minsc__and__boo (u/minsc__and__boo)

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

gpcr1949 · 4 years ago

have not used kraken, but the convenience i am talking about is that someone who has never used any cryptocurrency and does not hold any, can simply walk in there with cash and have monero a minute later, ready to use. but it is true that for many people that convenience is not worth a whole 10%, especially if they somewhat know what they are doing.

minsc__and__boo · 4 years ago

IIRC, bitcoin ATMs do not set up wallets for you.

You still need to create a wallet, key, etc. and that is not easy to do for beginners without an exchange like Kraken. Most DNMs use temporary addresses so it's not a good idea to try to transfer directly from a bitcon ATM to a DNM.

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

McAtNite · 4 years ago

Monero itself is not KYC, sorry if I worded that poorly above.

The transactions to and from Kraken can definitely be tracked since they would have a record of the actual wallet address you sent your funds to. As for things that happen after that money hits your wallet - you’re right they wouldn’t be able to track it.

I checked the Monero subreddit just to see if my understanding of it tracked with what people who actually own it say and it looks like they agree that transferring from a KYC exchange does allow tracking for transactions coming out or into the exchange.

https://reddit.com/r/Monero/comments/ppcusq/moving_funds_bet...

minsc__and__boo · 4 years ago

I didn't say Monero is KYC.

I also didn't say you transfer directly into Kraken. Instead, you would use at least 1 or 2 other wallets before transferring into Kraken, because that bypasses their scanning.

Kraken is still cheaper while doing that than paying a 10% fee for an ATM.

minsc__and__boo commented on · Posted by u/tparmar

minsc__and__boo · 4 years ago

Hard paywall, doesn't work with archive or outline.

Text available on Google cache:

http://webcache.googleusercontent.com/search?q=cache:VhqweeF...

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

McAtNite · 4 years ago

My understanding, and this may be wrong since I don’t actually have Monero, is it’s not since US customers are subject to KYC. While the transaction on the blockchain would be obfuscated, the Exchange as the sender/receiver would still have the withdraw and deposit addresses since they were one of the parties of the transaction.

Further transactions after withdrawing would be difficult to discern, but an exchange could be used to track an approximation of how much Monero you own.

A cash based ATM purchase would be more difficult to track since no KYC is involved.

minsc__and__boo · 4 years ago

It doesn't matter if Monero is used with KYC - transactions are obfuscated.

That means the transactions can't be traced to your KYC wallet on Kraken, meaning you're spending 10% on an ATM for no reason.

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

KirillPanov · 4 years ago

Law enforcement can laugh at you when asked to track those bills...

minsc__and__boo · 4 years ago

https://en.wikipedia.org/wiki/United_States_Secret_Service#I...

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

thebean11 · 4 years ago

If you can lose your currency by forgetting a password or using the wrong device then you set things up incorrectly IMO. There are good ways of doing things where your keys stay on a device, or are only exposed to an offline machine with no network or persistent storage.

Obviously it gets a little more technical, that's why services that manage the keys for you are so popular.

minsc__and__boo · 4 years ago

>then you set things up incorrectly IMO

That's precisely the problem with crypto though - most problems get blamed on the user, and not highlighted as the deficit it is for the crypto.

minsc__and__boo commented on Kraken Security Labs Identifies Vulnerabilities in Commonly Used Bitcoin ATM blog.kraken.com/post/1126... · Posted by u/2bluesc

gpcr1949 · 4 years ago

Interestingly, my location has some monero ATMs that take cash, and the 10% or so fee (and apparently - various vulnerabilities) seems well worth it for what is by all measures a quite low effort hands-off way to get money that is quite anonymous, at least for most low key purposes, such as small recreational drug orders etc.

minsc__and__boo · 4 years ago

Aren't Monero transactions completely obscured anyways?

It doesn't make a difference if you using a Bitcoin ATM or transfer to your Kraken account (except a 10% fee for the former).

minsc__and__boo commented on Google keeps records of everything you buy, even if you delete the email receipt mastodon.social/@gerowen/... · Posted by u/decrypt

prepend · 4 years ago

That’s funny, I wondered why Amazon order emailed sucked so hard lately. Thought it was just them being dumb.

I liked getting an email with the item, price, shipping, etc. Now it’s just an order number and shipping notice and I have to click on the order to figure out what items are coming. Particularly fun when I order 6 items and they get split into 6 shipments. Or just trying to keep track of my dozens of Amazon orders.

I switched to Walmart as they send useful product updates.

minsc__and__boo · 4 years ago

>That’s funny, I wondered why Amazon order emailed sucked so hard lately. Thought it was just them being dumb.

It's the opposite.

Amazon wants you to click back into the store to buy things. One way to do that is forcing you to view orders in the store instead of your email inbox. They care more about that than Google seeing your purchase history.

minsc__and__boo commented on Google keeps records of everything you buy, even if you delete the email receipt mastodon.social/@gerowen/... · Posted by u/decrypt

function_seven · 4 years ago

Amazon's order status emails ("Shipped", "Out for Delivery", etc.) used to show the items in the order and how much I paid for them. They stopped doing that[0] last year presumably because of evil behavior like this.

[0] https://mjtsai.com/blog/2020/06/01/unhelpful-amazon-order-co...

minsc__and__boo · 4 years ago

I can almost guarantee Amazon dropped the item details from their emails in order to get you to click back into the store.

minsc__and__boo commented on Hospitals lift curtain on prices, revealing giant swings in pricing by procedure healthcaredive.com/news/h... · Posted by u/paulpauper

breckenedge · 4 years ago

FWIW I pay mine in cash from my HSA because he doesn’t accept any insurance due to the headaches involved getting reimbursed.

minsc__and__boo · 4 years ago

That's fair but for people without HSA they should still file a claim against maximum out of pocket.

u/minscandboo

KarmaCake day467February 1, 2021View Original