41–50 of 116 posts
Earlier quoted context omitted.
Monero has been used and proven for over a decade. No one wants to switch to some unknown tech with an unknown development team.
How much of the Monero development team is actually known? Last I checked some of their core team were anonymous but that might have changed
Adopted and used first by darkweb pot dealers, like Bitcoin was.
Price supressed by government and banking hostility, like Bitcoin was.
Great article, and I'm glad to see privacy being a focus in a cryptocurrency, but I would like to see some other sources that aren't also promoting the token. That said, I do think it's got the brightest future of any coin besides BTC for the very reason.
Preface this by saying I am not a fan of any cryptocurrency, but I really struggle to understand why Monero has a smaller market cap than BTC. It has to be inertia related right? Monero just seems like a fundamentally better piece of technology. Are there scaling issues with Monero, similar/worse than BTC?
After this is implemented, it will really strengthen its privacy. It will take a few years of development, iteration and planning. Move slow and... don't break things?
If the US debt problem leads to capital controls, using Monero will become a federal offence overnight. Might as well call it money-laundering coin.
> Might as well call it money-laundering coin The state's concept of money is private and it has just enjoyed help in getting data about electronic ledgers for the last 55 years, by deputizing banks. And for the last 18 it has also enjoyed public ledgers of crypto currencies. But the successful stigma of financial privacy doesn't invent its right to having data. This is just a privilege, and private money is a revers…
The rumors that people bought Trump-coin for the sole purpose of currying favor got to me.
Earlier quoted context omitted.
> Might as well call it money-laundering coin The state's concept of money is private and it has just enjoyed help in getting data about electronic ledgers for the last 55 years, by deputizing banks. And for the last 18 it has also enjoyed public ledgers of crypto currencies. But the successful stigma of financial privacy doesn't invent its right to having data. This is just a privilege, and private money is a revers…
I long used to think that private money was a good thing for freedom helping the little guy living under state repression, but I'm recently starting to worry that it will do the opposite, by helping the ultra-rich engage in corrupt schemes. The rumors that people bought Trump-coin for the sole purpose of currying favor got to me.
So its fine to feel disillusioned from that goal because it was a misplaced goal.
Monero on the other hand is private by default, and you can disclose transactions. It has optional auditability. This is a power dynamic I can appreciate.
Earlier quoted context omitted.
Preface this by saying I am not a fan of any cryptocurrency, but I really struggle to understand why Monero has a smaller market cap than BTC. It has to be inertia related right? Monero just seems like a fundamentally better piece of technology. Are there scaling issues with Monero, similar/worse than BTC?
Isn't BTC privacy achievable these days with coinjoin, lightning network etc.? In that case no much reason for monero.
The only way to get BTC-like guarantees of no double-spending for Lightning network transactions is to put every transaction on the BTC block chain ("close the channel" after every transaction). And then, of course, you get back all of the problems of BTC (minuscule TPS not enough for a small village, 0 privacy, huge energy costs).
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No I think money laundering is when you knowingly mix proceeds of crime, obscuring it. Like if I make drug dealing illegal, then require drug dealer to pay taxes. And then take the tax money, and conceal and intermix it into the form of the value of the 8th street bridge to cross the creek.
I can exempt myself from the $10k deposit/withdrawal/structuring rules at the bank by affirming to them that it's not the proceeds of a crime? If a cop decides to take the $300 out of my wallet, I just state "that's not drug money" and he has to give it back then and there?
Keep in mind that I can lose the money without a conviction, trial, or even being charged, so I don't think this has anything to do with it being the proceeds of a crime.