/biz/ - Business & Finance

>>8152512
Well either monero or some other privacy coin...
Privacy was one of the key elements of crypto in the first place...
The problem with Monero, even as a XMR supporter myself, is the problem with the high transaction fees, also mining it has been hijacked by botnets...

>>8152549
If you set the priority to lowest, the tx costs $1-2 and confirms in some minutes. With bulletproofs high tx costs won't be a problem anymore.

>>8152751
Still you must admit that mining it, unless you run a botnet is rather unprofitable...

It is severely undervalued.

>>8152549
Botnets and allegedly asic mining: solved in the march hardfork (pow change).
High fees: solved in september hardfork (bulletproof).

it will eventually settle in the top 3. still a bitch to use

>>8152512
>Explode
I think what will happen is that it will continue to correlate with bitcoin until such times as an exchange gets hacked or as you said the government starts to tax crypto.
I think one thing is more certain with monero is that it has a stronger case for adoption and its one of the coins that will most likely survive. Thats my two cents

>>8152836
I agree anon

>>8152512
Monero has a problem now that there's another privacy coin coming BTCP that has zk snarks tech, GPU mining, and the biggest brand name there is. Block limit will be doubled to 2 MB: quick and cheap tx's.

Monero OTOH is very expensive to send, has mining problems and a lead dev who always says the wrong thing (maybe on purpose), and there was a credible leak indicating the NSA/DOD run their exit nodes.
>https://www.deepdotweb.com/2018/01/31/leak-shows-us-army-nsa-compromised-tor-i2p-vpns-wants-track-monero/

The BTC brand is a monster and the tech is sound, hard to imagine Monero won't lose marketcap IMO.

>>8152883
Definitely will take away from its market but i think its far more likely to survive when Armageddon happens

by the way, XMR market share is at ATH (1.25%)

>>8152883
>The BTC brand is a monster and the tech is sound
you're gonna carry those bags. zcl team probably used xmr to wash the money they scammed from btcp.

>>8152927
You might be right but hopefully Armageddon doesn't happen. I'll buy back into Monero if it dips after the fork next week.

>>8153010
Weak FUD like this won't work when BTCP enters the market at $250-300. Anyone who didn't sell their ZCL on time will gain so much on BTCP it won't matter, whatever they got for their ZCL is just a bonus.

>>8152973
XMR ~45% market share of privacy coins
>xmr dash zcash zencash zcl pivx cloak xvg komodo aion enigma onion stealthcoin obsidian

>>8152973
No, it reached 1.5% in September 2016

>>8152512
my favorite alt right there

I don't get how Monero is supposed to help you avoid taxes. You eventually have to use an exchange to cash out to fiat.

You have to pay taxes on that, there's no way around it.

i love monero-chan so much

>>8152512
i've seen this anime whore posted too many times, now i want lewds

>>8153818
this

the only way i can see it being useful for evading taxes is if you buy online things with it, but they cna't catch people using regular crypto this way anyway at the moment

>>8152512
I had an old sell order that triggered a 20% sell off of my stack at .292. Hope it dips back down so I can buy it again. JUST.

>>8153818
>>8154714
This is all true but it does point out that Monero itself functions just like cash should. The problem isn't with Monero, it's with the bitcoin/fiat connection points.

>>8152883
What the fuck are you talking about? None of what you said about XMR makes any sense.

monero is being actively used by individuals like btc
can't see why it wouldnt explode desu

Monero was forked from cryptonote (start your own coin in 10min).

>>8152512
I rather slow growth. But it looks like the price might go over 500 Usd before the end of march. But if btc takes a dip so will Monero.

>Spends time on crypto board, still can’t figure out how to set XMR fee priority to x.25
>Bitches best coin is too expensive.

The abslote state of /biz

>Spends time on crypto board, still can’t figure out how to set XMR fee priority to x.25
>Bitches best coin is too expensive.

The absolute state of /biz

>>8155086
Spagni is infamous for putting his foot in his mouth newfag
https://www.coindesk.com/drugs-code-icos-moneros-long-road-blockchain-mainstream/
>"I don't care about the price increase, that shouldn't be the thing that makes people interested.
>"I thought, 'I'm going to pump it and dump it,' because I was interested and taking the ideas and implementing them in bitcoin. The bitcoin code base was far more interesting to me than monero, and I thought, 'I'm not going to work on this codebase, it's terrible,'
>Monero is the worl'd least professional crypto currency
https://steemit.com/cryptocurrency/@daut44/the-monero-pump-scandal

The mining issues already discussed ITT by others

The leaked doc is linked in the post you replied to. There were quite a few threads about this when it happened.

