/biz/ - Business & Finance

The King

>>14909766
bought $1k yesterday

yap

>>14909766
Electroneum

>>14910483
retarded brit marketing scam

>>14910483
trash

>>14909766
I love Monero too and all but I worry about the future of this coin with regulators and politicians in the U.S. using FUDs like oh its only used for criminal activity and money laundering and they are talking about bitcoin. Really makes me worry when they get educated on Monero that this shit will be straight up banned if younger regulators and politicians don't step in and talk some sense into these old retards the recent trump and treasury FUD has me thinking about this alot lately. Normal coins will survive but the case to keep privacy coins around will be a real hard sell to these old fucks

>>14911564
no matter what regulators do in regards to privacy coins Monero will always be around as crypto isn't something that can be stopped. But it will make the coin far less mainstream and this worries me not only because it means price will go down due to a lack of demand since it's near impossible to get in but also because normies need to wake the fuck up and start taking their privacy alot more seriously with all things regarding the internet

>>14909766
literally what is the difference between monero and litecoin?
besides LTC selling for more currently

>>14911564
>he thinks the establishment will ban it instead of using its features for themselves

>>14911617
Do you even know any single thing about CryptoNote?

>>14911617
Monero is privacy centered, on other psuedoanonymous coins there are plenty of blockchain explorers that can look up your wallet address and tell you how much that wallet currently has and where literally all of it's money came from ie it can show your balance came from these other wallets and these wallets got their funds from here etc.

Monero is privacy focused and has no such thing. Your wallet is anonymous and no one can tell how and where you got your coins from. It achieves this by making your public address and "stealth address" two seperate entities (not to be confused with your public and private keys). You can give someone your Monero address and they can send you coins if they'd like but they can't look up how many coins you have. So when someone sends you coins to your public address the monero protocol does some crazy math shit to convert your public address into a one time stealth address that is as hard to crack as say your litecoins public and private key pair. So in a nut shell monero is privacy focused and achieves this by making throw away addresses everytime you send and reiceve coins

>>14911644
I've thought about this too but still doesn't change the fact that it'd make Monero hard to get, I want this coin to be accessible and mainstream. Granted the establishment using it would drive the price up like crazy but I'd still think they'd ban it's use for normies. Hopefully if that happens Decentrailized-exchanges will keep Monero accessible but shit like being listed on a fiat to crypto exchange will be almost nonexistant

>>14911617
Monero is ffungible. And it has dynamic block size.

>>14911617
give this a quick read if you are interested, in terms of privacy what they say about how bitcoin works also applies to litecoin and pretty much everyother crypto in existance that wasn't built from the ground up to be private

https://www.monero.how/how-does-monero-work-details-in-plain-english

>>14911564
Have you read the FATF guidelines? They actually don't seem to care, (at least so far) about privacy coins

>>14911758
Why are you saying so? Privacy is important for finance. I would not pay with a transparent coin ever.

>>14911811
I agree with you, I just don't see major corps and businesses having all their TX be completely transparent.

>>14911791
I actually haven't but thats really good to hear thanks anon.

>>14911811
I could be wrong but at least in the U.S. I'm pretty sure there are transparency laws when it comes to non private buisnesses that would prevent the use of something like monero

>>14911712
thank you anon. an actually informative post.
They gonna ban the SHIT outta this

Monero had it's day already, it went from pennies to almost $500 in a few years and most of the growth happened in around 1 year, there's also no reason for it to pump like that again, it hasn't done anything to make it happen.

>>14911951
Cash is non-transparent and accepted everywhere. Are they going to prevent the use of cash too? Grow a brain moran.

>>14911951
>>14911985
Why should they ban it? Transparent coins like bitcoin and litecoin are threads to your life: imagine everyone you transact with is able to see your wealth. Just imagine..

>>14911712
>>14911791
>>14911985

>Section 4.5.3 states that exchanges are not per se banned from using privacy-preserving cryptocurrencies but will need to comply with the same BSA regulations they comply with for typical cryptocurrencies. We believe that this is possible. Exchanges need to know their customers but they do not have a black letter law requirement to know the customers of their customers. In other words, a bank needs to know who you are but they are not obligated to know the name and address of people that you pay using cash you withdraw from your account.

https://coincenter.org/entry/fincen-s-new-cryptocurrency-guidance-matches-coin-center-recommendations

Eventually the market will realize what this is and it will flip btc

>>14912044
supply will actually be lower for a while too

>>14912011
yeah and guess what wise ass taxes exist so you can't hide or launder the cash you earned. Also if you are a business you give out and keep receipts and invoices not just for your own info but so if you get audited you have some sort of record of the sale and who was involved so if need be later in a court of law you can provide and prove your income is legitimate.

