I think this prompted investors to ask "where's the ROI?".

[anagrammadicodeina@feddit.it]

For the istant money from 2025 I Agree, but the bank transfer part is like that since 20 years

[atempuser23@lemmy.world]

At it's core the block chain encourages verification. doing extra steps to maintain privacy is not the same as system that is private. It's like saying cell phones are private if you buy a burner phone with cash. Technically well but not by design.

[knock_knock_lemmy_in@lemmy.world]

Agreed. Privacy on the blockchain is an optional extra. On newer generations the option exists by design.

[isthisreddit@lemmy.world]

It's not a statement out of ignorance and it's not a lie. Most people don't try to move huge money around so I'll illustrate what I had to go through - I had a huge sum of money I had in an online investing company. I had a very time critical situation I needed the money for, so I cashed out my investments - the company only cashed out via check sent via registered mail (maybe they did transfers for smaller amounts, but for the sum I had it was check only). It took almost two weeks for me to get that check. When I deposited that check with my bank, the bank had a mandatory 5-7 business day wait to clear (once again, smaller checks they deposit immediately and then do the clearing process - BIG checks they don't do that, so I had to wait another week). Once cleared, I had to move the money to another bank, and guess what - I couldn't take that much cash out, daily transfers are capped at like $1500 or whatever they were, so I had to get a check from the bank. The other bank made me wait another 5-7 business day as well, because the check was just too damn big.

4 weeks it took me to move huge money around, and of course I missed the time critical thing I really needed the money for.

I'm just a random person, not a business, no business accounts, etc. The system just isn't designed for small folk to move big money

[isthisreddit@lemmy.world]

Absolutely my point

[isthisreddit@lemmy.world]

So not any amount then. My point stands

[isthisreddit@lemmy.world]

Right - the entire stock market doesn't make sense, doesn't seem to stop Tesla or any of the other massively overvalued stocks. Btw stocks have been massively overvalued for over a decade, but that's a different topic

[anagrammadicodeina@feddit.it]

True, never had a need in my life to move such an amount tho

[comfy@lemmy.ml]

Try buying Monero, it is very hard to buy.

• Acquire BTC (there are even ATMs for this in many countries)
• Trade for XMR using one of the many non-KYC services like WizardSwap or exch

I haven't looked into whether that's illegal in some jurisdictions but it's really really easy, once you know that's an option.

Or you could even just trade directly with anyone who owns XMR. Obviously easier for some people than others but it's a real option.

Both of these methods don't even require personal details like ID/name/phone number.

[aesthelete@lemmy.world]

It doesn't take weeks to do a wire transfer. You had some one off weirdo situation and you're pretending like it's universally applicable. It took me longer to cash out 5k of doge a couple of years ago than it takes me to do "big money" transfers.