/biz/ - Business & Finance

>>28773982
Monero will continue to grow and succeed. Just like Litecoin. Its not going anywhere. How big and how fast,? I do not know. But its a sturdy coin.

>>28773982

I traded my 0.01 BTC and 0.1 ETH for XMR

I hope it will outperform them but IDK time will tell

>>28774382
I just did something similar with my BTC and ETH a few days ago

Friendly reminder that Monero is poised to become the reserve cryptocurrency of the global shadow economy and is currently replacing BTC on the darknet while also making inroads into the cyber-crime and money laundering sectors.

>Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos
https://cointelegraph.com/news/bitcoin-will-never-be-truly-private-says-andreas-antonopoulos

>Bitcoin is too hot for criminals. They're using Monero instead
https://money.cnn.com/2018/01/03/technology/bitcoin-popularity-criminals-monero/index.html

>Crooks opt for Monero as crypto of choice to launder ill-gotten gains
https://www.theregister.com/2018/03/16/cyber_crime_economics/

>Darknet Giant White House Market Drops Bitcoin, Supports Monero Payments Only
https://news.bitcoin.com/darknet-giant-white-house-market-drops-bitcoin-supports-monero-payments-only/

>Monero replaces Bitcoin for Sodinokibi Ransomware operators
https://www.cybersecurity-insiders.com/monero-replaces-bitcoin-for-sodinokibi-ransomware-operators/

>$7.5M in Monero Demanded in Alleged Cyber Attack on Argentinian Telecom Giant
https://www.financemagnates.com/cryptocurrency/news/7-5m-in-monero-demanded-in-alleged-cyber-attack-on-argentinian-telecom-giant/

>Latin American crime cartels turn to cryptocurrencies for money laundering
https://www.reuters.com/article/mexico-bitcoin-insight-idUSKBN28I1KD

>Criminals laundered $2.8 billion in 2019 using crypto exchanges, finds a new analysis
https://www.technologyreview.com/2020/01/16/130843/cryptocurrency-money-laundering-exchanges/

>Why untraceable cryptocurrencies are here to stay
https://www.cbs.dk/en/the-press/news/why-untraceable-cryptocurrencies-are-here-to-stay

Considering that the global shadow economy is valued in the TRILLIONS of dollars, even if just a portion of that ends up in Monero's market cap that is still HUNDREDS of billions of dollars. 5 figure XMR is inevitable.

Any thoughts on governments attempting to censor XMR due its association with illegal activities (DN markets)? For me its not an issue but perhaps it could discourage wider adoption of the coin, although I see privacy becoming one of the growing interests in technology in these coming years so lets see.

>>28774885
>Any thoughts on governments attempting to censor XMR due its association with illegal activities (DN markets)? For me its not an issue but perhaps it could discourage wider adoption of the coin, although I see privacy becoming one of the growing interests in technology in these coming years so lets see.

Atomic swaps render any kind of suppressive regulation futile. If anything, banning Monero would in effect be an admission of its efficacy and reliability, which would only draw more criminals to it.

>>28774885
>Any thoughts on governments attempting to censor XMR due its association with illegal activities (DN markets)?
Proof that this shit is worth it.

Can someone explain to me that is it possible to evade tax with monero? If so, how?

t. not a glowie or mutt

>>28774874
Thanks Anon for your input, in the short term this definitely makes xmr a great investment opportunity but makes me wonder about the long term future of the coin and cryptos in general, could goverenments really do much if they wanted to attempt to sanction privacycoins or cryptocurrency in general.

>>28775179
I'd tell you but I don't have any monero left after I sent it all to the wrong address

>>28775055
could you elaborate what you mean, thanks.

>>28775349
kek, very clever.

>>28775349


Oh I'm so sorry for you anon I lost mine in a boating accident but I hope that IRS will believe me

>>28775049
I have heard mention of atomic swaps before, but i dont understand what they are how they work, are thay something which exists and is working currently or an idea which is being developed.

This is true, but will discourage mass adoption of a great decentralised currency, still great investment opportunity for those with the know how and foresight.

>>28775419
Won't hold up in court. Pay your taxes.

>>28775214
>could goverenments really do much if they wanted to attempt to sanction privacycoins or cryptocurrency in general.

