Don't be aware of Monero! Once you're under the laws of the open sea, no need to blame someone for playing dirty. Monero truly provides you the right to use your crypto in the way you like and nobody dares to tell you what to do, nobody traces your wallet and asks you about the purpose of your spending. You truly own your funds only when you have Monero wallet.
Thank you for the reminder @coinatory. If you lose your Monero keys, you've lost your money.
But can someone steal your funds? Or block them because you're suspected in something? Or take taxes from your wallet? That's what truly owning your funds means. No government or whoever else can touch them without your permission.
And by the way, nobody even knows that you have funds in your Monero wallet ;)
Dear @coinatory, @guysellars
I understand that monero does provide us with some sort of privacy. But in order to use monero, we need to purchase it on some exchange. Right? And most exchanges still require KYC.
I can bet that accounts purchasing larger amount of monero will be automatically "on radar" and will only attract unwanted attention.
Or perhaps Im wrong? Please share with me your opinion
Cheers, Piotr
it is true for centralized exchanges, yes. It's true when you move all your funds to first Monero wallet (the exchange will keep this record). After that, you just send all your funds to another Monero wallet and this transaction cannot be traced. Nobody will know the sum or the wallet you've sent your funds to. That's privacy.
You can avoid the KYC - buy monero at localbitcoins!
Dear @coinatory
Thank you for your kind comment. Appreciate.
And so will authorities. Right? I bet that everyone who will be purchasing privacy coins will be right away "on the radar".
And being on the radar of your tax office / goverment is not what privacy is about :)
Yours
Piotr
localbitcoins is the website to avoid taxes ;)
Thank you for being so responsive @coinatory
Hope you will have a great week ahead,
Piotr