What's your opinion on Monero?

[SilverClouds]

Are you using it? Is it usable (buying and cashing it out I mean)?

 

[Rem]

no & meh

 

[back2form]

No I don't use it, but heard like it's designed for anonymity and financial privacy.

 

[SilverClouds]

No I don't use it, but heard like it's designed for anonymity and financial privacy.

Exactly why I'm asking... I'm tired of all this KYC crap and not only because governments piss me off. Last time I tried to convert completely legal funds that I have all the documents for I think I got on a scam exchange and now they have my passport . So not only these motherfuckin governments want to destroy us all, kyc process itself is a security risk (how do I know I can trust financial institution at all?). Something to think about.

 

[Rem]

Exactly why I'm asking... I'm tired of all this KYC crap and not only because governments piss me off. Last time I tried to convert completely legal funds that I have all the documents for I think I got on a scam exchange and now they have my passport . So not only these motherfuckin governments want to destroy us all, kyc process itself is a security risk (how do I know I can trust financial institution at all?). Something to think about.

let me ask you
how badly do you need the money on person?
send it off to a non-KYC wallet that you own.
when you need it $ offline.
wash it then send it to a wallet affiliated to you. and only report those $$
funnel it thru ur fwends as a second layer before u too if u have fwends u can trust.
whatever can be brought via crypto will just drain that wallet not KYC'ed to you.

yes washing money is illegal
but so is tax evading lol

 

[SilverClouds]

but so is tax evading lol

Tax optimization is legal. If I wanted to just illegally evade I'd evade. I'm reading up on tax laws because I try to minimize my taxes legally. Of course taxman will want you to overpay lol.

 

[Zwielicht]

I have a bit of Monero. When I was first looking into crypto, I heard it was widely accepted and good for privacy, so it was one of the first ones I got.

As I found out later on, it’s not as widely accepted on the clear net as I was told.

 

[indianmojojojo]

I hold a small bag. Got it when it was down few years ago. It's actually gone up significantaly. But they are cracking down on XMR.

Now Exodus the wallet that it's currently being held has given 40 days to transfer to a different wallet as they will stop supporting this coin.

Best way around is swap it for USDT on a non-KYC platform. (10% fee).

But it's not the worth the hassle anymore

 

[polecat]

The idea was right or smart anonymous payments or anonymous crytpo but so many places don't accept it so it's more now like ticking timebomb if you got it I would try and sell it for a profit and get out case it turns as I think into someone no one will use anymore

 

[SilverClouds]

Yeah, I think nowadays governments/banks are forcing crazy KYC everywhere, bothering people that have multiple passports, etc. Very bad climate right now. For everything though, not only Monero. If that mass KYC crap continues they'll install camera in your bathroom eventually .

Anyone used https://retoswap.com/ or Cake wallet? I wonder how decentralized exchanges like RetoSwap and Bisq compare to 'normal' exchanges.

I'll be honest with you, with all that KYC the only good reason for crypto might be no chargebacks but other than that if it's not private anyway why use it at all and don't use bank transfers instead? What's the benefit?

 

[SirTop]

There's so much stuff I'd never heard of if it wasn't for you guys... I'm like the off-grid guy here

let me ask you
how badly do you need the money on person?
send it off to a non-KYC wallet that you own.
when you need it $ offline.
wash it then send it to a wallet affiliated to you. and only report those $$
funnel it thru ur fwends as a second layer before u too if u have fwends u can trust.
whatever can be brought via crypto will just drain that wallet not KYC'ed to you.

yes washing money is illegal
but so is tax evading lol

Better Call Saul Rem

 

[t2van]

I'll be honest with you, with all that KYC the only good reason for crypto might be no chargebacks but other than that if it's not private anyway why use it at all and don't use bank transfers instead? What's the benefit?

It was never going to be private or used in the way everyone started to talk about.

Most crypto assets all rely on the same kind of pyramid scheme if you ask me. Eventually if enough people cash out there will be people who will be stuck unable to get anything.

I don't think exchanges are regulated at all. So they could close and run away. Many have. Yeah you can go after them but people do get away with it...

There are things that are good for crypto making payments if there was a regulated way would mean sending money anywhere (large payments) would be quicker.

Crypto and that tho as for the point of the benefits . I think actual block chain I just don't think it's being leveraged enough or comoanies utilise it has more potential than crypto as a currency.