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points by iambateman 4 hours ago | 0 comments

What makes it make sense?

Cryptocurrencies that are transparent to government tracking are also transparent to whatever criminals want to beat you up and take everything from you.

Your usual non-crypto millinare likely have less money to steal on them than average grandma. Fiat millionare likely have two credit cards and $100 in a pocket. Or useless iPhone with Apple pay. So there is zero profit in trying to rob fiat millionare or billionare and tons of downsides.

And moving any amounts of transparent crypto over $100,000 just paints huge "rob me" target on your person.

[–] razodactyl 3 hours ago

https://xkcd.com/538/ I've never been so honoured to be able to link one of these.

[–] SXX 3 hours ago

That's classic, but whole point with Monero is that no one cant really tell who sent money and who get them.

It doesnt exactly solve on-ramp / off-ramp, but it hides very well how much you actually have in total.

With nornal crypto you create direct track from a CEX to every place where you spend the money.

[–] skinfaxi 3 hours ago

How would anyone know you have monero if it can't be linked to other transactions like bitcoin?

[–] jeremyjh 2 hours ago

They can't help but brag about it.

[–] privacyishuman 2 hours ago

I vaguely remember actually the number 1 and 2 "rule" of Monero to not say how much you have. We're lucky how dumb many cybercriminals are.

[–] y-curious 2 hours ago

It’s hardest to track so a lot of these heists go into Monero

[–] razodactyl 3 hours ago

Ironically that people use it to buy drugs. If it's anonymous, it's closer to the original intention of BitCoin: the masses of CPUs then GPUs can be considered a "paperclip moment" - runaway effects are real.