The tx fees and speed won't compete with BTCP. Probably not even with bulletproof.

>>8155813
You won't have to send BTCP in .25 slowmotion to save a few bucks.

>>8156053
Oh boy we have a shill.

>>8153818
>what is localmonero.com

>>8156114
Everyone on /biz/ is a shill.

>>8152512
monero needs more wallets. all the apps suck ass. why in the fuck is there not a decent wallet for this piece of shit yet?

>>8156523
the wallets on GNU/LINUX are fucking amazing, you want to run a shit OS like windows? then you get ashit wallet.

>>8156607
im stuck using mymonero.com and hoping i don't get exit scammed.

I don't own any monero but I really want some.

My brother works at a company in Australia and he told me the Chinese Corp his company deals with asked to be paid in monero. I asked him why and he said he's not sure but they told him they would give his company a better deal if they paid in XMR so they did. Probably to avoid tax. It was then I realized XMR was going to be huge...then I started to cry inside because I didn't buy XMR when it was $50 and even recently when it dipped to $200USD

>>8156157
That's fine, but you'll never be able to unload a lot that way. You'll have to keep most of the cash out of banks. And you'll never be able to make a major purchase that your income can't account for.

If you're ever caught you'll face serious penalties that will fuck you as well.

>>8156706
Worth the risk especially if the money wasn't earned through legitimate channels anyway.

>>8156053
BTCP is literally just another fork of Zclassic with some memes sprinkled in.

>Spagni is infamous for putting his foot in his mouth newfag
Spagni != Monero. He's not even a fucking dev.

>The tx fees and speed won't compete with BTCP. Probably not even with bulletproof.
RCT transaction size with Bulletproofs is 2.5kb for 2 outputs.
Zcash z-transaction size is about 2kb for 2 outputs.

>>8156706
buying stuff is overrated anyway. all you need is cash to live on so you don't have to wagecuck and buy vidya and maybe go on a few vacations. fuck buying homes. homes are a horrible investment.

>>8152512
not realzz... i mean look at the coin 'bitcoin private'. it tells you it's confidential right in the name. i didn't even know that monero was a private coin for ages...

>>8156758
>>8156782
Drug dealers and other illegal businesses don't really like cash since it's hard to use on major purchases. Which is why they go through the trouble of laundering it and making it seem like it comes from legitimate business sources. They're happy to pay 35%+ income tax on it in order to actually be able to spend their money without worry.

By trying to skirt the 20% capital gains, you're basically doing the opposite of what they do, and basically turning your clean (easy to spend) money into dirty (hard to spend) money. Seems dumb.

>buying stuff is overrated anyway. all you need is cash to live on so you don't have to wagecuck and buy vidya and maybe go on a few vacations. fuck buying homes. homes are a horrible investment.
You basically just described a lifestyle where you hardly even need money. If you can't spend money on expensive stuff, then there's no point in being rich in the first place. That extra money is worthless.

>>8156918
>If you can't spend money on expensive stuff, then there's no point in being rich in the first place. That extra money is worthless.

you've never been a wage slave or you would understand getting out of wage slavery is worth more than any car or house.

>>8156832
could that be because you're a moron?

>>8152822
Doesn't solve botnets, any modern made botnet have c&c servers to update the payloads. They will probably be up to date faster than any normal miner. On the other hand ASICs will be screwed, not that I've seen any on the market, but according to fluffy they exist.

>>8157004
monero is like the most profitable coin to mine right now.

>>8152883
You realize you have no idea what you're talking about right?

>>8152512

monero fags have always been cancer. it all always revolves around fraudulent activity. every thread full of absolutely retarded people who remind me of edgy high schoolers who think that they owe nothing to no one and can operate outside society. if you use monero to hide from taxes you can't make large purchases period. you aren't rich if you have no leverage with your money or freedom, you aren't rich if you think going to ridiculous lengths and effort to pay small amounts of cash here and there to offset your bills makes you rich. when you get audited at some point because of your already dubious practices you're going to get raped. monero has the biggest community of crypto cockroaches of any community. they just want to scurry around in the dark eating crumbs rather than ever pay something like long term capital gains. they will go to every effort to avoid ever doing the right thing. the very nature of the monero user makes the currency unattractive to a wider audience.

Who here /all-in/?

