/biz/ - Business & Finance

None

The Monero use case most people are familiar with is buying drugs on the Darknet. Monero is used very successfully for that purpose and preferred by those engaging in illicit activity, but it has value to anyone who values financial privacy or wants to shield their transactions from interference by third parties.
Men in hostile divorces, those facing asset seizure due to civil litigation or the tax-man, those in countries whose policies are leading to hyperinflation, and people who object to their tax dollars being spent unethically could all use Monero as a solution to their problems.

https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
>"According to public records, the Drug Enforcement Administration and the Internal Revenue Service are planning to buy licenses from Coinbase for a cloud-based software called Coinbase Analytics. According to the prospective DEA contract, Coinbase's software will provide "identity attribution" for crypto addresses both domestically and internationally."
https://blog.chainalysis.com/reports/introducing-chainalysis-investigation-compliance-support-dash-zcash
>"Dash and Zcash allow users to conduct transactions with greater privacy, but that doesn’t mean they provide total anonymity. The two cryptocurrencies’ privacy features — both in how they’re built as well as how they’re used in the real world — leave room for investigators and compliance professionals to investigate suspicious or illicit activity and maintain compliance. With Chainalysis product’s support, cryptocurrency businesses are now able to incorporate Dash and Zcash into their compliance programmes."

Is monero considered a shitcoin?

https://asia.nikkei.com/Spotlight/Comment/China-takes-battle-for-cryptocurrency-hegemony-to-new-stage
>At a meeting of the Chinese People's Political Consultative Conference, a political advisory body, at the Great Hall of the People in Beijing from May 21, 10 members proposed a plan to create a digital currency consisting of the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar.
https://finance.yahoo.com/news/digital-dollar-real-financial-inclusion-192508257.html
>On Thursday the House Financial Services Committee (FSC) Task Force on Financial Technology convened on Capitol Hill to discuss the possible role of a digital dollar in distributing COVID-19 relief payments. The watchdogs discussed FedAccounts, or cryptographic wallets held by the Federal Reserve, for commercial banking services. The National Science Foundation, an independent branch of the federal government, has given blockchain startup KRNC $225,000 to design cryptocurrency features for the U.S. dollar.

>>19792879
Monero is the only legitimate crypto used as currency outside of Bitcoin.

Is monero only private if you use a VPN?

>>19792879
By some people, sure. But so is every cryptocurrency.

Monero has been around since April, 2014. It's entirely open source, it has a core team of 30 developers and over 500 people have contributed code to the project. It has one of the most dedicated communities in crypto, and is utilized more widely for transactions on the DNM than any coin but BTC. By my standards, that places it far above the flash-in-the-pan projects that I would label as shitcoins.

>>19792704
I made 3% returns on $10,000 US off this price movement today. Feeling comfy.

>>19792938
No. It’s privacy is built into the base layer.

>>19792938
No! Monero has privacy built into its mechanics- it's the root priority of the dev team. However, as a privacy focused community, we highly recommend that you do everything you can- including using a vpn -to ensure your privacy.

https://m.youtube.com/watch?v=zTXCJv0YRTY
Fungibility Music Video because it's fun

None

A few solid days of transactions after the recent drop. Currently we are hugging 12k for the day.

The Rebel's coin

I'm comfy lads.

Yes we all in this together
We’re are early bro’s
Fomooooo

I am millionaire** .... I mean we are all going to be millionaires

Pajeet free

We’re rebels bro government Afraid of mmuh shitcoin

Glowies are gonna miss out

>>19794749
Why do you specifically post this troll in monero threads instead of the dozens of shitcoin threads on the front page. Why are you not posting it in uniswap scam threads or ghost threads? Why target monero, arguably the only crypto community on here that stresses not being a moonboy?
Gee I wonder why.

>>19794822
Bro what are you up to .
You only troll Monero
We’re not moon boys

Muh utility
Muh privacy
Obviously a whale lowering prices

169 iq

Warning this is a scam

Warning this is a scam
Warning this is a scam


Warning this is a scam

>>19794896
https://bitinfocharts.com/comparison/monero-transactions.html
If this is a scam, why is it showing long term growth through rising txs? Let me guess, instead of answering you’ll just post some onions spam to try to fud this thread.

This pictures says it all

Dead bag holders

Good luck in crypto limbo

>>19794952
Why are you ignoring my question about rising transactions?

>>19794952
Opinions are like assholes

>>19792911
Monero Is only legitimate crypto coin besides bitcoin- monero bag holder

12k transactions moooniiing

Rebel coin bro’s

We’re just getting started

Why you no answer my question about transactions going down

Been around since 2014 bro’s were so early fomoooooo

12k transactions mooooning bro’s

7yr old coin lol haha haha

Lol @ this glownigger. It’s not even good fud, it’s just sad.

>>19795118
No glowies allowed in muh post about muh coin mug privacy

>>19795094
Proving my point.

>>19795094
at least the fud pic is funny

>>19794749
>>19794896
>>19795151

Oooh boy, it's my favorite faggot, Elmer FUD.
How's being friendless been treating you, Elmer? Care to have a conversation today, or will you just continue with the strawmanning?

For the filthy speculators among us, what's the upside potential on this in 2020? In comparison to the other blue chips.

