/XMR(Monero)

I'm at 98%+, feeling extremely comfy. I don't think Monero will be made illegal, but it would definitely be a good test. Also, the Streisand effect is a thing.

Fluffy is joking. There is also the inside joke of Fluffy's 2023 exit scam lol

mobile.twitter.com/fluffypony/status/792038226840150016

>Thinking of allocating close to 100% of my portfolio in Monero. Thoughts on the risk posed by governments applying pressure on anonymous cryptos?
it will make it even more scarce and valuable
it woudn't become day to day payment crypto, but instead will be storage of value
mining can't be banned worldwide
and if they ban exchanges there still will be decentralized exchanges and atomic swaps

I'm skeptical, I think there would be a lot of dumping from whales with IRS eyes on them especially if monero ownership is outlawed

Monero is gonna be big . much bigger than most people think . it follows btc steps ,dnm using it ,privacy ,store of value etc when bitcoin started going big people had the same dillema you have now , that governments are gonna kill due to privacy etc 2 years from now there will be people hitting their heads for not buying xmr at sub 200$ prices

Well to be honest it is a legitimate concern. Bitcoin was never anonymous and people with a bit of technical expertise have always known it. Monero on the other hand, offers real privacy and anonymity.

What's a good exchange to purchase XMR from? Bitfinex have suspended US accounts.

Bittrex? Binance?

98% in ETH and I've been thinking of putting a sizable chunk in XMR. Possibly 80% ETH, 20% in XMR.

It's always seemed like the most undervalued crypto, so I wouldn't be surprised if it surpasses $1000 EOY 2018 as said. In fact, I'm confident it will reach at least $2000, especially with all the people waking up to it.

Monero is what people think Bitcoin is. We know before the normies, so it's a perfect chance to buy it up.

These long term holds are killing me, I wanna make a quick 10x!

MXR price EOY2017?

>500
No, I'll be happy when it goes to 250 or even stabilize around 100. Darknetmarkets will probably not grow as fast as during the first 6 years, which isn't necessarily bad, and normies and pajeets will be busy holding shitcoin bags.

Kraken
But it is far from good exchange
Pros : fast verification, low fees
Cons : 9 out of 10 times order fails for whatever reason. You get cancelled multiple times until order somehow squeezes through

XMR is a long term moon, exactly. For a quick 10x you have to gamble on shitcoins.

This. The most that top 10 coins will gain in a day is 50% and that's extremely rare these days.

You'll need to go to page 4+ on cmc to find the catshit coins you're looking for.

>there would be a lot of dumping from whales with IRS eyes on them
it's a legit concern, but i woudn't suddenly happen overnight
nothing stops you from selling near the top and buying back at the bottom just like it happened with chinese btc ban

>Darknetmarkets will probably not grow as fast as during the first 6 years
but they don't have to grow
they just have to replace all btc deals with monero

why the fuck are people are still talking in terms of USD ??? You should be talking in terms of BTC, monero should be 0.1 BTC, nobody cares about USD.

I has discussing xmr and darknetmarkets with some user, and i developed some points.

We have two emblematic cases to begin with: the arrest and seizure of the assets of the Ross Ulbricht, the name behind Silk Road, the first and most famous deepweb market - at the time of his arrest, he had anestimated assets of $ 28 million in crypto - and Alexandre Cazes, creator of Alphabay, who also had about 20 million dollars, divided between crypto, real estate and luxury cars.

Both Ross and Alexander were creators and managers of their"companies." In their position, how did you get all that money? Through commissions. In Silk Road, there was a 6% fee on every sale; in AlphaBay, 4%. Comparing these two datas (net-worth of about 20 million, fees of ~5%) it is possible to estimate that these markets moved around 400 million dollars in its entirety!

However, such an enterprise is not carried out alone; they had subordinates, who certainly also received their share of the profits. I do not know the amounts paid to them, because I am not aware of their arrests, or if they ever happened. I found news, however, of a Ross employee who extorted about $350,000 in bitcoins from vendors on the platform, another federal agent who stole $800,000 from Ross.

In addition, Silk Road and Alphabay, although they were the largest markets when still active, were not the only ones in the business. The amount moved by its competitors was smaller, but still noteworthy.

Finally, the information we have is based on the fact that these markets succumbed to the actions of the authorities. So many other markets, like Agora and Abraxas, stopped their activities before they could be captured by the authorities. Therefore, we will never be sure of the amount traded in these markets, and may be even higher than the estimated here.
In fact, the value apprehended by the authorities can be even greater if Ross and Cazes have more hidden assets, which somehow escaped the eyes (and hands) of the law. (cont)

>You should be talking in terms of BTC
btc that fucks up all the alts on the weekly basis because of its volatility?
no thank you
monero should be independent of this fuckery and its btc price should be determined by fiat value not the other way if people are going to hide their cash in it

Damn you are right, sometimes I don't see the most obvious. If the devs manage to get implement some kind of multisig, xmr could easily go to 15 Billion market cap. Good for hodlers, but it would be nice to keep Pajeets in the dark for a little longer.

go on. Till now you just have stated the obvious but you have my attention

I buy Monero with fiat, so I'm interested in those pairs. Furthermore, Bitcoin will decline sooner or later. Monero is the real thing, there's no point in measuring against BTC.

This

Very interesting. I never bothered with the calculations, it's admittedly already a big market. Where do these discussions take place? Interested in reading more.

I said all of that to reach this conclusion: the amount of money circulating in these markets is fucking huge! Might seem obvious (and it is honestly), but the other user i was arguing with said it would not even come close to billion dollars. Myself, i'd not be surprised if it reached a billion , which represents almost half of the market capitalization of monero nowadays.

