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The only good use for crypto

 
Anonymous Coward
User ID: 80561593
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07/03/2022 12:46 PM
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The only good use for crypto
If you ever want to renounce your US citizenship, the value of all your assets is added up and you are taxed on them before you leave. Uncle $cam's way of saying goodbye.

The only benefit to crypto I can see would be liquidating every traceable asset you own and placing it on a wallet on a USB drive, only to exchange that for real money in your new country.
Anonymous Coward
User ID: 75953087
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07/03/2022 12:48 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
RealViceLord

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07/03/2022 01:02 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087




Actually, you can. But you’re too simple to know anything about something like Monero. Poof.
By HIS Grace Alone.
Anonymous Coward
User ID: 83030292
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07/03/2022 01:05 PM
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Re: The only good use for crypto
Crypto can cross borders without permission or confiscation. It can be done so without holding anything physical on your body until you reach a more favorable destination.


BuT wHaT aBoUt WhEn ThEy tUrN oFf ThE LiGhTs?
Crypto-Tard

User ID: 78144147
United States
07/03/2022 01:53 PM

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Re: The only good use for crypto
If you ever want to renounce your US citizenship, the value of all your assets is added up and you are taxed on them before you leave. Uncle $cam's way of saying goodbye.

The only benefit to crypto I can see would be liquidating every traceable asset you own and placing it on a wallet on a USB drive, only to exchange that for real money in your new country.
 Quoting: Anonymous Coward 80561593


And you don't think all the top blockchains are not completely monitored?

They have thousands of trap nodes for BTC alone.

That private network (name baned here) you think you are hiding behind is a joke, they know exactly where you are, your IP, time/date stamp, etc. It's a cryptographically secure immutable record proof of your tax scamming transaction.

alcapone
When you are afraid of losing your life, you have already lost your life.

Don't be afraid.
Anonymous Coward
User ID: 79301643
Canada
07/03/2022 01:57 PM
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Re: The only good use for crypto
crypto is still a thing?
Anonymous Coward
User ID: 75953087
United States
07/03/2022 02:10 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087




Actually, you can. But you’re too simple to know anything about something like Monero. Poof.
 Quoting: RealViceLord



I dont trust its privacy. That is why I didnt mention it. We are in an age of Quantum computers.
Anonymous Coward
User ID: 75953087
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07/03/2022 02:12 PM
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Re: The only good use for crypto
crypto is still a thing?
 Quoting: Anonymous Coward 79301643


Crypto is going to become the best form of money that mankind has ever invented. Better than all the types that we have used before. From all the dumb things like Sea Shell, carved sticks to todays paper fiat notes.

Crypto money cannot be Counterfeited.

Think of it like a Digital Gold. The value of it can be split into tiny fractions and send around the world in an instant. This is why its gonna be the best money.


Money is backed by Trust. And soon Central banks around the world are gonna be the ones to give us Central Bank Digital Currencies. Its all happening right now.
Anonymous Coward
User ID: 75216955
United States
07/03/2022 02:28 PM
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Re: The only good use for crypto
Crypto is traceable dumbass
Anonymous Coward
User ID: 82281965
United States
07/03/2022 02:31 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087




Actually, you can. But you’re too simple to know anything about something like Monero. Poof.
 Quoting: RealViceLord


Ok you're both wrong. First, just because everything is trackable doesn't mean anyone knows who owns your wallet. The only thing that is trackable is crypto moving on the blockchain. Blockchains don't store any personal information so there's nothing tying anyone to a particular wallet. So its not "trackable in that sense".

Secondly, Monero doesn't work. Researchers have shown since 2018 that Monero's privacy is broken.

"Monero Privacy Protections Aren't as Strong as They Seem : The Dark Web’s Favorite Currency Is Less Untraceable Than It Seems"

[link to www.wired.com (secure)]
Anonymous Coward
User ID: 69107928
Canada
07/03/2022 02:57 PM
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Re: The only good use for crypto
crypto is still a thing?
 Quoting: Anonymous Coward 79301643


Crypto is going to become the best form of money that mankind has ever invented. Better than all the types that we have used before. From all the dumb things like Sea Shell, carved sticks to todays paper fiat notes.

