Comment by East-Day-7888 on 01/02/2025 at 15:18 UTC

-3 upvotes, 1 direct replies (showing 1)

View submission: Monthly Optimists Discussion - February 2025

Sounds sustainable

with wallets being sudoanonymous and the irs starting to catch up in AI tech to be able track wallets. I am sure people are going to want to create taxable events every time they transact or risk prison.

What's more, wallets could risk confiscation entirely, just from being associated with those defi on/off ramps

It sounds like using Monroe is setting yourself up for failure. As the remainder of chains are immutable and records last forever.

It sounds like a perfect way, to create a flawless and legally binding case against yourself. Committing crime via a public notary.

Replies

Comment by the_rodent_incident at 01/02/2025 at 15:43 UTC

4 upvotes, 1 direct replies

*People will commit crimes.** Today, in 5 years, in 50 years, in 5,000 years from now, people will still commit crimes. And they will get away with it, regardless of what tech level their civilization uses. If regular people can't commit crimes, then only governments and powerful people will commit them, leading to oligarchies and authoritarian hell-holes being a normal state of society, eventually leading to hive-mind structures and loss of humanity as we know it. Completely eliminating crime and plugging every leeway hole for human ingenuity will be the death of humanity itself.

There are even some people, like apatrids or transexuals, who cannot legally exist. Every day of their life is waking up as a criminal.

What do you think will be the currency of choice, once all paper cash is out of use? Absolutely, certainly not Bitcoin, or any form of transparent blockchain.

Artificial Intelligence cannot beat cryptography. You need working quantum computers for that. Even so, there are crypto algorithms which are quantum-proof, and Monero will implement these as soon as they are ready.

Non-custodial Monero wallets cannot be confiscated. If a law enforcement agency does not have the keys to your Monero wallet, they cannot move funds, and they cannot know how much XMR there is, nor where it went, or where it came from. If your data is encrypted, they don't even have a way of knowing if you ever used Monero or not.

Bitcoin on the other hand is very dangerous asset to hold. Completely transparent, the whole world sees when you move your coins, and by linking an address to your real name (via KYC exchange) you've effectively marked yourself forever. Using Bitcoin is a real way of creating a binding case against yourself...