/biz/ - Business & Finance

>>56858209
>I lost all my friends during the pandemic and no longer have any connects for drugs
For research purposes only: download tor, go to tor dot taxi, then select a darknet market onion site, navigate to the site and create an account for research, and use Monero if you want to purchase any research materials.

>>56275974
Monero is the cypherpunk coin. It just has no marketing at all.

>>56026713
It's the oldest turd though, so that's something. I still think Monero is more of Satoshi's original vision

>>28995555
Quints have spoken

>>28704481
>But I don't see how you will be able to withdraw this to fiat in the long term if the only purpose of it is for illegal uses.
Imagine still thinking that this is going to be used for illegal uses only.

1. You are travelling through parts of a country with a medium to high violent crime rate. You need to use some of your Bitcoin to pay for something. If every person you transact with knows exactly how much money you have, this is a threat to your personal physical safety.

2. You are a business that receives a payment from a supplier. That supplier will be able to see how much money your business has, and therefore can guess at how price sensitive you are in future negotiations. They can see every single other payment you’ve ever received to that Bitcoin address, and therefore determine what other suppliers you are dealing with and how much you are paying those suppliers. They may be able to roughly determine how many customers you have and how much you charge your customers. This is commercially sensitive information that damages your negotiating position enough to cause you relative financial loss.

3. You are a private citizen paying for online goods and services. You are aware that it is common practice for companies to attempt to use ‘price discrimination’ algorithms to attempt to determine the highest prices they can offer future services to you at, and you would prefer they do not have the information advantage of knowing how much you spend and where you spend it.

4. You sell cupcakes and receive Bitcoin as payment. It turns out that someone who owned that Bitcoin before you was involved in criminal activity. Now you are worried that you have become a suspect in a criminal case, because the movement of funds to you is a matter of public record. You are also worried that certain Bitcoins that you thought you owned will be considered ‘tainted’ and that others will refuse to accept them as payment.

>>26303843
>>26304361

>>19937002
For easiest use (and if you're spending it regularly), I would recommend Cake Wallet or Monerujo. Both are trusted by the XMR community. They're phone friendly apps, optimized for quick and easy transactions, and are the best "Hot Wallets."

For a "Cold Wallet" (one where you save monero for a long time) the official Monero GUI is best. You can download it from getmonero.org . For increased security, you can pair it with a hardware wallet.

As far as holding vs spending- In the XMR community it's considered a bit gauche to speculate too much about the price mooning. Most enthusiasts (myself included) think that the coin is extremely undervalued at present and will likely rise with the crypto market in general, as well as with increased adoption in the global black and grey markets. I have some XMR that I spend and encourage others (like my barber and mechanic) to accept as payment. I have other XMR in cold storage that I view as a medium-risk savings account. Monero and all crypto COULD go to 0, but I think it's much more likely that it will gain value in the coming years.

I would strongly recommend that you never keep any crypto on an exchange. The beauty of crypto is that it allows you to be your own bank. When an exchange has your funds, you don't really own them. They're playing the bank, and if they get robbed, or decide to exit scam, or their regulations change in a way that affect your ability to withdraw funds, the coins you bought are no longer yours. Binance is more legitimate than most, but it's still not immune to hacks or government fuckery.

"Creating an electronic currency is a big deal precisely because control over the medium of exchange is one of the three ingredients of a state." "If you take away the state's monopoly over the means of economic interaction, then you take away one of the three principal ingredients of a state. In the model of the state as a mafia, where the state is a protection racket, the state shakes people down for money in every possible way. Controlling currency flows is important for revenue-raising by the state, but it is also important for simply controlling what people do- incentivizing one thing, disincentivizing another thing, completely banning a certain activity, or an organization, or interactions between organizations." "Government regulation has made particular financial players kings and doesn't allow other market entrants. Economic freedom has been impinged by an elite group that is able to influence both regulation and the principles involved in these banks."

https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
>"According to public records, the Drug Enforcement Administration and the Internal Revenue Service are planning to buy licenses from Coinbase for a cloud-based software called Coinbase Analytics. According to the prospective DEA contract, Coinbase's software will provide "identity attribution" for crypto addresses both domestically and internationally."
https://blog.chainalysis.com/reports/introducing-chainalysis-investigation-compliance-support-dash-zcash
>"Dash and Zcash allow users to conduct transactions with greater privacy, but that doesn’t mean they provide total anonymity. The two cryptocurrencies’ privacy features — both in how they’re built as well as how they’re used in the real world — leave room for investigators and compliance professionals to investigate suspicious or illicit activity and maintain compliance. With Chainalysis product’s support, cryptocurrency businesses are now able to incorporate Dash and Zcash into their compliance programmes."

>>14634844
Monero is more Bitcoin than Bitcoin

>>13357741
The only coins that matters along with BTC

>>4715937
Buy Monero.

All hail King Monero

https://themerkle.com/blocksci-succesfully-traces-transactions-performed-with-dash-zcash-and-other-currencies/