News for hackers. Stuff that matters.

A comment on Why Monero. Parent comment

Re:Why Monero by lottin on Tuesday September 14, 2021 @04:08AM (#28521711)
All income that you receive from or is routed through an institution will be handled in the same way. This likely includes interest, dividends and capital gains as well. Then there's VAT which is also collected by businesses on behalf of the government.
[ Parent | on HN ]
Re:Why Monero by tifik on Tuesday September 14, 2021 @06:17AM (#28522561)
Exactly. Crypto largely removes the need for institutions, and with anonymous wallets it would be very difficult to link a specific person to one.

Edit: I am again talking about capital gains. Yes, the money has to come from somewhere, but you can break the traceability easily by using non-kyc means of getting crypto. E.g. bitcoin ATMs.

[ Parent | on HN ]
Re:Why Monero by lottin on Tuesday September 14, 2021 @07:38AM (#28523170)
A bitcoin ATM is an interface with an institution that is selling/dispensing dollars, so you're still dealing with an institution.
[ Parent | on HN ]
Re:Why Monero by SpaghettiCthulu on Tuesday September 14, 2021 @03:03PM (#28529383)
Yeah, but you don't need a bitcoin ATM. The grocery store could accept monero and there would be no need for fiat currency.
[ Parent | on HN ]
Re:Why Monero by lottin on Wednesday September 15, 2021 @05:50AM (#28537150)
Sure, and if pigs could fly, there would be no need for helicopters.
[ Parent | on HN ]