Think about it... governments want to be able to track transactions to prevent money laundering and determine how much you owe them in taxes. Guess what coins will be the first to die when regs come in? Privacy coins.
No government wants their citizens making illegal transactions, anything under the books. They will ban them and they’ll plummet to $0.
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opposite will happen
The can ban them and make it harder to obtain them, but they can't get rid of them. Non-private cryptocurrency has no purpose anyway.
Privacy coins allow the same transactions that cash does. It's an electronic alternative for the generation that doesn't hold cash. I'm keeping my nav
Yeah just like that time China tried to ban crypto and the market crashed.
O wait
Monero (XMR) will most likely seek protection and make a permanent agreement with a country (most likely one possessing veto power at the UN security council) so that both Monero's interests and that country's interests matches.
Monero (XMR) will then implant itself in that nation and become a mega corporation of that country (defending and representing its interests). That nation will most likely designate a special zone that is commonly known as a "tax haven" where Monero will set up its headquarters and operate.
To any one who doubts me, shadow markets account at least for 22.67% of world GDP.
Israel.
You all faggots don't understand what blockchain is
You can't ban a fucking coin
Why? Can they just not shut down the dev team and blockchains?
I agree with OP, don't have to sell them but no the long term holds everyone fawns after.
sell now or cry later you fucking cuck
Yes. That and heroin too. Do you sell heroin by the way?
No, but you can make good money from it.
None of that shit is even necessary
Powery powerful people gain a lot from having access to privacy coins
So privacy coins are staying.
It's that simple
>Sell all drugs now. Sell all prostitutes now. Sell all guns now.
Literally all they could do is ban fiat on-ramps.
If you're a cuck you can give your Monero viewkey to a tax auditor or whatever. The coins next to it in the pic are a joke anyways so don't worry about them.
>hurr but what if gubmint bans da bluckchain?
I fucking hate you decemberfags. Get the fuck out of crypto and off this board.
This is a good theory. I like it. I think it would probably be China or some Asian country that doesn't have any US military bases nearby.
This guy gets it
Sure you can. But i dont though. Nor most people.
Or we can gas all the fascists, restore the constitution, and repeal illegal KYC regulations
It will probably be a permanent member at the UN security council. As they only possess enough might to dictate, influence, force and enforce rulings on other countries so as to protect their own interests.
DELUDED.
Also, monero has OPTIONAL transparency.
Certain financial products need privacy to work on a public blockchain. That's why Wanchain has ring sigs as well.
ICON is going to implement private txs.
Who's going to stop them? Don't make me laugh.
This. I don't see world where these coins are allowed to thrive. Same with fucking Upfiring. Oh a blockchain to trade bootlegged shit? Sure, let me hop right in.
People buy Monero to buy drugs and for speculation. No real world utility for anyone who doesn't participate in raves and pot circles.
No tax paying, law abiding corporations in the US will ever be able to accept it and no legal exchanges will allow you to cash it out. Have fun with all that.
Good call. Monero and Ripple shills are the only people on this board with long-term, logical, macroeconomic, geopolitical reasoning. I hope you've already made it, and if not yet, then I hope you do make it.
Tax Havens do exist in our world and corporations do have offshore banking accounts there.
Monero might revolutionize offshore and secretive banking.
>banning untraceable coins
lol
Not a country
This.
Which permanent member of the UN has interests aligned with monero? France?
It should be a country like taiwan. It’s not even in the UN so it is not subject to any data sharing agreements with any other nation.
Taiwan, Switzerland or Costa Rica
Or that time all governments of the world banned cocaine and coke prices plummeted to $0.
Oh wait
Nah, I'm going to keep mining XMR.
Who fucking cares, you don't buy it for fiat.
It would be Russia or China
Guess what sectors of the economy require privacy through law. Actually I'll just tell you. It's the health care industry, finance industry, housing industry, and the legal industry. Those sectors are about one half of the market. So privacy coins are required by law for half the economy. So they will never die. They will probably move towards privacy protocols with completely public blockchains (DASH and ZCoin) rather than using ring signatures or zk-snarks, but privacy coins are here to stay.
What happened to price of ANYTHING that got banned? Goes up you moron.
>THE GOVERNMENT BANNED DRUGS SELL THEM ALL THEY WILL GO TO $0
The absolute state of newfags
you should sell your privacy coins not because the govt will ban them, but rather because bitcoin cash extension blocks will render them redundant.
>Doesn't know about shapeshift and decentralized exchanges.
Privacy coins will never go away no matter how hard governments want to ban it.
