how to use digital coin to buy stuff online?
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David O'Neil wrote:
But since those 'coins' can most definitely be traced
Can they? Last I heard, the best you can still do is associate a transaction with the wallets that were on both ends of it, but not who the respective owners are.
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David O'Neil wrote:
But since those 'coins' can most definitely be traced
Can they? Last I heard, the best you can still do is associate a transaction with the wallets that were on both ends of it, but not who the respective owners are.
According to this, and other items I've read, yes: [https://koinly.io/blog/can-the-irs-track-cryptocurrency/\](https://koinly.io/blog/can-the-irs-track-cryptocurrency/)
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
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The article makes a good point about a physical address still being needed to deliver goods, but suppose you're just transferring money (and that's all you use the wallet for). I'm not familiar with the process, but what's to keep one from submitting completely fake information when creating the wallet? It seems to me like every link that was ever made can still be tracked to some "external" thing someone made at some point, and not necessarily an inherent flaw in the system. Not that I believe the system is flawless. Merely curious.
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The article makes a good point about a physical address still being needed to deliver goods, but suppose you're just transferring money (and that's all you use the wallet for). I'm not familiar with the process, but what's to keep one from submitting completely fake information when creating the wallet? It seems to me like every link that was ever made can still be tracked to some "external" thing someone made at some point, and not necessarily an inherent flaw in the system. Not that I believe the system is flawless. Merely curious.
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Have heard it's risky to give credit card details to digital currency sites. No guarantee that it'll not be misused. There are many cases of cyber fraud, we hear daily.
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Amarnath S wrote:
Have heard it's risky to give credit card details to digital currency sites. No guarantee that it'll not be misused. There are many cases of cyber fraud, we hear daily.
Well that's the case with any web site, not just those that deal specifically in digital currency. Amazon has my CC details, and as much as I hate to feed the beast, I'd still rather buy through them than to give my CC details to 100 smaller sites who don't all have Amazon's resources to put together a system that can do online transactions securely. I've never dealt with bitcoins and such, and I'll keep it that way for as long as I can.
dandy72 wrote:
Amazon has my CC details, and as much as I hate to feed the beast
Amazon might be hacked but I consider the chance of them just deciding one day to start charging all the cards to the max, and then withdrawing funds and moving it offshore to be very small.
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I think it is also possible that the credit card company does not trust them (black list) and blocks transaction.
Probably. That's what happens when you are untrustable.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
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David O'Neil wrote:
But since those 'coins' can most definitely be traced
Can they? Last I heard, the best you can still do is associate a transaction with the wallets that were on both ends of it, but not who the respective owners are.
dandy72 wrote:
Can they? Last I heard, the best you can still do is associate a transaction with the wallets that were on both ends of it, but not who the respective owners are.
No government on the planet will willingly make themselves smaller with less authority. Not without a war being started. Money rules the world. So, you can rest assured, there will be a way if that way isn't already here.
Jeremy Falcon
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Well I'm not able to answer your question because my knowhow about that is too low. But perhaps they make some kind of identity check when a person is creating the wallet.
I went over a few more articles on the topic, and it very much sounds like, for all practical purposes, there's no way to get a wallet created without handing over some ID of some sort - countries have ensured those business entities cannot operate within their border without it. I've concluded the system has been compromised, no way around it. So virtual currency has lost its only real benefit. This has done nothing to help convince me I should get into it, even with any sort of promise to make any amount of money out of it...it remains a dead end to me. :-)
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dandy72 wrote:
Can they? Last I heard, the best you can still do is associate a transaction with the wallets that were on both ends of it, but not who the respective owners are.
No government on the planet will willingly make themselves smaller with less authority. Not without a war being started. Money rules the world. So, you can rest assured, there will be a way if that way isn't already here.
Jeremy Falcon
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I never tried to buy stuff online using digital coins. I downloaded the app Trust from app store and start to play around with it. any experience to share?
diligent hands rule....
