned.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#123

Post by moltar »

tpm wrote: post #68
neiman wrote: post #46

I'm a foreigner living in the EU for many years, here's my 2 cents. For over a year, I was locked out of financial services due to my inability to pass KYC. The reason was that I had already left one country, but was still in the process of getting a residency visa in another. During the process, I'm allowed to live in this country, but I have no ability to prove it to any financial institutions. So, no wonder I'm bi…

> I'm allowed to live in this country, but I have no ability to prove it to any financial institutions. That is very strange, because you should be able to get a temporary residence certificate (whatever it's called in your respective country) and thus get an account with if not all then at least most banks.

Tell it to Portuguese banks. Run around forever.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#124

Post by tomhow »

7bit wrote: post #41
JoshTriplett wrote: post #16

Earlier quoted context omitted.

The EU's legislation has been decidedly mixed, and not an unalloyed good. Makes me wish there was a functional mechanism by which different jurisdictions could have an overall collaborative framework and experiment with different approaches without eventually deciding to force others to comply. I had some hope of the EU being that, but both the US and the EU have trended towards homogenization. I wonder if, in a hund…

[flagged]

> ROFL! Are you suggesting there is no framework? Do the basic research before spouting your propaganda!

Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes.

Comments should get more thoughtful and substantive, not less, as a topic gets more divisive.

When disagreeing, please reply to the argument instead of calling names. "That is idiotic; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3."

Please don't fulminate. Please don't sneer, including at the rest of the community.

https://news.ycombinator.com/newsguidelines.html

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#125

Post by mandmandam »

golbez9 wrote: post #97
koonsolo wrote: post #87

Earlier quoted context omitted.

Nano offers sub-second transactions at 0 cost.

Nano shills still exist?! LOL Those bags must be heavy

So weird.

It's like someone was saying, watermills are great because they can help you mill your flour. Someone else chimes in like, hey, you can actually just get a wind turbine or a solar panel now; it's way more efficient... And then you - a year old account with -1 karma - jump in saying, 'lol solar power shills still exist?!'.

Like... Who's the shill here? How much BTC is in your bag?

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#126

Post by mandmandam »

lawn wrote: post #94
koonsolo wrote: post #87

Earlier quoted context omitted.

Nano offers sub-second transactions at 0 cost.

Nano has a completely different security model though, and isn't nearly as secure/decentralized as Bitcoin/Litecoin/Monero and other standard POW based cryptocurrencies.

> isn't nearly as secure/decentralized as Bitcoin/Litecoin/Monero and other standard POW based cryptocurrencies.

That's not remotely true. Nano is up and running like 9 years now and has survived countless spam attacks. The last attacks have gone completely unnoticed except by people watching for them.

As a non-inflationary feeless currency it's inherently far more decentralized, and tends to decentralize over time.

Why on earth would POW be the standard when block lattice is better in literally every way? It's faster, safer, and 10x more efficient than a Visa transaction.

And then there's quantum resistance.

Why do people on a tech site full of 'smart' people let statements that wrong go unremarked. It's weird.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#127

Post by insane_dreamer »

beernet wrote: post #64
sshine wrote: post #62

Earlier quoted context omitted.

The cost for a Bitcoin transaction today is $0.96. The lowest daily average cost per transaction in the last month was $0.81, and the highest was $2.52.

Which is still quite a lot. Litecoin (among other alternatives) provides the exact same service for close to zero cost and at a better speed.

That's very cheap if you're sending money to someone in another country (and not within the EU).

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#129

Post by [deleted] »

plsbenice34 wrote: post #85
xyzal wrote: post #66

I wonder what benefit to society might having a shadow financial system bring? I can't think of any, except for financing entities operating outside lawful limits.

Hong Kong protestors were tracked by looking at their purchases of public transport tickets. Canada froze the bank accounts of those involved in protests also. Wikileaks had to rely on cryptocurrency for funding and donations could be tracked otherwise. From this I see a trend that shows it is critical for democracy, don't you?

[deleted]
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