Comment on Crypto mogul Do Kwon, known as ‘the cryptocurrency king,’ pleads guilty to fraud charges
sugar_in_your_tea@sh.itjust.works 8 hours agoHave you ever given an “under-the-table” payment for utilities?
Of course not, because I don’t live in an area that manipulates its currency, nor have I needed that level of privacy. I have, however, lived in an area where that type of thing was commonplace. I paid for rent, utilities, and groceries with cash, and you’d have to be incredibly naïve to believe that everyone paid taxes on that money. If I wanted to “go dark” there, I could’ve, all I’d need is a stash of cash.
If you want to live off the grid, you operate in untraceable arrangements, and that protects both you and the service provider.
My point here is that whether you can easily liquate the medium of exchange isn’t nearly as important as the benefits that medium provides. If you need the protections that privacy coins provide, both sides of the transaction will find a way to make it work.
I won’t go into an in-depth discussion around how you would be tracked
I wish you would, because then we’d have something to discuss.
I assume you’re talking about the $5 wrench idea (i.e. this xkcd), as in get people to rat out the dissidents. Or maybe you’re talking about hacking users devices, or some other side-channel attack (i.e. packet snooping). None of that has nothing to do with the medium of exchange, and there are ways to mitigate that risk.
My point is that Monero has uses today, and it can be more useful if people actually start trying to use it. I see it as similar to Tor, the more people use it, the safer it is for the people who truly need it.
Alphane_Moon@lemmy.world 3 hours ago
Where did I say I believe that everyone pays taxes? Why bring this random acquisition.
Ironic to be talking about going dark when posting via an internet connection.
This is a fantasy. With respect to specific transaction you can make anything work. You can dried fruit in such a transaction too. Doesn’t mean it’s viable to live purely via exchange of dried fruit.
I am not talking about what the xkcd comic alludes. I referring to the fact that a world exist outside of the monero blockchain and believe it or not, one has to interact with the real world.
Monero is a red herring. It is not simple to cash out monero and it provides a false sense of security.