[gigatexal]

Crypto: monero, ICOs, stable coins, grift, extortion, Ponzi schemes.

I don’t want to charge people for money. I’m just leery of the I must be anonymous in everything crowd. I’m pro encryption, I’m also pro KYC and other anti money laundering programs — I do think the industry could be disrupted a bit though the exchange fees are egregious. Most of it is just going to profit margin and by activities that are just rent seeking.

[OutOfHere]

You're leery because you've been privileged in that you have not been victimized or unfairly targeted for your actions. Money laundering is a fake/made-up liberty-stealing concept by corrupt people that want to enslave others and tell them what they cannot do. If you think that Monero and stablecoins are equivalent to the other things you named, you are not even very educated.

Are you aware of the Coinbase customer data leak that happened this year? It revealed cryptocurrency balances, names, and home addresses. It was a disaster for the customers who will now risk kidnappings and death threats from extortionists. This nightmare was a direct result of KYC. It would have been a non-issue without KYC in a stablecoin economy.

[gigatexal]

Please spare me the tears. At risk groups, minorities, etc have over the years gained many protections and will continue to do so. You write as if crypto is the only thing around to save the lives of these folks when it's instead used for grey and black market things mostly.

I was hoping we could find common ground in destroying the margins the payment processors rake in ... and still do KYC while still knowing that crypto is otherwise used for quick gains and is more or less just a Ponzi scheme.

[OutOfHere]

You get to share your beliefs, but don't get to force or impose your beliefs on others. If the people don't care for KYC, the people will get what they want. You do not represent the growing percentage of crypto users.

The biggest ponzi, larger than all other ponzis combined, is the exponentially growing debt of the national currency. It is destined to devalue the national currency.

Your assertion about cryptocurrency being used mostly for a particular market is self-suiting nonsense.

The world is full of those who want to be enslavers and those who want to be free. You are in the former group.

[gigatexal]

“Enslavers” “exponential” … so doomsday of you. My points were made yet not countered with evidence. I could very well be wrong. We will never know. ;-)

KYC is among others the law of the land for financial institutions. Even if not don’t you want to know you’re not aiding terrorists or sex traffickers or drug cartels in washing their money and funding crimes that harm or kill people?

Some freedoms are traded in a civil society for civility. What did you do before crypto? Not bank? Not buy anything? Never use a credit card? Always pay cash? Live off the grid?

[OutOfHere]

It is a statistical fact that the growth of the US national debt, and that of many countries, is exponential in its grwoth. This will have ramifications that will heavily affect everyone holding dollars. Just plot it and see the equation. Of course those who choose to remain clueless will indeed never know.

KYC is the law for financial institutions, one that it would be in their best interest to lobby against. It is also not the law for self-custody crypto, and certainly not for users, not that it could ever be one since it would be impossible to enforce anyway. The users have no interest in it.

Your nonsense of aiding terrorists, traffickers, cartels, is just that -- plain nonsense. This is because just as with cash, the usage of cryptocurrency is orthogonal to the criminal activities. The law increasingly wants practically every freedom traded away, not for civility, but for repression. They are the ones harming more people as of late, with an increasingly undemocratic and oppressive agenda. Moreover, the government already heavily tracks the usage of non-privacy cryptocurrencies; its is like a dream for them.

[gigatexal]

Must be nice to live in this libertarian utopia as the Doomguy of your own universe. Best of luck.