this post was submitted on 21 Jul 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

GitHub

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Monero, XMR, crypto, cryptocurrency

founded 1 year ago
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Stay on topic:

  • This thread is only for comments discussing the uncertainties, shortcomings, and concerns some may have about Monero.

  • NOT the positive aspects of it.

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The first principle is that you must not fool yourself โ€” and you are the easiest person to fool.

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[โ€“] [email protected] 1 points 3 months ago

There are plenty of tradesmen working on weekends without reporting it to tax authorities. Common in cities, practically the norm in rural areas. Time spend working doesn't leave a paper trail and whoever hired them can buy all the materials for "personal use". Farmers do need to buy supplies, but unless they have John Deer equipment, the harvest amount will not be automatically counted, and it's trivial to sell some part of it on non-official markets.

I think it all hinges on how fast people get used to using monero "for real" and not only to buy some merch or for other meme purposes. When regulations come down, the people who will be hit the hardest are those bridging between fiat and xmr, because their banking activity can be moderately easy controlled.