Point is, many investors in their crypto-currency prospects, limits their analysis to the adoption in "real", "day-to-day" (lawfully speaking) situations, ignoring this large portion of the market that takes even more advantage of the benefits provided by privacy coins. I am surprised at the number of times I hear this argument to undermine the validity of the use of these currencies. It seems they have forgotten that bitcoin was and is still widely used for illicit purposes, and yet this has not stopped its monstrous growth in recent years.

Point is, darknet black market scene is strongly advocating for monero to be used more widely One of the major factors who drove monero's value was the inability of US authorities to detect the amount of XMR in Cazes' wallet, putting its effectiveness to test.

Why buy now, if the price has gone up so much? With the fall of Alphabay (which, after a while, allowed the use of the monero on its platform), the deepweb black market branch is unstable, with no apparent substitute. What we have at the moment is a diversity of small markets fighting each one for its space, and some of them already offering the possibility to carry out transactions with monero.
I believe it is a matter of time before this currency becomes the standard in this type of business, further increasing the demand for it.

yeah, my post is mostly obvious points for people who've done their research, just trowing my two cents for those who didn't.

>If the devs manage to get implement some kind of multisig
its like their top priority
and it is already in a pre-release stage
monero.stackexchange.com/questions/5646/how-to-use-monero-multisignature-wallets-2-2-2-3

You can be happy then, because multisig is almost finished. It's already possible to use it in the development version of the wallet.

A guide is here, for 2/2 and 2/3 multisig:
monero.stackexchange.com/questions/5646/how-to-use-monero-multisignature-wallets-2-2-2-3

(final)

This is because I am restricting the analysis only to this (large, true) portion of users. I have no doubt that rich people will find other uses in this coin to conceal their wealthj, in a similar way that tax havens are used. If the so-called adoption of the currency in everyday situations happens too, we will witness yet another boom, certainly. But even if its use is restricted to illegality, ignoring this demand is closing the
doors to a great opportunity that is drawn in sight.

There's plenty of articles out there, just have to search for the right words. Example:

wired.com/story/alphabay-takedown-dark-web-chaos/

forbes.com/sites/andygreenberg/2012/08/06/black-market-drug-site-silk-road-booming-22-million-in-annual-mostly-illegal-sales/#115c7d75962a

blogs.marketwatch.com/thetell/2013/10/02/silk-road-drug-market-handled-1-2-billion-of-transactions-in-2-5-years-before-fbi-seizure/

wired.com/2017/05/silk-road-creators-life-sentence-actually-boosted-dark-web-drug-sales/

theguardian.com/technology/2015/sep/01/us-federal-agent-investigating-silk-road-admits-800000-bitcoin-theft

justice.gov/opa/press-release/file/982821/download

Thanks for the links user!

>Furthermore
I agree, but the price increase in btc appears to be driven by new participation from the developing world. Zimb is a perfect example, they need stable currency and btc is their best bet.

Same goes for a lot of countries that rely on USD cash in circulation, it's no longer an adequate store of wealth if we're honest about purchasing power.

Btc is the easiest in they have to stock market gambling and unlike precious metals it's difficult to steal or have the gub confiscate it.

Xmr has an actual purpose which makes me think it will definitely moon once btc participation draws in new interested parties.

from my basic reading of things- doesn't DASH already do the same thing as MNX does? (that is- obfuscating transactions and wallet holdings?)

Don't worry user, not all of us are moralfag plebs. Some of us understand the importance of DNM adoption.

dubs are telling how it is
>I believe it is a matter of time before this currency becomes the standard in this type of business, further increasing the demand for it.
Spot on. With openbazar getting more popular by the day, the success of the forum based markets and the time that passed between Alpha and Hansa going down and forcing users to adapt methods to harden OPSEC, COMSEC and INFOSEC, which took some time do to a not easy to walk learning curve, we are probably entering the great third wave of dnms, with not just illegal goods being traded but also grey goods and services by sellers trying to evade taxes and ride the crypto train, like good old pp.

DNMs will become a multi gazillion business model, especially with the censoring and controlling happening on the clearweb
much thanks user. Time to get rid of all the Pajeet corp coins and double my xmr position.
try TOR based forums and the forums of the dnms. Look for the SR I forum archive

The thing is that I really see no point in using Bitcoin as a currency. It's slow and expensive compared to other cryptos. If you think about it, its position as top coin is not really justified by anything. Bitcoin was the first coin and that's the only thing it has going for itself.

>I really see no point in using Bitcoin as a currency
cashing out user. Till now most services work on bitcoin because it has a very stable infrastructure and is widely adapted. With the chinks investing heavily in SHA 256 asics and most "bitcoin killers" relying on alternative algos and/or con artist at most changing a line and building brands, which bitcoin already has, being the original crypto currency

Monero becomes obsolete soon. Decrd kills it.

>monero threads actually have discussion instead of low-brow shilling

Doesn't even feel like biz desu

You mean Decred? You don't even know what you're talking about, they are not even in the same space.

>Monero becomes obsolete soon. Decrd kills it.
i love decred, but no
they are not even competing

would be nice to see both xmr and dcr in top 5 though

maybe you should dig a little deeper reddit

this is why XMR drones are so entertaining. you don't even know what the competition is.

Verge right?

>drone
>implying i'm emotionally invested in any coin i own

You show me a coin with better privacy prospects than monero and i'd buy it, no problem. Right now, though, i don't see it happening. Doesn't mean i can't change my mind (and positions)

>Dcr
>xmr
Two completely different market segments and purposes.

not as entertaining as monero obsoletists who think their coin of choice optional privacy is private at all