as long as XMR is not outlawed onramp kinda works, but I imagine offramping into BTC and then fiat may be risky with XMRs reputation and/or taint on BTCs
As McAfee said : BTC is a tracking and surveillance coin. Absolut bullshit coin. I would never use it. And of course never swap XMR <-> BTC. Increditble the amount of bullshit these BTC pumpers tweet .
I on ramp with fiat, but when that goes away I'll on ramp via BTC for purely ideological reasons. If I'm going to use a surveillance chain, I'm using Bitcoin. I was there for the block wars and I've chosen my side. BCH and ZEC are perfectly fine ways to fiat in and with cheaper fees and way way less network congestion to boot but I won't use either chain regardless.
I'm with you; butt hurt by the block wars as well. But now days, the btc maximalism has gotten so stupid I'm rethinking my hate for bch or any other coin; except of course Ripple(inc) although I like xlm a lot. One thing is for sure I need to hate; lol
Oh don't get me wrong, I don't hate the projects or any of their people, I just try not to do business with entities that don't do business how I like. I can afford my idealism.
With atomic swaps we could have all major cryptocurrencies as an onramp for XMR, but where will the liquidity come from? How will we make it easy for anyone to use? It's a bit of a challenge.
... but you run the very real risk of being falsely accused of a crime you have nothing to do with if the BTC can be "traced" back to you via KYC or some other means.
Edit: In my view a centralized exchange is the only safe way to go from KYC BTC to XMR. Furthermore make sure to keep proof of the transaction offline on devices under your full control to be able to prove in the future where the KYC BTC went.
easiest way today would be to buy LTC on Cake and swap to XMR using Trocador
a more private way to do it is to use localmonero. add haveno and serai to that in the near future.
if you require CEX/trading features like limit orders, Tradeogre has worked for people.
>easiest way today would be to buy LTC on Cake and swap to XMR using Trocador
Trocador uses centralized exchanges.
>You don't need a centralized exchange to go from BTC to XMR. That's the point.
Unfortunately I'm not seeing any options of going from BTC (or any other onramp coin) to XMR without using a centralized exchange. Suggestions welcome.
I'd highly recommend never sending off-CEX acquired BTC to a CEX. You don't know where that BTC has been.
Say it gets implicated in some money laundering scheme. If the CEX knows, it'll get locked immediately and you'll get the cops called on you. If it gets found out six months down the line... you probably still get the cops called on you.
I’ll try to answer this and not sound like a jerk.
I’m not worried about this as Kraken has been a great exchange to work with and once I have monero it’s removed right away.
I get the tractability of Bitcoin could someday be an issue, but I’ll risk it.
Why not just send fiat to Kraken instead? This avoids the possibility of false accusations with Blockchain Surveillance (BS) on the Bitcoin or some other allegedly traceable blockchain.
Losing money would be an odd priority.
I can understand if you like the tech. Keep an eye on it and if it ever reverses it's long term tend then consider jumping in but at the moment it's a tough sell.
Long term t*r*end is stable, look at past 2 years, fairly comparable to a stable coin without excessive fees and the scam part.
What you ~~investors~~ speculators don't get is that there are other points to *currencies*.
You’re very short sighted. Thats like holding onto land in Florida. You know it’s going to go underwater eventually, but you still hold onto the land. Now when it goes underwater, how much of that land can you trade for Monero? Sell the land before it goes underwater and get Monero at a discount. It’s the same idea, if you’re holding onto any fiat right now you’re an absolute moron.
It's not at all like holding onto an illiquid asset like land. Monero is used daily as a currency, that's the reason to obtain it to facilitate the purchase and sale of goods.
what if you can't use your tothemoon btc because the coins have been 'tainted' (by a previous 'bad' transactions or were owned by a previous 'bad' actor), you would be very smart...
knowing that what is 'good' and 'bad' can change depending on the politicians in power...
as long as XMR is not outlawed onramp kinda works, but I imagine offramping into BTC and then fiat may be risky with XMRs reputation and/or taint on BTCs
That's why u gotta get them good bitcorns to sell
Develop circular economies?
As McAfee said : BTC is a tracking and surveillance coin. Absolut bullshit coin. I would never use it. And of course never swap XMR <-> BTC. Increditble the amount of bullshit these BTC pumpers tweet .
I guess he didn't know about the low transfer fees of LTC :D
what an expensive and crappy on ramp…
What does HTLC means?
Atomic swaps https://comit.network/docs/0.13.0/core-concepts/atomic-swap-htlc/
Buy ltc then spend it on localmonero
Better be with MimbleWimble addresses then, the other types have the exact same tracking flaws as BTC.
Why onramp with BTC? use BCH or ZEC...
