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0 mXMR \ 1 reply \ @shortwavesurfer2009 27 Sep freebie \ on: Decentralized Monero Liquidity: What exists and whats to come monero Substash

I love how you bring up that something like retoSwap is necessary for fiat to Monero because there is no way to cryptographically prove a transfer from a bank or an envelope full of cash.

If you have any cryptocurrency at all, then getting Monero from that cryptocurrency is not particularly difficult. If you have nothing but fiat and have no cryptocurrency at all, getting Monero is harder because there is no trust in fiat.

For what it does of getting Fiat to and from Monero, RetoSwap does incredibly well.

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0 mXMR \ 0 replies \ @OldNorseAnarchistflame 27 Sep freebie

There's actually a ton of trust in fiat, but that system of trust is also backed by the enforcement of the banking cartel. Have you heard of the Eurodollar System? Popularized by Jeff Snider in discourse, it's a system by which banks create and transfer US dollars outside of the US regulated banking system. It's estimated to be larger than the US regulated banking system and it has little to no outside visibility into it by the public or gov. When they switched LIBOR for SOFR it killed a lot of the valuable information about the Eurodollar market contained within LIBOR.

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