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/biz/ - Business & Finance

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10572340 No.10572340 [Reply] [Original]

>Need to make a payment for $30k at 3 am
>Credit limit is $20k
>Can't do a bank check or a wire transfer because you need to physically go to a bank
>Even then it will take multiple days to process that payment
>With crypto if you have enough you can pay anyone you want any time

>> No.10572358

>>10572340
whoa

>> No.10572365

You control your own money with bitcoin. Be your own bank. It's really that fucking simple. That alone is why it will hit $100k eventually.

>> No.10572371

I can wire any amount without leaving my living room. What sort of shit bank do you have?

>> No.10572377

>>10572340
so what in the real world are you doing where you have to make an immediate payment of 30k at 3AM, and why are you such a fucking cuck that you only have a credit limit of $20k

>> No.10572384

>>10572340
>Still need to cash out at a bank

>> No.10572388

What is the payment for OP. I might not be able to help, but I'm here to listen fren

>> No.10572399

>transfer 30k btc, payee wakes up to 25k worth

Yay crypto

Oh and dont put on character wrong in that address, no one to call to reverse a payment

>> No.10572406

the key use of cryptocoins is anti tax cuckoldry. deal with buying and selling p2p instead of being forced through banks and their reporting. tax is a multi trillion dollars per year business, this is why monero will go to trillion+

>> No.10572410

>>10572377
i don't know what OP is talking about, but in the real world wiring internationally involves large delay and fees, if you have ever had to do this you will know how fucking painless it is with cryptocurrencies

>> No.10572418

>>10572406
There is 1 other coin that is truly private and will be up there. Monero will be king tho in 5 years or less

>> No.10572420

>>10572399
>Oh and dont put on character wrong in that address, no one to call to reverse a payment
thank god it's all digital and you can get an objective confirmation in nanoseconds that it's the correct address despite your autism

>> No.10572426

>>10572418
you mean ethereum
znsnarks brah

>> No.10572429

>>10572399
what the payee does with the payment is his own business

>> No.10572431

>>10572340
Crypto is promising which is why the Jew bankers want to kill it.
Futures was the trojan horse.

>> No.10572433

>>10572426
No lol. There are so many reasons why that’s wrong I’ll let you just stay poor

>> No.10572437

Do you know how many people are denied their bank application everyday? Bank the unbank bros

>> No.10572441

>>10572340

>gotta pay a tab for gay hookers
>want their money now
>go frogpost on /biz/ about it

>> No.10572444

>>10572399
Copy paste address. Send small amount. Make sure it works. Then proceed with higher amount. Wow normies will never figure it out.

>> No.10572448

>>10572420
this.

>> No.10572456

>>10572433
Uh, tell me why so I don't stay poor you greedy asshole

>> No.10572480

>>10572444
>9 years after BTC was created
>Still copy/paste address manually to send BTC

>> No.10572488

>>10572399
Addresses have a checksum built in so that if you get a character wrong it won't send.

>> No.10572492

>>10572480
I'm sure there's other ways but I don't really care enough to learn them. Most times I'm just sending to myself either from exchange account to my personal wallet or to another exchange. And for that, copy paste is fine. I've used qr code a few times too but it doesn't matter nigger

>> No.10572494

>>10572444
This is retarded though, normies do need an easier UX, someone like cuckbase can work that out for them

>> No.10572497

>>10572406
hahaha, he bought the 'crypto keeps you safe from taxes' meme, unaware that finland already started tracking you shits

>> No.10572511

>>10572456
I’m not here to shill my bags. But I can tell you thjs. Cryptonote coins are superior to zk snarks. Snarks will never be able to be private. They are too inefficient, the issues are unknown still, and they require a trusted set up. Go with a tried and true cryptographic measure, ring signatures. Also you can’t make btc or ether private. It’s not gonna work. Anyone who tells you that is straight up lying or misinformed.

>> No.10572514

>>10572444
Cos everyone owed 30k wants some test dribbles of funds first, and then to have to covert your shitcoin to cash later.

Normies dont want your meme money. (((they))) have a better solution to serve those customers right now, and it works beautifully

>> No.10572516

>>10572480
I'm still doing this for bank tx, supposedly I can use phone numbers now but I don't know how any of that shit works

>> No.10572522

>>10572497
They can try and track Monero all they want. It will take far too many resources to be feasible

>> No.10572527

>>10572511
Can you tell me why? You're speaking in generalities here. Why won't it work? zksnarks is private. Yes it's untested compared to ring signatures but that's not going to be enough to make monero some magical thing that survives the apocalypse. Right now it's just the first mover ring signature coin and that's it. You can already mix ETH which makes it anon for the most part

not saying you're wrong but zksnarks seems like it will work just fine.

>> No.10572530
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10572530

>>10572340
This mother fucker finally found a use for crypto!