Crypto money cannot be Counterfeited.

Think of it like a Digital Gold. The value of it can be split into tiny fractions and send around the world in an instant. This is why its gonna be the best money.


Money is backed by Trust. And soon Central banks around the world are gonna be the ones to give us Central Bank Digital Currencies. Its all happening right now.

 Quoting: Anonymous Coward 75953087


i understand your theory.

however as a master electrician who can provide heat, pumps, light, ill decide what payment will be, not the person who requires heat pump and lights.
otherwise they can sit in the cold stinky dark.
Anonymous Coward
User ID: 79438319
United States
07/03/2022 03:17 PM
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Re: The only good use for crypto
Not all crypto is traceable

Monero and Pirate Chain are 2 cryptos that have complete blockchain anonymity

No one can see transactions on the blockchain except the 2 parties involved

100% private

OP is correct about how to make your assets invisible if you use Pirate Chain or Monero
Anonymous Coward
User ID: 82281965
United States
07/03/2022 03:19 PM
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Re: The only good use for crypto
Not all crypto is traceable

Monero and Pirate Chain are 2 cryptos that have complete blockchain anonymity

No one can see transactions on the blockchain except the 2 parties involved

100% private

OP is correct about how to make your assets invisible if you use Pirate Chain or Monero
 Quoting: Anonymous Coward 79438319


Monero is traceable and has been for years. Blockchains are only traceable ON THE BLOCKCHAIN. They don't tack owners or track ip addresses. Monero is based on a false understanding of how blockchains work. And even still, monero itself is trackable. It only has an anon set of 11. ZCash has much higher anon set (in the billions). Monero doesn't work no matter how much you guys ignore the truth.
1776 2.0

User ID: 78344427
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07/03/2022 03:20 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087


Yes, you can.. you can send from one exchange(then wait 1-2 hours for it to goto their CEX wallet), then to another, to another, then to a cold wallet or use monero and avoid all the fee's.
SovereignProtector
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User ID: 82281965
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07/03/2022 03:26 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087


Yes, you can.. you can send from one exchange(then wait 1-2 hours for it to goto their CEX wallet), then to another, to another, then to a cold wallet or use monero and avoid all the fee's.
 Quoting: 1776 2.0


I guess you guys are just going to keep ignoring the truth? That's fine, but people can see that you're scared to talk about the fact that Monero has already been traced and has been traceable for years. That doesn't inspire confidence that you're telling the truth. In fact, it strongly suggests you're lying on purpose.
Anonymous Coward
User ID: 76152980
Sweden
07/03/2022 03:36 PM
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Re: The only good use for crypto
Not all crypto is traceable

Monero and Pirate Chain are 2 cryptos that have complete blockchain anonymity

No one can see transactions on the blockchain except the 2 parties involved

100% private

OP is correct about how to make your assets invisible if you use Pirate Chain or Monero
 Quoting: Anonymous Coward 79438319


Monero is traceable and has been for years. Blockchains are only traceable ON THE BLOCKCHAIN. They don't tack owners or track ip addresses. Monero is based on a false understanding of how blockchains work. And even still, monero itself is trackable. It only has an anon set of 11. ZCash has much higher anon set (in the billions). Monero doesn't work no matter how much you guys ignore the truth.
 Quoting: Anonymous Coward 82281965


horseshit

the Monero is trackable rumor has been repeatedly debunked

Pirate chain has an anon set of 100, and NO transaction amounts or sender/receiver is visible on the blockchain

read and learn:
www.pirate.black
Anonymous Coward
User ID: 82281965
United States
07/03/2022 03:38 PM
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Re: The only good use for crypto
Not all crypto is traceable

Monero and Pirate Chain are 2 cryptos that have complete blockchain anonymity

No one can see transactions on the blockchain except the 2 parties involved

100% private

OP is correct about how to make your assets invisible if you use Pirate Chain or Monero
 Quoting: Anonymous Coward 79438319


