/biz/ - Business & Finance

>>26378240
monero is a scam don't buy it

>>26378320
first shill your shitcoin ranjeesh
then fud monero

Just bought some this morning feeling comfy

>claims to be anonymous
>can be tracked by the breadcrumbing of fractured ring signatures

Why do I get the feel that KYC exchanges are trying to bait me by making Monero an option.

>>26379191
Stop being a fudfaggot anon. You le trolling is gay.

More cheapies incoming!

Also does anyone have a higher res version of pic related

>>26378240
Thanks for making these generals OP!
Biz is moving fast today but the more these generals are made the better of a community we can build on here :)

>>26378240
Why does my PC start lagging horribly and make broken audio when I have my node fully synced? It's showing no CPU usage and I'm not mining. Should I just fully resync the blockchain?

>>26380300
Finally, a based ID

>>26380300
That's not from a blockchain corruption, what cpu do you use? Monero blocks take a lot more cpu and ram to validate than Bitcoin blocks do. If you wanna host a node you should get a dedicated system to do so, otherwise just run it when needed

>>26378852
Also bought some this morning. Generation wealth building.

>>26378320
Based. I unironically sold my Monero for ZCash. Monero is a shitcoin.

>>26380495
just market sold everything as soon as I read this

>>26380467
The thing is, it was working fine a while ago until an update. It could be something to do with disconnecting the internet while syncing

>>26380495
ZEC is the real sleeping giant. /biz/ prefers collecting scams as usual.

>UNKNOWN AMMOUNT!

This is now a ZECchad thread

>not accumulating as much XMR as humanly possible

ISHYGDDT

Here's my thinking. The powers that be don't like Monero, and will eventually ban exchanges from listing it and people from using them on stores.
Of course, there's the darknet. But, isn't XMR the primary means of payment right now on the darknet? Meaning, the current price already reflects the value it holds in that community, plus an extra of interested investors. Once it gets banned, investors will sell, and it will only be held and used for the darknet, meaning the price is probably going to stay about the same as it is now, if not lower. Which means, at least from an investment point of view, there isn't much of a future here.

Please prove me wrong. I'd love to believe the opposite.

>>26381750
XMR is not truly the primary means of payment on the DN yet. There are plenty of places still accepting Bitcoin.

>>26381750
It assumes that it will be banned. If the full of shit CEO of chainanalysis actually wants to convince the IRS he can track monero, he needs as much metadata from exchanges as possible. It motivates the powers at be to actually allow it.

>>26381129
>This is now a PirateChad thread

>>26381750
You are partly correct. However only a small amount of illicit money is in XMR atm. I definitely see a potential for upswing.

ALSO xmr is a shitcoin that dropped 17th place. Fucking pos retard coin.

Still love you Monero

>>26381750
(((The powers that be))) don't like Monero because it replaces all of advertising psychology with what is basically a CPU driven coin miner. It generates profits from time engaged on a webpage. IE if NYT had an article that was particularly long, running a Monera miner and taking 10% of their CPU while the user read the page would be generating some profits which competes directly against conventional advertising.
As such Monero is a dangerous technology. Its an anti-establishment technology.
Monero is exactly the type of standard I want to support. However that makes it exactly the type of standard that Jewish power structures seek to destroy.

>>26381750
did you already forget history, anon? this is literally how Bitcoin started. Everyone also thought bitcoin would be banned, it's only used by criminals and blablabla, look where we are now. do you really think the average person want to have transactions pubicly available on the transparent ledger?

whats the deal with all the pedocoin shilling lately ?

>>26381835
Imagine buying drugs with a non anonymous crypto.

>>26382605
I don't participate in none of that but I agree, just stating the facts for him though

>>26381750
Think about it this way:
the industry is adopting cryptos like BTC.
BTC and others have a massive flaw: they are not anonymous at all but totally public, way less private than a bank account.
If there is a demand for BTC and other cryptos in legitimate business and applications based on their blockchains, then a truly anonymous crypto will definitely have a demand.
But yeah, it could get banned if this above mentioned business demand is delayed too much. I don't think that's gonna happen

https://www.publish0x.com/why-your-coin-sucks/why-your-coin-sucks-monero-xrygelk

>>26381750
>Here's my thinking. The powers that be don't like Monero, and will eventually ban exchanges from listing it and people from using them on stores.

Big deal. Atomic swaps.


>But, isn't XMR the primary means of payment right now on the darknet?

Not yet but well on its way to displacing Bitcoin entirely.


>Meaning, the current price already reflects the value it holds in that community, plus an extra of interested investors.

The current crypto market is a massive speculative bubble being fueled by the get-rich-quick fantasies of greedy plebs, price is therefore a useless indicator of true value.