Decentralized P2P networks have historically shown themselves to be highly resilient and adaptive and most of XMR's core devs are anonymous and very OPSEC-savvy, so the worst they could realistically accomplish is outlawing Monero and delisting it in key jurisdictions.

However, as explained in the previous post, with atomic swaps on the way this would be futile since the on/off ramps would be other cryptos, you'd have to also ban BTC, LTC, ETH and whatever other chains XMR swaps are ported to.

Basically, the crypto cat is out of the bag and governments will have to adjust to this new fact of life.

>>28774382
>>28774874
How do I buy this token?

>>28775848
Binance lists it, you can deposit fiat with a bank transfer for free and buy it or use some other cryptos to purchase.

WHERE TO GET MONERO?

>KYC:
Kraken
Binance
Bitfinex

>Non KYC:
Local Monero
Bisq
Kucoin
Tradeogre
Crypto ATMs
see: kycnot.me

>>28775724
would you mind sharing what other coins you hold anon? Have any advice on other solid coins with good fundamentals that are here to stay? or any good opportunities in general.

>>28775616
>I have heard mention of atomic swaps before, but i dont understand what they are how they work, are thay something which exists and is working currently or an idea which is being developed.

Atomic swaps are a way of directly exchanging crypto without a 3rd party (exchange) and with zero counterparty risk i.e. no possibility of getting scammed or ripped off, its basically escrow via smart contract.

This is significant for Monero because it means any kind of repressive regulation or outright banning won't prevent its acquisition or trade.

So, say Monero is banned and delisted from exchanges. All you'd have to do to buy some is:

1. Buy BTC/LTC/ETH/whatever on Coinbase

2. Send to custom wallet/AS client.

3. Select swap offer and initiate

4. You now have XMR.

And to sell you just do the above in reverse.

>>28776277
>would you mind sharing what other coins you hold anon? Have any advice on other solid coins with good fundamentals that are here to stay? or any good opportunities in general.

Honestly, XMR is my only hold these days since its the only one I feel will survive the next 10 years. Lost my faith in BTC years ago and ETH is sluggish with plenty of competitors on its heels.

But always DYOR.

>holding pedocoins
I hope you guys don't do this

>>28775848
I'm in the US so no Binance for me. The easiest way I found was to buy bitcoin, send it to cake wallet and exchange for xmr.

>>28775542
I really hope they introduce a boating accident recovery protocol as a second layer.

>>28775724
That the government cares so much about shutting it down is reason enough to have it. But historically the government has won these kinds of battles. If they can't control it, or at least find a way to de-anonymize it, they will probably try to criminalize it. They're already trying to criminalize it in public opinion the same way they did with bitcoin.

But this time they can't settle for tracking transactions through the blockchain so my fear is they'll have no other choice but legislation.

>>28776870
>If they can't control it, or at least find a way to de-anonymize it, they will probably try to criminalize it. They're already trying to criminalize it in public opinion the same way they did with bitcoin.

They've done all that with P2P piracy, 20+ years later its still around and stronger than ever.

>But this time they can't settle for tracking transactions through the blockchain so my fear is they'll have no other choice but legislation

Yeah, but what is the worst they can do with legislation?

>>28776526
I understand the premise and result, but dont understand the technology behind it, my main question is what the status of its development/implementation is.

>>28773982
comfiest hold

>>28776784
what are you holding instead anon?

>>28777315
>I understand the premise and result, but dont understand the technology behind it, my main question is what the status of its development/implementation is.

There are several teams individually working on various aspects of XMR<->BTC atomic swaps.

Farcaster: https://www.reddit.com/r/Monero/comments/l9offg/farcaster_community_update_january/

COMIT: https://www.reddit.com/r/Monero/comments/kwbzrh/xmrbtc_on_stagenet_update_by_comit/

Thorchain: https://twitter.com/thorchain_org/status/1359266101478125571

>>28777488
xrp

>>28777315
Yes, please, can anyone elaborate on this? Or provide some resources for us to look at other than infographics

>>28773982
64 XMR stacklet checking in

>>28778266
Nevermind, thanks >>28777737

Awwwwww what’s the matter jannie? Did you not like my other Monero thread? Are you afraid of my spicy, stealthy coins? Does it hurt having to watch people get rich every day while you have to sift through 4chan drivel?

Fuck Jannies.

>>28778131
Nigga you just exposed yourself as a gigaretard

Is it worth mining monero?