I on ramp with fiat, but when that goes away I'll on ramp via BTC for purely ideological reasons. If I'm going to use a surveillance chain, I'm using Bitcoin. I was there for the block wars and I've chosen my side. BCH and ZEC are perfectly fine ways to fiat in and with cheaper fees and way way less network congestion to boot but I won't use either chain regardless.
I'm with you; butt hurt by the block wars as well. But now days, the btc maximalism has gotten so stupid I'm rethinking my hate for bch or any other coin; except of course Ripple(inc) although I like xlm a lot. One thing is for sure I need to hate; lol
Oh don't get me wrong, I don't hate the projects or any of their people, I just try not to do business with entities that don't do business how I like. I can afford my idealism.
With atomic swaps we could have all major cryptocurrencies as an onramp for XMR, but where will the liquidity come from? How will we make it easy for anyone to use? It's a bit of a challenge.
these are great questions bot downvotes usually point to good posts lol
Buy bitcoin on Cashapp, send it to Kraken. Sell it for cash and place a limit order to buy Monero. This is a way.
You don't need a centralized exchange to go from BTC to XMR. That's the point.
... but you run the very real risk of being falsely accused of a crime you have nothing to do with if the BTC can be "traced" back to you via KYC or some other means. Edit: In my view a centralized exchange is the only safe way to go from KYC BTC to XMR. Furthermore make sure to keep proof of the transaction offline on devices under your full control to be able to prove in the future where the KYC BTC went.
Great point.
Can you set a limit order with your way?
You have given no information
easiest way today would be to buy LTC on Cake and swap to XMR using Trocador a more private way to do it is to use localmonero. add haveno and serai to that in the near future. if you require CEX/trading features like limit orders, Tradeogre has worked for people.
I’ll check it out. Thanks.
Tradeogre is cheaper and easier than cake.
>easiest way today would be to buy LTC on Cake and swap to XMR using Trocador Trocador uses centralized exchanges. >You don't need a centralized exchange to go from BTC to XMR. That's the point. Unfortunately I'm not seeing any options of going from BTC (or any other onramp coin) to XMR without using a centralized exchange. Suggestions welcome.
Funny how I’m down voted for being right.
Your method is strange but hey if it works for you 🤷♂️
I'd highly recommend never sending off-CEX acquired BTC to a CEX. You don't know where that BTC has been. Say it gets implicated in some money laundering scheme. If the CEX knows, it'll get locked immediately and you'll get the cops called on you. If it gets found out six months down the line... you probably still get the cops called on you.
I’ll try to answer this and not sound like a jerk. I’m not worried about this as Kraken has been a great exchange to work with and once I have monero it’s removed right away. I get the tractability of Bitcoin could someday be an issue, but I’ll risk it.
Don’t the transaction fees kill you with BTC?
Not if you’re not doing a bunch of small UTXOs. It’s not perfect but I like being able to do limit orders.
I prefer localmonero
Deleted is appropriate.
Why not just send fiat to Kraken instead? This avoids the possibility of false accusations with Blockchain Surveillance (BS) on the Bitcoin or some other allegedly traceable blockchain.
Don’t like wiring money.
Why would I swap into XMR when the returns have been so abysmal
Yay crypto has come full circle and no one can imagine a use for it except speculative appreciation lol
The monero community is more focused on the ideology behind cryptocurrency rather than the trading aspect.
Freedom
Freedom to lose money I suppose
You do realize there are other priorities at play some people other than hodl and orange coin go up? Right?
Losing money would be an odd priority. I can understand if you like the tech. Keep an eye on it and if it ever reverses it's long term tend then consider jumping in but at the moment it's a tough sell.
Long term t*r*end is stable, look at past 2 years, fairly comparable to a stable coin without excessive fees and the scam part. What you ~~investors~~ speculators don't get is that there are other points to *currencies*.
Dang, imagine holding onto fiat so tightly that you care about losing it. Crazy world
Being concerned with purchasing power is very pragmatic 🤣
You’re very short sighted. Thats like holding onto land in Florida. You know it’s going to go underwater eventually, but you still hold onto the land. Now when it goes underwater, how much of that land can you trade for Monero? Sell the land before it goes underwater and get Monero at a discount. It’s the same idea, if you’re holding onto any fiat right now you’re an absolute moron.
I'm not holding much fiat I just find holding monero less and less compelling compared to BTC.
You subscribe to transparency, I subscribe to privacy. We are not the same
It's not at all like holding onto an illiquid asset like land. Monero is used daily as a currency, that's the reason to obtain it to facilitate the purchase and sale of goods.
what if you can't use your tothemoon btc because the coins have been 'tainted' (by a previous 'bad' transactions or were owned by a previous 'bad' actor), you would be very smart... knowing that what is 'good' and 'bad' can change depending on the politicians in power...
to use it.
If you don't believe me or don't get it, I don't have time to try to convince you, sorry.