>Once it gets banned, investors will sell,

Why would they sell? XMR won't get banned for being useless, it'll get banned for working too well. And when something is that effective, it drives demand up. And when you couple demand with scarcity, the price goes up.


>and it will only be held and used for the darknet

The darknet markets are small potatoes in comparison to the capital sloshing around in the offshore, tax evasion and money laundering sectors. The global shadow economy is valued in the TRILLIONS of dollars and those folks fucking covet reliable transactional privacy above all else.

Now just sit back and think about that for a minute.

>>26378240
Pretty crazy that there are so few Monero nodes. I host a full node on my 2nd machine. Even bitcoin has under 2,000 full nodes. Crazy that the network can be so strong with so few full nodes. It makes me think we can build a new internet 3.0 on distributed networks.

>>26382668
that’s probably the shittiest article I‘ve ever read, literslly not worth the battery it takes on your phone to load this „article“

>all of these 1pbtids fudding
Seriously go fucking kill yourself fudfaggot

>>26382641
For the price of XMR to go up alot we will need BTC-XMR atomic swaps, which are taking forever and the "team" seems to be taking a break.

Love monero. Got a nice stack myself. Will build it bigger in the coming year

>>26382916
lol. they are working hard af. swaps already work on the testnets. gtfo

>>26382719
How does one launder money with XMR exactly?
I want to think about what kind of potential it can have in that sector. If it does indeed work, I might as well get rich off of those bastards.

i have never met a bunch of retards that were so happy to lose money as the people here
thank you everyone

>>26381750
friendly reminder

>>26383405
>How does one launder money with XMR exactly?
>I want to think about what kind of potential it can have in that sector. If it does indeed work, I might as well get rich off of those bastards.

See screenshot. XMR enables a full wipe of previous transactional history, which is a money launderer's wet dream.

Money laundering via crypto and specifically Monero is the wave of the future.

>>26378320
say the line shill!
>>26380475
>>26378852
based

>>26382227
average joe is too dumb to understand monero which is why so many people think bitcoin is anon. also most people do not really care about privacy. in the west most people use creditcards for small benefits in points. in china monero will never be allowed. so while i love monero i do not think it will get adpoted by the masses.

>>26383949
Right and Bitcoin Will keep going up forever, because it's n1 and number go up
Retard

Reposting here as suggested, instead of in /biz/ general:

Newfag looking to buy Monero (XMR). Worried about running afoul of US tax laws.
In before, DYOR. Can you recommend some places to read up on?

I'm worried that I could get cancelled for wrongthink sometime in the future. (Not trying to start a /pol/ discussion. Just explaining my motivations.)
Right now, that could mean loosing your job, or Paypal freezing your assets. But what if it gets worse?
I'd like to protect myself by having hidden, untraceable fuck-you-money. So I can just leave and go somewhere else if need be.
Additionaly, new tax laws may be created to punish owning and selling all crypto; or at least the privacy ones, like XMR.

But, maybe things wont be so bad in a few years. Think slow rot (nothing.ever.happens.jpg)
Under those circumstances, I'll want to buy a house here in the US instead. (Not as an investment. Just because I want one)
Now I have to figure out how to cash out my Monero and pay taxes on it.

Present Day:
>Use cash to buy Bitcoin at physical ATM machine, on to digital wallet.
>Use non-KYC exchange, like Binance or incognito.org to convert Bitcoin to Monero.
>Keep a thorough ledger of all transactions.
Several Years Later:
>Cash out Monero for USD.
>Pay taxes for current year when I cash out.

Is it that simple?
Or am I supposed to report on my taxes the crypto I own each year, even if I haven't converted it to cash?
Do I have to report if I exchange one crypto for another?
Am I better off trying to buy Monero directly off a KYC exchange, so I can get tax forms?

Can any US anons relate how they've handled the taxes issue.

>>26384158
based
I hope someone replies I have no information on US regulations

>>26383769
Nice.

>>26383949
>also most people do not really care about privacy
until articles like this https://www.bloomberg.com/news/articles/2021-01-19/far-right-groups-get-bitcoin-windfall-weeks-before-capitol-riot start coming out and people go after each other for what they spend, or even worse they start not accepting Bitcoin from those people because of its "history"

>in china monero will never be allowed
and china tried to ban Bitcoin also. Big news, read this again: >>26382227

Nocoiner from a third world country where cryptocoins are an unknown concept that nobody use: What's the best method to buy a decent amount of Monero and save it for an emergency without revealing my personal identity? I checked Local Monero, but the only seller on my country asks for a lot of data.

>>26385497
Buy Bitcoin and then swap to Monero using a non kyc option such as bisq or trade ogre.

>>26385497
Maybe binance, if I'm not mistaken they only ask for KYC on the USA

>>26385497
based 3rd worlder bro
here we dont have local monero or bitcoin
so people usually get them peer to peer from telegram groups we made and we vote on the trade afterwards to show reputation
not much XMR sellers but you can use non-kyc to convert
welcome to the revolution

>>26382313
dont know.

