What reason are you referring to?
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ipitco@lemmy.super.ynh.fr 1 day ago
paying in crypto is nice for this reason
glimse@lemmy.world 1 day ago
JasonDJ@lemmy.zip 1 day ago
I imagine the part in the article where OPP destroyed the vps and cancelled the domain because he realized he paid for the vps with his credit card?
orclev@lemmy.world 1 day ago
Crypto is not anonymous, the entire concept of how it works is to be the worlds most public and distributed transaction ledger. It is more difficult to track than credit card transactions, but that’s a very big difference from being impossible to track. There have been multiple papers published at this point on how you can de-anonymize any crypto purchase.
People really need to get over this idea that using crypto to buy things makes you anonymous.
Allero@lemmy.today 1 day ago
Some crypto, like Monero, is anonymous. Bitcoin/Ethereum is not.
In any case, if you use anonymous crypto, make sure to first sent it to a wallet (preferably with a subaddress in case of Monero), and then send it elsewhere.
kaidezee@lemmy.ml 1 day ago
You know, except for Monero. Really sucks that real private anonymous internet money is getting pushed out of all places possible, while crap like Bitcoin freely exists.
ipitco@lemmy.super.ynh.fr 1 day ago
People really need to get over this idea that using crypto to buy things makes you anonymous.
And people should also know that there are privacy coins and mixers
surewhynotlem@lemmy.world 1 day ago
Exactly. That’s why you had to fill out all the KYC paperwork when you create your Bitcoin wallet.
Oh, you didn’t?
Crypto is not hidden, but it can be anonymous. You can’t hide that you got money from X account and spent it at Y account. But there’s no name tied to the transaction.
rottingleaf@lemmy.world 1 day ago
It’s not anonymous, it in fact exchanges everything else from real currencies’ good properties to be hard to control.
ipitco@lemmy.super.ynh.fr 1 day ago
Anonymous / private payments
glimse@lemmy.world 1 day ago
The whole point of the blockchain is it for it to be traceable, though. There’s only the illusion of anonymity with crypto
ipitco@lemmy.super.ynh.fr 1 day ago
That’s complete misinformation.
The point of blockchain is not to be traceable but not alterable or tamperable.
Some cryptocurrencies, like Monero, achieve high anonymity. While not perfect, good opsec will fix its flaws. Just like anything. That’s not the case with the majority of cryptocurrencies though, but saying anonymity is but an illusion is just false.
phoenixz@lemmy.ca 22 hours ago
Crypto is not a scam, it’s just plain stupid.
The entire idea behind it is what a third grader might come up with and think it’s a great idea. It’s not.
It literally requires every connected wallet to process the same transactions as everyone else. Can you imagine doing billions of transactions per day this way? It is extremely inefficient and yes, this is one of the reasons why even the relatively low amount of transactions that Bitcoin processes costs more electricity than a small modern country.
It’s in a way comparable to a cpu doing 6+7 in a single CPU cycle whilst AI needs to burn down a forest to answer the same question
Crypto is stupid.
I get what its trying to replace and i agree that the current system sucks as well for a long list of reasons, but crypto is NOT the solution. A fundamentally different system must be designed to be able to solve the issues that crypto is trying to solve
ipitco@lemmy.super.ynh.fr 13 hours ago
You don’t understand how crypto works it seems
It literally requires every connected wallet to process the same transactions as everyone else
That’s misleading. Your wallet scans blocks for transactions that goes to your wallet, but this is super fast for many cryptocurrencies. Wallets usually sync in seconds.
this is one of the reasons why even the relatively low amount of transactions that Bitcoin processes costs more electricity than a small modern country.
No. The main reason is block size and block emission period. Also, you’re completely forgetting the fact that non Proof Of Work cryptocurrencies exist, and have close to 0 electricity cost
The entire idea behind it is what a third grader might come up with and think it’s a great idea. It’s not.
If they do they’re pretty much a fucking genius for their age
WhyJiffie@sh.itjust.works 17 hours ago
It literally requires every connected wallet to process the same transactions as everyone else.
wat?
wallets don’t process any transactions other than yours. and eve then, wallets do the easy work.
Buske@lemmy.world 1 day ago
Too bad the rich control it now.
ipitco@lemmy.super.ynh.fr 1 day ago
If you mean through regulation, yes, partly
If you mean they hold most of it and thus have a total decision power, then I must disagree
kipo@lemm.ee 1 day ago
Crypto is a scam.
texasmonthly.com/…/ben-mckenzie-crypto-documentar…
ipitco@lemmy.super.ynh.fr 1 day ago
Breaking news! Criminals use crypto, and people get scammed. This happens as well with fiat, so that must surely mean fiat is a scam!
Flawless logic, really. You people impress me with your thinking.
GreenKnight23@lemmy.world 1 day ago
if you sell something for $1 at 10am your $1 still buys $1 at 10pm.
in crypto, it’s easily manipulated, and that’s by design. it’s a scam because the only people who have that control are the wealthy.
If I sell 1BT worth of something at 10am, it could be worth 2BT at 10pm, but it could also be worth .1BT equally.
the purpose of a Fiat currency is economic supremacy that is backed by the governing body and the economy that uses it.
tell me, what governing body or economy is crypto backed by?
ipitco@lemmy.super.ynh.fr 12 hours ago
This is untrue for pretty much everything, even fiat. Everything is a market. A good example of this: stocks.
Now this is just false. You’re just inventing fake facts here. You clearly know nothing of the history of crypto.
Uhh no? 1 BTC will always be 1 BTC. Its value compared to other assets will change though. And in that case it would have less value indeed. You’re just allergic to high variations and high risks assets. Stocks is exactly the same. Some assets vary more than others. Let me assure you the value of BTC will never do a +/-10x in a day
Emission (POW, POS…) (or total stock), demand and offer and perceived value, just like everything on earth?
phoenixz@lemmy.ca 22 hours ago
None of that is “by design” its just the result of an unstable system. Crypto sucks for a long list of different reasons.
Psythik@lemm.ee 17 hours ago
Don’t even bother. You’ll never get through to these drones.
ipitco@lemmy.super.ynh.fr 14 hours ago
Wtf are you talking about
Psythik@lemm.ee 17 hours ago
Your existence is a scam.