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The Criminal Underworld Is Dropping Bitcoin for Monero

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Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#12
post #8
post #6

Called it (in a rather verbose comment 11 days ago). TLDR: BTC - the mob came, the mob went - XMR https://news.ycombinator.com/item?id=15993110

Interesting... two downvotes, no comments. I'd love to know why. Did I come across as snarky? If so, didn't mean to. It's just the timing of this article is so close to my prior speculation on this that I thought it warranted a mention.

I didn't downvote you.

Your comment provides little new information and looks like bullshit. Lots of people are predicting bitcoin's fall. For lots of reasons. People can rarely time the markets, I'd expect strong evidence otherwise.

Do you track all your predictions?

Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#13
post #9

> Its main competitor, Zcash -- which isn’t known to have a significant criminal following -- can offer even better privacy protection . On zcash, there was this discussion: http://jeffq.com/blog/on-the-linkability-of-zcash-transactio... which suggested that nearly 31.5% of the hidden transactions in Zcash has some transparent parts to it.

"Still, Princeton University researchers recently developed a tool that helps them analyze Zcash transactions at least to some extent -- but they haven’t been able to crack monero. "

Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#14
post #4

monero has become popular in this space, but the average (illicit) user is still probably making operational mistakes while buying, using, and selling it. in the case of monero a lot of people like to skip the step where they download a 30GB+ blockchain over tor, and I can't blame them. when the privacy-oriented cryptocurrencies are effortlessly private, that's when they will have arrived so to speak. I'm fairly opti…

MobileCoin might be an amazing user experience, but the odds of Facebook choosing to implement an external blockchain as a currency is pretty much nil as far as I'm concerned.

If it does work, FB will simply reimplement it with a Facebook pre-mined set of coins before launching.

Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#17
post #9

> Its main competitor, Zcash -- which isn’t known to have a significant criminal following -- can offer even better privacy protection . On zcash, there was this discussion: http://jeffq.com/blog/on-the-linkability-of-zcash-transactio... which suggested that nearly 31.5% of the hidden transactions in Zcash has some transparent parts to it.

[deleted]

Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#19
post #10
post #9

> Its main competitor, Zcash -- which isn’t known to have a significant criminal following -- can offer even better privacy protection . On zcash, there was this discussion: http://jeffq.com/blog/on-the-linkability-of-zcash-transactio... which suggested that nearly 31.5% of the hidden transactions in Zcash has some transparent parts to it.

re: only 3.5% of traffic using z-addrs: The dirty secret of crypto is that there is almost no economy that exists for any of the altcoins, and relatively little even for Bitcoin (which functions as the reserve currency due to its lions' share of the economy). Effectively, by volume most altcoins are held by either miners (who sell immediately), or daytraders who will pump and dump. A very small fraction is held by tr…

That’s not a secret, evidenced by the relentless reminders in every HN crypto post comment section.

I can’t argue with the value of these reminders, though.

Re: The Criminal Underworld Is Dropping Bitcoin for Monero

#20
post #10
post #9

> Its main competitor, Zcash -- which isn’t known to have a significant criminal following -- can offer even better privacy protection . On zcash, there was this discussion: http://jeffq.com/blog/on-the-linkability-of-zcash-transactio... which suggested that nearly 31.5% of the hidden transactions in Zcash has some transparent parts to it.

re: only 3.5% of traffic using z-addrs: The dirty secret of crypto is that there is almost no economy that exists for any of the altcoins, and relatively little even for Bitcoin (which functions as the reserve currency due to its lions' share of the economy). Effectively, by volume most altcoins are held by either miners (who sell immediately), or daytraders who will pump and dump. A very small fraction is held by tr…

> traders mostly don't need to be anonymous.

Not sure I follow -- you suggest exchanges should send out who placed an order in the book, in addition to the price, amount, order type, etc.? Wouldn't that be a massive breach of privacy? Or are you not talking about exchanges?

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