>>26384158
You dont have to mention crypto if you hold for more than a year.
You only have to report for short term gains I think.
There was a tax thread here recently, check out the archives

>>26385497
Binance doesn't require KYC, but your withdrawal limit is locked below 2 BTC/day

is it possible to buy a house in the future directly with monero?

why general not reaching bump limit recently?

>>26385732
>>26386409
Can I buy Monero directly on Binance, or is the non-KYC feature only for Bitcoin (which would mean that I also need to exchange it for Monero elsewhere as
>>26385716 said)?

>>26385777 (checked)
Have you or your partners used Binance, or does it have a regional block?

>>26387249
regional block and banks never allowed us to purchase crypto
the major sellers have offshore accounts abroad and sell crypto at a premium here

>>26383949
>average joe is too dumb to understand crypto which is why so many people think cash is anon. also most people do not really care about privacy. in the west most people use creditcards for small benefits in points. in china monero will never be allowed. so while i love Bitcoin i do not think it will get adpoted by the masses

>>26387108
Biz has been moving faster.
If you’re an xmr chad help out by giving the threads a bump

Am I the only one who is so fkin comfy with his unknown amount?

>>26383558
Whitepill

>>26387730
Beyond comfy.

I’ve already started wearing knit sweaters 24/7 just to keep comfy equilibrium.

>>26384158
Check out bitcoin.tax

call me a schizo but the black money is in control of the price. if it moons it will only draw more attention. organic growth is based and they know it. this is the next step and they have a huge stake in xmr succeeding. they’ll never go 100% xmr but even 10% is huge.

>>26388367
Everyone should host a full Monero node

>>26387108
Lack of interest in the coin desu.

>>26387730
Sitting comfy

Monebros, my goal is to remove as much traces as possible of my past crypto activity. I bought Bitcoin using cash, then used Binance to convert it to Monero. Without real KYC on Binance but I did enable 2FA using my mobile phone (a mistake maybe)... If I remove my phone number from my Binance account, am I clear in your opinion? Should I delete my Binance account to be safe? Or do you think my identity is now linked to some crypto activity forever?

>>26387108
/biz/'s thread creation has been really high since Bitcoin started pumping like crazy (sometimes is as fast as /v/ or /pol/), and the constant influx of new threads kill older ones in minutes if they aren't bumped.

>>26388857
I'm new as fuck, but I assume that for maximum privacy and security you need to move your money from your Binance account to a local wallet stored on a PC (or even a phone) you don't use very often and then disconnect it from internet umtil you need the money. This way the only way to obtain your money would be by stealing your PC and forcing you to give the passwords to the attacker, which is way better than having your phone, Binance, PC and internetbconmection as potential vectors of attack). At least this is what I was planning to do.

>>26387108
Despair

>>26389204
I moved the coins out of Binance as soon as the swap was done, of course! But they still have my history and phone number.

>>26378240
I feel it Monero I am finally going to make it

>>26385882
>This article is more than 5 years old
Monero today truly is Bitcoin in 2015

>>26390198
Real question, how do we FUD monero more, so we can accumulate at much lower prices?>>26382313
You can only buy pizza in Monero

>>26382735
It is because they actively twart asics. Keeping it profitably for a anybody to mine with a recent CPU.

The hashrate is actually different compared to BTC if you think about it. BTC only has this enormous hashrate because of ASICS which inflates the actual "power" being invested in it.

>>26382916
They have to wait for shorr signatures to be implemented in BTC. Which will take months. But true there is 0 progress on monero's website. But those retards won't get the money before they complete it so they could just make somebody else do it

Bump

Bump

>>26390287
I feel like the crab already makes moonboys and investors FUD about the price and it not being an actual investment, also it lost 2 positions on the coin ranking recently so it's all coming along perfectly for us to accumulate

>>26392564
We need a big scandal, we need Monero to go to $1, hopefully a couple of whales push the CP meme on the news

>>26392719
It could go as low as $50 in a prolonged bear market.

>>26382735
> It makes me think we can build a new internet 3.0 on distributed networks.

most of the current internet is based on only a handful of "nodes". But theres a lot more monero nodes , they just arent all online at the same time, most people who run nodes only have them active when they are using the token, so the average your seeing is dedicated nodes. And this is the biggest benefit of distributed networks, you can hop on or off anytime without issue!

>>26393852
currently running my node now. feeling very comfy.

>>26393852
I read that it takes hours to startup and sync a node. I feel like most users would leave it on for that reason.

>>26395083
This is only on the initial set up.
Earlier today I was 24 hours behind and it took a couple minutes to sync.

>>26395083
Use a remote node