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Just ignore this guy, he’s a troll. The Cyphertrace thing he is referring to is 2 years old and EXTREMELY overblown. There is a an unclaimed bounty from the FBI

Just ignore this guy, he’s a troll. The Cyphertrace thing he is referring to is 2 years old and EXTREMELY overblown. There is a an unclaimed bounty from the FBI to trace Monero transactions. Wouldn’t cyphertrace have claimed it if they actually could trace Monero transactions? The Monero community is very open about discussing the tech and its issues. They are near-pure technologists, not get-rich-quick-cryptobros. The 51% “attack” he is referring to is that a mining pool briefly had over 50% of the total hash rate. No attack took place, and within hours miners had moved to other pools bringing the hash rate of the 51% pool down to the mid-30s%. I’ll also mention that the power of 51% attacks is largely overstated too, especially in a privacy coin like Monero.

colesantiago 5y ago
This still means that Monero as well as the other privacy coins still have issues, if there weren’t any issues why are they not being accepted by more exchanges? Even a reportedly private ‘cryptocurrency’ called ‘Grin’ had an attack which rendered the coin useless. The only usecase of privacy coins is for illegitimate purposes only. Also: I think you mean ‘CipherTrace‘, ‘CypherTrace’ does not exist.
- notch656a 5y ago
  >The only use case of privacy coins is for illegitimate purposes only. Excellent trolling. I have used monero for effectively anonymous online donations to legitimate non-profit institutions. Can you think of any other great alternatives for this online? You know it's not illegal to anonymously donate to someone, yes? Most of the non-privacy coins are much more susceptible to finding a KYC exposed starting point to find where the transaction comes from. >f there weren’t any issues why are they not being accepted by more exchanges? Kraken, one of the biggest and longest running KYC and AML compliant exchanges trades Monero in the US. Other exchanges may have simply made a business decision not to trade Monero, but there's clearly precedent that it can be done successfully at least in the US.
  - colesantiago 5y ago
    Are you very sure it was a business decision for Kraken to delist Monero in the UK? Either way the so called privacy coins are not regulated and will soon be delisted from lots of exchanges, there is no use for them if the exchanges are removing Monero and coins like them. > I have used monero for effectively anonymous online donations to legitimate non-profit institutions. Just tick ‘give anonymously’. It’s faster and compliant with laws, rather than using an unregulated and soon to be banned volatile crypto token used by criminals and speculators.
    - notch656a 5y ago
      >Just tick ‘give anonymously’. Isn't there still some way to trace the transaction this way? Usually through your bank, credit card provider, or something of that sort. With Monero there is basically no chance of anyone finding out I made the donation. I'm not interested in anyone knowing, including my bank. I like my privacy. If there's some non crypto way to truly make an anonymous online transaction, I may be interested. Even with a prepaid gift card they can pull up the camera and possibly find me. >Are you very sure it was a business decision for Kraken to delist Monero in the UK? This is simply a legal decision in UK to flush Monero from KYC/AML compliant exchange to more anonymous exchange. All UK did was make it harder to find Monero users, with no impact on ability of someone in UK to trade it.
      - colesantiago 5y ago
        It all begins with a card and an exchange, it’s irrelevant who you send it to. The exchange already knows. The ramps that allow these purchases to happen will be closed once tight regulation comes in and tanks the prices rendering the tokens useless. > I'm not interested in anyone knowing, including my bank. I like my privacy. What is the point when you need to buy the crypto tokens using a card? Even then I am sure Kraken and other exchanges have a log of what coins your purchased and they already know you through KYC anyway. So it seems that privacy coins were a sly facade to get you give up information (card, kyc exchange, etc) And when this happens, how do Monero users cash out? By meeting in a dark alley trading worthless coins?

colesantiago 5y ago

This still means that Monero as well as the other privacy coins still have issues, if there weren’t any issues why are they not being accepted by more exchanges? Even a reportedly private ‘cryptocurrency’ called ‘Grin’ had an attack which rendered the coin useless. The only usecase of privacy coins is for illegitimate purposes only. Also: I think you mean ‘CipherTrace‘, ‘CypherTrace’ does not exist.

notch656a 5y ago
>The only use case of privacy coins is for illegitimate purposes only. Excellent trolling. I have used monero for effectively anonymous online donations to legitimate non-profit institutions. Can you think of any other great alternatives for this online? You know it's not illegal to anonymously donate to someone, yes? Most of the non-privacy coins are much more susceptible to finding a KYC exposed starting point to find where the transaction comes from. >f there weren’t any issues why are they not being accepted by more exchanges? Kraken, one of the biggest and longest running KYC and AML compliant exchanges trades Monero in the US. Other exchanges may have simply made a business decision not to trade Monero, but there's clearly precedent that it can be done successfully at least in the US.
- colesantiago 5y ago
  Are you very sure it was a business decision for Kraken to delist Monero in the UK? Either way the so called privacy coins are not regulated and will soon be delisted from lots of exchanges, there is no use for them if the exchanges are removing Monero and coins like them. > I have used monero for effectively anonymous online donations to legitimate non-profit institutions. Just tick ‘give anonymously’. It’s faster and compliant with laws, rather than using an unregulated and soon to be banned volatile crypto token used by criminals and speculators.
  - notch656a 5y ago
    >Just tick ‘give anonymously’. Isn't there still some way to trace the transaction this way? Usually through your bank, credit card provider, or something of that sort. With Monero there is basically no chance of anyone finding out I made the donation. I'm not interested in anyone knowing, including my bank. I like my privacy. If there's some non crypto way to truly make an anonymous online transaction, I may be interested. Even with a prepaid gift card they can pull up the camera and possibly find me. >Are you very sure it was a business decision for Kraken to delist Monero in the UK? This is simply a legal decision in UK to flush Monero from KYC/AML compliant exchange to more anonymous exchange. All UK did was make it harder to find Monero users, with no impact on ability of someone in UK to trade it.
    - colesantiago 5y ago
      It all begins with a card and an exchange, it’s irrelevant who you send it to. The exchange already knows. The ramps that allow these purchases to happen will be closed once tight regulation comes in and tanks the prices rendering the tokens useless. > I'm not interested in anyone knowing, including my bank. I like my privacy. What is the point when you need to buy the crypto tokens using a card? Even then I am sure Kraken and other exchanges have a log of what coins your purchased and they already know you through KYC anyway. So it seems that privacy coins were a sly facade to get you give up information (card, kyc exchange, etc) And when this happens, how do Monero users cash out? By meeting in a dark alley trading worthless coins?