111 sats \ 3 replies \ @02d769cb73 26 Jul \ parent \ on: So what are the problems with Monero? bitcoin
i'm not sure how useful un-kyc ing coins is - i mean, once you've announced you've got it, you can't make others un know you got it - maybe making no kyc easier and more prevalent is the more effective way ? or earning rather than buying, i suppose...
Monero folks seem to focus on tax avoidance I think. If that is the goal you are correct. You can't un-kyc bitcoin in that way. Here's the real problem I think super is getting at. Linking your transaction history with a party you have a transaction with. Unlinking yourself and maintaining more privacy in the bitcoin eco system / blockchain. Correct me if I am wrong there.
I think one of the best arguments a monero person has is that even without KYC if someone has poor bitcoin Opsec they are exposing info to someone they transact. Thing is, this all comes down to better wallets that use best practices and make it hard to have bad Opsec.
I think the big issue I have with monero is getting the cart ahead of the horse with privacy.
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yeah good point about the unlinking aspect - hadn't considered that
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Re: "un-KYC-ing" coins, if your reason for doing that is "I don't want to be in a database at a big company like Coinbase," I suspect it actually DOES help. If the coins you bought from Coinbase never move then they can confidently say you still have them. If you "un-KYC" them then you did move them and their database will have to reflect that your KYC'd addresses are empty now. That's not nothing. You might still be in the database, but now there's at least implicitly a question mark by the addresses they associate with you. They know they "once" had coins but any future reports they make about your holdings must reflect that all the addresses they know you had coins in are empty now.
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