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Comparing the security of visa transactions to crypto is laughable. The IRS literally had a bounty out for anyone that could trace monero. Meanwhile, seizing mo

Comparing the security of visa transactions to crypto is laughable. The IRS literally had a bounty out for anyone that could trace monero. Meanwhile, seizing money from traditional bank accounts and tracking credit card transactions is an every day chore for the government.

LapsangGuzzler 4y ago
> tracking credit card transactions is an every day chore for the government. In what sense? Credit card companies manage their own fraud mitigation per federal law, which makes it easy for consumers to dispute transactions. If someone gets my crypto wallet PK and withdraws everything, who do I dispute that with? No way to reverse transactions in BTC.
- johngladtj 4y ago
  Non-reversible transactions are a feature not a bug. If you want protection against that, get insurance.
  - jjtheblunt 4y ago
    Are you two agreeing implicitly, in that insurance IS the point of a credit card company?
- alphanullmeric 4y ago
  “per federal law” is the sense that I refer to. Federal law includes stopping not only fraud, but political adversaries (ie. Canada), the aforementioned privacy preserving tools, trading activity between consenting parties in the name of investor protections, and various other violations of the force is only justified in response to force rule. It’s interesting how people that normally claim to support privacy will go all patriot act over financial privacy. Regardless, I’m not sure why it’s relevant to bring up what you like about credit cards. You’re free to use whatever currency you want, we were discussing whether it should be illegal for me to do the same.
anonymouskimmer 4y ago
For about a 63 cent stamp and a 5 cent security envelope you can send about $8000 or so of effectively untraceable hundred dollar bills with the USPS.
- alphanullmeric 4y ago
  For 5 cents you can send any amount of monero anywhere around the world and have it settle in 25 minutes. The transaction is irreversible and obfuscated - sender, receiver and quantity.
  - jjtheblunt 4y ago
    Can you send it to the grocery store you're trying to leave with food sooner than 25 minutes? That sounds like an implied criticism but I genuinely don't know the answer.
    - junofan 4y ago
      Yeah every transaction has a one-time key you can give them. Settlement in 25 minutes is quicker than the 1–5 days they already deal with.

LapsangGuzzler 4y ago

> tracking credit card transactions is an every day chore for the government. In what sense? Credit card companies manage their own fraud mitigation per federal law, which makes it easy for consumers to dispute transactions. If someone gets my crypto wallet PK and withdraws everything, who do I dispute that with? No way to reverse transactions in BTC.

johngladtj 4y ago
Non-reversible transactions are a feature not a bug. If you want protection against that, get insurance.
- jjtheblunt 4y ago
  Are you two agreeing implicitly, in that insurance IS the point of a credit card company?
alphanullmeric 4y ago
“per federal law” is the sense that I refer to. Federal law includes stopping not only fraud, but political adversaries (ie. Canada), the aforementioned privacy preserving tools, trading activity between consenting parties in the name of investor protections, and various other violations of the force is only justified in response to force rule. It’s interesting how people that normally claim to support privacy will go all patriot act over financial privacy. Regardless, I’m not sure why it’s relevant to bring up what you like about credit cards. You’re free to use whatever currency you want, we were discussing whether it should be illegal for me to do the same.

anonymouskimmer 4y ago

For about a 63 cent stamp and a 5 cent security envelope you can send about $8000 or so of effectively untraceable hundred dollar bills with the USPS.

alphanullmeric 4y ago
For 5 cents you can send any amount of monero anywhere around the world and have it settle in 25 minutes. The transaction is irreversible and obfuscated - sender, receiver and quantity.
- jjtheblunt 4y ago
  Can you send it to the grocery store you're trying to leave with food sooner than 25 minutes? That sounds like an implied criticism but I genuinely don't know the answer.
  - junofan 4y ago
    Yeah every transaction has a one-time key you can give them. Settlement in 25 minutes is quicker than the 1–5 days they already deal with.