We trust companies with our information every day. But many companies—even those that hold our most revealing information—are using it not just to provide the services we ask for, but to amp up their profits at the cost of our privacy.That's why EFF has joined a campaign, led by the U.S. Public...
A wise man once said “cash is king”
Although that brings up a point on how reliant we are on the banks, but a private crypto currency like monero is not yet ready for mass adoption.
I use it to pay for VPN and stuff, works pretty well IMO. There’s potential scaling issues if too many people use it, but you can get around those by using XMR to privately purchase a different cryptocurrency with higher throughput. Tornado Cash was pretty cool too before they made using it a felony.
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I think you can get it with a credit card through the Cake Wallet app by buying a different crypto first and then swapping for XMR, this is probably the most user friendly way, though I can’t personally confirm. You can buy it directly on Kraken, though the account setup is some effort. Here is a curated list of reputable ways to acquire, trade and use crypto without KYC, if not providing personal info is a priority for you.
I don’t think it’s actually that terrible for privacy to get it initially with KYC, because all they will know is that you purchased $X of crypto, so it’s comparable to withdrawing cash from a bank.
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Already, I see a lot of stigma around cryptocurrency. I don’t know if it’ll ever take off thanks to stuff like NFTs ruining it.
Monero will never be ready for mass adoption. The problem is that it is primary used for illegal transations. Its effectively tainted in my eyes
Is cash tainted for the same reason? I think when a currency is good for commiting crime, it is an indication that the currency is well designed.
Cash isn’t used for crime nearly as much
So much cash is used for drug deals that it literally helps to shape our (USA) economy.
It is a stereotype here that if someone has a lot of cash, they are either drug dealers or sex workers.
Hoo boy do I have some news for you.
Same argument can be said for encryption LMAO
Not really
But you actually don’t know what monero is being used for when it’s used in transactions, no one does. You just have a bias that if people want to keep their transactions secret, it must be illegal.
You could make the same argument for cash.
It’s a little harder to lug around millions in cash without anyone noticing.
Not all secret transactions are illegal, but the people who are doing illegal transactions will do anything they can to keep them secret.
Not really. At the time cash was created it was simply for exchanging value, because we didn’t have anything better. It’s just legacy currency now.
Most of the people using Monero are drug lords are foreign counties. You can get similar privacy with cash and it doesn’t have the same crime issue.
I also mentioned taler because it provides privacy for the spender but not the receiver. The idea is that there will be less ways to effectively take dark money while protecting the rights of the consumer
Anything that is private is going to be used for illegal transactions. That is not Monero’s fault. If you want it to be used for less illegal transactions, then use it for legal transactions yourself. I personally use it to pay for my life insurance, groceries, phone bill, etc. And as far as I’m aware, none of those are illegal transactions.