Monero

On Sept 26, Monero is planned to hardfork. The price right now is growing as the news spreads. No more needs to be said.

Other urls found in this thread:

reddit.com/r/Monero/comments/6yuv2s/psa_users_solominers_exchangesmerchantsservices/
xmr.noctism.com/
en.m.wikipedia.org/wiki/Liberty_dollar_(private_currency)
en.m.wikipedia.org/wiki/E-gold
reddit.com/r/Monero/wiki/comparison
moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php
twitter.com/SFWRedditVideos

>tfw bought at 47.5

>tfw buying a coin that will slowly die instead of XVG

nothing changes through, right? since it just enforces the new rules that all the updated clients now use already?

>Price more than doubles in a month
>Dying
>Dogecoin fork shitcoin taking over

Yep, enforcing privacy settings and some performance upgrades

HUGE update, the whole darknet will use monero

I love Monero but no money

Over priced going to crash

you got sauce on that OP?

reddit.com/r/Monero/comments/6yuv2s/psa_users_solominers_exchangesmerchantsservices/

It seems a lot of the miners are getting on board with this, do you think a second coin will result from the fork?

Sept 16 not 26. Here's the countdown xmr.noctism.com/

It is designed to hardfork like every six months or whatever. This is not a bad thing.

the price doubled so they could sell before the fork.

No. This is a regular thing for Monero.

Only religious bitcoin maximalists tell you hard forks are bad because being the oldest un-forked chain is all that bitcoin has going for it. They change the protocol with hack jobs and "soft forks" so they can get tiny upgrades and pretend bitcoin is still holy.

At this point if Bitcoin took over world finance it would be as bad as the current system but whales don't care because they'll be rich.

I have a few monero on the exchange. Are they safe there?

They will not be affected by the fork. They are still vulnerable to hackers/exit scam.

>implying frequent hardforks are a good thing
anything to distract from the fact that bitcoin is solving its scalability problems

Hardforks are a necessity to make major upgrades to the codebase. It's dishonest to imply that anyone is saying "hardforks are a good thing," when what they are saying is that the major upgrades have been a good thing.

Only institutions on the level of banks will be able to transact on chain. Everyone else will have to use (((lighting network))).

How useful is monero for stuff like tax evasion, money laundering etc.?

If it is useful for that kind of thing, how much of it is already going on? What % of monero volume comes from those sources?

If it is useful for those purposes but potential users haven't caught on yet, does that mean it's likely that a lot of money will flow into monero once they realise how well suited to it it is?

What does it mean for law abiding citizens using monero for legitimate reasons?

>Hardforks are a necessity to make major upgrades to the codebase.
Can't they just change the codebase in a way that it can evolve without a hardfork?

>How useful is monero for stuff like tax evasion, money laundering etc.?
Very useful.
Wikileaks, Snowden, and ISIS would all use it.

>What % of monero volume comes from those sources?
Nobody knows.

>If it is useful for those purposes but potential users haven't caught on yet, does that mean it's likely that a lot of money will flow into monero once they realise how well suited to it it is?
Yes. No Anoncoin has been widely adopted yet, or otherwise market cap would (at least) be in the tens of billions.

Sometimes, and they do make these changes, just as Bitcoin or any other distributed/deployed software does, but not always.

Think about it this way, let's say I want to upgrade my computer's graphics. So what I do is go out to the nearest store and buy a new graphics card. It's the same slot type as my motherboard, so there's no issue here. But what if I want to do some really complex calculations? I do some research and it turns out that not only do I need a new CPU that requires more power than the slot in my motherboard can deliver, I also need two of them, requiring a new type of motherboard altogether.

Monero is like the pedo-coin right? Aren't governments just going to ban it? And anyone buying Monero would only be buying it for nefarious purposes so you'll be put on a list.

Yeah, just like when governments banned TOR, torrenting, P2P chat, and encryption.

long term no vendor has any incentive to accept Monero over something more mainstream.
That will leave only two people in the owner pool, speculators and criminals. Once the criminals realize the only way to dump value out of shitcoin is to go through a heavily government monitored channel they'll see it has no value over BTC. speculators won't see any returns and it will turn into a ghost coin.

>Aren't governments just going to ban it?