>>14912030
idk their actual reasoning but the excuses they are currently tossing around are illegal activity mainly being money laundering. I'd like to think someone will talk sense into them and tell them that when they have someone under suspicion of doing illegal shit with monero that they can force that person to share their secret view key with a court to show hey here is where this came from these addresses. Because in that sense Monero is like your bank in that people can send you money without knowing how much you have in your account it's just that rather than trusting an institution you are trusting a protocol/technology.

>>14912241
why are u fuding in every XMR thread idk are u some schizo at this point i think you are just fireice_uk by the way u larp fucking retard

its insane the things u write and the way you write them, like you created a secondary persona in your own mind that morphs to be perfectly accepting your arguments when you discuss a certain thing and then you write it out and press post, while you lie to yourself that your position is correct

you cant win arguments by assuming things for your own gain and then presenting "facts" backed w those same false arguments with no ground

>>14912241
>money laundering
Look up for the definition of money laundering before posting nonsence.

>>14912464
this thread was the first time I posted on biz all week I think I just matched the writing style and used the same points as the guy you are talking about

idk if you read my arguments this thread or just read this one reply but I don't know that I fit the description all that well.

>>14911998
>Bitcoin had it's day already, it went from pennies to almost $1000 in a few years and most of the growth happened in around 1 year, there's also no reason for it to pump like that again, it hasn't done anything to make it happen.
>Also, the mtgox fiasco proves that Bitcoin is finished, just sell lol

>>14911564
It is a privacy coin literally designed to fight govts and regulatory agencies. If you hadn't priced in govts and regulatory agencies cracking down on it, you are retarded.

If anyone gave a single fuck about fundamentals in this retarded market, XMR would be the base pair denomination for every fucking crypto transaction. Monero is living proof that this market is completely illogical. If there is any justice in this world, Monero will be #1 some day.

>>14912521
I don't see where the confusion here is coming from. If you wanted to launder money in crypto Monero would be a wise choice. You want to hide illegally obtained funds? what better way to do so than to be paid in Monero and then cash out and when asked where the money came from point to a previous pump and say oh I had x amount before this so after the price movement I made this much thats how I got this money. And what better platform to do it on than a coin that hides your public address? Granted that's the whole point and selling point of Monero is it's private and I love that about it but just saying it makes it a bit of a safe haven for criminals. Though thats not to say oh 50% if monero's use and traffic is people doing illegal shit.

you sound like you don't understand the technicals of Monero and how you could use it if you where so inclined

>>14912634
Privacy is important for finance. Since transparent coins like bitcoin and litecoin are threads to your life. Imagine everyone you transact with is able to see your wealth. Just imagine..

if it's so privacy centric and better than btc, than why do all darknet vendors accept btc,not monero? iirc, they just btc with some mixers or something to obscure it reasonably well.

>>14909766
Every coin on here is the next 10x.
I don't care anymore anons. I've lost so much money on investing into all your shit coins it doesn't matter anymore. Back to boomer stocks where there's actual value in your investments.

BTC drawing a lot of regulatory scrutiny is bullish for Monero, right now people mostly still use BTC or LTC on dnms, if the government sets up some detailed chainalysis resource for use by law enforcement down to the local level transaction volume will shift to XMR

>>14912688
Any DNM still left standing that uses Bitcoin is a honeypot feds generally turn a blind eye to so they can sting idiots dumb enough to make large transactions using them.

>>14912634
>Governments and regulators giving a fuck about crypto 3 years ago
Who the fuck was worried about regulation back then? You'd be smart to start worrying about regulation now that we made it big

Alot of XMR shills lately. Bearish signal.

>>14912670
Launder money is to give illegal obtained or not taxed wealth a legal origin. You can launder money by having a restaurant, or a casino.

>>14912688
>if it's so privacy centric and better than btc, than why do all darknet vendors accept btc,not monero?

any DNM worth its salt is accepting monero not only to protect itself, but to protect its costumers

the only reason BTC is still so widely accepted is because its the biggest crypto (duh) but it is horrible for shit like this because bitcoin is transparent, and even years and years in the future they can see those transactions.

>>14912727
I want to like XMR. I've wanted to like it for almost half a decade now. But I've just never been sold, I think there are existing methods to sufficiently obscure payments enough with bitcoin, but I haven't read up on this in years. If that's truly not the case though, I'll go all in with my play money on XMR and not touch it until the 10x.

>>14912740
Sell.

