/biz/ - Business & Finance

>>30305901
>So this means you can anonymously take it out to BTC for cashout? That sounds pretty amazing.

Exactly, you can swap out as much or as little as you want to BTC without anybody knowing you've done so.

The ultimate swiss bank account.

>>30138293
>So are the atomic swaps basically fully anonymous? For example if I have some XMR in my wallet and atomic swap to btc/ltc, there is no way to say how I got the ltc or btc?

Correct, the swap will look like an ordinary transaction on the BTC/LTC blockchain.

>>29762064
>what is atomic swaps?

Pic related. Bitcoin and Monero will be swappable very soon, with each chain benefitting: Monero gains access to Bitcoin's liquidity while Bitcoin gets a truly impenetrable privacy layer.

>>29289942
>When you buy litecoin can't authorities track it? Won't they know you've traded it for monero?

When you buy LTC on an exchange that transaction will be documented

When you send the LTC to your custom wallet its address will be documented.

When you atomically swap the LTC for XMR it will simply be forwarded to another LTC address like any other transaction, nobody can know its ownership has switched.

>>28775616
>I have heard mention of atomic swaps before, but i dont understand what they are how they work, are thay something which exists and is working currently or an idea which is being developed.

Atomic swaps are a way of directly exchanging crypto without a 3rd party (exchange) and with zero counterparty risk i.e. no possibility of getting scammed or ripped off, its basically escrow via smart contract.

This is significant for Monero because it means any kind of repressive regulation or outright banning won't prevent its acquisition or trade.

So, say Monero is banned and delisted from exchanges. All you'd have to do to buy some is:

1. Buy BTC/LTC/ETH/whatever on Coinbase

2. Send to custom wallet/AS client.

3. Select swap offer and initiate

4. You now have XMR.

And to sell you just do the above in reverse.

>>28294036
>>make $2 million off XMR
>>govt bans all XMR to fiat exchanges
>Good bye 2 million.

>>28293369

lol, no. If I want to cash out my XMR I'll first atomically swap into BTC/LTC/whatever and THEN sell it on exchanges in increments.

>>26253501

>>26090042
>Why will atomic swap make any difference?

Two primary reasons:

1. Atomic swaps = immunity from regulatory takedown. Once exchanges stop being necessary for acquisition and trade, the sword currently hanging over Monero's neck disappears. At that point delisting would be little more than a nuisance and would actually drive up the price due to the perception of scarcity.

2. Atomic swaps with Monero = the gold standard of crypto mixing. This means that those wanting to clean their coins with the highest degree of stealth will have to acquire equivalent amounts of XMR, usually with a premium having to be paid since XMR is fungible while others aren't. Constant asymmetrical demand = higher price over time.

>>26064163
>and thus you can never cash out

Sure you can, atomic swaps make it dead easy.

XMR->BTC -> fiat.

>>25934212
>How does it remain anonymous if you buy with Kraken? You have to verify your identity to use Kraken.

Kraken only knows you've bought X amount of Monero, once it leaves their exchange the trails goes cold.

But if you'd prefer to be as anonymous as possible, wait for atomic swaps (Q4 2021) and do a cross-chain exchange.

>>25515766
>anyone can spoonfeed me on this.? What are atomic swap? Why is it the next big thing for Monero?

Atomic swaps basically = P2P crypto exchange with zero counterparty risk. This means you no longer need centralized exchanges to trade BTC <--> XMR, you "connect" directly with somebody wanting to swap and the protocol does the rest, there is no chance of either party getting scammed.

In other words, no middleman = no fees, no AML/KYC, no fear of being delisted. This will be revolutionary for both BTC and XMR, since being able to seamlessly utilize XMR's God-Tier transactional privacy renders all other BTC mixers instantly obsolete.

Best part is, in order for BTC whales to utilize this superior mixing service an absolute FUCKLOAD of Monero will be required, the demand alone should send the price skyrocketing, at which point FOMO kicks in and off to the moon we go.

Project Farcaster, the codename for this particular endeavor, is scheduled to be operational by Q4 2021.

>>25459226

>Who is trying to create atomic swaps? All I see is theory about how it is possible.

Monero devs. Project Farcaster has been fully funded and is expected to be operational by year's end.

https://btcmanager.com/bitcoin-monero-xmr-atomic-swap-program/

https://www.reddit.com/r/Monero/comments/kjgi5g/farcaster_atomicswap_community_update_december/