Just look at Mexican drug cartel alone, they move tens of billions using cash. If they simply adopted monero they would no longer have to do elaborate schemes involving hiding stacks of 100s inside the body panels of trucks and can just send a monero transfer with the click of a button. Btw monero marketcap is only about $2b the drug cartel is easily in the 100b range. Do the math what this is going to be valued at.

I get that drugfags will use Monero.

What I want to know is will these guys use it?

The problem is you can't just buy Monero you have to buy Bitcoin then Monero that's what's keeping everybody from actually using it to launder and all that shit.

so anyways what will be the name of this new coin after the hard Fork?
Will all holders of Monero be holders of this new coin?

The whole point of cryptocurrencies is that they're supposed to be censorship resistant. If the government doesn't want to ban something there's not point using a blockchain because blockchains are inefficient compared to a centralized ledger.

It doesn't matter whether it's for pedos or coffee, the government isn't going to just let people create their own currency.

dont they have a localbitcoins version for monero now??

Koreans can buy directly for Won. Only lazy round eyes missing out.

There are two so far I think. We'll see if either becomes dominant.

Localmonero.co
Moneroforcash

>no vendor has any incentive to accept Monero
Interesting crystal ball you have there. I'll name a few industries that would have incentive to accept Monero: adult entertainment, legal marijuana, weapons industry, medication, psychological treatment, other medical treatments, online shopping.

if monero was the first bitcoin it'd make more sense but I see no reason for mainstream adoption.
there will be low liquidity and it will be easier to use BTC any legal institution accepting it would be required to ID purchasers, completely destroying the point of the anonymous coin.

I own 4,000 monero on Polonex. How will they handle the hardfork? will they list the Monera classic next to my Monero?

>any legal institution accepting it
Why is that people use superfluous, legalese language in discussions? Businesses don't require ID, there is no reason to think that they would require ID. You're making a claim, and using that claim to justify your next claim. Try justifying the first one, first.

what about a giant p2p marketplace like open bazaar......couldn't that have massive implications for monero??

if you're buying a gun or marijuana in a legal transaction, why not just pay cash or use bitcoin? answer me that.
I might be able to see some value in a company like Silk road accepting Monero.

There's no reason for bitcoin mainstream adoption except for hype and bubbles. Bitcoins lack of privacy ruins it's censorship resistance, making useless and basically worthless.

Monero has a path to mainstream by being the currency for all illegal transactions. In any place where the government makes too many rules (eg price controls, capital controls) that would make Monero very mainstream. Then you get the flow on effect of people who want to deal with those people dealing in Monero and eventually everyone just uses Monero.

But that isn't what you stated. You stated that "legal institutions," whatever that means, would be required to use ID. That is an unreasonable assumption, in my country it's actually against the law (4th Amendment) to make a law like that (USA).

>buying a gun or marijuana in a legal transaction why not pay cash
See, what you're doing here is trying to force me down a very specific path where we talk about controlled substances, which is dishonest, so I will ignore it.

Among coins, BTC has the most valuable thing for adoption, and that's momentum. I actually think ETH will overtake it but I'll ignore that point for now.
No one cares about privacy, just look how many people have snapchat, facebook, and instagram.
The valuable properties of BTC are:
[[[commonly accepted]]]
low transaction costs
fast transaction speed
decentralized power (no account holds)
disinflationary


The only property that Monero has that BTC doesn't is the thing no one cares about. Why can't a cartel just use bitcoin to do their bidding?

see there's an issue there. If it really is useful for those purposes... why isn't it being used for those purposes?

Monero has had dnm adoption in the past, sure, but like you said, if anyone was really using it for the things it seems to be so useful for, then it should be worth a lot more. What's going on? Is it really just ignorance?

The value of all coins are currently inflated beyond their usefulness value. Of course one day some of them will be worth way more. Monero has more real world use but less speculation, that would explain the price.

bitcoin is fully transparent, using it for anything illegal is increasingly ridiculous

Is there a better way to literally tell the government everything you're up to, than to have records of all your financial movements recorded on a public ledger that anyone with an internet connection can access?