>>19796279
The upside is that we are in the accumulation phase. So despite Monero having a growing market share on the dark net — and frankly being about 18 months away from being the coin of choice on there — Monero is still valued at 0.007 BTC.
We think the long term growth will eventually lead us to other use cases, of which there are dozens when it comes to digital cash.
This is a long term hold or a crypto to use. It’s not a pump and dump.

>>19796341
Big facts! The dev team specifically discourages the kind of holder mentality fairly critiqued here: >>19794952

Most monero enthusiasts (myself included) think that the value will eventually increase drastically, and so have some savings in XMR. But most members of the community try to use XMR whenever they can, to promote that their business associates do the same. It's how I've been paying for my haircuts lately! That attitude (coupled with darknet use, of course) is why Monero tx is steadily growing in the midst of this bear/crab market.

None

>>19797030
Faggot

Perhaps some speculators are hesitant to adopt XMR because the daily transaction chart cannot be translated to a raw $USD value per transaction due to the inherent obfuscation of amounts. Monero’s greatest strength is a deterrent.

>>19794749
>>19794896

This is probably the 0xMonero spam poster.. I haven't seen him in any XMR threads since they Exit scammed on all the bagholders.. He's probably mad he bought a cheap imitation instead of the authentic product..

There's only one Monero frens, Don't buy cheap imitations or you will end up getting dumped on

>>19797548
I'm willing to take that trade! Speculators are less valuable than actual users.

>>19792704
>https://kycnot.me/
This link is missing Phemex anon, they require zero KYC despite being a centralized exchange that accepts debit/credit cards lol

>>19797548
>>19797991
XMR is pretty much guaranteed to flip BTC on the darknet. When the CIA/DEA/FBI start tracking Bitcoin using Coinbase analytics later this year / next year Monero is next in line to inherit that market

>>19797991
Based perspective. Speculation is the only reason BTC is able to moon. “Pricing in” is possible with BTC - not so with XMR. There’s a certain level of forethought and vision required to see that XMR’s rise in value will happen the same way that falling asleep does - slowly and then all at once!

https://azcoinnews.com/the-biggest-crypto-exchange-in-iran-exir-has-added-support-for-monero-xmr.html

EXIR, the largest and most advanced cryptocurrency exchange platform in Iran, has added support for Monero (XMR) direct swaps with fiat Iranian Rial (IRT).

https://azcoinnews.com/the-biggest-crypto-exchange-in-iran-exir-has-added-support-for-monero-xmr.html

>EXIR, the largest and most advanced cryptocurrency exchange platform in Iran, has added support for Monero (XMR) direct swaps with fiat Iranian Rial (IRT).

>>19797548
That's a great point.
>>19798044
when we eventually do take over the dark net, it'll be great being able to point to it and say "see, this international underground economy actually USES Monero. this isn't a fucking pyramid scheme. people are actually buying a cryptocurrency to use it." And from there the real life use cases will only evolve.
that eventual news article from a major newspaper reporting on the new dark net cryptocurrency is gonna be lit.

Best place to buy monero and keep the cryptojews out of my stash?

>>19798740
localmonero

Fomoooooooo

$9k within the next 3 years

>>19792844
>could all use Monero as a solution to their problems.

they could, but let's be honest probably never will because the team don't care about marketing its ease of use nor making it actually easy to use to the masses.

Instead of these use cases it's sitting on a shelf collecting dust while they hope that maybe magically people start using it.

>>19799891
I've been on the ground in Caracas Venezeula and I can tell you Crypto is mainstream there and somewhat normalised the same way as Banking is in the US & Europe.. I've met a lot of people Venezuela who keep their wealth in XMR

>>19799891
The team care less about marketing than about the quality of the product. Those of us who don't code take the responsibly of marketing upon ourselves. Hence: this thread.

None

Wouldn't buying it on an exchange remove your anonymity? Even with a vpn?

So if the plural of minero is moneroj, is it pronounced “moner-oy”?

>>19800415
No, because monero is currency, which is plural already.

After being screwed over so many times in crypto, Monero is so fucking comfy. I’ll never stray again.

>>19799948
that's interesting anon. what were you doing in Caracas.
>>19800380
Once you buy off of an exchange and send to a personal wallet, the Monero can no longer be tracked. All the information that would be known is that you sent monero off of an exchange to an address. But that's it. They don't know where you sent your Monero, and they have no idea what the Monero is used for. It's basically digital cash.
>>19800415
I honestly didn't even know that lol. I think Monero sounds find plural.

>>19800380
This anon is correct >>19800744

If you don't want anybody to know you bought XMR in the first place, that would depend on your exchange, your method of putting money on the exchange, and your general OPSEC.

>>19801057

"I think that the only effective defense against the coming surveillance dystopia is one where you take steps yourself to safeguard your privacy, because there's no incentive for self-restraint by the people that have the capacity to intercept everything. A historical analogy could be how people learned that they should wash their hands. That required the germ theory of disease to be established and then popularized, and for paranoia to be instilled about the spread of disease via invisible stuff on your hands that you can't see, just as you can't see mass interception. Once there was enough understanding, soap manufacturers produced products that people consumed to relieve their fear. It's necessary to instill fear in people so they understand the problem before they will create enough demand to solve the problem." -
Julian Assange

Comfiest of all my holds