>>14912753
and by faking crypto gains through use of Monero as I just described. my b I forget most ppl still don't file their crypto earnings yet so that might not have been clear

>>14912759
Bitcoin mixers used to work well but chain analysis has gotten pretty sophisticated and, what's even worse is that exchanges/third parties can now pretty obviously see when you've used a mixing service in the past. I've heard anecdotal reports of people getting blocked from depositing bitcoin they acquired on BISQ because it's regarded as a high risk origin for bitcoin.

In fact, all you're really doing when you mix your "clean" bitcoin at this point is increasing your risk of picking up tainted bitcoin from someone trying to cover their tracks. Until almost everyone intentionally mixes bitcoin, this will always be the case because people are lazy and most don't give a fuck about privacy.

>>14912759
Do some research and you'll see. There's ways to be more* private with bitcoin, but its very difficult and if you have one small fuckup you're owned. even years down the road you need to keep your shit straight because of its transparent nature.

Any privacy technology/programs added to a transparent base chain is going to be worse than an opaque chain like monero. Period.

>>14912818
>>14912727
>>14912642
THIS

>>14912803
You cannot launder money with monero, since you still need to name a legal origin of your funds.

>>14912818
>>14912826
Thanks, Monero it is, I guess. Any progress on trustless Zero Knowledge Proof coins lately? I read a paper on that awhile ago, i think it was a proof of concept.. has anyone done it yet?

>>14912874
Ive heard a bit about it and Monero research lab is looking into it from what I understand, you could hop on the IRC and ask

>>14912874
Supposedly Zcoin just implemented a trustless version of their privacy protocol but I haven't been following it too much because they admitted it's a temporary fix to the "real" trustless setup they want to implement. (Their previous privacy mechanism Zerocoin had a critical flaw that caused a bunch of coins to be minted by an attacker.)

>>14912848
>being this dense

>>14912983
what you said in:
>>14912670
>money came from point to a previous pump and say oh I had x amount before this so after the price movement I made this much thats how I got this money.
makes no sence, because you would be destroyed to the ground in every court. how old are you?

lol the next 10x? It would need to go to 14B. It’s going to be a minute a lol

The anglos will never ever allow anything that threatens the dollar to exist.

>>14913167
the west dies.

>>14913040
why don't you explain how you launder money with crypto then? you seem to not get how this works in any crypto let alone why it's beneficial to do in monero

>>14913687
cause it is not money laundering per definition.

>>14909766
Last year we had a big investor anon who invested big in XMR. He said he had plenty of reservations and wasn't going to continue with it mainly because it doesn't deliver.

Lots of truly uneducated people will say buzzwords:
>stealth addresses
>fungible
>truly anonymous
>ring signatures
but there are some serious shortcomings with the tech; mainly, it's not going anywhere and hasn't for some time. Zcash was a better option at this point, to him.

Also, Monero's leadership isn't organized.

>>14912634
>another brainlet thinking the establishment will not benefit itself from XMR anonimity

>>14912874
Fluffypony demonstrated interest recently for a paper with a zkSNARKS version without trusted setup.

>>14914102
>it doesn't deliver
It already delivered.

>>14914102
do you realize how retarded this sounds

Doubt it. mainstream customers don't really give a shit about privacy due the "got nothing to hide" mentality, nor do they want to risk association with "criminal money" as the meme has been pushed on them

>>14914226
same could be said about early days BTC nigger

>>14914233
Yeah, and the only people buying it now are poorfag speculators hoping to make big money, not use it to buy anything.

>>14914247
people buy it in hopes it will gain adoption in the future brainlet

>>14914257
Yeah, i'm sure all the ghetto blacks and pajeets whom are the second biggest groups besides NEET young white "master traders" buys for that reasoning.

>>14914266
Sit down. You're my bitch now faggot

>>14909766
Wew, are you salty you missed Swap or something?

If you want a 10x, buy $OTO and hold.

>>14914102
this couldn't be a shittier larp if you tried

stealth addresses and ring signatures may be buzzwords but are the actual terms for how monero works when describing it. What retard looks at ZCashes private mode and sees as more anonymous than Monero?

Zero knowledge proofs are an interesting concept at the moment but coins that exist for non private purposes that add private modes tend to not be as stringent about it because it's just a niche to the overall protocol. If Zero knowledge proofs can be proved to work better and truly have more security though Monero wouldn't be the first to implement it they'd damn well be sure to be the best at it

>>14914102
>Monero not going anywhere
yeah because they pretty much have a finished product at this point they are just fixing bugs and finding more ways to make it even more secure than before by adding shit like Krovi to the network