[HN Gopher] Xmr.to shuts down Monero exchange service
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Xmr.to shuts down Monero exchange service
Author : lawrenceyan
Score : 38 points
Date : 2021-02-23 17:49 UTC (5 hours ago)
(HTM) web link (xmr.to)
(TXT) w3m dump (xmr.to)
| sn_master wrote:
| What's the alternative to buy XMR? Does anyone know of any major
| exchanges that support XMR?
|
| I only found (Kraken) but it doesn't support where I am (WA
| state) and others either don't support it or support
| buying/selling but no sending to a private wallet.
| babaganoosh89 wrote:
| Anonymizing BTC via BTC -> XMR -> BTC seems hard these days.
| spinny wrote:
| bisq is the most anonymous way that i know of
| john_alan wrote:
| Good luck spending the tainted BTC you buy on Bisq.
| rattlesnakedave wrote:
| tainted BTC doesn't exist.
| john_alan wrote:
| What's your Bitcoin address? I'll send you some.
| Kranar wrote:
| It absolutely does, there are plenty of BTC addresses
| that are tainted and not accepted by exchanges.
| alfiedotwtf wrote:
| How does it work if you just send the entire "tainted"
| coin to a new address and then send _that_ to the
| exchange? Sounds like smoke and mirrors to me
| Kranar wrote:
| I have to be blunt but this is a very basic property of
| the blockchain, which by design keeps an entire history
| of every single transaction (source and destination
| address) that is ever made.
| john_alan wrote:
| This type of lack of understanding is rife. Makes me
| quite bullish on Monero when people realise how little
| privacy Bitcoin and crappy forks provide. Might see a
| signal type movement to Monero.
| heavyset_go wrote:
| I don't think that irrational retail investors
| understand, or care to understand, Bitcoin or Monero
| implementation details. Bitcoin's valuation has little to
| do with its technical merits. It's all just internet
| money to most people.
| john_alan wrote:
| Yea I agree right now.
|
| But even showing a few newbie friends how I could see
| their balance and transactions after they sent me BTC or
| shared their address with me, baffled them, they couldn't
| believe it.
|
| People will start to care as they become extorted, or
| embarrassed. Privacy is a fundamental requirement of good
| money.
|
| I think people will learn this over time and gravitate
| towards a better money for the internet.
| john_alan wrote:
| Very simply. They don't allow coins with that lineage.
| There are so many people ignorant of the reality of
| bitcoins fungibility problem it amazes me.
| alfiedotwtf wrote:
| > ignorant of the reality of bitcoins fungibility
|
| This is not an issue with bitcoin, but of exchanges.
| That's why I specifically asked if exchanges cared if
| taintedness was transitive.
| gojomo wrote:
| If sent such tainted bitcoins, do the exchanges send them
| back, or seize them?
| Kranar wrote:
| Coinbase won't let you sell tainted coins but will let
| you withdraw them. No exchange will seize them.
| x86_64Ubuntu wrote:
| So they actually have measures to stop tumbled coins from
| re-entering the supply?
| heavyset_go wrote:
| I doubt that the one valid use case for Bitcoin, purchasing
| things on the grey/black market, is impacted by tainted
| BTC.
| yokem55 wrote:
| The cool kids now launder their coins through mining rig
| rentals. Spend old coins, get new ones back.
| belval wrote:
| That's interesting, rig renting has been available for a
| while now but I never connected the dots and just assumed it
| just made sense for some people.
| labrador wrote:
| Don't forget to buy carbon offsets
| heavyset_go wrote:
| There's nothing stopping courts from demanding that XMR.to keep
| records of the chain of custody when users buy XMR via BTC on
| their service.
|
| Almost all exchanges adhere to KYC laws, so there's a good
| chance that following transactions backwards will lead to an
| identifiable buyer or seller of Bitcoin.
|
| What technical features of Monero make it a solution for actual
| anonymization of BTC?
| seibelj wrote:
| FYI - this happened several months ago, before the BTC run up.
| muskox2 wrote:
| I wonder if the recent price drop (from $280 to $180) is related
| to this.
| thinkmassive wrote:
| You don't need to wonder, it's specified in the post:
|
| "we won't compromise on our principles and, to give one
| example, are not prepared to turn our back on digital privacy
| preserving technologies such as TOR and VPNs. We have now got
| to the point where it no longer looks feasible to run this
| service in a manner consistent with our core beliefs."
| john_alan wrote:
| This was announced weeks ago. Before the rise recently.
| thinkmassive wrote:
| Correct, the linked post is from Jan 31.
| sn_master wrote:
| Does this mean they were getting push back from law
| enforcement agencies?
| YeBanKo wrote:
| It's more likely from their lawyers, who recommended this
| to avoid compliance issues in the future.
| thinkmassive wrote:
| There's a tiny bit of speculation here, but it doesn't seem
| like any further official clarification will happen
|
| https://www.reddit.com/r/Monero/comments/la46ds/comment/gll
| q...
| zmnxos wrote:
| They announced this before the price ran up to $280.
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(page generated 2021-02-23 23:02 UTC)