>> No.10572535

>>10572514
>Your bank will likely charge a fee to make a SWIFT transfer to TransferWise
>In addition, when the money is in transit, correspondent banks in between may also deduct their handling fees. Your bank should be able to advise what those would be.
>If we receive less then what you have set up your TransferWise transfer for, we won't be able to process your transfer without your help and will email you. So, please keep a close eye on your inbox - if we don't get a reply to our request, we will need to send your money back.
>Make sure to inform your sending bank that no conversion is necessary when sending your money to our account.

>SWIFT payments usually take 1-3 working days to reach their destination, however it is possible that they can take longer due to circumstances such as time differences between the sending and receiving country or multiple intermediary banks involved with delivering your money to us.

works beautifully

>> No.10572554

>>10572527
Part of what makes Monero so private is the mandatory privacy. Coins like Zcash can’t do that. It’s not possible. Zk snarks take up so much computing power it’s not feasible. Because of this it’s not very hard to analyze even private tx.

>> No.10572564

>>10572535
Whats the exchange fees on converting 30k btc to usd and withdrawing?

>> No.10572568

>>10572554
can you explain why it's easy to analyze private tx? I don't understand that. I get that it's not mandatory ergo building a circumstantial case is possible, but if you send a private tx to a few different addresses and break the funds up, that's the end of it... you may as well have mixed the coins, no? Not sure what the problem is

I guess you're right in that I'd still want to shapeshift to monero at that point or something, I just think zksnarks really blurs the line

>> No.10572576

>>10572564
*$30k in btc

>> No.10572601

>>10572568
There aren’t enough hidden tx to blend in with. Zcash only has like 100 z tx a day or less. So you are taking coins that were once visible, destroying them and replaycing them with new coins. Because not enough people are doing them same it’s much more suspectile to analysis. In theory zk snarks are awesome. In reality they aren’t ready yet. It’s like building a pocket sized thorium reactor. It’s fuckin cool and def better. But it isn’t scalable to mass use

>> No.10572620

>>10572601
Alright, but from that, why would Monero ever be anything more than just a dark net market and tax avoidance tool?

Not suggesting there's not huge value in that, but I just don't see why it should somehow become much larger than it is now. Its price doesn't have to go up for it to function as a private coin

>> No.10572625

>>10572564
Depends on how you do that, traditional FX isn't going to give you spot anyway, going to work out more or less the same. For very large amounts you will eat shit on slippage from BTC low liquidty

>> No.10572634

>>10572620
Why does any coin have value? At the very least Monero won’t die. I don’t see people accepting publicly visible ledgers as a store of value because it’s just not safe. Maybe people don’t care, but I think the pull back we are seeing with Facebook twitter insta etc are showing a change in public values.

Why do people put money in Swiss banks? Private wealth has value

>> No.10572645

>>10572620
There needs to be enough to service the value in play

>> No.10572657

>>10572625
More or less than the swift fees for a transfer?

>> No.10572666

>>10572657
What is more or less? swift fees are on top of the conversion fee

>> No.10572675

>>10572634
>I don’t see people accepting publicly visible ledgers as a store of value because it’s just not safe.
what about bitcoin?

>> No.10572689

>>10572675
Besides bitcoin I think Monero and btc are basically the 2 coins that have a justification to exist. Will btc be around in 30 years? Idk. Is it going to be king for a while? Yes

>> No.10572695

>>10572689
Just saying that I don't think Monero is going anywhere fast. Justification, yes, absolutely agreed... but I'm here for money as much as I am the tech

>> No.10572697

>>10572666
Will the total fees for a transfer of 30k usd to another person account be more or less than the fees for you to send the 30k worth of btc, then them convert to usd and cash it to an account

>> No.10572763

>>10572377
when you have international suppliers (ie chinks), its not unusual for them to ask you to wire money at 3am or they will delay your cargo for a week.
also, since its international transfer, it usually takes a couple of days, they still delay your cargo and you get fucked by bank fees. also also, when you first start you business, you have to spend weeks explaining to banks, local irs equivalent, etc. where you got the money from, why are you sending it to china, etc.

>> No.10572777

>>10572697
What SWIFT does is tell banks to send money to each other, the cost depends on how many hops, what those banks charge, which one does the conversion what he charges for that plus SWIFTs own fee. It is not merely a case of pay $20 for the transfer. Last time I used it there were hundreds of dollars in fees and it took a week.

>> No.10572796

>>10572399
>transfer $200k worth of rubles to your chink suppliers
>they wake up to crashed ruble now worth $100k and refuse to fulfill your order or return your money
no larp, a buddy of mine actually went bankrupt due to this shit in 2016

>> No.10572830

>>10572796
>steal your money for no reason
would honestly fly to china and fucking kill them