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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4654530 times)
Hueristic
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September 23, 2019, 12:11:06 AM
 #41061

Upbit delisted Monero(XMR), Dash(DASH), ZCASH(ZEC), Haven(XHV), BitTube(TUBE), PIVX(PIVX) as well end of september which means companies and institution under regulation can't service anonymous cryptocurrencies. If the trends will keep then during the next bubble will be hard to increase price significantly. Maybe some institution don't want to have anonymous coins due to lack of control the customers.

Pasting my reddit comment:



The FATF guidance does not even prevent privacy coins from being listed on an exchange, as long as the exchange enforces KYC/AML for the users. I ascribe the recent events to an overzealous and erroneous interpretation of the guidance by the compliance department of the exchange in question. It further should be noted that, for instance, Binance and Kraken still cater to Korean users. Additionally, see a relevant comment of mine below:



My response to the following article: OKEx Korea delisting all privacy coins, including Monero, Zcash and Dash, as these ‘violate’ FATF’s 'travel rule' - The Block



Quote
as these ‘violate’ FATF’s 'travel rule'

I don't think this is the case actually. As long as they enforce KYC/AML for each account, they should be able to tie deposits and withdrawals to a certain person. In addition, they can send this information to another service (which is essentially what the travel rule is about) in case a direct withdrawal (i.e. a withdrawal to another service) is made.

People should also bear in mind that FATF merely makes recommendations:

Quote
Importantly, FATF doesn't have *any* regulatory authority of its own. FATF makes recommendations, not laws.

Member countries can adopt all, some, or none of FATF's recommendations. There are basically no repercussions for not adopting (or for violating) FATF recommendations.

The U.S. based exchanges will most likely follow FinCEN's guidance

Quote
As you might expect, the United States doesn't really like having its regulatory policy dictated to it by other countries.

FinCEN (the US regulator in charge of AML/CFT regulation) certainly does consider FATF's recommendations, but rarely adopts them wholesale.

Which was positive for privacy coins:

Quote
People often like to purport that Monero will inevitably get banned. However, the new FinCEN guidance is basically inconsistent with that notion. From the CoinCenter article:

Section 4.5.3 states that exchanges are not per se banned from using privacy-preserving cryptocurrencies but will need to comply with the same BSA regulations they comply with for typical cryptocurrencies. We believe that this is possible. Exchanges need to know their customers but they do not have a black letter law requirement to know the customers of their customers. In other words, a bank needs to know who you are but they are not obligated to know the name and address of people that you pay using cash you withdraw from your account.

https://coincenter.org/entry/fincen-s-new-cryptocurrency-guidance-matches-coin-center-recommendations

The full twitter thread on FATF's guidance can be read here:

https://twitter.com/jchervinsky/status/1142578858589347840

EDIT: To add a few more things:

[1] Monero is private by default and optionally transparent. There are plenty of tools available in Monero that allow one to be compliant with an auditor.

https://monero.stackexchange.com/questions/tagged/auditing

[2] Tari Labs is working on an open source framework for listing Monero.

https://twitter.com/fluffypony/status/1172832896727638017

[3] CoinCenter confirmed in the MoneroKon regulatory panel that almost all exchanges are already mostly compliant with the FATF guidance (because they enforce KYC/AML for each user).

[4] Monero is listed on a lot of U.S. based regulated exchages, services, and OTC desks. I made an overview here:

https://np.reddit.com/r/xmrtrader/comments/c1zkfu/daily_discussion_tuesday_june_18th/ergqhzs/

[5] This only concerns *Korean* users of OKEx.



This subject was also extensively discussed in yesterday's Monero Coffee Chat. I highly recommend watching it:

https://www.youtube.com/watch?v=1y0YeTLbYEc


Thanks for all these links dEBRUYNE.

“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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September 23, 2019, 05:08:27 AM
 #41062

Check out this XMR wallet guide https://www.switchain.com/blog/best-monero-wallets-top-8-monero-wallets-2019/
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September 23, 2019, 09:08:37 AM
 #41063

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!
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September 23, 2019, 02:36:50 PM
 #41064

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!

Lol 53 qubit personal computer
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September 23, 2019, 04:14:56 PM
 #41065

Why monero together with other anonymous coins try to remove from exchanges?

AllCrypt.Tech - News Cryptocurrency | ✅ BattleHashes.Com - Multiplayer gambling on blockchain | Discussion Thread BH: https://bitcointalk.org/index.php?topic=5188527.0
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September 23, 2019, 04:45:23 PM
 #41066


Why doesn't switchain list Monero?
Other than that nice article.

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!

What happen, did your other troll account get banned?

/ignored

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September 23, 2019, 07:23:30 PM
 #41067

Preliminary information thread regarding the scheduled protocol upgrade of November 30

https://www.reddit.com/r/Monero/comments/d884zt/preliminary_information_thread_regarding_the/

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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September 23, 2019, 07:39:40 PM
 #41068

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

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September 23, 2019, 07:54:45 PM
 #41069


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe, 1995
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September 23, 2019, 07:56:01 PM
 #41070

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

It's not too bad compared to other alts, but it does look a bit dead in the water.

