A) What are you trying to accomplish with this strategy?
B) How are you acquiring and p2p trading the shitcoins without leaving an on-chain trace?
Discussion
Maybe they're a clown that thinks Monero is a shitcoin but at the same time it has powerful enough privacy to trick the IRS 🤡
I don't doubt Monero's privacy. In fact is so private the supply can't be audited, which is a big problem. Also, from my understanding, Monero is quite well established in darknet markets, so the waiting for shitcoin to die part doesn't feel realistic in that specific case.
YEAH I REALIZE THERE ARE PLENTY OF RETARDS AND THAT SOME OF THESE PROJECTS WILL BLEED OUT MAYBE FOR DECADES. GUESS ID WANT TO AVOID ETH XMR XRPEE AND OTHER SHITCOIN-RETARD-CULTS
I'D USE MONERO IF NEEDED. BUT MONERO DOESNT STORE VALUE DOES IT FREN
Remains to be seen. So far it doesn't store value against Bitcoin, which so far doesn't store value against doggie coin.
RIGHT BUT DOGGIE COIN HAS ZERO FUNDAMENTAL VALUE BESIDES THE RETARD ENERGY THAT BACKS IT. YOU BETTING YOUR FINANCIAL FUTURE ON DOGGIE COIN?
1. Yes I am backing my financial future on doggie coin
2. Doggie coin's fundamental value is being less ossified at a less shitty state than Bitcoin, which is extremely ossified in a highly unusable state
*betting not backing
I USE BITCOIN DAILY WITH NO ISSUES. DOGGIE COIN IS A MEME. GOOD LUCK
If you were doing this for long enough to be using Bitcoin daily you'd know it's pretty much unusable since most people will never be at that level.
And neither are you, since you don't know that - you must actually just be using the "lightning" shitcoin daily, not Bitcoin.
LMFAO YOU CANT MEMORIZE 12 WORDS? CANT SEND A UTXO? WAAAAA ITS TOO HARD WAAAAAA GIVE ME CNETRALIZED GARBAGE INSTEAD DADDY ELON I'M TOO DUMB FOR BITCOIN!
LOL. Whoever loves HFSP.
Did you have a stroke halfway through this?
NO TARD HE'S REFERENCING YOUR NAME 🤣
I FORGIVE YOU FOR BEING STUPID BUT NOT FOR BEING WILLFULLY IGNORANT
I GET IT, BELIEVE ME! BITCOIN IS FRUSTRATING. BUT YOU *HAVE* TO DIG FURTHER BEFORE YOU DECIDE. YOU ARE A BITCOIN NOOB AND THATS FINE. LEARN WITH ALL OF US RATHER THAN GETTING TURNED OFF BY THIS REVOLUTIONARY TECHNOLOGY
TRYING TO NOT BE A TARGET OF THE STATE
I WOULD ACQUIRE IT KYC AND WAIT FOR THE SHITCOIN TO DIE. WHAT PROFIT ARE THEY COMING AFTER ME FOR? SHITCOINS DONT HAVE PROFIT UNLESS YOU ARE VC OR LUCKY
I still don't understand. Are you planing a fiat-shitcoin-fiat trade, a Bitcoin-shitcoin-fiat trade, a Bitcoin-shitcoin-Bitcoin trade, a shitcoin-shitcoin-bitcoin trade?
I get the part of buying KYC and selling p2p, you might be able to arbitrage the spread for gains (you'd probably need to use bots to make sure your transactions are fast to not lose on the price action).
Still, there will be a trace of shitcoin in from KYC exchange, shitcoin out somewhere else. You can argue you just sent it to another wallet you control, but then you'll need to prove you control the other wallet. If you use chains that use a wallet model "à la Ethereum" then it's even worse than a utxo model for that matter.
If you're thinking on how to avoid taxes, don't think about what the gov can or does today, but what might do/will be able to do in the next 10-20 years. As adoption increases and computation gets cheaper those traces will be traces will be trivial to follow by taxmen bots.
Just my 2 sats
IT WOULD BE USD-SHT-BTC
BUT OBVIOUSLY KYC-FREE IS THE WAY. JUST HAVING A RETARDED THOUGHT EXPERIMENT DONT MIND ME