/biz/ - Business & Finance

>>56337381
Yes, there a was a backdoor installed day 1 (still not patched) so that the government can see EVERY transaction on the bitcoin blockchain. Amounts, sender and receiver. The government gets every detail. It's actually a pretty well known vulnerability.

>>56173813
>Did I miss anything?

- hated by governments.

>>55959333
>They don't outlaw something if it can be used, owned, or co-opted.

Monero is already soft-banned in Australia, Japan and South Korea. Privacy coins in general are particularly disliked by governments due to their crime-enabling properties so a more widespread ban in future isn't at all an unreasonable expectation.

>Relying on a cyperpunk fantasy scenario, or charity, or another hard fork isn't going to overcome the profit motive, nothing overcomes it.

lol Monero mining hasn't been profitable for years yet the hashrate hasn't death spiraled. Turns out having an ideologically-driven userbase has its perks: miners willing to donate CPU cycles for a cause they believe in no matter the price or market sentiment.

>making the profit motive for mining & asic companies even stronger.

there are no ASICs for RandomX. And as mentioned, the hardware that Bitmain just released confers NO meaningful advantage over existing commodity CPU hardware, the devs literally don't care enough to tweak anything yet.

>And electricity is only getting more expensive for normal people, while mining companies keep receiving more subsidies.

Cool, they can continue trying to outhash botnets and a growing ideologically-driven userbase with unimpressive hardware that could be crippled/bricked at any moment.

>>55712160
>Don't worry. XMR is not at risk of being delisted on coinbase, because it will never be listed on coinbase.

Unfathomably based.

>>55445842
>without even trying to make a better system for the vast majority of people who will always use white markets.

Trying? Are you dense? The State calls ALL the shots in the white market, crypto-anarchists have no leverage there.

And there's NO WAY the State will tolerate Monero given how effective it is at circumventing capital controls.

Any truly censorship-resistant, truly decentralized crypto will inevitably be seen and treated like a threat.

Ergo, parallel economy.

>>55372074
>Like Monero?

Monero is establishing itself as the exclusive currency of a consistently growing online shadow economy and just like that economy it doesn't need the State's approval to survive and thrive. Monero could literally be declared an enemy of the State and nobody would care lol

>The US gov itself has indicated that USD losing its world reserve currency status is both inevitable and desirable, while at the same time showing more support for Bitcoin. You've been bouncing between Bitcoin will be co opted, and Bitcoin will be banned, at least pick one and stick with it.

lol what "support"? The State currently tolerates crypto because it doesn't yet have a dog in the fight but that could well change once Fedcoins are rolled out. As history shows, the State only ever seeks more control over the financial system, not less.

And you don't need to explicitly ban Bitcoin/crypto, you just need to make using it exceedingly difficult, it amounts to the same thing.

Bottom line: the future of digital payments is CBDCs for the mainstream economy, crypto for the shadow economy.

>>54514016
>>xmr is legitimized by regulatory clarity,

WTF are you smoking?

>>54358562
>Also at what point would xmr usage become unstoppable I feel if we don't have a strong network effect then the possibilty of getting crushed by cbdcs will be inevitable.

lol how exactly are you supposed to use CBDCs within the shadow economy?

>>52832573
I own a [redacted] amount of the cyptocurrency known as Monero.

>>52450646

If your crypto isn't seen as a threat it isn't truly permissionless.

>>52375991
Ngl, that's pretty damn based, but everyone knows the only coin that you can actually buy fissile material with, is Monero.

>>52363056
I always was.
t. /smg/ for monies, /xmr/ for drugs. Just like God intended.

>>52344313

Hail to the One True King.

>>51595165

Define "better". Monero is the most *reliable* privacy solution because it is the oldest and most battle-tested, is self-contained on Layer 1, has the largest number of users, doesn't rely on experimental moon math and also shields sender IP addresses.

>>50905467
>>Monero outlawed.

Nigga, we've all been expecting Monero to eventually get banned since day fucking one. Ergo all the obsessive decentralization efforts.

>>50808609

Fuck those, we're talking about atomic swaps and DEXs.