25
Open Source Collective Is Disabling Contributions in Cryptocurrencies
(opencollective.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Apr 2024
25 points (87.9% liked)
Monero
1664 readers
21 users here now
This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
MODERATORS
How does XMR prevent transactions from sanctioned nations?
how does cash or digital cash(XMR) prevent transactions? your question doesn't make much sense
it would be like asking a 20$ dollar bill to stop being transacted from someone sanctioned. A 20$ dollar bill itself cannot discriminate who is using it. You give that 20$ bill to someone and they don't know the history of that 20$ bill, you don't know who used it before and that's why everyone can take it, because this means they know they will be able to use it.
when something is fungible like cash or digital cash(XMR), law enforcement needs to find other ways to stop what they considered sanctioned nations or criminals or bad people or whatever.
How does anyone accepting cash donations prevent donations from sanctioned nations?
Also pretty sure that Ukraine has gotten a bunch of donations from Russian citizens (who faced consequences if they used traceable means of payment).
I don't know. You're the one making fantastic claims. The onus is on you to back them up.
No, how would that be possible? Exchange can block you if you are you send/receive transactions from sanctioned countries.
Why should it? If I want to send money to a person, that's noone's business except mine and of the person receiving it.
I'm not making the claim that it is. Open Source Collective had an account shut down because they received a crypto donation from a sanctioned country. They decided to stop accepting crypto because of that incident. OP has made the claim that XMR has already solved all the problems they describe. I question that claim.
If you receive a donation through the Ethereum anonymization contract Tornado Cash, everyone can see that and since the contract is also used by sanctioned states like North Korea, all funds going through Tornado Cash were put on a sanctions list (pretty easy since they only needed to sanction the contract address). Monero is different in the sense that it has privacy by default and while you might be able to point out that some criminals use Monero, you can't really prove it directly with the blockchain like you can with Tornado Cash.
Imagine the government sees that a ton of people, including known terrorists were all sending credit card payments to the same guy, who mixes everyones money together to hide it's origin (now he is the origin though) and now money from that place of origin is used to fund attacks on the government but also to donate to kids with cancer. Of course the guy will have to be arrested and all the money that went through him marked as sanctioned.
Monero on the other hand works as an independent version of cash, not tied to any nation but instead governed by cryptography and code, which are protected by the First Amendment. If a government doesn't like Monero, they can still easily make access to Monero very complicated via laws that prevent centralized exchanges from listing it, and they do, but outright sanctioning the whole network could be very, very hard and might literally be impossible without trampling all over free speech laws.