/biz/ - Business & Finance

It's literally the only cryptocurrency that is used.
If Crypto is like the Dotcom Bubble, Monero will stand.

>>49326774
When I found out I can hide my degenerate crypto gambling profits in it.

>>49326774
I want to believe, but what about the FATF recommendations that have to be implemented into national law? Will exchanges be able to adhere to the travel rule?

>>49326893
>>49326961
Based

>>49327074
Where we are going, we don't need exchanges.
Ultimately there will be regulations but as far as I know something like what you are talking about applies only to regulated entities. It would also apply to all cryptocurrencies.
If you, say, want to buy a house with your Monero profits you can cash out at an exchange that has Monero and pay your capital gains tax. I don't see how this is any different than Bitcoin.
Further if your exchange doesn't have Bitcoin you can swap your Monero into something else, pay the capital gains tax, and then swap into Bitcoin, pay the capital gains (which would be very little, assuming you are swapping instantly) and then send to a legal exchange. There is nothing they can do and the government will gladly take your money.

>zognero

>>49327298
I am patient and I have no problem to wait 10 years if this market is anything like the dotcom bubble. But when I inevitebly want to convert some xmr to buy a house in 10 years, will it still be possible? Exchanges have no way to verify the origin of my xmr, so I would assume that will be a problem in the regulatory environment that we will have in 10 years?

Or am I overlooking something that makes xmr compliant with this kind of regulation?

>>49327513
How would Monero be any different than any other cryptocurrency in that regard? If you buy Monero from an exchange, hold it, and sell it later for fiat, why would that be any different than Bitcoin? Or Gold? Or any other type of asset you need to pay capital gains taxes on?

>>49326774
>Monero is compliant
A moonboy and a bootlicker. Consider kysing yourself.

>>49327747
Transactions on other blockchains can be tracked, which makes it easy for exchanges to stay compliant in regard to the travel rule.

>>49327999
That's not true at all. Exchanges are only looking at what comes in and out. So if you bring in a lot of Monero all of a sudden you will get flagged
And besides, if you are using an exchange you are already supplying kyc info. That's what they are regulated to do. so you cash out and then pay your taxes.

>>49328778
By "flagged" I mean the irs would get notified that you made a crypto transaction and will audit you if you don't pay your taxes.
There is nothing illegal about Monero. Read the Perkins coie whitepaper.

>>49328814
I read that paper. But wasn’t that before the updated FATF-recommendations?

https://www.fatf-gafi.org/publications/fatfrecommendations/documents/guidance-rba-virtual-assets-2021.html

Page 57: „In the context of VA and VASP activities, countries should ensure that VASPs licensed by or operating in their jurisdiction can manage and mitigate the risks of engaging in activities that involve the use of anonymity-enhancing technologies or mechanisms, including but not limited to AECs, mixers, tumblers, privacy wallets and other technologies that obfuscate the identity of the sender, recipient, holder, or beneficial owner of a VA. If the VASP cannot manage and mitigate the risks posed by engaging in such activities, then the VASP should not be permitted to engage in such activities.“

>>49329130
Check out the monero policy working group. They have a response to this stuff.
As far as I can see the issue is all of these definitions are vague and impossible to enforce unless literally everything is regulated (e.g mandatory kyc on all txs) which is of course absurd and wouldn't be complied with.

I want to start acoomulating xmr. How should I start?

>>49327747
The point of Monero is to use it, not to trade for fiat. Why the fuck would you trade Monero for a weaker currency, this isn't an investment idiot.
>>49328778
>so you cash out and then pay your taxes.
Kek no. You don't get the point of xmr at all.

>>49330017
If I want to buy a house one day, I certainly will have to convert it back to fiat for that purpose.

>>49330162
Not if the seller accepts xmr or any another cryptocurrency.

>>49330017
Because maybe I have made a large profit and want to diversify my portfolio? Fucking autistic retards like you need to get off your high horse. I've used Monero more than most people and tell moonboys to kill themselves all the time. But not selling market tops is brainlet tier.
>>49330209
>What is taxes
Lol are you 15. Do you really think I can't just walk up to a property listing and ask them to take my pedo pesos. Use your brain.

>>49330017
Because maybe I have made a large profit and want to diversify my portfolio? Fucking autistic retards like you need to get off your high horse. I've used Monero more than most people and tell moonboys to kill themselves all the time. But not selling market tops is brainlet tier.
>>49330209
Lol are you 15. Do you really think I can't just walk up to a property listing and ask them to take my pedo pesos. Use your brain.

>>49329718
Buy LTC and exchange in CakeWallet for XMR

>>49330937
You will be able to buy house with crypto directly in the future when USD collapse. Just wait until 2030. Screencap this.

>>49326774
i wish she knew i existed

>>49330994
not only that but it also will be the top signal.
imagine buying a skyscraper for like 25BTC or 250 XMR

>>49331750
buy some more xmr

>>49330937
>Because maybe I have made a large profit and want to diversify my portfolio?
So you're basically saying that you are diversifying into fiat kek (the last place anyone would go to due to rampant inflation). Again, note how I'm talking about currencies, not investments and portfolio diversification.

>Do you really think I can't just walk up to a property listing and ask them
Yes, there has been houses sold in Bitcoin in a few countries, this'll be amplified in the future. Who's to say they won't accept Monero or any other credible cryptocurrency? (for the lack of a better term; xmr is the only cryptocurrency that stays true to its definition)

>>49332008
Who said anything about holding large sums fiat? Jesus you are dense.
>Yes, there has been houses sold in Bitcoin in a few countries, this'll be amplified in the future.
That's not the point retard. 99.999% of listings only accept USD in the United States, which means I need to convert my Monero.

>>49332073
>claim he doesn't want to hold large sum of fiat
>wants to buy a house

>i NEED to convert
>impatient and wants to CONSOOM NOW

Okay goy, this is why you will never make it because of your short term planning. Let me guess you also want a lambo?

>>49332073
Then you're out of the topic that I started the conversation with. Do I really need to repeat this for the third fucking time? Stop being an imbecile.
>99.999% of listings only accept USD in the United States, which means I need to convert my Monero.
For now atleast. AGAIN, adoption will continue to rise. If you want to buy immediately, then yes you need to convert (UNLESS the seller wants to accept crypto, all you have to do is ask).

>>49332202
Buying a house is a great investment. It's not consooming. Are you retarded lol. It's not like I'm converting ten years before I buy it.
>>49332332
>Yeah man don't be a savvy investor and convert large profits to diversify your portfolio. Instead you should wait for a reality that doesn't exist yet instead of getting a house and property and possibly flipping it later or renting it out for passive income while all the while stacking more Monero.
You are too stupid to understand what I'm trying to say, I'm assuming.

>>49326774

Well for me, it was when those things you said happened, happened. I was like, look, those things are happening, and I noticed those things happening.

>>49326774
most of these, over a year ago. where have you been nigger

>>49332424
Now you're just putting words in my mouth (which I have not spoken). Your projection is quite dreadful.

>>49326774
>So, when did you realize Monero was the ultimate bear market hold?