this post was submitted on 24 Feb 2025
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Cybersecurity
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Yes, but Monero has a ton of privacy features that makes it infeasible to track transactions. Basically it makes a bunch of fake transactions, generates a bunch of wallets, etc, so an outside observer would need some very sophisticated techniques to untangle everything, if it's possible at all. The public ledger allows you to prove the transactions are accurate, not who made them.
As far as we know, Monero hasn't been compromised, and law enforcement would need the user's device to prove they made a transaction. Even having the device of someone they transacted with doesn't help.
Basically, it's as good as unmarked cash, but digital, and transaction fees are often less than a penny.
I don't buy anything illegal, I just really like the idea of digital, untraceable cash. It's none of the government's or a bank's business what I do with my money, even if it's just mundane stuff.