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Monero: The new Bitcoin


djdiggla

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Anyone into this? I'd not heard of Ethereum or Monero.

 

 

 

FOR THE CRYPTOCURRENCY community, 2016 was a very good year. Bitcoin doubled in price. The far-out Bitcoin alternative Ethereum shot up by a factor of 10. But another, once-obscure cryptocurrency called Monero outpaced all of them, multiplying its value around 27-fold. That’s a windfall not just for cryptocurrency speculators, but for financial privacy advocates everywhere—including a few suddenly wealthy dark web drug dealers.

Over the last year, the value of the hyper-anonymous cryptocurrency Monero grew 2,760 percent, making it almost certainly the best-performing cryptocurrency of 2016. Today each Monero is worth around $12, compared with just 50 cents at the beginning of last year, and the collective value of all Monero has grown to close to $165 million. The source of that explosive growth seems to be Monero’s unique privacy properties that go well beyond the decentralization that makes Bitcoin so resistant to control by governments and banks. It’s instead designed to be far more private: fully anonymous, and virtually untraceable.

 

https://www.wired.com/2017/01/monero-drug-dealers-cryptocurrency-choice-fire/?mbid=nl_12517_p1&CNDID=35694016

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The reason Monero jumped in value is because it's the only cryptocurrency that darknet markets (i.e. drugs vendors) support.

 

Just like how VHS beat Betamax because of pr0n.

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