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MarkOfTheDragon12 t1_iy5gx0w wrote

Not gonna lie; when I saw "Duo", I thought they meant cisco's Duo Security product

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Littlebotweak t1_iy5ld5d wrote

To think their biggest mistake was not opening in the Bahamas.

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SubstanceAltered t1_iy64cuh wrote

Replying to Actual__Wizard (#748,663)

It's a shame that's the common idea linked to it. Equally as it can help a criminal exchange money it can help citizens of oppressive regimes exchange money. Simply the fact that its the only crypto thats fungible is enough to crown it as the only real cryptocurrency.

A quick real world example (regardless of your stance on the subject) Canadian trucker protesters received Bitcoin donations. Canadian government didn't like the protest/purpose, tracked Bitcoin transactions, and coerced the exchanges to freeze assets. Also, all transparent Blockchains show a history of the coins and some coins could be linked to bad things/criminal enterprises/hackings/thefts/etc in the past. Said coin is tainted and less valuable than a freshly mined coin. XMR avoids both of these issues because of it's anonymity and fungibility.

Plus... Cash is the king of the criminal world and the government can print infinite amounts. How does that help?

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darth_aardvark t1_iy64gsd wrote

Replying to Actual__Wizard (#748,663)

Ironically, it's one of the few cryptocurrencies that has an actual use and is used exactly as it was meant to be: for people to pay each other anonymously and securely.

It just turns out that the only people who actually want to pay each other anonymously with no recourse for reversal are criminals.

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BrckaLo t1_iy65hwg wrote

Replying to SubstanceAltered (#749,397)

Cash is legal tender and criminal use is a small percentage of overall use. Cash is cumbersome and only really useful in small transactions. This is why the US doesn't really mint anything bigger than $100. Don't whatabout, the comparison is bad.

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SubstanceAltered t1_iy664gg wrote

Replying to BrckaLo (#749,600)

Thanks for highlighting why cash is a bad form of currency compared to Monero. You don't need to carry around suitcases of cash or trust a bank to hold your wealth for you.

Criminal use is a small percentage of overall Monero use.

How many dollars did the government print out of thin air in the last couple years?

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BrckaLo t1_iy68z97 wrote

Replying to SubstanceAltered (#749,724)

I'm not sure I understand. Are we talking about cash or currency? In the US, the treasury department only prints cash to replace worn out notes. The federal reserve manages currency through reserve requirements and the discount window. I am not current on my fiat currency notes so you might verify. The fed targets a 3% inflation (maybe 2%, don't remember) to encourage spending. No one serious wants a currency that is also a long term store of value (think gold).

The only reason someone would use crypto as tender for anything outside of the developed world is to attempt to avoid taxes or buy something illegal. Any other use is a waste of everyone's time and only an attempt to be hip. No serious business would price an item in crypto without indexing to a government backed currency for exchange.... Cause you know, business related taxes gotta be in legal tender.

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Vault-71 t1_iy6dmkl wrote

Replying to Littlebotweak (#745,749)

The first step to opening any legitimate company is to incorporate in the Bahamas, run transactions through the Caymans, maintain several Swiss bank accounts, and dodge taxes through Ireland.

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LightInthewater t1_iy6mzpt wrote

Replying to [deleted] (#745,241)

No no no no it's good still good it's still good.

If you just look passed the several crashes, the numerous bankruptcies, the gigantic scandal with FTX and don't look to much into the subject, you'll see that Crypto is the future!!!

What's that you asked? How is less regulation and oversight going to lead to less corruption? Never mind that dude, have you seen this ape coin? Pretty BANANAS am I right?

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James-VanderGeek t1_iy8fdph wrote

Fuckin’ owl wasn’t content shaming me for giving up on Chinese after 2 weeks, he had to get into a Ponzi scheme too?

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