Comment on Crypto mogul Do Kwon, known as ‘the cryptocurrency king,’ pleads guilty to fraud charges

• Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

  It’s a 3rd use case.

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  • Alphane_Moon@lemmy.world ⁨1⁩ ⁨month⁩ ago

    No, it’s not a viable use case.

    Developers of such games what the broadest market possible and consumers want easy accessibility and stable updates/support.

    The groups outlined above are interested in the product and not promotion of some cryptocurrency.

    Both these goals are best served using real currencies, not monero. Such payment systems (using real currency, aimed at content with erotica/porn) are widely available and haven in use for 30+ years.

    If you don’t want to deal with such payment systems directly (e.g. setup an LLC and other such matters), there are multiple easy to implement distribution approaches that one can launch in ~15 minutes.

    This is why I don’t trust crypto promoters.

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

      You would use real currencies for everything except the transfer. The consumer only sees USD. The provider swaps back to Fiat as soon as necessary.

      The use case is enabling payment over the Internet while avoiding traditional, censoring providers.

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      • hark@lemmy.world ⁨1⁩ ⁨month⁩ ago

        Couldn’t those transactions be cut off at those swapping points to fiat? I assume if a bank doesn’t support a business directly transferring funds for a particular purpose then they’d take issue with indirectly transferring funds for the same purpose and would work to close those accounts.

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      • Alphane_Moon@lemmy.world ⁨1⁩ ⁨month⁩ ago

        This does not make sense.

        What you’re saying is that it’s impossible to buy porn/erotica online without monero. This is clearly wrong.

        You most definitely could do that before blockchains were a thing.

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