A "Cryptocurrency swapper" is a service that swaps one type of cryptocurrency for another.
It is basically the same as buying and selling from exchanges for fiat, except that you only get fiat.
Swappers are in general able to receive send coins from any address, including self custody addresses.
Centralized swappers were a good way to workaround the endless Monero bans from exchanges circa 2024, e.g. x.com/cirosantilli/status/1771900725649371240 as they effectively serve as proxies for exchanges that are still legal in other countries.
They will eventually have to ban Monero of course, and then the only way left will be descentralized swappers.
This leads to a scenario where the only effective way to ban Monero is to also ban all other cryptocurrencies. The question is if countries will go that far or not.
Test buy 2023-04-10 in the UK:
  • fee: 0.99 pounds, minimum buy: 1.99 pounds
  • bought 10 pounds, minus 0.99 fee, totalled: 0.00039162 BTC (£8.92) presumably after further fees/spread
  • bitcoin price on Google on that day: 22,777.54 GBP / BTC
  • bitcoin transaction fees were about 2.7 BTC on that day
Sending 5 pounds to wallet 12dg2FaiZLp3VzDtLvwPinaKz41TQcEGbs
  • network fee: 0.00001989 BTC
  • total bitcoin cost: -0.00023928 BTC
  • new balance: 15,234 satoshi (39,162 - 23,928).
  • total spent: £5.45
  • time est.: about 30 minutes
This worked and I received 21939 satoshis (23928 - 1989) on Electrum on one of the outputs of transaction 1177268091cbeaacbcaac5dc4f6d1774c4ec11b4bcffafa555cd2775eafb954c.
Sending 1 satoshi back! The lowest fee in Electron is 1120 Satoshis targeting 25 blocks (4 hours). Let's do it. Failed, server forbids dust, minimum is 1000 satoshi. OK, sending 1000 satoshi, at 1139 fee.
The first Bitcoin exchange. Coded as a hack, and they didn't manage to fix the hacks as the site evolved in a major way, which led to massive hacks.
Their creation is clearly visible on the archive history of bitcoin.org: web.archive.org/web/20100701000000*/bitcoin.org which started having massively more archives since Mt. Gox opened.
Video 1.
One Mistake Brought Down This FBI Most Wanted Hacker by Crumb (2023)
. Source. Good overview of Mt. Gox.
Interesting dude.
Some analysts seem to suggest that the things she said were bad.
But they're not.
They're a rare example of someone with some power saying cool honest stuff that comes across their mind.
Unlike the endless mandatory corporate bullshit we usually get otherwise.

Articles by others on the same topic (0)

There are currently no matching articles.