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Alright /r/buttheads, what's your beef with Monero? (self.Buttcoin)

Phionic が 投稿

Serious question actually, this sub has helped temper my enthusiasm for Bitcoin and probably kept me from getting too euphoric. Let's see substantive criticism of Monero.

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[–]zethien 6ポイント7ポイント  (1子コメント)

mostly: https://youtu.be/RFZrzg62Zj0

[–]Phionic[S] -1ポイント0ポイント  (0子コメント)

Well argued, friend.

[–]Mark_Karpeles_ 4ポイント5ポイント  (1子コメント)

It has no use-case except for payment for illegal goods, and the market depth is too low to support large-scale purchases without having the market swing wildly, so it's not even good at that.

[–]IntroshineBitcion realist 1ポイント2ポイント  (0子コメント)

for payment for illegal goods

Anything digital can be traced. If not now, then in the future. Blockchains are solid state so criminals beware - you'd be batshit insane to use crypto for anything that is a federal crime or even petty crime.

And that's a butter telling you that.

[–]dgerard 1ポイント2ポイント  (1子コメント)

This would require there to be substance to criticise. "another shitcoin" is the complete and detailed critique.

[–]Phionic[S] 0ポイント1ポイント  (0子コメント)

But it addresses criticisms I've been raised here previously. For example it isn't deflationary, it has adaptive parameters (block size, difficulty), smooth emission, opaque but optionally transparent transactions; unless you're against the concept of cryptocurrency entirely you have to admit its an advance over Bitcoin.

[–]JeSuisEuphorique 0ポイント1ポイント  (10子コメント)

It's not a currency. It's not really anything but untraceable numbers on an excel sheet. It made the devs rich and most who bought it poor.

[–]IntroshineBitcion realist 0ポイント1ポイント  (9子コメント)

I'm not a Monero guy, but it's just like Bitcoin. In a legal framework it is considered private money in Germany, and in the US there is a whole legal framework (bitlicense) for it. Heck, you'll end up prosecuted for theft if you steal cryptocurrency

So how is this just "numbers"? I could call gold "just atoms" - but if I robbed a pawnshop I'm still a thief.

[–]JeSuisEuphorique 0ポイント1ポイント  (8子コメント)

It's not tangible. The Japanese authorities just said it's not subject to ownership so who am I to listen to? Monero is just like bitcoin, with maybe a few thousand users, with no way to trace who steals it, and it's not accepted as currency by anybody. As it exists today it's nothing other than numbers on a screen where the only real value is the promise that somewhere it's exchangeable for bitcoins

[–]IntroshineBitcion realist 0ポイント1ポイント  (7子コメント)

It's not tangible.

So if something is not tangible it can't hold value? Movies, Music, CAD drawings, Software, Knowledge... hell even Stocks - you can't hold stocks. etc. And don't say "you can print it!" because you can also print a private key.

Japanese authorities

If you are in Japan, yes, it might be different (soon).

[–]JeSuisEuphorique 0ポイント1ポイント  (6子コメント)

It's intangible in the sense that it can be stolen easily and pretty anonymously so you're not going to have to answer to anyone. It just happens to have very little value either

[–]IntroshineBitcion realist 0ポイント1ポイント  (5子コメント)

Bitcoin or Monero? Because if you have a proper Bitcoin wallet, combined with multisig it's pretty much impossble to steal except by violence.

[–]JeSuisEuphorique 0ポイント1ポイント  (3子コメント)

If you can't steal it then you certainly won't have to answer to someone for stealing it. History has shown that it's notoriously easy to steal anonymously from stupid people who have absolutely no recourse, and people pretend to themselves that this is a superior new asset class that's only value lies in illegal transactions, and being able to unload it on bitcoin brokers who buy things for you with real money

[–]IntroshineBitcion realist 0ポイント1ポイント  (2子コメント)

If you can't steal it then you certainly won't have to answer to someone for stealing it.

I'm not saying you can't - but it's an asset just like Gold coin. You hold, you store it.

History has shown that it's notoriously easy to steal anonymously from stupid people who have absolutely no recourse

Yeah, like robbing savings accounts of old people. Or taxing dead people.

this is a superior new asset class that's only value lies in illegal transactions

It's absolutely terrible for illegal activity, you'd be a total idiot to use Bitcoin for buying drugs and even more so, for selling drugs. Totally insane imho. How to have evidence against you 101.

Anything digital can be traced. If not now, then in the future. Blockchains are solid state.

[–]JeSuisEuphorique 0ポイント1ポイント  (1子コメント)

It is great for illegal activity. It's the only viable use case. Being able to follow a ledger around doesn't tell you anything about the buyer or seller, just that they're transacting. It's trivial to break the chain of custody too using even the most basic tools. That's just from my own experience buying drugs, moving coins through accounts on anonymous exchanges, dice sites, wash trading altcoins, etc.

[–]IntroshineBitcion realist 0ポイント1ポイント  (0子コメント)

Being able to follow a ledger around doesn't tell you anything about the buyer or seller, just that they're transacting.

That's a dangerous claim. If you trade drugs, and the receipten or the merchant is cought, they can add 1+1 together and tie you to the dealer, or other part of the doxxed network. What if the merchant keeps an Excel file with all the addresses and transaction id's that you own on Coinbase (this information can be seized).

For a criminal: No, worse than cash. Cash has serial numbers but not an immutable history of transaction that can bite you in the ass several years down the line.

[–]AussieCryptoCurrency 1ポイント2ポイント  (0子コメント)

I don't know enough about it, I don't have a problem with it though