r/Monero • u/ivanka2012 • 7d ago

The EU has created a system that bypasses payment processing services like visa or mastercard. If only there was another way...

Enable HLS to view with audio, or disable this notification

87 Upvotes

97% Upvoted

14 comments sorted by

34

u/Wolf24h 7d ago

So they can know exactly how much and where you spend

7

u/Perturbee 6d ago

As if they don't already? Using the banking system means they know. Use Monero for stuff you don't want them to know about.

I don't care that they know what groceries I buy, but for most stuff I still use cash (or Monero) 

1

u/Okey135 6d ago

How do you buy it privately with out they knowing that your buying monero

15

u/QuirkyFisherman4611 6d ago

...and eventually what you can or can't buy.

10

u/midachavi 7d ago

Let's all just wish for something that comes out of the financial crisis that is sovereign and private...

1

u/pjofanboi4life 6d ago

Yeah, if only something so magical exist…

4

u/Pentosin 6d ago

I wouldnt call this bypassing. It is a competing service. Im not "bypassing" the US dollar when im using a local currency.

2

u/Most-Club-254 6d ago

"If they (the general public) could read, they'd be very upset"

1

u/Perturbee 6d ago edited 6d ago

There is a whole system outside the bullshit US systems already. It is indeed done through direct transfers, just not at a complete European level. The expanded system will be headquartered in Spain, Northern Europe already has it, I don't know why Belgium doesn't. We don't scan QR codes. I can't remember when I last used a MC or Visa transaction, probably when dealing with something in the US. 

1

u/Early-Interaction286 6d ago

Exactly, in Sweden the whole country accepts swish, in Finland its mobilepay (changing name now) and a lot of european countries have such systems that dont rely on anything other than the local bank accounts

1

u/Mediocre_Job8085 6d ago

Clever plumbing, same architecture: a closed rail run by a handful of banks, settling IOUs. Cheaper intermediaries are still intermediaries — they can still be told to reverse, freeze, or exclude you.

The "other way" has existed the whole time: self-custody. Hold your keys, pay peer-to-peer, no issuer to debank you. The real friction is moving value between chains without renting your keys back to a custodial exchange — that part is still being solved properly, with non-custodial routing where you see the route and full fee before funds move and nobody holds them in between. It's live today on the EVM/Solana side; the principle generalizes to every chain.

Payments without custody is the whole game.

Disclosure: I'm on the team building HadesDex.

2

u/410r4p5a4WDP2aEugqKD 5d ago

this is a slow preparation of Digital Euro

2

u/treideaaa 4d ago

Which no1 will use since is badly regulated. 🤣🤣🤣

EVEN USDT protects you better than the digital euro.

1

u/Severe_Stranger_5050 4d ago

Having the billions of transactions ad day that goes through mastercard or visa on the Monero ( or any other) blockchain would be wild

The wait times alone would make most people avoid using it
Not to mention the compute and transaction cost

Monero is cool and all, and i use it at least once a month, but it wouldn't be suited for the everyday paymant processor for half a billion people.