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You just ban Monero then. If something is a problem, and you want to ensure financial visibility then ban all transaction types that hide visiblity, like bannin

by rnk 3y ago

You just ban Monero then. If something is a problem, and you want to ensure financial visibility then ban all transaction types that hide visiblity, like banning mixers. This is separate from whether it's a good idea or not.

dogman144 3y ago
And then you mix in DeFi. Or into and out of L2/HTLCs. Or via atomic swaps, which went live but are buggy, and won’t show the monero interaction. Or cross-chain. And on and on. Let’s ban it all?
- rnk 3y ago
  Yes, that's where I think financial regulators are heading. And anyone who thinks for one second of course sees that these are also problems with cash that drug cartels deal with by sending bales of $100 bills around. And so we added kyc and discourage cash. I don't think you can ban people doing crypto entirely, but you can make the financial exchange points where cash goes in and out ever more difficult.
- JumpCrisscross 3y ago
  > Let’s ban it all? It’s in the process of being grey listed. Similar to running an all-cash lifestyle, it’s possible. But you’ll have your money frozen and seized and stolen from time to time. And you will hit intentional roadblocks any time you attempt a major financial move.
DANmode 3y ago
> You just ban Monero then. You just ban encryption, then! You just ban liquor/drugs, then! Monero making law enforcement investigation more difficult due to privacy algorithms does not make it legal to ban.
- rnk 3y ago
  Those two first things have sure been tried, over and over as everyone knows. I said the obviousness of banning monero next was separate from whether it's a good idea.
miohtama 3y ago
There is no need to ban, because Monero is already so niche cryptocurrency that it is unusable for paying ransoms. You cannot ask ransoms in a currency the victim cannot access.
- Stevvo 3y ago
  It's just as easy to buy Monero on a major exchange as it is to buy Bitcoin. Just as easy to send a ransom.

by rnk 3y ago

dogman144 3y ago

And then you mix in DeFi. Or into and out of L2/HTLCs. Or via atomic swaps, which went live but are buggy, and won’t show the monero interaction. Or cross-chain. And on and on. Let’s ban it all?

rnk 3y ago
Yes, that's where I think financial regulators are heading. And anyone who thinks for one second of course sees that these are also problems with cash that drug cartels deal with by sending bales of $100 bills around. And so we added kyc and discourage cash. I don't think you can ban people doing crypto entirely, but you can make the financial exchange points where cash goes in and out ever more difficult.
JumpCrisscross 3y ago
> Let’s ban it all? It’s in the process of being grey listed. Similar to running an all-cash lifestyle, it’s possible. But you’ll have your money frozen and seized and stolen from time to time. And you will hit intentional roadblocks any time you attempt a major financial move.

DANmode 3y ago

> You just ban Monero then. You just ban encryption, then! You just ban liquor/drugs, then! Monero making law enforcement investigation more difficult due to privacy algorithms does not make it legal to ban.

rnk 3y ago
Those two first things have sure been tried, over and over as everyone knows. I said the obviousness of banning monero next was separate from whether it's a good idea.

miohtama 3y ago

There is no need to ban, because Monero is already so niche cryptocurrency that it is unusable for paying ransoms. You cannot ask ransoms in a currency the victim cannot access.

Stevvo 3y ago
It's just as easy to buy Monero on a major exchange as it is to buy Bitcoin. Just as easy to send a ransom.