this post was submitted on 13 Oct 2023
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Privacy
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Monero will never be ready for mass adoption. The problem is that it is primary used for illegal transations. Its effectively tainted in my eyes
Is cash tainted for the same reason? I think when a currency is good for commiting crime, it is an indication that the currency is well designed.
Cash isn't used for crime nearly as much
So much cash is used for drug deals that it literally helps to shape our (USA) economy.
It is a stereotype here that if someone has a lot of cash, they are either drug dealers or sex workers.
Hoo boy do I have some news for you.
But you actually don't know what monero is being used for when it's used in transactions, no one does. You just have a bias that if people want to keep their transactions secret, it must be illegal.
You could make the same argument for cash.
Not really. At the time cash was created it was simply for exchanging value, because we didn't have anything better. It's just legacy currency now.
It's a little harder to lug around millions in cash without anyone noticing.
Not all secret transactions are illegal, but the people who are doing illegal transactions will do anything they can to keep them secret.
Most of the people using Monero are drug lords are foreign counties. You can get similar privacy with cash and it doesn't have the same crime issue.
I also mentioned taler because it provides privacy for the spender but not the receiver. The idea is that there will be less ways to effectively take dark money while protecting the rights of the consumer
Same argument can be said for encryption LMAO
Not really
Seriously though why not? People pay for criminal transactions in USD, GBP, EUR. Do you not use these currencies?
No they don't. At least not much anymore. Most of that stuff is in Monero.
How do you think North Korea funds its nuclear program
Anything that is private is going to be used for illegal transactions. That is not Monero's fault. If you want it to be used for less illegal transactions, then use it for legal transactions yourself. I personally use it to pay for my life insurance, groceries, phone bill, etc. And as far as I'm aware, none of those are illegal transactions.