Technology

37727 readers

622 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

Scammers exploit bitcoin ATMs. Will new California laws help crack down on fraud? (www.latimes.com)

submitted 1 year ago by [email protected] to c/[email protected]

26 comments fedilink hide all child comments

New California law limits cash to crypto at ATM machines at $1000 per day per person and also the fees that can be imposed by the machines.

The industry says this will hurt the business, hinting that they're profiting from the lack of KYC policies

I don't see any legitimate use from those machines. Who would have a legit need to exchange $15k from cash to crypto at 33% fees????

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

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)

The whole point of range proofs, and bulletproofs, is the ability to prove a transaction is balanced, without revealing the transaction history.

Ring CT, and key images, prevent double spend and prevents transaction history from being public.

I've given you the reference documents. If you'd like to read those documents and then discuss the details with me I will engage you in a reading group no problem.

But just repeating the same point back at me without reading what I've indicated or even acknowledging what I've said isn't productive for either of us.

I want to thank you, however, I've been meaning to go through all of the paperwork on monero. And this gave me an opportunity to do so.