"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe, 1995
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September 24, 2019, 11:18:21 AM
 #41071

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.


I used to think like you, even had time to enjoy some monero results in the trading of glorious years
but still hope the events of two years ago can still be repeated.

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dEBRUYNE
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September 24, 2019, 11:25:07 AM
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 #41072


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?


Alive and well I would say. Development of both the code and the ecosystem is progressing strongly. A nice overview can be found here:

https://revuo-monero.com/periodicals/periodical-3-2019.html

The weekly issues can be found on the website too:

https://revuo-monero.com/

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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September 24, 2019, 11:26:37 AM
 #41073

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

From the top 20, Monero is one of the best performers year to date. That being said, it obviously got affected by the significant decline in the altcoin market.

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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September 24, 2019, 03:03:22 PM
 #41074


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?


Alive and well I would say. Development of both the code and the ecosystem is progressing strongly. A nice overview can be found here:

https://revuo-monero.com/periodicals/periodical-3-2019.html

The weekly issues can be found on the website too:

https://revuo-monero.com/

thx, dEBRUYNE

"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe, 1995
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September 24, 2019, 03:04:18 PM
 #41075


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?


it was a shitcoin  Grin  reeeee

Monero is and remained in Top20 for many years, anyone calling alt like this a shitcoin isn't clever at all. So many private coins only dream about getting where Monero is.




I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

I know, the price dropped against BTC a lot, so did the rest of the market. If you're holding XMR just to get rich quick, you simply have to wait a bit longer for the alt season. If you value your privacy, especially for your shopping, Monero is the right coin for you.
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September 24, 2019, 04:57:35 PM
 #41076


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?


it was a shitcoin  Grin  reeeee

Monero is and remained in Top20 for many years, anyone calling alt like this a shitcoin isn't clever at all. So many private coins only dream about getting where Monero is.


it's a CLONE of bytecoin...umm yes it's a living breathing shit-coin pumped by GOLDMAN SACHS bruh.  Cool  you new here?

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September 24, 2019, 08:25:27 PM
 #41077

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

From the top 20, Monero is one of the best performers year to date. That being said, it obviously got affected by the significant decline in the altcoin market.
But still, there are no interesting partnerships or updates, no new wallets, it’s still the same Monero as two years ago.

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September 24, 2019, 09:14:08 PM
 #41078

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

From the top 20, Monero is one of the best performers year to date. That being said, it obviously got affected by the significant decline in the altcoin market.
But still, there are no interesting partnerships or updates, no new wallets, it’s still the same Monero as two years ago.

This is nonsense, see:

Quote
In the last two years we have seen the following fundamental developments:

- An official GUI that is significantly improved and now properly curtailed to a vastly heterogeneous userbase.
- Multiple user friendly mobile wallets for Android and iOS.
- Multiple user friendly desktop wallets.
- Hardware wallet support (both Trezor and Ledger).
- Significant reduction of transaction size and improvement of verification performance via Bulletproofs. Bulletproofs furthermore ensured the fees can remain reasonably.
- Further reduction planned via CLSAG (approximately 20% reduction in transaction size and 20% improvement in verification performance).
- A long-term ASIC resistant (at least envisioned) proof-of-work algorithm RandomX, which was successfully audited by four different professional audit teams. Whether you are supportive of ASIC resistance or not, one cannot deny that this is a vast improvement over the status quo (which was essentially tweaking the PoW every six months).
- Multiple further privacy improvements.
- I2P/Tor integration for the CLI and GUI (soon, i.e., planned for v0.15).
- Blockchain pruning.

I am probably forgetting some stuff and haven't even included ecosystem related developments. Regardless, we can conclude that the difference between Monero in 2017 and Monero currently is essentially night and day.

A full list of available wallets can be found here:

https://www.reddit.com/r/Monero/comments/d78ny7/rmonero_weekly_discussion_september_21_2019_use/

If you make a comparison to 2017, you will see that there is a significant difference.

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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September 25, 2019, 04:38:55 AM
 #41079

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

From the top 20, Monero is one of the best performers year to date. That being said, it obviously got affected by the significant decline in the altcoin market.
But still, there are no interesting partnerships or updates, no new wallets, it’s still the same Monero as two years ago.

Maybe monero is currently being hit by a deadlock of ideas, but in my opinion it's fine if the monero is currently very good in the market.
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September 25, 2019, 07:56:32 AM
Merited by Hueristic (1)
 #41080


Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?


it was a shitcoin  Grin  reeeee

Monero is and remained in Top20 for many years, anyone calling alt like this a shitcoin isn't clever at all. So many private coins only dream about getting where Monero is.


it's a CLONE of bytecoin...umm yes it's a living breathing shit-coin pumped by GOLDMAN SACHS bruh.  Cool  you new here?

Great point! Monero is currently sitting at 0.00711342 BTC, Bytecoin aboooouuuutttt  0.00000005 BTC. Anyone who wants to take a risk in crypto has to see some kind of potential in it. People are greedy AF, if they can't see their money coming back with profit, they'll go elsewhere.

Because I'm new here and you're the master of all things Crypto, can you tell me why all the greedy people invested in Monero instead of Bytecoin? Thank you very much.
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