Monero and regulation

An interesting comment by my colleague of the Monero core team, tacotime:

McDonald's can't prove that money for a cheeseburger didn't come from drugs, and frankly, they don't care. A casino likewise dispenses cash and doesn't care where it's going below a certain amount.

There's nothing you can do with Bitcoin that you can't already do, more safely, with gold or cash. The problem is not the medium, but helping the government and regulators to understand how cryptographic currencies work and how poorly they actually do measure up to the anonymity offered by their own anonymous currency system, cash.

The purpose is not to avoid taxes, it's to avoid corporate censorship or social ostracizing because of how we spend our money. Clearly, cash has its usages and advantages, such as the privacy afforded for things like the purchase birth control, legal pornography, an abortion, how you spend a loan, escort services (where legal), gambling (where legal), tobacco, alcohol, charities, and politically/socially controversial non-profit organizations like the EFF or ACLU.

There it is. We are not facing a technological issue here, but a human issue. That's why Monero can play well with regulators and still privacy matters for more than drugs.

Comments

2
generalizethis's picture

I'd like to add that it's a human rights issue as well. Siezing assets is one of the first things totalitarian regimes do when they want to limit the freedom of people they deem as undesirable. Many Jews couldn't leave the Nazi state simply because their assets had been siezed by German officials. In the US, many on trial for drug crimes can't pay for their own legal counsel because their assets have been siezed--which would be less apt to my first point if the majority of those being denied their assets were caucasian and not blacks and latinos. Justice may be blind, but until officials are, I think we need more cashlike options to protect human liberty.

And, here we have provided the complete details and instructions regarding the McDonalds Customer Satisfaction Survey. McDonalds has introduced a voice survey to know whether the customers are satisfied or not. The mcvoice Survey is conducted in online mode.