this post was submitted on 31 Oct 2024

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Monero

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Is this how plausible deniablity works in XMR? (monero.town)

submitted 2 days ago by NoobFromXMR@monero.town to c/monero@monero.town

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say someone asked you to open your wallet and asked you where your funds came from, can you just say that you mined it? since XMR cant be trace afaik

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[–] Wave@monero.town 2 points 2 days ago (1 children)

subject to income tax

there would be no taxes

That depends on the laws of where you are.

[–] Varyk@sh.itjust.works 2 points 1 day ago* (last edited 1 day ago) (1 children)

that's correct!

different states and countries often have different laws, which determine their income tax regulations and necessarily all of their other ordinances.

[–] NoobFromXMR@monero.town 2 points 18 hours ago (1 children)

but i guess at the end of the day, you are innocent until proven otherwise, and since monero cant be track the worst case that can happen to you is that government will seize your monero?

[–] Varyk@sh.itjust.works 1 points 18 hours ago

I don't know by what right? or legal process they would seize your monero unless you admitted to it being yours and personally sent them the XMR, but yeah, at the moment, xmr being entirely fungible means that it's basically the same as cash.

it comes from where you say it comes from.