Speaking of France
Ark made quite an intelligent move.
blog.ark.io
In theory any permanent member of the UN security council will be fine as they will all seek and demand the same thing from Monero. That is Monero (XMR) can only be trade in their own currency that they only can manufacture, manipulate and control. Just like what the americans do with oil and the concept of the "petrodollar".
>They will ban them
>and they’ll plummet to $0.
heavy bags boys
LOL op you're a retard. My portfolio is 80% privacy coins and I know I'm gonna make it.
Monero has many devs around the world
UOP here, you guys are going to get fucking ROCKED in the next few months. The SEC just required exchanges to register with them. It’s only a matter of time till they crack down on the illegal aspects of crypto. Privacy coins will simply not be legal. I don’t know how else to convey that.
If the government bans it, exchanges catering to Americans will not be allowed to offer it for trading. Huge portions of the market will be wiped away, and the government CAN enforce it very easily.
Kill yourself you fucking brainlet
yuuuuup.
you know why PrivacyCoins cant be on coinbase gemini bitstamp, or other big exchanges that are used for eg.. CryptoCreadit Cards.
Because its not allowed to support illegal activities if you are rolling a serious business, buy supporting something that aim to be used to prevent tracking,.. thats how it is.
We had the same disscussion with Bitcoin, there are some great branches//projects that are ready to implement full privacy with stealth wallets, hidden transactions etc.
> But this will slow down adoption by almost 80% when not killing it at all, because its against general security laws.
Something like Monero will survive forever, as one of the top10 coins, but it wouldnt be possible to seriously pay for stuff with it... I know I know - you can pay with XMR already at some online stores.
But gov just dont care now, because XMR isnt big with its 10k tx per day. But when it comes to merchant processing and payment options a gov can forbid the use of such coins by LAW
>it will be banned
>therefore it will be worthless and cease to exist
Sage monero threads.
>ban illegal transactions
Did you even think before posting?
>
A big chunk of the point of a decentralized blockchain is that it is censorship resistant so it's all ok famalam
Ever think that many people in government might already be using/familiar with these type of coins? Ppl at high lvls of gov are usually involved in some pretty shady shit.
You know exchanges exist outside America right? VPN's exist too.
This but if that happens they will plummet in price. They are still good to use but you shouldn't buy them for investment.
yeah haha they'll ban them just like drugs and the price will plumm- oh fuck wait stock up got it
Unironically Monero is the only coin with any actual adoption and use at this moment. Every other coin is speculation.
This is one of the most retarded threads I've ever seen on Veeky Forums...and that's saying a LOT
They banned drugs and so you cannot buy any drugs.
Oh wait. You are a fucking retard
Dumb fuck Americans think their government is the world government and there is no way to circumvent retarded laws
Truly the most cucked nation on the planet
So much for muh freedumbs fucking faggots
The only reason to sell any of these coins is PRIVATE overtaking them. Saged
lol yeah, they'll ban them just like they banned illegal file-sharing. I hope they try to ban them, I'll buy more.
lol
>implying the government itself is not using privacy coins
>implying NSA isn't satoshi nakamoto
>SAtoshi Nakamoto
>SAN
>NSA
You see now
If the government trying to ban it they are just confirming that it is legit private.
To elaborate on my previous lol, open source blockchains can't really be shut down. Now centralized exchanges? That's another story.
A Monero based DEX/cash crypto economy will await us if governments start trying to seriously shut down exchanges.
We need to get that going as soon as possible regardless of regulation.
I agree. I'm actually surprised there aren't more XMR pairings out there on the major exchanges but the way Monero's volume has been picking up lately I wouldn't be surprised if we start seeing people ask for them.
The issue that I see with exchanges pushing Monero are twofold. One, the fees for moving Monero around are still relatively high although this should improve a bit in the future with bulletproofs. The second problem, which gets a little bit more to the heart of the matter, is that I think centralized exchanges like Coinbase and Poloniex, as well as exchanges with dreams of mainstream adoption like COSS, would have a little bit of an identity crisis featuring Monero. Decentralized exchanges would solve all of that and give Monero some room to grow.
>Sell all privacy coins. Now.
>Something that could happen in the future may have a vague effect on some of these coins
I believe this is what the kids nowadays call "FUD"
>what is a decentralized exchange?
>t-t-they will stop you!
decentralized exchanges cannot be stopped
neither can privacy coins
Hmm
Could some one please explain the logic of this comparison to a retard like myself.
People will use drug if they are legal or not, people use them to fell good.
Gub bans, of course the shit is more expensive.
Who in the fuck is going to risk breaking the law for a fucking private currency? Are there that any pedos and druggies out there?
>Who in the fuck is going to risk breaking the law for a fucking private currency?
