XMR

Not having some moneros in your portfolio is absolute brainlet tier, though it's fitting for this most of this board.

If you have some working braincells and start reading up about monero, it's hard not to see a bright future for this tech imo. I'm currently in the process of allocating more of my holding into monero.

But Teeka told me Zen was better

People accumulate bitcoin as their end goal, mine is monero. Bitcoin is obviously the king, but it will never be used as it was meant to, as a currency. Monero will be, and it also will obviously be used for things where privacy is a concern (Swiss banks x1000, dark nets, tax fraud etc), which can only help but increase the price.

I don't really see how Zen is better apart from having integrated encrypted messaging.

Bitcoin is absolutely dinosaur tech at this point.
The community is absolutely divided, the never ending stream of fork drama at this point, not to say that indeed people will never use it as a currency.

Another interesting part of monero is that it may technically be more secure/decentralized than BTC,ETH and other cryptos.

The reason for this is the CPU/GPU mining tradeoff (only 2x) leaves most of the mining decentralized

There are also botnets that run on 1 core/thread and mine XMR without the host user realising. The benefit of botnets to XMR is that they will mine regardless of price, so even if XMR crashes and it is no longer economically viable to mine, there will still be a large amount of network security from the botnet miners.

80% of BTC's hashpower is owned by 5 companies, most in china. XMR will likely never be this way because mining operations are hard to scale, leaving the mining distributed among many many pools.

Monero is not the only privacy coin, AEON is also private.

Yeah, cypherpunks seem to like this coin so it will have that community to support development for a while.

This is true, but aeon is an explicit testnet for xmr. It has one Dev, who also works for xmr. It's like a hobby project. Aeon is good for turning some profit and seeing some cutting edge experimental tech

Thanks user, didn't know that.

to the best of my knowledge, AEON is a test fork of Monero, right?

right now it's the best privacy coin, but it's not the coin to end all coins, as new privacy tech is going to keep coming out.

there isn't any room for anything but the best privacy coin though, because there's no reason to use both, people who need privacy will move from monero to the next best thing if something comes along (and no, nothing has come along, stop shilling your pajeet shitcoins), so i wouldn't count it as a long term hold just yet.

I think there's room for more than one. Not many, but 2 is possible. Think Mastercard/VISA at your Darknet checkout.

Alphabay accepted Bitcoin and Monero.

true, but take into account Monero is still being developed as well, right now nothing seems to be even close

i just dont see why. they serve one explicit purpose, which is to enable private transactions. the best way to ensure your transactions are the most private is to use a coin that also has a lot of users, so the more private coins the less private they become.

of course, but in the same way you cant impliment monero's tech in bitcoin, there's going to be some new tech at some point that you can't implement into monero.

aye, that's true and definitely something to keep our eyes on

if anything i think the tech is already here, which are zk proofs, the problem is their implementation in zcash and its shitcoin forks is abysmal, even ignoring the 20% premine on zcash.

the only real threat i see for pure privacy coins like monero, and it's successors, if there are any, are "good enough" privacy in bitcoin or ethereum, something that due to volume and mathematical proofs, provides you 80-90% of what pure privacy coins like monero get you. but i'm not concerned with monero as an investment but more of a utility.

AEON is not just for testing. It has it's own thing going for it. It's much more lightweight than XMR, so it can be run on phones. So it's basically drug dealers dream coin, private and lightweight.

The problem with what people would think is "good enough" right now is that it will be worthless when they want to do anything with it. Optional privacy features can lead to isolation attacks and then you don't have the plausible deniability of using a "dark" feature being used for legitimate purposes

not if it's got mathematical proofs backing it up, it becomes a lot easier with off-chain transactions, which is where most of the volume is going to be.

I don't think zk-snark like tech will catch on as long as there is the toxic waste backdoor. At least, I will avoid such coins like the plague personally.

Zk-starks will be very interesting, but this technology is still quite resource intensive and far from being fully researched. If a dev team manages to get lightweight zk-starks for their currency, I will go all in.

Finally, a thread that isn't full of hype, shilling and nonsense. A reflection of XMR itself, perhaps?

I would be grateful if anyone wishes to join me in this mining pool supporting Monero/AEON + more
minergate.com/a/1b15d165c88fda7ee00f5604
I tip my fedora to you Monero gentlemen

The fact that it is not anonymous ruins it for me as a privacy coin.

Didn't you read the article that came out recently?

I sold it all, not participating anymore.

Edward Snowden was right.

I'm all in on the XMR train simply because I actually believe in the technology and it's real world market functionality, which is money laundering and facilitating drug deals. Most of the people on Veeky Forums are going to be right up there with the Pets.com Marines when the bubble pops and they're left holding these worthless digital beans that don't actually fucking do anything of any appreciable effect that 99% of normies can't somehow facilitate with regular fiat. Monero has the distinct advantage of both acting like real money (as it's the only coin that is fungible) plus it solves a fucking enormous problem drug dealers have as they have no way to move significant amounts of money around conventionally (e.g. through banks) as the IRS and other government agencies can see exactly what they are doing. I mean think of that the price of XMR would have to be if even 0.5% of all of the drug deals in the world used it as a medium of exchange. I mean that's not an unreasonable estimation and yet if you bought a couple grand worth of these now you might have $100,000+ in a decade or so.

The biggest risk I perceive is a competing coin but considering the tech already put into Monero a fork would be more likely, and a fork would just mean you now have both coins so it would function as a massive dividend.

I'm sure you have some evidence for this? There is no de user method for xmr besides clubbing somebody and taking their wallet while unencrypted

It's impossible for anyone to see your transactions, the IP thing is nothing more than fud

I'm going to buy $1000 worth of monero when I get my wagecuck bucks. I also believe the value of the coin to keep increasing in the long term.

The difference is that it'll just slowly increase very so slightly and not have insane pump&dump movements. Good for long term hold. Shit for day trading.

Going to hold it of course.

Yes, im happy this thread turned out quite intelligent

there are ways around that, that's just the way zcash and its forks decided to do it.

they have ips connecting to the monero network, maybe making a transaction, maybe not. they can't see anything, and you can wrap monero in tor very easily with a single command, or sign transactions locally on a mobile/light wallet, and broadcast them over tor if you wish.

but tor is more likely to be broken by timing attacks (and already has been) then monero transactions are to be unmasked.

Zencash encrypted messaging is a game changer. Buyer and seller will never lose contact when the market they met on goes down. Hands down Zencash will be far better than Monero for privacy purchases.

this fungibility thing is actually pretty huge if you think about it. Imagine buying some 'tainted' bitcoin and getting blacklisted off exchanges, even though you did nothing wrong except for buying the bitcoin from someone.

i doubt people are interested in "feature coins" like that, when the primary feature (private transactions) is worse in zencash than it is in monero.

maybe, i'm not opposed to Zencash, but it has the same problems with the toxic waste thing as Zclassic and Zcash. I'll probably invest in it anyway, but just a smaller position than monero

Does one have any views on Sumokoin in relation to Monero?

isnt that just a premined clone of monero? also has no users so it serves no purpose as a privacy coin in that regard.

It is the bitcoin of privacy coins. There may be newer and better options, but the segment has already been defined. No different than when a brand name becomes the product name.

possibly, but unlike bitcoin it wasn't the first, and so i doubt it'll be the last. for the utility it serves i hope it does get replaced by a coin with even better privacy, because altcoins are supposed to be high churn especially for usecases like this.

premined slow as shit monero clone whos only use is to mine easier and sell

seriously the only difference is that the default mixin is higher at 12. takes so damn long to send and cryptopia needs 20 confirms, so it takes a god damn hour.