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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Thoughts on Cryptocurrency? (programming.dev)

submitted 8 months ago by actual_patience@programming.dev to c/privacy@lemmy.ml

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I was wondering what viewpoints and opinions this community has when it comes to cryptocurrency.

Personally, I'm not against it, but I'm not for it either. I like the concept of bringing back cash anonymity, and also decentralization (obviously). Although I don't think it will be viable for at least another decade.

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[–] frogmint@beehaw.org 4 points 8 months ago* (last edited 8 months ago) (1 children)

BTC, ETH, and XMR are the only ones that matter. Some stable coins (USDC, GUSD) are okay, too.

BTC (Bitcoin) is good because it's the most widespread. If a vendor accepts crypto, odds are they accept BTC. However, the blockchain is easily traceable.

ETH (Ethereum) is good because its blockchain is far more versatile, so it can be used for other things than just crypto payments. However, it's less widely used for payments than BTC and is also easily traceable.

XMR (Monero) is excellent. It's extremely difficult to track an individual user. Your transactions are private. There are some possible attack vectors for the future, but they'd require that you be an actual target to be worthwhile. Someone that's going to track you is going to find a different way than XMR to do it. XMR isn't as widely used as the others, though, and it's also not on as many crypto exchanges. Kraken has it.

However, crypto as an investment is not a good idea. Spend your crypto.

[–] banghida@lemm.ee 0 points 8 months ago

Ethereum is unregistered security token.