The same people that are already breaking the law doing whatever else they're doing.
illegal crypto makes it worth more you faggot.
Privacy has more value. Just like any jew would hide his gold from the goyim. :P
Posted this same question earlier.
>>illegal crypto makes it worth more you faggot.
What is the logic of this?
I am sure it is a logical fallacy just can't think of which one.
Yeah it works with drugs and alcohol because people are literally physically addicted and will pay any price for them?
Why does crypto get this same classification? Is there really that much demand for CP on the net?
Dont want to sound like a cuck but who gives a fuck about privacy when buying shit online? I would assume they could track your online purchases other ways anyways?
SO?! STOP FUCKING GIVING A SHIT ABOUT YOUR GOVERNMENT. REBELL YOU LAME PIECE OF SHIT!!! REEEEEEE-FUCKING-BELL!! THE WHOLE POINT OF THIS IS THAT GOVERNMENTS CANT SEE THE TRANSACTIONS AND YOU WANT TO SELL IT FOR THAT REASON!?!?!??!?!?!?! WUDAFAQ?!
get rhekt.
>The same people that are already breaking the law doing whatever else they're doing.
I am trying to be open minded and trying to understand this meme but still not seeing the comparison,
Take drugs, the grower/manufacturer,middle man and the dealer all have an incentive to break the law to sell drugs and profit.
The money and motive to produce and sell drugs comes from the demand of the user.
Drugs have real value, to a junkie there is nothing more valuable then there drug of choice. Other then making gains or transferring money/alternative banking crypto provides a user with little real benefit.
People are in crypto to make money, very few actually use it or care about it.
If privacy coin become illegal what incentive would any one have to use them other then dark net stuff?
There are some well established privacy coins already. Why make one with the name of bitcoin. Bitcoin gold has equihash algo. Why did Rhett not just join them?
Yes indeed - cryptos are interesting for governments only when they are turned into fiat (taxable) or used for transactions (illicit or legal)
At least in the EU, directive 2015/849 will effectively force all exchanges and similar obliged entities to gather extensive user data report and report all one-time or cumulative transactions in excess of 10.000e. Practically this means that all EU exchanges and exchanges that operate in EU are obliged to provide government agencies data that will expose who much a certain individual has bough/sold crypto. Oh and lets not forget that this also obliges banks to report any transaction in excess of 10.000e (also applies for cumulative transactions).
As long as people buy/sell crypto for fiat gains, which 99% people do, it does not matter if the crypto is "private".
Just the 2 cents of a lawyer.
>shut down the blockchains
>he thinks the government can shut Pandora's box.
I'm really not following what you are asking. Monero is just a means for exchange. The developers even say don't invest in Monero, use it.
Tax Havens do exist in this world. The elites and corporations stock their wealth in offshore banking accounts.
Monero (XMR) would probably revolutionize the tax haven/offshore/secretive banking industry if they play their cards well and seek help and protection as in
>Why? Can they just not shut down the dev team and blockchains?
OP is right, this is why there are literally zero gambling sites available to US citizens
kek
I agree with Monero being impossible to shut down and that it may actually thrive due to becoming the new Swiss bank account but I'm not convinced that it will ever officially be recognized by any government, positively or negatively. Monero devs definitely don't want to integrate with some nation's economy or whatever he's suggesting. There will never be a "Monero headquarters" lol.
You need to think in terms of logic, practicality and rationality. Sometimes you need to sell your soul to the devil to prosper.
I'm saying it's not going to happen with Monero. Maybe some other cryptocurrency but Monero is so principled about being decentralized that they aren't going to lobby to be sheltered by some government. They don't want or need that to keep doing what they want to do.
>a country that doesnt have US military bases nearby
if it exists its not on earth
FUCKING FINALLY SOMEONE WITH SOME SENSE.
When are you Veeky Forumstards going to wake up and realise the power of the DEX?
BECAUSE CRIME REALIZES THAT THE INTERNET IS THE WAY TO GO, HOW WILL THE MAKE EXCHANGES WITHOUT A CURRENCY OF CHOICE THAT HIDES THEM, YOU THINK THEY CAN GONNA BE SLINGING DRUGS ON THE STREET ALL DAY?
Lol, you are such a first level thinker OP. Regulation will INCREASE the demand and price of privacy coins.
Real money wont enter while crims abound and oldies (who have the money to plough in) think cryptos full of hos, niggas from the hood and assholes scamming.
The industry has to appear to clean its act up so the big money can flow.
Can't tell if bait or just really stupid
>implying we owe something to governments
>shut down the blockchains
So you simply swap it for ltc/btc/eth or whatever using kmd's barterdex and cash out. Not rocket science.