181–190 of 196 posts
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You can analyze the dust spend in transactions to deanonymize Monero users. You need to be processing a lot of transactions to do this, or have the ability to spy on the processing of a lot of transactions.
Even if someone could _see_ the transaction and identify the user behind the wallets, at least a crypto still prevents fund holding and transaction blocking.
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Even if someone could _see_ the transaction and identify the user behind the wallets, at least a crypto still prevents fund holding and transaction blocking.
Putting someone in jail is effectively fund holding and transaction blocking.
I'm not saying privacy isn't great, just that even without it, crypto is still useful. Privacy is absolutely an amazing force for freedom.
News like this is proof that cryptocurrencies like Monero are necessary. It’s proof (not that we needed any) that centralized finance does not have your best interests at heart, and they can and will abuse their power.
Decentralised currencies just open up a whole new can of worms. How do you reverse fraudulent transactions? What happens if your wallet is stolen? Who do you speak to when you need help setting up an account? On a macroeconomic level, it prevents the government from setting certain types of monetary policy that benefit the economy as a whole (although I may be biased there, as the Australian government bailed out the…
I think you meant deflation?
If you held Zimbabwe's currency then you became poor.
If you held BTC over the past 5 years you became rich.
These are two _very_ different scenarios.
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You have inflation and deflation mixed up.
You're right, I did get that backwards. The overall point about stability remains, though.
With BTC you don't have to worry about someone siphoning value from your currency. It's not just coincidence that BTC increases in value YOY. Bitcoiners call this 'number go up' technology.
When all central banks are tripping over themselves to devalue their currencies, BTC's value rises.
News like this is proof that cryptocurrencies like Monero are necessary. It’s proof (not that we needed any) that centralized finance does not have your best interests at heart, and they can and will abuse their power.
Decentralised currencies just open up a whole new can of worms. How do you reverse fraudulent transactions? What happens if your wallet is stolen? Who do you speak to when you need help setting up an account? On a macroeconomic level, it prevents the government from setting certain types of monetary policy that benefit the economy as a whole (although I may be biased there, as the Australian government bailed out the…
How was this bailout done? In the US, the bailout was done primarily by giving funds to over leveraged banks that had every right to collapse. CEOs took home record bonuses, and everyday citizen's lost their homes.
They tried to spin the story in the US as saving the economy too, but most people didn't fall for the obvious wealthy get wealthier, poor get poorer trick.
This actually birthed the Occupy Wall Street movement.
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Way back in 2011 they did this to me. My marketing agency had been running most of our customer payments through PayPal for several months, and we were growing fast. At some point they took the $50K we had in the account and froze it for 180 days with no recourse, claiming it was to protect against charge backs (despite us never having a single chargeback). I explained to them that if they didn't release the funds th…
> Been smooth sailing ever since Did you stay with Paypal after that? I'd have run for the hills.
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Decentralised currencies just open up a whole new can of worms. How do you reverse fraudulent transactions? What happens if your wallet is stolen? Who do you speak to when you need help setting up an account? On a macroeconomic level, it prevents the government from setting certain types of monetary policy that benefit the economy as a whole (although I may be biased there, as the Australian government bailed out the…
> Australian government bailed out the economy as a whole through economic stimulus in 2008 and prevented the spread of the GFC to here How was this bailout done? In the US, the bailout was done primarily by giving funds to over leveraged banks that had every right to collapse. CEOs took home record bonuses, and everyday citizen's lost their homes. They tried to spin the story in the US as saving the economy too, but…
Our economy had one quarter of negative growth but we recovered almost immediately.
The banks didn't get bailed out at all - they didn't need to be because the financial sector had strict regulations that prevented them from engaging in the systemic risk that ruined Europe and the US.
I'll never understand this community.
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There's hardly any such thing as interest in the US and there hasn't been for at least a decade. Besides, if that was their business it'd be in their S-1 and it isn't. (IIRC it says they keep customer funds in interest free accounts)
>IIRC it says they keep customer funds in interest free accounts exercise for the one's imagination - you come to a banker and say "i'm thinking about keeping with you an N billions of dollars, interest free. Any ideas?" (in mid-199x i did some work around large Russian municipal funds to be kept in banks, and what i saw helped develop my imagination :)