>Normies don't care about privacy
They also don't care about decentralization or inflation. PayPal is better for normies. They prefer the possibility of account holds because normies want option of charge backs. Payment is faster and cheaper than Bitcoin, not to mention easier. If you think mainstream adoption will come off the back of normies you are very wrong.

>Why can't a cartel just use bitcoin to do their bidding?
Because blockchain analysis will wreck them.

I can't wait for the hyper capitalist cypherpunk distopia that awaits us in the coming years. All these normiecoiners hoping their coin gets establishment approval are not going to make it. Those of us banking on the collapse of the status quo will rise like the Phoenix from the ashes of the NWO.

Praise Kek

can monero do well without a total collapse??

monero has probably got a great future either way, at least as long as the devs don't fuck it up

there ain't anything blockchain technology is suited to more than what monero is going for

Maybe but the collapse will happen anyway so don't sweat it.

This is the new gold standard reply for gubmint fearmongering.

>There's no reason for bitcoin mainstream adoption except for hype and bubbles. Bitcoins lack of privacy ruins it's censorship resistance, making useless and basically worthless.

For some reason it's very hard for the retards here to understand this very obvious and fundamental point.

en.m.wikipedia.org/wiki/Liberty_dollar_(private_currency)
en.m.wikipedia.org/wiki/E-gold

Alright if people used it exclusively for coffee they wouldn't try shut it down but that's not what a currency is.

If they can't control it they'll try shut it down. If they can control it there's no point it existing.

So how might they try to control or shut down monero? Seems like a tough ask, but they have plenty of resources.

Fuck you OP.

>Reddit
Explains everything.

how much XMR to have that?

Why does that matter?
Just watch the market and info.
And be ahead of the pack.

obsidian vs monero??

Fluffy is an adviser to obsidian, but which one will reign surpreme?

Can they work together?

>Bitcoins lack of privacy ruins it's censorship resistance, making useless and basically worthless.
But it does have atms in my area making it increasingly usable in my area for storing cash and hedging price changes in the AUD (my local currency).

At the moment that might be silly, but that wouldn't be so silly in the US from what I'm hearing about your dollar.

obsidian is super early stage, so it'll probably see way higher initial growth, but it could also fizzle. Very alluring concept though.

Monero is legit and functional today, and that's something.

Too early to say about the long term. Could be monero, could be obsidian, could be something noone's even thought up yet. Monero obviously has a massive headstart though.

there cant be one privacy coin to rule them all, its not lotr.
lotsa privacy coins need to exist for privacy to actualy exist. if there were only monero it would be a lot of easier for nsascum to keep things under control.

I was agreeing with you.

newfag brainlet here- besides wider adoption, how does monero stack up to some of the other privacy coins like ZCash, cloakcoin or others?

>If they can't control it they'll try shut it down. If they can control it there's no point it existing.

This is why I have switched from ZCash shrilling to Monero shrilling (I own jack shit because poor). That and Monero's developers are just better overall.

reddit.com/r/Monero/wiki/comparison

found this, seems accurate on a skim

legitimate question
how will this compare to ethereum after the metropolis update?

Metropolis is adding some ZCash features. Optional. They won't really compete. Ether is awesome. Not the same type of coin.

I see

Make exchanges, nodes and transactions illeagal. The exchange of fiat for Monero would have to go underground. Running and using the network itself would still be possible as long as i2p isn't banned. Even if i2p is banned I'm sure there would be new ways to route around surveillance.

Some people argue that because Monero has a dynamic blocksize, the government could spam the network to the point that you need a data center to run node and that nodes will be easy to censor at that point. I think that's a cope from Bitcoin maximalists.

What makes bitcoin far worse than Monero is the fact that it's not fungible. That means that not all coins are equal. The traceable nature of Bitcoin means that some coins can become blacklisted and become worthless. Because of the lack of privacy it becomes simple for miners to censor transactions. Bitcoin mining is centralized enough that governments could make miners enforce a blacklist. With Monero there is no way for miners to know which transactions to censor.

thanks gary

I am RoosterRed. Read my articles on Steemit. Yo.

Better to be poor than a heretic. You've made good choice, brother.

