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this post was submitted on 18 Aug 2025
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Maybe I'm slow today, but what is this referencing? Most dark web sites use Monero. Is there some centralized token that people used instead?
Edit: Oh, I guess you're referring to Mt.Gox? I mean yeah, people were pretty stupid for keeping their bitcoin in exchange wallets (and sending it right to the drug dealers directly from there? Real dumb). That's always a bad idea. I don't think they transferred it there instead of something else, they just never took custody of the coins after buying them on the exchange.
Satoshi was right and Crypto absolutely has valid use cases. What if your government doesn't want you accessing meds you need at prices you can afford? What if your government doesn't like your sexual orientation, but you want a subscription to a dating site? What if your government throws up unjust export controls or tariffs that suddenly make you and your business impossible?
Crypto's best killer use case is uncensorable, untraceable money
Bitcoin is neither of those things. There is a reason people buy heroin with Monero. It actually does what crypto is supposed to do, which means it could safeguard your Grindr XTRA subscription.
Yeah Monero is just cool, tech-wise
I think it refers to custudial wallets and that it's hard to obtain the useful coins without a KYC exchange (that also most often works as a custudial wallet).