Privacy

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A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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Crypto (lemm.ee)

submitted 2 days ago by [email protected] to c/[email protected]

29 comments fedilink hide all child comments

How viable is crypto as a private medium exchange in the modern world?

I see the value of using cryptocurrencies as a form of digital cash (from both a personal privacy point of view and a broader political/economic point of view) but am also put off by a) all the scamming and speculation and moreover b) the friction and privacy tradeoffs involved in getting any of it.

One of the obvious problems is that not many sellers accept it as payment. I can accept that. But AFAICT, in order to pay those that do, I must either do the legwork of conducting a peer-to-peer exchange of fiat currency for crypto (PITA) or use an exchange, which will have records of my personal identity. I'm aware that I could launder exchange-bought crypto to obfuscate my ownership of it but that is also a PITA. I suppose I could also mine coins but that has the most friction of all options and is a poor use of electricity production in my view.

Is there a solution that I'm not aware of, where I can buy (or indeed sell) crypto easily and privately?

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[–] [email protected] 3 points 2 days ago (1 children)

The biggest problem with doing it that way is you have to go from fiat into Bitcoin, and then you have to go from Bitcoin into Monero, which incurs Bitcoin's network fees, which currently are not high, but can spike to ridiculous levels very quickly. Also, just as of yesterday RetoSwap has just done a higher monthly volume than bisq for the first time. I expect them to duke it out with each other over the next couple of months before RetoSwap comes out ahead all the time.

[–] [email protected] 1 points 1 day ago* (last edited 1 day ago) (1 children)

That's awesome. I just know that someone in my country complained about the absence of offers in our currency and region, even though they're available and allowed. There was apparently just more variety on Bisq. Hope there are more diverse offers soon!

[–] [email protected] 2 points 1 day ago

Tell your friend to post offers of their own. Somebody needs to start, and they could make a little money, acting as a start for the market.