Monero is traceable and has been for years. Blockchains are only traceable ON THE BLOCKCHAIN. They don't tack owners or track ip addresses. Monero is based on a false understanding of how blockchains work. And even still, monero itself is trackable. It only has an anon set of 11. ZCash has much higher anon set (in the billions). Monero doesn't work no matter how much you guys ignore the truth.
 Quoting: Anonymous Coward 82281965


horseshit

the Monero is trackable rumor has been repeatedly debunked

Pirate chain has an anon set of 100, and NO transaction amounts or sender/receiver is visible on the blockchain

read and learn:
www.pirate.black
 Quoting: Anonymous Coward 76152980


Bullshit

Monero being trackable has NEVER been debunked. Do you have any sources? I've already posted one research article that showed that monero was broken 3 different ways since it was released. It wasn't "fixed" until 2018 and in the article they admit it was only a partial fix.

Pirate chain has an anon set of 100? Well monero only has one of 11 and the privacy bugs basically turn that 11 into an anon set of 4. You're wrong and have no sources, you're just spouting bullshit because Monero doesn't do what it says it does.
Anonymous Coward
User ID: 82281965
United States
07/03/2022 03:40 PM
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Re: The only good use for crypto
[link to coingeek.com (secure)]

An article from 2020 shows that Monero's traceability has NEVER been fixed. Its only gotten worse, in fact. The IRS and homeland security have paid for tracing tools on Monero, and since Monero has such a tiny anon set, its easy for them.

You Monero pushers are not only ignorant, but stubbornly so. That's how you get yourself and others in trouble.

Monero is traceable using new CipherTrace tool
BUSINESS 3 SEPTEMBER 2020

Patrick Thompson
CipherTrace has become the first company in the world with the ability to trace Monero (XMR) transactions.

“Monero (XMR) is one of the most privacy-oriented cryptocurrencies,” said Dave Jevans, CEO of CipherTrace. “Our research and development team worked for a year on developing techniques for providing financial investigators with analysis tools. There is much work still to be done, but CipherTrace is proud to announce the world’s first Monero tracing capability. We are grateful for the support of the Department of Homeland Security’s Science & Technology Directorate on this project.”

The U.S. Department of Homeland Security contracted with CipherTrace for a total of $3.6 million—with $2.4 million already paid—to create the Monero tracing tool.

CipherTrace’s tool will allow its users to track stolen Monero or identify Monero used in illicit transactions and notifies digital currency exchanges when an individual is trying to send the privacy-centric coin from illicit sources to their exchanges.
 Quoting: article
Anonymous Coward
User ID: 77245395
Finland
07/03/2022 03:42 PM
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Re: The only good use for crypto
whoops, Pirate Chain has an anonymity set of 982,652

Definitely the most anonymous crypto in existence

forget Monero and Z Cash

[link to anonset.dexstats.info (secure)]
Anonymous Coward
User ID: 82281965
United States
07/03/2022 03:43 PM
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Re: The only good use for crypto
whoops, Pirate Chain has an anonymity set of 982,652

Definitely the most anonymous crypto in existence

forget Monero and Z Cash

[link to anonset.dexstats.info (secure)]
 Quoting: Anonymous Coward 77245395


ZCash's anon set is over 1 billion. DASH coinjoin at 16 rounds has an anon set of 42 million.
Anonymous Coward
User ID: 77245395
Finland
07/03/2022 03:44 PM
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Re: The only good use for crypto
[link to coingeek.com (secure)]

An article from 2020 shows that Monero's traceability has NEVER been fixed. Its only gotten worse, in fact. The IRS and homeland security have paid for tracing tools on Monero, and since Monero has such a tiny anon set, its easy for them.

You Monero pushers are not only ignorant, but stubbornly so. That's how you get yourself and others in trouble.

Monero is traceable using new CipherTrace tool
BUSINESS 3 SEPTEMBER 2020

Patrick Thompson
CipherTrace has become the first company in the world with the ability to trace Monero (XMR) transactions.

