Comment on U.S. Government Removes Tornado Cash Sanctions

Mubelotix@jlai.lu ⁨11⁩ ⁨months⁩ ago

• Alphane_Moon@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Do you have any evidence to back this up?

  It’s reasonable to assume that the vast majority of their throughput is used for crime.

  The overwhelming majority of people do not leverage crypto in any way. Even crypto promoters almost exclusively focus on speculation.

  And you do not need the payment for your order of bell peppers and toilet paper to be private. Let’s be real here.

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  • dhork@lemmy.world ⁨11⁩ ⁨months⁩ ago

    I’ve used crypto for legitimate transactions in the past. It bailed me out once, big time, when I had to top up a foreign SIM card while abroad and their website wouldn’t take ny US credit card. I found a site selling top-up codes that took crypto and sent some from my phone, and I was back in business. But this was back when people were still using it to transact.

    The worst thing that ever happened to law-abiding people using crypto was when it’s price zoomed up. Because for all those early adopters, every individual transaction now has a considerble capital gain attached. That’s why people don’t spend crypto anymore, because it’s been turned by the market into a Store of Value. (And by developers, but that’s a different thread).

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    • Alphane_Moon@lemmy.world ⁨11⁩ ⁨months⁩ ago

      This is not a serious example in terms of scale and market share.

      My point stands,

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      • dhork@lemmy.world ⁨11⁩ ⁨months⁩ ago

        Well, nothing anyone says is going to convince you, because you’re obviously correct. How silly of me to question you!

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  • sugar_in_your_tea@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

    And you do not need the payment for your order of bell peppers and toilet paper to be private.

    Yes I do.

    Just because you don’t value your privacy doesn’t mean nobody does. It’s none of the government’s business what I buy, nor is it my bank’s. They’ll need to find another way to catch criminals than forcing me to be transparent about what brand of condoms I like.

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    • Alphane_Moon@lemmy.world ⁨11⁩ ⁨months⁩ ago

      You debasing the notion of privacy and government spying if you think your toilet paper purchases are relevant in the context of this discussion.

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      • sugar_in_your_tea@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

        It absolutely is relevant.

        The government shouldn’t be able to know whether I’m buying toilet paper, ammunition, or anti-government books. There should be no way to track purchases to me unless I opt-in and provide it (e.g. register a warranty or something). They don’t need to know both sides of any transaction to enforce any law, because that would be a violation of my 4th amendment rights (or whatever privacy/anti-search laws you have in your country).

        I happen to not commit crimes, generally speaking, but that’s completely irrelevant to the discussion about whether my purchases should be in the clear. Ideally, everywhere would accept some form of privacy-oriented cryptocurrency, like Monero. How money gets from me to the vendor is completely unimportant to law enforcement, all they need is a record of transactions for tax purposes, and there’s nothing stopping the store from tracking that in the same way they do cash.

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      • Bakkoda@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

        Tell me you don’t understand privacy without telling us you don’t understand privacy.

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  • Mubelotix@jlai.lu ⁨11⁩ ⁨months⁩ ago

    I have my own experience. Didn’t want people I transacted with to know how much I had, so I had to use some kind of mixer eventually

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    • Alphane_Moon@lemmy.world ⁨11⁩ ⁨months⁩ ago

      Ridiculous example.

      This is not an issue for any transaction. When I send my friend money from my bank account, they don’t know how much is on it.

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      • dhork@lemmy.world ⁨11⁩ ⁨months⁩ ago

        No, but if the US government sends money into your bank account, they can just as easily take it back.

        forbes.com/…/trump-administration-takes-back-80-m…

        Crypto was designed to be a peer-to-peer method for immutable transactions. Crypto transactions are irreversible, even for governments.

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      • Mubelotix@jlai.lu ⁨11⁩ ⁨months⁩ ago

        We are not talking about your bank account, we are talking about public transactions on public ledgers

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  • WhyJiffie@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

    And you do not need the payment for your order of bell peppers and toilet paper to be private. Let’s be real here.

    the zcash method really doesn’t work. because then when you want to pay for something legitimate privately, that’ll immediately be “suspicious” and you know who will be knocking on the door soon.

    I do want to pay for bell peppers and toilet paper privately and everyone deserves to be able to do so, for similar reasons why I want to keep my youtube watch history private, even from google, and why am I using a pseudonymous forum.
    that’s why I almost exclusively use cash too. fuck the cashless society.

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