>>8156523
the desktop wallet is pretty snazzy. there's nothing wrong with it, faggot.

i think it will start dumping poo poo soon, get your leveraged shorts ready

>>8152512
monero lags bitcoin often and it's easy to make money that way

Help me out here all of you guys that are bad to the bone tax dodgers. How do you ever expect to get your crypto money into your bank account? Just say you bought in 2012 and held for years? What if in a year or three Binance makes an agreement to give the irs account info? Do you guys even know what FBAR is? And that it’s a $10k fine per occurrence and possible jail time if you don’t file?
I’m really looking for answers, not fudding or an irs shill.

>>8159103
it needs to download a huge blockchain. My macbook air stopped being able to update that late last year. I know have to move my wallet to the desktop computer.

>>8152512

thanks just bought ???k.

>>8158242
>rather than ever pay something like long term capital gains. they will go to every effort to avoid ever doing the right thing.

Paying taxes is wrong. In many countries now it's 50% or over not including sales taxes, real estate taxes, and such. That's real oppression.

>>8158242
>financial privacy is only for criminals waaaaa montero bad
Wow dude.

>>8159708
bbbut Hillary got off free from felonies for "negligence" so why cant I?

No.

>>8159721
use a remote node, dumbass. you won't have optimum privacy, but your transactions are still private.

>>8152512
Monero will be done as soon as noobs understand why it is anonymous, then they will start going after Neblio Tokens

>>8159721
this.

why isn't there any desktop wallets like electrum that don't require you downloading a fuck huge chain just to use a simple wallet.

>>8152512
You only need privacy if you're doing illegal things. Give me a few examples for Monero's use case that doesn't involve anything illegal, such as money laundering, buying drugs and tax evasion, please

>>8160746
YOu're purchasing supplies and don't want compeitors to know how much you're spending

>>8160746
You sound like somebody who likes to fill out forms and gives his data for free so others cann capitalize it. Sorry Mr. Political Correct, non public ledger coins are nothing for you just fuck off and buy some ripple

>>8160746
to avoid the nwo

>>8160551
Have you tried googling your problem?

>>8160746
Here is an example: donating money to Christopher Cantwell and other white nationalists.

>>8153484
You forgot phore.

>>8160784
That's actually really smart. Didn't think of that, thank you

Think it's worth it to buy monero at current price, as a long-term investment?

>>8152883
>Monero
>exit nodes

>>8152512
I think MoneroV will compromise Monero privacy and Monero will go to $0.00

>>8159721

Was your Macbook made in 1970? I run the wallet on my Macbook in a VirtualBox instance of Linux with no problems.

And like another anon said, just connect to a remote node (via Tor if you want) if you’d rather not wait for blocks to download.

>>8160746

Politically unpopular donations or activities. Running any kind of business with a non-public balance sheet. Staying off “rich lists” to avoid targeting by criminals.

>>8161257
obviously wholeheartedly yes

Buying fishscale never felt this comfy

>>8160746
buying perfectly legal yet embarrassing items like dragon dildos

The only useful learnings from this thread are, “we should make a one-page guide for retards covering the GUI wallet and remote nodes.”

>>8160746
Contributing for a utopic anarcho-capitalist society

>>8160746
just google cypherpunk u illeterate faggot

>>8159129
Why do you say that? As far as I can tell, it's the best privacy alt there is by a mile.

>>8152512
>Be irs
>Oh anon hasn't paid his taxes this year
>Anon doesn't have any cash but owns a mansion
>Picks up phone
>Hey coinbase/gemini/etc did anon buy eth/btc/ltc and send it somewhere else to buy xmr?
Pic related
It's your asshole after you go to prison for tax evasion and money laundering.

>>8161756
>oh yeah I have bought some xmr some month ago
>but I get scamed and send all my xmr to some nigger in africa
>wait you didn't see it, I through NSA was some expert hacker, too bad for you

You guys do realize Monero is not all that anonymous people think, right?

>>8158242
How much Ripple are you bagholding?

>>8162159
>>8161756
>buy literally anything through an exchange
>""""anonymous""""

>>8157742
>>8161342
Leak Shows US Army and NSA Compromised Tor, I2P, VPNs and Wants to Track Monero
>>https://www.deepdotweb.com/2018/01/31/leak-shows-us-army-nsa-compromised-tor-i2p-vpns-wants-track-monero/
there are many, many other sources available if you want to search it yourself.

>>8162224
Sure, you can always withdraw it to a wallet, but there's a risk to get scammed.

>>8152549

botnets are great for decentralization. its a plus to me, unless you want all profits go to to subsidized chinese miners with cheap energy

>>8152816
there used to be a guy with a bunker posting in /diy/

its pretty mad, the bunker is carved out inside a cave and has server rooms that mine XMR to heat up the place

>>8162324

>Wants to track

If course, because they currently can’t :)

>>8159721
>My macbook air