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dandy72 wrote:
Amazon has my CC details, and as much as I hate to feed the beast
Amazon might be hacked but I consider the chance of them just deciding one day to start charging all the cards to the max, and then withdrawing funds and moving it offshore to be very small.
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dandy72 wrote:
Amazon has my CC details, and as much as I hate to feed the beast
Amazon might be hacked but I consider the chance of them just deciding one day to start charging all the cards to the max, and then withdrawing funds and moving it offshore to be very small.
jschell wrote:
offshore
Is there something called Offshore for Amazon? Amazon seems to be everywhere on earth. Perhaps even the top secret Swiss bank cannot hide their money.
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If they can't transact credit card info correctly, you'd trust them with 'coin'?
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
I like to take some risk since it is a small amount of money...
diligent hands rule....
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I like to take some risk since it is a small amount of money...
diligent hands rule....
My credit card company called me to ask about charges showing on my card. It was for doordash. I do not use any of those delivery services. They called because who ever was attempted something like over 100 charges in a short period of time. All presumably small.
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As cynical as you make it sound like, that is absolutely the truth. To believe overwise is just naive.
History has demonstrated the leaving money production in the hands of smaller organizations just does not work. The point of money is not as an investment. But rather to buy a loaf of bread. A economy cannot work if I buy a loaf of bread this week, then work for a week, and then next week a loaf of bread costs 5 times as much as last week. There is no way for a company to pay me because I expect to be able to buy a loaf of bread after I work. There is no way to deliver the bread, or to buy the ingredients for the bread, or to pay the cashiers at the store because they all expect to buy bread also. There are countries where exactly that happens. It is called hyper-inflation. And people stop using the currency where it happens. The fact that people can abuse the system is irrelevant. After all FTX, Terra Luna, etc all failed as well due to problems caused by people. But at least the possibility exists that a government might recover. Investing in actual currencies in the world is something that already occurs. And it has been happening for a long time. So the fact that one can change dollars for yen is not just a convenience for travelers but also a way in which legitimate investment can and does occur.
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I never tried to buy stuff online using digital coins. I downloaded the app Trust from app store and start to play around with it. any experience to share?
diligent hands rule....
I wouldn't bother with crypto currency, and playing around with it in the true Anarco Capitalist ways, since that sort of went out the window when Bitcoin dropped from it's high to the $17K level in 2023. Using Bitcoin to transfer funds, or moving cash out of your country to another is fine if that's what it takes to preserve your wealth from a poorly functioning Government or Central Bank, and high levels of inflation. Or if your buying illegal items from off shore for resale and you need to make payment, or simply send cash to a relative that lives in a more primitive economy that still values Gold and Silver over their failing currency. Regardless of the coin, or financial instrument if that's what you want to call it, playing with crypto is like playing with fire, and can lead to your financial distress if you don't know how it works and use it properly. But shopping with crypto was the intention of the Anarco Capitalist, where it never really panned out as crypto was sort of high jacked by other people who had different intentions, or found better ways to use it that I won't mention here in public. This is just my 2 cents, and I wouldn't transfer funds using a US card or US direct bank wire to a crypto exchange, just to shop online, and would instead use a credit card for direct payment to the trusted vendor or platform. I know there are Pro-Crypto folks here that disagree, but we should be able to agree that you need financial training first, before you enter this new world of finance. [What is Anarcho-Capitalism? Political Philosophy - YouTube](https://www.youtube.com/watch?v=J06S3AuKhes)
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Yeah, Amazon is infinitely less likely to do that than any small mom-and-pop shop on the internet, that was my point.
I think the real answer should probably be disposable one-use card numbers. Several banks have them. What it amounts to is the same as a keyfob for 2FA and like there, you can come by the data you need several ways (online, phone app, etc). But I also have prime and for much the same reasons.
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I think it is also possible that the credit card company does not trust them (black list) and blocks transaction.