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Here's an article summarizing what I was saying about monero and more.
https://freedomnode.com/blog/85/top...the-most-widely-used-anonymous-cryptocurrency
Another good article on pros/cons vs btc:
https://www.buybitcoinworldwide.com/monero/
One interesting point they make with BTC is that as soon as you tell someone your wallet address they can know how much money you have. Things like that will make BTC less ideal as a money storage system as time goes on.
I think most of the other cryptos are solely going to be of value for speculation and hobby collection but not real life use.
Can anyone find or imagine a more useful crypto than Monero?
Only problems with Monero are possibly the slowness and scalability problems he discussed in the first article. But that article was 5 months ago. Maybe they've already been solved or are the in process of being solved. I don't understand this fully.
The other problem with a cryptocurrency that exists solely to launder other cryptos is that it becomes easy to replace with a new laundering currency at any time if you only need it for temporarily holding your cash.
Though I think this has utility not just to launder Bitcoins to other Bitcoins but to be a safer storage method for illicit or off the books cash even long term as Bitcoin is becoming more traceable and regulated every day. They mention a drug dealing dark net site admin who got busted and authorities couldn't even identify how much money he had in monero due to this.
If they fix the speed and scaleability this is probably a good investment. I will put a sizeable chunk of cash into it unless I can find a more appealing prospect once I have my foot in the door on btc.
Anything else seem to have this level of unique niche usability? Even if it's a different niche?
Also can anyone who understands the tech better comment on the block chain size and speed issues they raise?
https://freedomnode.com/blog/85/top...the-most-widely-used-anonymous-cryptocurrency
Another good article on pros/cons vs btc:
https://www.buybitcoinworldwide.com/monero/
One interesting point they make with BTC is that as soon as you tell someone your wallet address they can know how much money you have. Things like that will make BTC less ideal as a money storage system as time goes on.
I think most of the other cryptos are solely going to be of value for speculation and hobby collection but not real life use.
Can anyone find or imagine a more useful crypto than Monero?
Only problems with Monero are possibly the slowness and scalability problems he discussed in the first article. But that article was 5 months ago. Maybe they've already been solved or are the in process of being solved. I don't understand this fully.
The other problem with a cryptocurrency that exists solely to launder other cryptos is that it becomes easy to replace with a new laundering currency at any time if you only need it for temporarily holding your cash.
Though I think this has utility not just to launder Bitcoins to other Bitcoins but to be a safer storage method for illicit or off the books cash even long term as Bitcoin is becoming more traceable and regulated every day. They mention a drug dealing dark net site admin who got busted and authorities couldn't even identify how much money he had in monero due to this.
If they fix the speed and scaleability this is probably a good investment. I will put a sizeable chunk of cash into it unless I can find a more appealing prospect once I have my foot in the door on btc.
Anything else seem to have this level of unique niche usability? Even if it's a different niche?
Also can anyone who understands the tech better comment on the block chain size and speed issues they raise?
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