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I think you missed my point. You can just create a new address in the Monero GUI with the click of a button. You don't need to transfer the funds to a new walle

by 22c 5y ago

I think you missed my point. You can just create a new address in the Monero GUI with the click of a button. You don't need to transfer the funds to a new wallet. It's like putting a sanction on a burner phone or throwaway account, don't you think?

rosndo 5y ago
> It's like putting a sanction on a burner phone or throwaway account, don't you think? So? That’s … normal? I suggest you read up on how sanctions work outside of cryptocurrency, all of these concerns are already addressed. Sanctioning Monero funds is useful, the people in control of the funds will need to answer questions about their origin in order to cash out. They will have to defraud banks and exchanges in order to sell their Moneroj. Monero might allow you to conceal your transactions, but that isn’t necessarily going to help too much when the people in control of the funds are known to the government.
- 22c 5y ago
  I suggest you read how Monero works. The people in control of the funds won't need to answer any questions about the origin in order to cash out because the origin of the funds are not known to the network. When they transfer their funds to a fiat off-ramp, the source of those XMR will not be known to the fiat off-ramp, so there is no way anyone can answer any questions about their source because it's simply not known to any receiving party.
  - rosndo 5y ago
    I know how Monero works. In fact, I’ve made several commits. > The people in control of the funds won't need to answer any questions about the origin in order to cash out because the origin of the funds are not known to the network You misunderstand how AML/KYC laws work.
    - 22c 5y ago
      I've cashed out Monero and I've also sent Monero to someone else in exchange for cash in hand. At no point did I need to reveal to any party what address I received those XMR on. There is no KYC process that I know of which asks for "the address you received your XMR on".

by 22c 5y ago

rosndo 5y ago

> It's like putting a sanction on a burner phone or throwaway account, don't you think? So? That’s … normal? I suggest you read up on how sanctions work outside of cryptocurrency, all of these concerns are already addressed. Sanctioning Monero funds is useful, the people in control of the funds will need to answer questions about their origin in order to cash out. They will have to defraud banks and exchanges in order to sell their Moneroj. Monero might allow you to conceal your transactions, but that isn’t necessarily going to help too much when the people in control of the funds are known to the government.

22c 5y ago
I suggest you read how Monero works. The people in control of the funds won't need to answer any questions about the origin in order to cash out because the origin of the funds are not known to the network. When they transfer their funds to a fiat off-ramp, the source of those XMR will not be known to the fiat off-ramp, so there is no way anyone can answer any questions about their source because it's simply not known to any receiving party.
- rosndo 5y ago
  I know how Monero works. In fact, I’ve made several commits. > The people in control of the funds won't need to answer any questions about the origin in order to cash out because the origin of the funds are not known to the network You misunderstand how AML/KYC laws work.
  - 22c 5y ago
    I've cashed out Monero and I've also sent Monero to someone else in exchange for cash in hand. At no point did I need to reveal to any party what address I received those XMR on. There is no KYC process that I know of which asks for "the address you received your XMR on".