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They are. Monero and other privacy coins have features built in. But the ability for anyone to generate addresses anywhere adds for some level of privacy. The o
by doggosphere 6y ago
They are. Monero and other privacy coins have features built in. But the ability for anyone to generate addresses anywhere adds for some level of privacy. The only way to identify the owner of an address is to have concrete information linking a person to an address.
- NicoJuicy 6y agoSo, when you are actually using it, then your privacy is revealed ( since you'll use that "anonymous" ledger to convert to USD/Eur). Every cloud application for doing this literally requires you to send your ID to them.
- Forbo 6y agoOne could mine it directly and never involve KYC. Or they could use a coin that has privacy features built-in, such that once it leaves the exchange they no long know what was done with it. There are also decentralized exchanges.
- NicoJuicy 6y agoYou're suggesting to mine a bitcoin, which has a pretty big difficult rate by now or to join a cloud miner. Either way, you're arguments don't make any sense anno 2020. I'd rather trust my bank, that is regulated than some anonymous thing on the internet.
- Forbo 6y agoI've mined a few Moneroj just casually using my desktop PC. Makes for a good space heater in the winter time. Depending on it as a sole source of income, no. But it's not impossible to obtain cryptocurrency from mining in 2020.
- Forbo 6y agoPseudonymity is not the same as anonymity. Coin tracing companies exist because of this. Unless the currency itself has numerous privacy mitigations built in (a la Monero), it's only going to keep casual observers from knowing. I compare most cryptocurrencies' observability to common household locks. They aren't keeping real thieves out. They just keep honest people honest.