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A non-sequitur. Monero is compliant with all FATF goals. The state has gotten used to surveillance of digital transactions over the past 50 years by deputizing

A non-sequitur. Monero is compliant with all FATF goals. The state has gotten used to surveillance of digital transactions over the past 50 years by deputizing financial institutions, this was a temporary convenience for them and now digital transactions don't require financial institutions, which is simply a reversion to a mean with a millenium of precedent. For now they can strongarm the intermediary as they havent even noticed that they’ve just been taking a convenience for granted, but the reality is pretty clear: the state will have to deter whichever activities they dont like by actually investigating and stopping that person as regulating/strongarming the intermediary wont be a tool they have anymore.

arcticbull 6y ago
Trust me the boundary between the shadow market and the real economy (where such systems would be illegal) is where the friction will always be and remain. Trade away, have fun, as soon as you try and convert to real money they’ll come down on you like the sword of Damocles fell. The only reason this isn’t more frictional is because the government has bigger things to worry about. They simply don’t care about you. The second that changes you’ll be trading in the digital equivalent of suitcases full of prepaid gift cards. This isn’t a new game lol, it’s been played to death and one side has a lot more experience than the other.
- vmception 6y ago
  That’s not the direction things are going. All of our representatives are bagholders now after being recipients of those thanksgiving day conversation and they are more aligned to increasing the utility instead of hampering it. You’re stuck in the wrong decade.
  - arcticbull 6y ago
    There is no utility that isn’t better achieved classically. When that changes I’ll join you on the other side, and won’t hamper my ability to earn money by investing in tilting at the windmills of decentralization - I prefer to approach technology beginning with a problem and looking for a solution as opposed to the opposite - but as always I wish you the best of luck. I’d suggest you’re in the wrong century, I’m thinking when Isaac Newton lost all his money in the south seas bubble. 1700s?
    - Judgmentality 6y ago
      > I’m thinking when Isaac Newton lost all his money in the south seas bubble. 1700s? I had never heard of this! https://royalsocietypublishing.org/doi/10.1098/rsnr.2018.0018 https://royalsocietypublishing.org/doi/10.1098/rsnr.2018.001...
      - arcticbull 6y ago
        There was a great quote of his too: “I can calculate the motions of the heavenly bodies, but not the madness of the people.”
    - vmception 6y ago
      > I prefer to approach technology beginning with a problem and looking for a solution as opposed to the opposite - but as always I wish you the best of luck. yeah we've been over this before, when a client outside the US wants to pay find me another way to convert an international wire transfer (high degree of delay including increased scrutiny) to a domestic wire transfer (low degree of delay, no scrutiny) that doesn't use a cryptocurrency network. the transaction fees alone of that one use case makes the native cryptocurrency scarce, even if that native cryptocurrency is not what was used to settle the transaction. and I've done inter-Europe transfers too, the SEPA system is not what its cracked up to be. It is even more fragmented, transactions between some combination of SEPA nations can take 2-5 business days just like the US ACH system. from what I know about this discussion is that each use case is its own conversation, so I randomly chose this one out of a hat.
      - arcticbull 6y ago
        ACH is dead, RTP is the future, it's real-time and practically free -- all without consuming an Argentina of power. Crazy, I know. [1] [1] https://www.theclearinghouse.org/payment-systems/rtp https://www.theclearinghouse.org/payment-systems/rtp

arcticbull 6y ago

Trust me the boundary between the shadow market and the real economy (where such systems would be illegal) is where the friction will always be and remain. Trade away, have fun, as soon as you try and convert to real money they’ll come down on you like the sword of Damocles fell. The only reason this isn’t more frictional is because the government has bigger things to worry about. They simply don’t care about you. The second that changes you’ll be trading in the digital equivalent of suitcases full of prepaid gift cards. This isn’t a new game lol, it’s been played to death and one side has a lot more experience than the other.

vmception 6y ago
That’s not the direction things are going. All of our representatives are bagholders now after being recipients of those thanksgiving day conversation and they are more aligned to increasing the utility instead of hampering it. You’re stuck in the wrong decade.
- arcticbull 6y ago
  There is no utility that isn’t better achieved classically. When that changes I’ll join you on the other side, and won’t hamper my ability to earn money by investing in tilting at the windmills of decentralization - I prefer to approach technology beginning with a problem and looking for a solution as opposed to the opposite - but as always I wish you the best of luck. I’d suggest you’re in the wrong century, I’m thinking when Isaac Newton lost all his money in the south seas bubble. 1700s?
  - Judgmentality 6y ago
    > I’m thinking when Isaac Newton lost all his money in the south seas bubble. 1700s? I had never heard of this! https://royalsocietypublishing.org/doi/10.1098/rsnr.2018.0018 https://royalsocietypublishing.org/doi/10.1098/rsnr.2018.001...
    - arcticbull 6y ago
      There was a great quote of his too: “I can calculate the motions of the heavenly bodies, but not the madness of the people.”
  - vmception 6y ago
    > I prefer to approach technology beginning with a problem and looking for a solution as opposed to the opposite - but as always I wish you the best of luck. yeah we've been over this before, when a client outside the US wants to pay find me another way to convert an international wire transfer (high degree of delay including increased scrutiny) to a domestic wire transfer (low degree of delay, no scrutiny) that doesn't use a cryptocurrency network. the transaction fees alone of that one use case makes the native cryptocurrency scarce, even if that native cryptocurrency is not what was used to settle the transaction. and I've done inter-Europe transfers too, the SEPA system is not what its cracked up to be. It is even more fragmented, transactions between some combination of SEPA nations can take 2-5 business days just like the US ACH system. from what I know about this discussion is that each use case is its own conversation, so I randomly chose this one out of a hat.
    - arcticbull 6y ago
      ACH is dead, RTP is the future, it's real-time and practically free -- all without consuming an Argentina of power. Crazy, I know. [1] [1] https://www.theclearinghouse.org/payment-systems/rtp https://www.theclearinghouse.org/payment-systems/rtp