“Monero (XMR) is one of the most privacy-oriented cryptocurrencies,” said Dave Jevans, CEO of CipherTrace. “Our research and development team worked for a year on developing techniques for providing financial investigators with analysis tools. There is much work still to be done, but CipherTrace is proud to announce the world’s first Monero tracing capability. We are grateful for the support of the Department of Homeland Security’s Science & Technology Directorate on this project.”

The U.S. Department of Homeland Security contracted with CipherTrace for a total of $3.6 million—with $2.4 million already paid—to create the Monero tracing tool.

CipherTrace’s tool will allow its users to track stolen Monero or identify Monero used in illicit transactions and notifies digital currency exchanges when an individual is trying to send the privacy-centric coin from illicit sources to their exchanges.
 Quoting: article

 Quoting: Anonymous Coward 82281965


then how come 'cypher trace' isn't being used to do this?

that stuff came out years ago and nothing has happened

Monero just chugs along...anonymously
Anonymous Coward
User ID: 82281965
United States
07/03/2022 03:46 PM
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Re: The only good use for crypto
[link to coingeek.com (secure)]

An article from 2020 shows that Monero's traceability has NEVER been fixed. Its only gotten worse, in fact. The IRS and homeland security have paid for tracing tools on Monero, and since Monero has such a tiny anon set, its easy for them.

You Monero pushers are not only ignorant, but stubbornly so. That's how you get yourself and others in trouble.

Monero is traceable using new CipherTrace tool
BUSINESS 3 SEPTEMBER 2020

Patrick Thompson
CipherTrace has become the first company in the world with the ability to trace Monero (XMR) transactions.

“Monero (XMR) is one of the most privacy-oriented cryptocurrencies,” said Dave Jevans, CEO of CipherTrace. “Our research and development team worked for a year on developing techniques for providing financial investigators with analysis tools. There is much work still to be done, but CipherTrace is proud to announce the world’s first Monero tracing capability. We are grateful for the support of the Department of Homeland Security’s Science & Technology Directorate on this project.”

The U.S. Department of Homeland Security contracted with CipherTrace for a total of $3.6 million—with $2.4 million already paid—to create the Monero tracing tool.

CipherTrace’s tool will allow its users to track stolen Monero or identify Monero used in illicit transactions and notifies digital currency exchanges when an individual is trying to send the privacy-centric coin from illicit sources to their exchanges.
 Quoting: article

 Quoting: Anonymous Coward 82281965


then how come 'cypher trace' isn't being used to do this?

that stuff came out years ago and nothing has happened

Monero just chugs along...anonymously
 Quoting: Anonymous Coward 77245395


How do you know that? For people who are supposedly invested in privacy coins you guys sure are idiots. You just presume something is true even though you have a mountain of evidence that it is false. You put your safety and the safety of others at risk, for what? To promote a "privacy coin" with an anon set of only 11? There are better options out there and you just doggedly stick your head in the sand and support the weakest most traceable one. How much are they paying you??
Anonymous Coward
User ID: 82659173
United States
07/03/2022 03:47 PM
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Re: The only good use for crypto
Renting OP’s mom
Anonymous Coward
User ID: 82024592
United States
07/03/2022 05:22 PM
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Re: The only good use for crypto
whoops, Pirate Chain has an anonymity set of 982,652

Definitely the most anonymous crypto in existence

forget Monero and Z Cash

[link to anonset.dexstats.info (secure)]
 Quoting: Anonymous Coward 77245395


ZCash's anon set is over 1 billion. DASH coinjoin at 16 rounds has an anon set of 42 million.
 Quoting: Anonymous Coward 82281965


Zcash shielded anonset is 300k, zcash is 90% transparent at best. [link to anonset.dexstats.info (secure)]

Coinjoin isnt private.
Anonymous Coward
User ID: 82281965
United States
07/03/2022 06:01 PM
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Re: The only good use for crypto
whoops, Pirate Chain has an anonymity set of 982,652