>Monero is like the pedo-coin right?
rright, becouse everything thats gives you total freedom and anonimity is for child rapers
gtfo to your jewbook, you filthly, brainwashed faggot

Reddit links should be banned and I wish companies would be smarter than advertising on that joke of a platform. I refuse to use it, and so should you. Steemit seems alright so far.

hahaha
Yeah, but ZCash has a lot going for it if zero knowledge proofs are legit. I read it, I am semi good at math (150ish IQ), and I couldn't make total sense of it. This is a disclaimer though, I am not a math genius, and ZCash has a few, so I'd ask an absolute math genius about that shit. A little over my head. It is good to know your limits.

Laughing at all the subhumans in this thread manipulated by the OP.
Monero is forking every few months.

>No one cares about privacy, just look how many people have snapchat, facebook, and instagram.

Sure the average braindead normie slave doesn't but people with a bit money actually seek privacy when it comes to their wealth, if it wasn't the case then Switzerland would not have built an entire industry around it during the last century.

moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php
The reddit thing was basically based off this. It might be preferable. I haven't read the reddit one.

In the UK, its commonly accepted to participate in basic tax evasion and its perfectly legal to do so if you follow the right routes.

My public life is has screened privacy, I only put on facebook, instagram what i pre-select so thats not a problem.

But with Monero - I could be paid for work I do anonymously... and If shops accept it. I could pay for items I want without the tax man knowing about it.
It's basically the modern day cash. I'm excited about it.

Idiots keep equating financial privacy with social media privacy. The same normies that don't give a fuck about the privacy of some dumb shit they do on facebook certainly care about their money being private.

You'd be surprised at the people who care A LOT ABOUT THE END OF CASH. Many use Facebook. Talk to people in real life for once.

There are so few people in the world that understand it that it's very risky to base money off at this stage. It's so new there's bound to be some exploit and no one would be able to tell. Besides that the trusted setup requires too much trust. Pic related.

Monero might use zk starks which don't require a trusted setup as a sidechain one day.

can you explain a bit more? sk starks?

>cut out the dod id card with the id number and everything out of the image

I wonder who got the image in the first place, the guy who's card it was?

Whether you put a tipping address online, beg on sites like Veeky Forums, pay people for articles online or lectures on stuff like programming over the world, your address ends up on google searches. You do an ICO, people have your address. You buy soup (possible with bitcoin here in Vienna at a few restaurants), the receiving end can look into your ledger. You have to go through a hassle for any cash like payment to prevent the other end from seeing how much you own.

I already have this problem if I put an address on my youtube channel or it I take coin rewards to the github repo pull requests of project I contribute to.

Something like Monero is the only way to go,
if you want to make bitcoin and alts more than just assets on an exchange, but an actual currency.

Thanks. I'll read all that. I have read everything I can on public information. Admittedly, I am not a math genius, I am only adept at math compared to your average Harvard graduate, which really means shit when things come down to it. On issues like this you have to defer to people much smarter than you that you TRUST. Which is hard to find.

>zk snarks
is probably what he meant. And no, no-one will explain them to you here since no-one here really has the mental capability to understand how they work.

>what is kraken.com

No apparently zk starks are like zk snarks but don't require a trusted setup. And yeah I basically can't explain any of that shit beyond that.

Get the fuck in wtf?!? Op was not wrong

Monero is mooning on Bittrex. 8.6% up at this point

This is what I like to see. Any speculation how high it might go?

In the UK, its commonly accepted to participate in basic tax evasion and its perfectly legal to do so if you follow the right routes.


You are confusing Tax Evasion with Tax Avoidance or Tax Planinng. Tax Evasion is illega. The latter are legal in almost any other jurisdiction outside of the United Kingdom.

Thanks for the correction
Its still pretty funny we have 3 ways of wording it for essentially the same thing haha

>In the UK, its commonly accepted to participate in basic tax evasion and its perfectly legal to do so if you follow the right routes.


You are confusing Tax Evasion with Tax Avoidance or Tax Planinng. Tax Evasion is illega. The latter are legal in almost any other jurisdiction outside of the United Kingdom.

About this high I reckon.

OP here. Someone just bought up a buy order of 100 BTC. Expect this to hit 0.0350 satoshi

This buy order is decreasing fast

this was fun while it lasted. time to unload these bags before i get stuck holding another shitcoin.