201–210 of 394 posts
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My fear with strongly anonymous DeFi is indirectly harming the environment and supporting crime. Sadly doesn't look like Monero resolve these concerns.
That's like being worried about using the Internet in 1995 because of indirectly supporting porn. Remember, the Internet is only useful for porn and cat pictures, right?
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 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.
When you develop a value exchange that is perfectly designed for facilitating human kidnappings and subverting international sanctions, you should not be surprised when other humans decide they value institutions over this level of personal privacy. The narrative that this type of value exchange will protect people is as easily argued that it will put others at risk. We have institutions for a reason, and nobody livi…
Well, paper money is also used for crime. In fact, illegal uses of paper currency are so common, U.S. authorities commonly seize cash from civilians deemed to be carrying too much of it! In light of this - I think it's rational to remove paper currency from circulation and to move to a digital system where every transaction is tracked to a real person. This could be as simple as using existing banking structures, or…
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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.
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Well, paper money is also used for crime. In fact, illegal uses of paper currency are so common, U.S. authorities commonly seize cash from civilians deemed to be carrying too much of it! In light of this - I think it's rational to remove paper currency from circulation and to move to a digital system where every transaction is tracked to a real person. This could be as simple as using existing banking structures, or…
Paper money is much, much more difficult to use for crime than cryptocurrencies.
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Rule of law & democracy began when people had far more privacy than today. The founding motivations for the USA included resisting privacy abuses like 'general warrants' – the state peeking into everyone's business, without specific suspicion, to find criminals. The modern level of financial surveillance – KYC, etc – is only a few decades old, and collects more info for the state than any 'general warrant' could. Eve…
I don't quite follow your logic. The parent comment pointed out that obfuscating financial transactions makes it hard to enforce laws. You responded by saying Monero improves privacy. That might be true, but it doesn't really address the concern about illegal/harmful activity that a current like Monero would enable. I do agree that financial surveillance is an issue, but I'm not sure Monero is the best way to curtail…
Technology such as atomic swaps mean privacy coins will never be killed by legislation. The best we can do is outlaw their use by the honest, relegating them only to the blackmarket (which is precisely the place you didn't want them in the first place).
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Do you search out stocks that have a stable price?
The same qualities that make a stock or asset desirable (appreciation) make for a bad currency. The expectation of wild appreciation discourages transaction and encourages hoarding. This is one of the the reasons why (low) target inflation rates exist. The (slight) devaluation of the currency encourages consumption or investment with the currency and discourages mattress stuffing. You wouldn't buy goods with stocks.
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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.
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