Definitely the most anonymous crypto in existence

forget Monero and Z Cash

[link to anonset.dexstats.info (secure)]
 Quoting: Anonymous Coward 77245395


ZCash's anon set is over 1 billion. DASH coinjoin at 16 rounds has an anon set of 42 million.
 Quoting: Anonymous Coward 82281965


Zcash shielded anonset is 300k, zcash is 90% transparent at best. [link to anonset.dexstats.info (secure)]

Coinjoin isnt private.
 Quoting: Anonymous Coward 82024592


Nah, the mathematical maximum for ZCash's anon set is over 1 billion, they state it themselves. Coinjoin is a technique. That technique removes the links coins have between each other, so yeah it is private. And if you're going to talk about anon sets, with Monero you can't just report the highest number, the tracing attacks reduce Monero's anon set from 11 to around 4, which means other coins are much more private. Its Monero that isn't private.
Anonymous Coward
User ID: 82281965
United States
07/03/2022 06:07 PM
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Re: The only good use for crypto
In the graphic on this page they show that "Zerocash" has an anonymity set size of 2^32 or 4,294,967,296.

[link to kuroguo.github.io (secure)]
Anonymous Coward
User ID: 83788538
07/03/2022 06:07 PM
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Re: The only good use for crypto
Nope, that wont work. Everything is trackable on the blockchain. That is one of the best things about it. You cant hide your criminal moves. That goes for everybody on the blockchain. It makes for a more fair system of money.
 Quoting: Anonymous Coward 75953087


Except criminals make up less than 1/10th of 1% of crypto users. So that pathetic markup you attempt is only for idiots.


The point is to have the ability to do exactly what OP said without being penalized for making life choices. You use existing systems to the best advantage as long as it doesn't get anyone hurt or stop anybody else from doing what they need to get by. It the system is in place it can be used


In the future there's a goal to have everything everywhere as part of the same individual system, but right now we live in a Renaissance of opportunity across the globe.


Stop being a dick who doesn't want this renaissance to continue. If that's what you want to be still then your hate will be stomped on when the time comes.
TerraFirma's Esoterrorist

User ID: 80593904
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07/03/2022 06:22 PM
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Re: The only good use for crypto
Arguably the world's most self-dehydrating form of fiat.

illiquids

Last Edited by TerraFirma's Esoterrorist on 07/03/2022 06:23 PM
"Keep a weather eye to the chart on high and go home another way"

–James Taylor Never Die Young
Anonymous Coward
User ID: 82024592
United States
07/03/2022 06:24 PM
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Re: The only good use for crypto
whoops, Pirate Chain has an anonymity set of 982,652

Definitely the most anonymous crypto in existence

forget Monero and Z Cash

[link to anonset.dexstats.info (secure)]
 Quoting: Anonymous Coward 77245395


ZCash's anon set is over 1 billion. DASH coinjoin at 16 rounds has an anon set of 42 million.
 Quoting: Anonymous Coward 82281965


Zcash shielded anonset is 300k, zcash is 90% transparent at best. [link to anonset.dexstats.info (secure)]

Coinjoin isnt private.
 Quoting: Anonymous Coward 82024592


Nah, the mathematical maximum for ZCash's anon set is over 1 billion, they state it themselves. Coinjoin is a technique. That technique removes the links coins have between each other, so yeah it is private. And if you're going to talk about anon sets, with Monero you can't just report the highest number, the tracing attacks reduce Monero's anon set from 11 to around 4, which means other coins are much more private. Its Monero that isn't private.
 Quoting: Anonymous Coward 82281965

Maximum possible anonset /= current anonset. The link provided shows Zcash current anonset. It's likely that most dont even know what an anonset is, smh. [link to attackingzcash.com]

Zcash is a worse version of bitcoin, it's a transparent shitcoin, with terrible dev taxes and tokenomics.

I am not knowledgeable enough to talk about Monero as a whole.

In fact Hush has the highest anonset due to some clever coding that breaks down a transaction in smaller transactions to boost the anonset. [link to explorer.hush.land (secure)]

As for coinjoin, mixers or "privacy wallets" if it isnt private at the default level, it ain't private.

