Monero absolutely is untraceable
Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'
Imgonnatrythis@sh.itjust.works 3 days agoIt’s not untraceable, but it’s way more anonymous for routine purchases than CC. Also with all the nonsense the CC companies are pulling lately, it’s a nice example of why de-centralized, unbanked fiat has real value. Personally I use it for search engine subscriptions and paying VPN fees with at least a layer of “hey, you can’t sell my demographic data or send me junk mail” privacy. Also if you want to send money to someone without using venmo type garbage, it’s super easy and flexible even if you don’t have the same type of crypto as the person you are sending to. It’s huge for sending money internationally as there are big fees associated with international money brokers when involving traditional fiat.
The mantra of crypto as a scam is wrong. It’s just seriously overvalued and has been turned into scam as an investment commodity. The technology itself, at least modern scalable versions that don’t require AI level nuclear power plants to scale, is not flawed. The fact that the archiac unscalable bitcoin prototype is still the most valued is a great example of the mismatch between real world value and the fucked up crypto marketplace.
prole@lemmy.blahaj.zone 3 days ago
rottingleaf@lemmy.world 3 days ago
So. Which one would you advise? To use for the purposes described.
NotMyOldRedditName@lemmy.world 3 days ago
I’d use ethereum with a USDC token for anything that didn’t need to be ethereum specifically. Then you’re not subject to the volatility of the crypto itself, but still gain the ability to pay for things or transfer money globally.
cadekat@pawb.social 3 days ago
The fact that scams persist on blockchain is an unfortunate side effect of the whole uncensorable thing…