>>28778266
>Yes, please, can anyone elaborate on this? Or provide some resources for us to look at other than infographics

A more technical explanation of atomic swaps can be read here: https://localmonero.co/knowledge/monero-atomic-swaps

>>28778770
Yes, especially considering we’re approaching tail emission.

Soon you won’t have to worry about your rigs being useless dead weight in 6 months

>>28773982
Pic related

>>28775681
How could I pay taxes on my losses?

>>28778341
>64 XMR stacklet checking in

Actually quite comfy. If XMR hits its projected end-of-decade price 64 XMR = $2.5 million.

>>28776725
why don't you think BTC will survive the next 10 years?

>>28773982
the only proof of work network that still matters. I'm buying a nice new high end Ryzen setup soon. and i will mine this.

>>28780397
whats the cost for the rig you are planing to purchase?

>>28780640
im just buying a higher end new set up it will cost around 2k or 3k euro can go up to 5k. XMR still has a fair mining algoritm (RandomX) and You can actually profitabily mine it with consumer grade hardware. Ryzen new cpues are exceptionally good at mining it.

I have taken some profit and I am investing a small part of it in a nice very heavy computer that will last me 5 years at least. I will probably be able to mine a few moneros with it. considering the price will do a few X over that timespan I will pay back the computer and hve some profit too with the moneros I have mined.

>>28780254
>why don't you think BTC will survive the next 10 years?

1. Its fundamental technical limitations mean it will likely never achieve a reliable i.e. Monero-tier degree of privacy and fungibility.

>Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos

In a livestream Q&A on Antonopoulos’ YouTube channel on July 7, he said Bitcoin (BTC) was unlikely to ever implement privacy features similar to those used by Monero (XMR).

Antonopoulos said creating such features on a cryptocurrency like BTC “would create an enormous amount of controversy.” In addition, he said the structure of Bitcoin simply doesn’t allow ring signatures and stealth addresses.

“I think what we’re going to see soon is Schnorr, Taproot, and Tapscript, which open the door to a lot of improvements,” Antonopoulos said, “But they still do not involve zero-knowledge proofs or the types of ring signatures and stealth addresses that are done in Monero. Bitcoin is not a privacy coin.”

Bitcoin can be better thought of as pseudonymous rather than fully anonymous, as many transactions on the BTC blockchain can still be traced even with these privacy improvements.

>https://cointelegraph.com/news/bitcoin-will-never-be-truly-private-says-andreas-antonopoulos

2. Insufficient privacy and fungibility mean BTC taint issues will continue to snowball and thus BTC will continue being blacklisted by governmental agencies, primarily OFAC aka the US Treasury. Pic related.

3. As Bitcoin develops a reputation for being vulnerable to governmental blacklisting and effective seizure, confidence will inevitably erode and hodlers will start to jump ship to more secure protocols, primarily XMR.

>>28780936
BTC will (has) become the exchange-traded bait coin for airheads and Monero will continue to be the de facto king of private money.

>>28781250
>BTC will (has) become the exchange-traded bait coin for airheads and Monero will continue to be the de facto king of private money.

Pretty much. Its just a matter of how long it takes for the mainstream to realize Emperor Bitcoin has no clothes.

the price is almost plane on BTC. WIll it pump in sats ?

Wyckoff Accumulation bottom. Good entry point to Long right now. We are all going to make it.

>>28773982
I sold my Monero for 0xMonero. Monero is just an overpriced fork of Bytecoin.

>>28782279
pajeet detected

>>28775542
same, a seagull grabbed my flash drive

>>28782074
ta ples go

>>28782907
my dog ate my paper wallet unfortunately

Monero is broken, upgrade your Monero to 0xMonero

>>28783086
>my dog ate my paper wallet unfortunately

Got shot in the head and lost my brain wallet.

>>28782279
>>28783211
nope. 0xmonero is still vaporware bullshit
just like the last hundred times you spammed it
stop trying to steal from people by lying to them about the capabilities of the project
https://www.reddit.com/r/CryptoMoonShots/comments/i27fhk/0xmonero_summary_of_findings/
>>>>/biz/thread/S24750658#p24755504

yo bros, i have a shitty ass mac, how long should it take for my gui wallet to sync up? how long does it take to download the blockchain:?

>>28783561
Depends on your internet connection, usually leaving it overnight would do