Quote from: Medusah on Today at 06:30:05 PM

Perhaps it's because they find it easier to shut down companies? Lol. Are you seriously asking why they'd target a company instead of Bitcoin, which is like a billion times more challenging to shut down?

Shutting down Bitcoin would be a simply matter of throwing some money at the problem. Shutting down Citibank would require a legal fight. I think both of these scenarios are very, very far-fetched, but based on the track record, I would believe my money to be safer at Citibank than in Bitcoin (and of course that's assuming I have round-the-clock armed guards protecting my keys--the reality is that most rely on an institution that is smaller and far less safe than Citibank to hold their keys).

Quote from: legiteum on May 12, 2024, 09:51:17 PM

I agree Haypenny can be attacked, but so could anything.

Why should I use bricks to build my house instead of just wood? After all, you can break both. Roll Eyes

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As I said above, Bitcoin is, as a whole, probably easier to attack than a large American bank. And in the average reality of a typical holder of Bitcoin, mostly a LOT easier since it could be some sketchy broker--or worse, somebody doing something stupid with their private keys like putting them on their iPhone with a password.

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That's why they are cracking down mixers and other privacy services: they are central points that can be shutdown easily. What actions have governments taken against Monero? Despite being infinitely superior to any mixer, it continues to operate smoothly. Here's a hint: Monero operates in a decentralized manner.

Yeah, getting into a direct fight with the world's governments doesn't sound like a good long range strategy to me. I would never invest in Monera for that reason. Even a medium-sized government could shut them off if they wanted to, and they wouldn't need a court order to do it and in fact nobody could do anything about it.

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Therefore, Haypenny functions as long as it complies with the laws of its country. The difference with cryptocurrencies is that they operate independently of any country's laws.

The minute you trade Bitcoin for anything actually tangible or for a sovereign currency, you are in the same position.

Here's a handy chart:

Haypenny currencies: Protected from criminals, marketers, your snooping friends, and hackers; not protected from a valid government subpoena.

Monera: Protected from everybody.

Bitcoin: Open to criminals, marketers, your snooping friends, hackers AND governments even without a subpoena.

If you fear government prosecution you have to use Monera or something like it. You basically have no choice.

You are far better off using a Haypenny currency from a privacy perspective than you are with Bitcoin in either case.