TorrentGalaxy Pleads Financial Difficulties, Asks Users to Chip In (torrentfreak.com)

submitted 6 days ago by TheImpressiveX@lemm.ee to c/piracy@lemmy.dbzer0.com

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[-] db0@lemmy.dbzer0.com 45 points 6 days ago

Soliciting donations and using fucking bitcoin of all things is mind blowing to me. How are you gonna get your money out without everyone tracing you?

[-] crazyminner@lemmy.ml 6 points 6 days ago

Could you not do BTC to XMR then to w.e else after that? And if youre donating you should do XMR to BTC.

[-] Chewy7324@discuss.tchncs.de 16 points 6 days ago

Another problem with BTC is the extremely high transfer costs. Donating XMR directly makes smaller donations viable, while BTC is only attractive for large donors.

[-] uxellodunum@lemmy.ml 2 points 19 hours ago

Not exactly. Lightning makes it super cheap and instant.

[-] Chewy7324@discuss.tchncs.de 1 points 17 hours ago

Interesting. I thought Lightning was a fork like BTC Cash, not a feature compatible with BTC itself.

On another note I just noticed it's gotten harder to buy Monero in the EU, at least Kraken no longer offers them (damned money laundering, sadly the laws are necessary). Luckily thanks to legalization I no longer use it.

[-] uxellodunum@lemmy.ml 2 points 10 hours ago* (last edited 10 hours ago)

Lightning is indeed NOT a fork of a Bitcoin, it's essentially a Layer 2 for Bitcoin (if you think in terms of the Internet's TCP/IP model). It solves pretty much every use case created by any Altcoin when competing with Bitcoin, as Bitcoin chose security and decentralization over scalibility in its base layer (on-chain).

As for buying Monero, I only deal with Bitcoin, but I'm pretty sure you can easily buy Monero still as long as you don't use centralised exchanges (permissioned), and instead use Decentralised ones (permissionless). That'll be the case for any altcoin that still has decent popularity for the foreseeable.