This daily general is for supporters of the cypherpunk ideology to hang out and help noobies learn about Monero, the most fungible cryptocurrency. A cypherpunk is any activist advocating widespread use of strong cryptography and privacy-enhancing technologies as a route to social and political change.
We believe that Monero is the logical continuation of Bitcoin because it offers superior privacy, leading the way to many potential use cases. Discussion points include rising Dark Net adoption, news articles about Monero, daily transaction totals, and new technology updates to the Monero project.
Moonboy posting is discouraged, however price speculation and TA is fine.
I don't understand how XMR has this low of a price action while its online precensse is so big. XMR has one of the biggest communites I think third after BTC and ETH. (not counting xrp cause its super horse shit )
So why is the price lagging? and when will it start to pick up?
Andrew Brown
Anyone noticing xmr edging up against btc these last few days and pumping right after it dumps Hoping this is the beginning...
Kayden Myers
Can you add LOKI to the pasta?
Lucas Russell
Daily reminder that XMR is the currency of the future
Our daily transactions are still far below Bitcoin and all of Bitcoin's main alts (Litecoin, Bcash). But I agree that we have one of he biggest communities. >So why is the price lagging? and when will it start to pick up? It's hard to say, but it probably comes back to the mentality of the Monero community of not talking about price and instead using Monero. Additionally, because the value of Monero transactions is obfuscated, it's difficult to measure how much Monero is being moved around on a daily basis. Thirdly, we have an oversupply of Monero due to our steeply declining block reward. So all of this is now being supported by long term growth. Which is very good for the community because we are onboarding new users every day on the dark net. I believe we will eventually hit a breaking point where the supply is below the demand and then we will see a significant rise in the BTC ratio. based comfy user no, because it's a shitcoin.
Sebastian Foster
I actually checked bitinfocharts a few days ago and the xmr transactions amount were the same as the BCH transaction amount. Which is nice.
I do believe that the XMR community is one that is of the "holder types" so when eventually XMR becomes scarce this will make prices shoot up. I know xmr is a game of patience though. I'll just hold my stack and see what happens. if I wanna go gamble on shitcoin pupms or whatever, all these DEFI assets. I make nice profits but I don't understand why people want to hold them.
LEND / KAVA . I truly see no point in the hype for holding these assets. they are tokens on ETH. erc20s. not even technically a cryptocurrency and not even going to be accepted for payments anywhere.
I do think that the smart people in this market milk the mass on these hype pumps and then put it in actually decentralized and fairly distrbuted assets like xmr / dgb / (maybe bitcoin)
Jeremiah Thomas
Name one hold that is anywhere near as comfy as XMR >you can't
>I do think that the smart people in this market milk the mass on these hype pumps and then put it in actually decentralized and fairly distrbuted assets How did you know my strategy :o
;)
Jose Nguyen
Great points. Yeah you're right about Bitcoin Cash. We had more transactions than then for a 24 hour period in May for the first time ever, but I just checked and over the past couple weeks we have had more transactions than them in a 24 hour period several times. Great to see. > I truly see no point in the hype for holding these assets. they are tokens on ETH. erc20s. not even technically a cryptocurrency and not even going to be accepted for payments anywhere. Exactly. This is a criticism that should be applied to any of these projects. Why is there even a token involved? speaking of this strategy, I think one usecase Monero will have is waashing any sort of profit made with shitcions, thereby preventing the feds from being able to trace your transactions and ask why you aren't paying your taxes (at least in America, you are technically supposed to pay taxes for every crypto to crypto exchange). There is also the "swiss bank" theory, where Monero will act as a haven where you can keep your profits and know that nobody can see how much value you have because of the obfuscated ledger.
There are many good usecases for XMR. Who the fuck wants people to know how much money is in their wallet when you give them some coins. Swiss bank of the future is probably going to happen. There are a few banks that are secretly on board with cryptocurrency. these banks will be the ones that survive the great purge when fiat currencies tank.
Anyway everytime I check the xmr reddit I read so much good stuff. it's easy to hold.
I'll continue with my strategy trading erc20 shitcoins and profiting on hype cycles and putting the profit in decent profits. I think this is what whales do to.
Jose Davis
>putting the profit in decent profits. putting the profits in decent assets* (like xmr)
I heard that dude who invented randomx is a genius and commited to xm
Jacob Nguyen
But the IRS still knows that you transferred money to your Monero wallet. If they ask for your view key what would you say? That you lost your private keys? That you got hacked? That you had sent the funds to the wrong address? That it was a donation/gift?
Leo Scott
>But the IRS still knows that you transferred money to your Monero wallet.
You can easily transfer Bitcoin to a gambling website wash it out into onto another exchange without KYC that supports XMR that way
Wouldn't that still be traceable? Assuming that the gambling service logs transactions. Wouldn't a BTC mixer/tumbler work better?
Oliver White
You can also buy BCH anonymously for cash on local.bitcoin.com ; then online you can trade for xmr easi
Matthew Roberts
Yeah Monero wanted to use the fastest database in the world (by far) and they asked the guy who invented it to have a look at how they were implementing it. The guy was impressed and now he's fully on board with the project. He didn't make randomx, someone else completed that in the end but he spearheaded the concept and helped out a lot.
Also, while working at JPL Labs (the smart part of NASA I think), he saved a Space Shuttle mission from a mid-flight hardware failure by coding a software solution that performed even better than the hardware was supposed to. They gave him a certificate.
>your Monero Wallet they don't know that. All they know is that you sent the xmr to an address. Also, the IRS is only going to get involved once you start making massive payments on things, or if you're sending over 10k to on ramps annually, or if you are cashing out a lot of Monero. If you don't do those things, you can hold and buy stuff online and wait as adoption improves and regulation improves (e.g. inevitable crypto tax reform). I think they will eventually tax it at a flat rate similar to gold. Makes the most sense. not at all. BTC mixers and tumblers are ineffective against chain analysis. Bitcoin being a surveillance coin really drives the maxis crazy.
Dylan Murphy
>Yeah Monero wanted to use the fastest database in the world (by far) that's amazing, desu
Jayden Cruz
Lost the key in a boating accident
Nicholas Perez
The IRS Wants to Know More About Privacy-Enhancing Crypto Coins, Tools archive.is/eyssO
The IRS is having trouble tracking shitcoins like Dash and Verge. They have absolutely no idea where to begin with Monero if that is the case. The feds are probably shitting their pants realizing that these vendors they are monitoring are switching to Monero. The dark net is going to be fully traded in Monero within 18 months. There is no logical way for people to adopt privacy and then go back to non-privacy. The pearl clutching articles from the mainstream media bemoaning the evil Monero coin will be a huge bullish flag.
Elijah Bailey
Glad there's at least one cc out there that's got a chance of ridding itself of kikes and glowniggers entirely.
Lucas Thompson
bump
Nicholas Cooper
It's the elephant in the room as regulators draw up rules on cryptocurrencies, since there's these coins like monero which are designed not to be traced.
