Now let's say you are a merchant, normal merchant selling

Question

Now let's say you are a merchant, normal merchant selling

let's say food for BTC. How do you know if the BTC you accepted is not sanctioned, before you accept it?
You are lawfully obliged now to check if the person, institution, bank account or crypto is not on the sanction list.
With Monero you don't have this issue at all because it is not possible to taint a fungible coin, you cannot know from what address to what address, how much and not even when, not even if the transaction was performed.
This is the real money, the real cash that can be used as a real store of value or as a payment instrument - Monero 😎

#cryptocurrency #english #xmr

0

28.03.2022

6 ответов

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Pasternak Автор вопроса

KRS ONE1
You’d utilize a system that automatically converts...

No mate. Why the fuck would you do that anyway? Why not do it directly in XMR and exoose yourself to problems touching BTC?! "Automatically" is not a magical Avada Kedavra spell, killing any trace. With atomic swap or without it, with every conversion of BTC/XMR you must find an idiot on the other side that is willing to take the risk of getting into trouble because he got in his wallet the sanctioned BTC. Come on.

0

28.03.2022

KRS ONE1

Pasternak
No mate. Why the fuck would you do that anyway? Wh...

People are people. They won’t just use 1 thing no matter how beneficial it would be as history has showed us. A retailer will accept all forms of payment if they can find a market for it

0

28.03.2022

Pasternak Автор вопроса

KRS ONE1
People are people. They won’t just use 1 thing no ...

Till the retailer gets informed that it can happen to him tomorrow that if he got BTC from a wallet that received it from a wallet that received it from a wallet one year ago that is now sanctioned, and he can lose that BTC now ....... He will no more accept it 😎

0

28.03.2022

KRS ONE1

Pasternak
Till the retailer gets informed that it can happen...

Unless they use a POS system that does the swap in the backend for them. Retailers don’t care for the intricacies of how a credit card is processed and finality of settlement etc. They just care that they have been paid

0

28.03.2022

Pasternak Автор вопроса

KRS ONE1
Unless they use a POS system that does the swap in...

Depending on jurisdiction, they must inform want every transaction, even the backend one. And we are there again

0

28.03.2022

KRS ONE1 · Accepted Answer

KRS ONE1

You’d utilize a system that automatically converts that BTC to XMR then into whatever crypto you want to hold or recognize as payment. Systems like atomic swaps that can’t be lawfully obligated to anyone because there’s no one to go after

0

28.03.2022

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Now let's say you are a merchant, normal merchant selling

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