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by boltzmann-brain
1376 days ago
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As much as I'd like this to be the case, that's not a valid argument. If you're a random person who wants to fund a certain organization, you're going to have to buy the cryptocurrency somehow. For anything except tiny amounts this is going to require you to do KYC at some point. Every transaction on a blockchain is recorded forever and traceable back to you and the legal ID that you used during KYC. No one's going to mine Monero for five months just to fund a grassroots organization. The way covert funding of illegal or unpopular operations or bribes _actually_ works in the real world is different. It often involves stuff like gambling, getting a thousand pre-paid cards, having a bank that issues credit cards (eg Russian-owned MyWireCard which now dissolved issued huge, prepaid, free cards to EU politicians), or "ant work" such as hacking or grinding up game accounts and selling them for profit. That's the covert and difficult part - not having a blockchain. Before you could get paid for your OF leaks with Ethereum, you'd get paid with Amazon prepaid card codes. The tender being on a blockchain doesn't improve anything at all for those performing the payment or those receiving it. |
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Am I missing something here? This is the main use case for Monero. You can just buy it with your credit card or after buying bitcoins thru a KYC'd service. That's the point - once you got Monero, it is practically untraceable by the authorities or anyone else interested. No one can see who sent or received money without a view key. The same cannot be said for most other cryptocurrencies like BTC or ETH, since once you buy these from a KYC service, it's tied to your identity forever.