cryptocurrency

2609 readers

1 users here now

The largest cryptocurrency community on the Fediverse!

Lemmy community dedicated to cryptocurrency news, technicals, education, memes and so more!

💬 Chat on Community Improvements and Development

Community Knowledge Base:

Be nice, have fun.

Community rules:

No Spam
No ads
No aggressive coin promotion or attacks on others
No ICOs / IEOs / STOs / token (pre)sales / scam schemes promotion
No trading/buying crypto discussions
No promotion of trading groups, courses, signal groups, or other trade groups
No pumping and shilling
No casinos, giveaways, faucets, begging
No price speculation posts
No trolling

General lemmy.ml instance rules applicable here too.

Ugly brother of this community: bωockchain

For a community devoted to cryptography itself, visit c/cryptography

founded 5 years ago

MODERATORS

[email protected]

How Hamas' Crypto Fundraising Backfired - Forbes (www.forbes.com)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

7 comments fedilink hide all child comments

archive.is

An interesting journey, following hamas's attempt to use crypto for funding, and their abandonment of it. And their preference for cash-based funding.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 5 points 1 year ago* (last edited 1 year ago) (2 children)

Definitely the large volume on-ramps and off-ramps yes.

I think their biggest mistake was believing open ledgers were anonymous. They're clearly not.

There's only one privacy coin which even approaches anonymous fungibility, it's definitely not Bitcoin

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

Still, eventually you need to swap it back to FIAT. And, as mentioned in the article, these crypto exchanges are under governmental control.

[–] [email protected] 4 points 1 year ago

You can still just meet people in person to trade it, it's just harder to buy/sell large volumes quickly and for a good price.

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

The Lightning Network already features onion routed payments. If onion routing isn't private enough, then they'll just get caught by IP address.

The one coin to which you refer has no mechanism for verifying the total supply. So if there's ever a supply bug, then the attacker could generate infinity free money and nobody would ever know.

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

Monero, if that's what you're referring to, has mechanisms for auditing supply:

https://m.youtube.com/watch?v=vW9H6VIONWM&t=174s

If you're going to repeat this argument ad nauseam then at least don't do it in a misleading absolutist way.

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Discussion in case any one is reading this: https://local106.com/comment/984103