@icedquinn @cwebber Then I recommend affected people to shame said banks and start hounding them with public complaints at regulators.

At least in #Germany banks are regulated as #Utility down to the point that espechally the public-owned ones (#Sparkasse) have been sentenced to accept clients against their will and endure anything that isn't as per ruling of law or a judge "illegal conduct"...

• If #Neonazis have a de-jure confirmed right to a bank account then obviously the same applies to #NSFW artists.

Even if that means people need to do #SEPA [or once launched for real globally: #wero] transfers or learn how to use #Monero and #ChangeNow / #NowPayments or similar payment service providers...

"If there's a will there's a way!"

• German proverbOriginal Decisionlower court case commentary

@CirinaTheUnwise you can do your part in killing #AMEX / #VISA / #MasterCard & #PayPal by refusing to use them!

- Every transaction not done via them *is* a transaction they don't rentseek upon!

If you are in the #SEPA area, consider #wero or just plain #WireTransfer.

- In the rest of the world, try #NowPayments & #Monero.

https://nowpayments.io/supported-coins/monero-payments

@heartshadows @JamesBaker you have that with cash too, abeit you can't steal the cash bills from the robbers back.

• Not that there ain't custodial options as well, but if I were to wire-transfer money to a scammer, I'd also have no option to recoup that money either.

Not to mention there are solutions like #PaperWallets that can act as #ColdWallets and allow securing funds through traditional means (i.e. [metal]card in a [bank]vault), so it's neither an unsolved nor unsolveable problem: My suggested options (#NowPayments & #ChangeNow) do offer a #fiat payout onto a bank account at a low fee.

• And with #Monero and it's #privacy, there isn't the risk of #kidnappings driven by #BlockchainAnalysis as unlike with #Bitcoin one cannot see the balance, thus not open up a #BlockchainExplorer and list wallets from biggest to lowest balance...

And yes, espechally Bitcoin holders of significant amounts face kidnappings at an elevated rate.

@heartshadows @JamesBaker Lets just say that #Monero not only never supported all the #NFT bullshit but actually worked against it given the abuse of "#Ordinals" aka. attempts to do that on the tx_extra field.

As for Money Laundering, existing provisions cover that well enough, cuz even #NowPayments and #ChangeNow do #KYC & #KYB their clients, and any bona-fide business does maintain records of billings and has absolute basics of accounting in place, so that makes them unattractive, espechally for any ML operations as they do cooperate on duely issued warrants and have been known for that.

• In fact, the clamp-down on Monero did create a huge industry of middlemen that facilitate exchange of it into clean #shitcoins to the point that a whole industry of #crypto #trackers emerge that try to trace shit - like #Chainalysis & #IntegraFEC.

So even if DNDLs sit on millions if not billions in Monero, they can't cash that out because even the shadiest of #Banksters in the most shady of Bank will ask "Where da money come from?" and will likely seize any funds that have no explaination.

• This is why even if someone had my IBAN & BIC and were to send me illicit funds, that would never show up on my account balance nor would I even get questioned about this TradFinance "dusting" attack because it would instantly get frozen by my bank, reported to FIU and unless I were to ask about it, everyone would rightfully know that I don't know cuz I'm not into that shit.

I stay on the legal side out of principle!

@maikel basically, it boils down to the few key features of #Monero:

1. #Anonymity & #Privacy: Unlike with any other #cryptocurrency (aka. #Shitcoins) it's not just pseudonymous in that there is no mandatory linkage between individuals & their wallets, but the entire transaction history and balance is hidden. Unlike say #Bitcoin or #Ethereum one cannot track the coins from the moment of mining to their destination.

2. Speed: Monero's network does mine one block every 2 minutes. After 10 blocks any transfered balance gets unlocked for spending. That means that a transfer is completed at worst within 6 minutes and the balance is being unlocked at worst after 24 minutes. This makes it faster than Instant-#SEPA which only has a 1 hour SLA.

3. #Fungibility: Like #cash all it's coins are equal, since they cannot be tracked. This makes Monero the digital equivalent of cash.

4. #Scalability & #Stability: Monero adaptively self-adjusts block sizes and mining difficulty based upon demand (transactions in it's mempool aka. requested transactions that have to be added to the blockchain) and supply (total blockchain hashrate). Unlike Bitcoin and Ethereum it has a fixed Tail Emission Rate of at least 0,6 #XMR (Monero) per block, so the miners solving it get at least 0,6 XMR (+ transaction fees), which is a longterm stable rate. Bitcoin and Ethereum will necessitate huge transfer fees once their last coins are mined to make sense, which will result in the crash of said cryptocurrencies as they'll be too expensive to trade!

5. Anti-#ASIC and focussed on #CPU|s of general-purpose machines: Whilst it does run on #ProofOfWork, it's specifically designed to run poorly on #GPU|s and not on #ASICs as the latter one are not just manufactured #eWaste but also inherently increase the centralization (with less than a dozen big miners controlling >50% of Bitcoin and Ethereum's hashrate respectably). Thus it's the "least worst" in that regard. #ProofOfStake is not possible due to it's privacy-based setup (#Staking necessitates a public balance) and unlike a #Shitcoin like #FileCoin it doesn't incentivize #hoarding components. (in this case: #HDD|s)

6. Accepted & Convertable: Whilst there is a concerted effort to ban Monero, there are payment processors like #NowPayments that accept Monero. It's low transaction fees and good speed make it useable in settings like Restaurants and Online Stores (sadly not retail, because it would need to be like 60x faster)... And even then it's easy to convert to/from Shitcoins.

That's the #TLDW of Whiteboard Crypto, Mental Outlaw and The Hated One…

And finally:

7. Monero gets continously developed and enhanced, whereas Bitcoin, #Litecoin and Ethereum don't even do proper #upgrades via #HardForks (see #EthereumClassic)...