Afaic there are only 2 players in the privacy coin game. Monero and Pirate Chain. If Zec wouldnt have created a shitcoin, we wouldnt need Pirate Chain. Monero is older tech, that is working just fine. Pirate Chain has the superior tech at the moment.
Anonymous Coward
User ID: 82281965
United States
07/03/2022 06:48 PM
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Re: The only good use for crypto
...


ZCash's anon set is over 1 billion. DASH coinjoin at 16 rounds has an anon set of 42 million.
 Quoting: Anonymous Coward 82281965


Zcash shielded anonset is 300k, zcash is 90% transparent at best. [link to anonset.dexstats.info (secure)]

Coinjoin isnt private.
 Quoting: Anonymous Coward 82024592


Nah, the mathematical maximum for ZCash's anon set is over 1 billion, they state it themselves. Coinjoin is a technique. That technique removes the links coins have between each other, so yeah it is private. And if you're going to talk about anon sets, with Monero you can't just report the highest number, the tracing attacks reduce Monero's anon set from 11 to around 4, which means other coins are much more private. Its Monero that isn't private.
 Quoting: Anonymous Coward 82281965

Maximum possible anonset /= current anonset. The link provided shows Zcash current anonset. It's likely that most dont even know what an anonset is, smh. [link to attackingzcash.com]

Zcash is a worse version of bitcoin, it's a transparent shitcoin, with terrible dev taxes and tokenomics.

I am not knowledgeable enough to talk about Monero as a whole.

In fact Hush has the highest anonset due to some clever coding that breaks down a transaction in smaller transactions to boost the anonset. [link to explorer.hush.land (secure)]

As for coinjoin, mixers or "privacy wallets" if it isnt private at the default level, it ain't private.

Afaic there are only 2 players in the privacy coin game. Monero and Pirate Chain. If Zec wouldnt have created a shitcoin, we wouldnt need Pirate Chain. Monero is older tech, that is working just fine. Pirate Chain has the superior tech at the moment.
 Quoting: Anonymous Coward 82024592



Yeah that link is kina garbage? They concede that coins with larger anon sets are better than ones with smaller ones, but then claim that "monero is our biggest competition"...Monero only has an anon set of 11. And with traceability bugs that's down to like 4. So that's a pretty bogus link.

And max anon set is what you use to compare coins together. Its dishonest to compare "current anon set" of one coin to the max anon set of another. You have to compare like for like or your comparison is meaningless. So ZCash's max anon set is over 4 billion while Monero's is only 11. Nothing you've said has changed that fact.

You say its a "worse version of Bitcoin" but that's not true. Not true at all. First, Bitcoin is already very private. There is no data that ties any one user to their funds on the blockchain. Blockchain coins NEVER LEAVE the blockchain so its very private already. The only thing that is not so private is the transaction history. Coinjoins break this history by giving you brand new coins while maintaining your balance.

Privacy by default isn't necessary. In fact its harmful. With privacy by default you can't tell how many coins there are or if there have been any inflation bugs printing new coins out of nowhere. You sound dogmatic and religious about this which likely means that you're wrong or have a bad agenda. You want people to go to "either or" your two options while talking down other, arguably superior options. You sound like a priest trying to convince your "flock" (of sheep) to not be afraid of wolves.

Monero is a shitcoin. Its the only coin that is traceable, has been for years and has govt funded traceability tools. No other crypto has that. You ignore that because you're not being honest. Monero has the tiniest anon set size of any privacy coin. Again you ignore this. Coinjoin works fine, privacy by default is not the issue since all you need to do is remove your coins last known link to the blockchain. Coinjoin keeps your balance while giving you brand new coins, hence, private. You're either ignorant or deliberately misleading. In either case, nobody should listen to you and definitely shouldn't support the coins you do.
Anonymous Coward
User ID: 81471542
United Kingdom
07/03/2022 07:11 PM
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Re: The only good use for crypto
You guys arguing about XMR and ARRR are funny.

DERO homomorphic encryption ftw.





GLP