3 ms·

can send private transactions on ZK rollups https://railgun.org/ https://railgun.org/ https://app.umbra.cash/ https://app.umbra.cash/ https://spillways.financ

by tomr75 3y ago

can send private transactions on ZK rollups https://railgun.org/ https://railgun.org/ https://app.umbra.cash/ https://app.umbra.cash/ https://spillways.finance/ https://spillways.finance/ https://mystiko.network/ https://mystiko.network/ https://cyclone.xyz/ https://cyclone.xyz/ https://www.privacypools.com/ https://www.privacypools.com/

philipwhiuk 3y ago
And how do you get the money out. At the end of the days there's a magic internet money to real money transaction and that will get hit with KYC and suddenly the entire house of cards collapses. Or you never get the money out, but suddenly have a bunch of stuff and you get hit with taxes you can't pay because you didn't take the money out. Countries aren't just going to let people evade AML because it finances stuff much worse than Johnny buying weed from a guy in Mexico, it finances terrorism and it's infinitely easier to follow the money than anything else. Anything that gets big will get sued to hell and it's ridiculous to think otherwise.
- dlubarov 3y ago
  Exchanges can see the assets I move through on-ramps and off-ramps, but (in the case of Zcash etc) they can't see all the on-chain activity in between, which is generally the more interesting part.
  - philipwhiuk 3y ago
    As soon as this gets mass adoption it will be regulated sufficiently that it will either be illegal to use or possible to determine who sent who what.
    - dlubarov 3y ago
      It has similar privacy properties as cash, so I would think governments would treat it similarly, with some reporting requirements depending on the amount. If they do outright ban transaction privacy, at least that would involve explicit legislation with some risk of backlash - seems preferable to the status quo where the privacy violations are more covert.
davidgerard 3y ago
and Tornado Cash ... oh wait,

3 ms·

can send private transactions on ZK rollups https://railgun.org/ https://railgun.org/ https://app.umbra.cash/ https://app.umbra.cash/ https://spillways.financ

by tomr75 3y ago

philipwhiuk 3y ago
And how do you get the money out. At the end of the days there's a magic internet money to real money transaction and that will get hit with KYC and suddenly the entire house of cards collapses. Or you never get the money out, but suddenly have a bunch of stuff and you get hit with taxes you can't pay because you didn't take the money out. Countries aren't just going to let people evade AML because it finances stuff much worse than Johnny buying weed from a guy in Mexico, it finances terrorism and it's infinitely easier to follow the money than anything else. Anything that gets big will get sued to hell and it's ridiculous to think otherwise.
- dlubarov 3y ago
  Exchanges can see the assets I move through on-ramps and off-ramps, but (in the case of Zcash etc) they can't see all the on-chain activity in between, which is generally the more interesting part.
  - philipwhiuk 3y ago
    As soon as this gets mass adoption it will be regulated sufficiently that it will either be illegal to use or possible to determine who sent who what.
    - dlubarov 3y ago
      It has similar privacy properties as cash, so I would think governments would treat it similarly, with some reporting requirements depending on the amount. If they do outright ban transaction privacy, at least that would involve explicit legislation with some risk of backlash - seems preferable to the status quo where the privacy violations are more covert.
davidgerard 3y ago
and Tornado Cash ... oh wait,