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

6 upvotes, 1 direct replies (showing 1)

View submission: Monthly Optimists Discussion - February 2025

*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...

Replies

Comment by East-Day-7888 at 01/02/2025 at 15:58 UTC

-6 upvotes, 1 direct replies

Artifical intelligence has already beat cryptography and is already used in asset tracking. In pusdonomnous wallets.

It's actually used by most people and publicly available to who use crypto as tax software.

Just because you have a single token that cannot be tracked. The rest of your wallet and its balance is.

To think you can slip a single token in unseen is foolish. If you operated purly on a wallet that is only ever involved in illicit activities and never touched a proper on or off ramp, maybe you could hide.

But that's only ever be good for buying pot.

You'll never use that income to buy a car, house, or even groceries.

The moment it's converted, you are spotted, and as compliance cracks down on defi and forces kyc complance, I would be curious to know how you are going to find more capital to infuse into the system, and what would prevent it from up cycling into just a few wallets that hold vs. Spend.

Monroe has already fallen flat on its face, and it only has further to fall.