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 1 week ago by [email protected] to c/[email protected]

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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] 5 points 1 week ago

Crypto is a ledger making it inherently bad for privacy. It doesn't have any real value, its just believe that holds its value (can't be eaten or be used to create anything). Its really bad for the climate and wastes resources like crazy. Its not a better payment system and its unregulated, meaning you can get scammed and nobody can reverse the damage. Just why do people want it to be a thing, the issues are so many and solution few.