this post was submitted on 24 Jul 2024
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Privacy

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After reading such news I have an obvious question. Does anyone know a PayPal-like service, that allows to hide the destination of my transactions from Mastercard / bank, but with a good privacy policy? Or how else can I restrict the usage of my financial data by mastercard or bank?

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[–] [email protected] 5 points 3 months ago (2 children)

Best way to hide transactions is with crypto. And namely Monero. Not exactly PayPal like but Monero is the most private.

[–] [email protected] 8 points 3 months ago* (last edited 3 months ago) (1 children)

Unfortunately there are a very small amount of places when I can pay with crypto... I do not want to face also questions from AML officers. I'm not a journalist in the dangerous country or political activist, so Monero looks like an overhead for me.

[–] [email protected] 5 points 3 months ago (2 children)

Monero is for everybody. The most common things I purchase on a monthly basis in Monero are Domino's Pizza and groceries. And as far as I'm aware, neither of those things are illegal. Monero is money, just like a $100 bill is money (currently). It is perfectly legal to hold and use Monero.

[–] [email protected] 5 points 3 months ago (1 children)
[–] [email protected] -3 points 3 months ago (1 children)

No, but it's very easy to buy a Domino's gift card with Monero and use that.

[–] [email protected] 2 points 3 months ago (1 children)

Where I live they used to accept BTC. Not Monero unfortunately.

[–] [email protected] 7 points 3 months ago (1 children)

Well, there are plenty of places that do accept Monero. Take a look at https://monerica.com and https://xmrbazaar.com which is a small but growing marketplace to buy and sell anything you wish (excluding illegal goods) .

[–] [email protected] 3 points 3 months ago

Oh that's interesting! Thanks for letting me know.

[–] [email protected] 2 points 3 months ago (1 children)

Until you do your taxes. The government hates crypto.

[–] [email protected] 1 points 3 months ago

Taxes in the US for crypto are easy. I sold some crypto I had and just put the amount in the other income box and paid the tax.

[–] [email protected] 0 points 3 months ago (1 children)

No it's not. Crypto is very specifically not that. It's an open ledger.

[–] [email protected] 1 points 3 months ago (1 children)

This is not accurate. Monero offers a very high degree of privacy and anonymity. So does Bitcoin lightning, to a lesser degree. Lightning transactions don't go on chain and are known only to: sender, recipient, and intermediate nodes, if any.

[–] [email protected] -2 points 3 months ago