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Make Bitcoin Great Again (with Monero's Full Privacy)

12 points by spaceboy 10y ago

wackro 10y ago
I'm all for monero, and have been keeping my eye on its development. An important aspect of a private cryptocurrency is fungibility, which is something that only a truly private currency can provide. Bitcoin's public ledger means that coins found to be used for illegal purposes can be seized. This creates a greater demand for newly mined coins, and a lesser demand for older coins. Monero's transactions are hidden by their nature, so each monero is of equal value.
flaviuspopan 10y ago
TL;DR - Sell BTC on Shapeshift for XMR, Sell XMR on XMR.TO for BTC. You're basically tumbling the coins through third parties. In reality this has little to do with BTC/XMR but more of a generalized strategy to obfuscate via alt-shifting. You could do the same via Changer, Coinigy, or any other similar service.
kordless 10y ago
Bitcoin has never been "great". The market cap is miniscule compared to some unicorn startups and a killer use case hasn't been developed to grow the tech virally. Continuing to talk about dark nets with the tech is only going to tarnish the image people have, which is unfortunate given how awesome the trust is that it embodies.
tinfoilman 10y ago
If you care about Privacy in your crypto Monero really is the current fore runner. BTC is only pseudonymous and given KYC of the exchanges everything in bitcoin land can be traced. https://twitter.com/DelRayMan/status/824697015523246080 https://twitter.com/DelRayMan/status/824697015523246080 FBI love the open ledger. Anyway given this is a tech site, here are some Monero based privacy techs you might be interested in - RingSignatures https://en.wikipedia.org/wiki/Ring_signature https://en.wikipedia.org/wiki/Ring_signature - Stealth Addresses https://getmonero.org/knowledge-base/moneropedia/stealthaddress https://getmonero.org/knowledge-base/moneropedia/stealthaddr... - RingCT - https://getmonero.org/knowledge-base/moneropedia/ringCT https://getmonero.org/knowledge-base/moneropedia/ringCT And some more information from their lab which is always interesting https://lab.getmonero.org/ https://lab.getmonero.org/

12 points by spaceboy 10y ago

I'm all for monero, and have been keeping my eye on its development. An important aspect of a private cryptocurrency is fungibility, which is something that only a truly private currency can provide. Bitcoin's public ledger means that coins found to be used for illegal purposes can be seized. This creates a greater demand for newly mined coins, and a lesser demand for older coins. Monero's transactions are hidden by their nature, so each monero is of equal value.

flaviuspopan 10y ago

TL;DR - Sell BTC on Shapeshift for XMR, Sell XMR on XMR.TO for BTC. You're basically tumbling the coins through third parties. In reality this has little to do with BTC/XMR but more of a generalized strategy to obfuscate via alt-shifting. You could do the same via Changer, Coinigy, or any other similar service.

kordless 10y ago

Bitcoin has never been "great". The market cap is miniscule compared to some unicorn startups and a killer use case hasn't been developed to grow the tech virally. Continuing to talk about dark nets with the tech is only going to tarnish the image people have, which is unfortunate given how awesome the trust is that it embodies.

tinfoilman 10y ago

If you care about Privacy in your crypto Monero really is the current fore runner. BTC is only pseudonymous and given KYC of the exchanges everything in bitcoin land can be traced. https://twitter.com/DelRayMan/status/824697015523246080 https://twitter.com/DelRayMan/status/824697015523246080 FBI love the open ledger. Anyway given this is a tech site, here are some Monero based privacy techs you might be interested in - RingSignatures https://en.wikipedia.org/wiki/Ring_signature https://en.wikipedia.org/wiki/Ring_signature - Stealth Addresses https://getmonero.org/knowledge-base/moneropedia/stealthaddress https://getmonero.org/knowledge-base/moneropedia/stealthaddr... - RingCT - https://getmonero.org/knowledge-base/moneropedia/ringCT https://getmonero.org/knowledge-base/moneropedia/ringCT And some more information from their lab which is always interesting https://lab.getmonero.org/ https://lab.getmonero.org/