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This entire comment section seems premised on this idea that crypto is useful because it's anonymous. But with the exception of a couple tokens like Monero and

This entire comment section seems premised on this idea that crypto is useful because it's anonymous. But with the exception of a couple tokens like Monero and Zcash, which are rarely used, crypto is significantly LESS anonymous than cash. There's a reason it's called a public ledger. So odd.

danuker 4y ago
Cash is much more expensive to transact in. Bitcoin is more private than bank/credit card transfers even if you don't try to hide your identity, because it costs more to follow your trail (especially if you bought it from a natural person rather than a KYC centralized exchange). But it is pretty convenient, as it can be done fully online.
leesalminen 4y ago
Cash can only be used anonymously in-person. Lots of commerce happens virtually today over the internet. Using cash to pay for digital goods/services is not a sustainable solution. Sure, you can mail an envelope with cash for a very small number of online services. But, the US government OCRs the return+to address on every letter in the country. So, even your envelope with cash is being traced. And there's the risk of the letter being lost/stolen. There's also a carbon footprint involved in sending physical letters around the globe on cars/planes.
qwerty456127 4y ago
Sure, I use Monero, Zcash and mixers. I absolutely can't imagine using BitCoin or similar currencies the plain way so everybody would see precisely where and when, for how much and, indirectly, what I buy - this seems insane, do people really do this? The only problem still making me feel slightly uncomfortable is I don't understand how do Monero and Zcash achieve anonymity, how is it possible to transfer money without registering who (whose wallet) pays who. Ideally you should understand how do your tools work. But I don't care enough to dedicate time to study this.

danuker 4y ago

Cash is much more expensive to transact in. Bitcoin is more private than bank/credit card transfers even if you don't try to hide your identity, because it costs more to follow your trail (especially if you bought it from a natural person rather than a KYC centralized exchange). But it is pretty convenient, as it can be done fully online.

leesalminen 4y ago

Cash can only be used anonymously in-person. Lots of commerce happens virtually today over the internet. Using cash to pay for digital goods/services is not a sustainable solution. Sure, you can mail an envelope with cash for a very small number of online services. But, the US government OCRs the return+to address on every letter in the country. So, even your envelope with cash is being traced. And there's the risk of the letter being lost/stolen. There's also a carbon footprint involved in sending physical letters around the globe on cars/planes.

qwerty456127 4y ago

Sure, I use Monero, Zcash and mixers. I absolutely can't imagine using BitCoin or similar currencies the plain way so everybody would see precisely where and when, for how much and, indirectly, what I buy - this seems insane, do people really do this? The only problem still making me feel slightly uncomfortable is I don't understand how do Monero and Zcash achieve anonymity, how is it possible to transfer money without registering who (whose wallet) pays who. Ideally you should understand how do your tools work. But I don't care enough to dedicate time to study this.