By combining peer-reviewed cryptography to provide transactions that are private and untraceable Monero serves as truly anonymous and fungible electronic cash. In other words, Monero makes it impossible for an outside observer to determine how much money was sent from point A to point B, nor how much money remains in either location.
Furthermore, Monero is scalable in that its block sizes adapt to the network's current needs rather than remaining fixed at a specific size (as we have seen with Bitcoin) and limiting the growth and speed of the network. Monero also addresses scalability by implementing a "tail emission." This means that once Monero's initial 18.4 million coins have been mined, there will be a permanent block reward of 0.3 Monero per minute. This will encourage miners to continue mining and therefore contributing to the strength of the network.
Lastly, like other cryptocurrencies, Monero allows its users to "be their own bank" by holding their own private keys and thereby being the sole owners of their funds rather than depending on centralized entities such as banks. However, Monero takes decentralization a step further by allowing for CPU mining, which greatly reduces the risk of so-called "mining farms" where only a few parties have control over a large percentage of the network's mining hashrate.
My Monero Story: The first time I heard a ransom ware attack was a little after I discovered bitcoin and the hackers asked for bitcoin as payment. Even though it was a bad thing I was happy to see bitcoin mainstream. While bitcoin tok the fame, only a few years later i heard a news report mentioning the dark web and I went and youtubed it and BOOM!! thats when I saw it on the screen of a drug addict wanting to buy "candy" on the darknet net it was right there right beside the little "B" icon. They accepted Monero... I did my research and that's when I realized the value.
My Thoughts: All this time the market has gone red , If you look at Monero it barely feels the effects. It's like Excalibur waiting to be pulled from the rock. It's destined for greatness. Hackers value is their tools. investors are always 10x steps behind the hacker curve. Not this guy though.
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Monero does not get much attention. Once government rules (and taxes) start to bother cryptocurrency users, I expect increased attention for these dark coins.
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Once the government begins to Tax Cryptos properly, I'm concerned about the longterm viability of Monero as its black box functionality makes it immutability questionable. I think the government should leave Crypto alone and only tax when money is exchanged for fiat, products, or real property. That would allow for wealth building which will likely contribute to our consumption based economy. Just my 2 Satoshis. :)
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That's true but the only mechanism that the government have and may or may not realized is the Ethereum and the Ethereum based technologies such as the upcoming EOS. Theses are designed with the potential to do something the government wish they could do to perfection. The dark coins are our only real defenses for storing and hiding away our crypto wealth.
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