Monero (XMR) thread

This might be bad news for anonymous coins like Monero. Could potentially trigger other nations to follow suit:

https://www.ccn.com/japan-is-pressu...ges-to-de-list-anonymous-altcoins-report/amp/

Japan’s Financial Services Agency (FSA) is pressuring local cryptocurrency exchanges to de-list privacy-centric altcoins such as Monero, Zcash, and Dash.

Writing in Forbes, Tokyo-based journalist Jake Adelstein reports that sources close to the FSA say the regulatory agency — which has sole authority to grant licenses to cryptocurrency exchanges — is “taking all available steps” to pressure domestic trading platforms to drop support for altcoins that tout the ability for users to make anonymous transactions.

The FSA claims that these cryptocurrencies, which are generally much more difficult to track than Bitcoin (though in some cases still possible, due to user error and other factors), have become too closely linked with the criminal underworld.

Monero, for instance, is increasingly associated with “cryptojacking” attacks, where hackers infect computers with malware that hijack CPUs and use them to mine cryptocurrency.

...

As CCN reported, Japan’s licensed cryptocurrency exchanges recently formed a self-regulatory body that will have enforcement power over its members. Among other things, the organization may curate a whitelist of cryptocurrencies that exchanges are allowed to list, which would provide the FSA with an easy avenue to pressure exchanges to de-list cryptoassets of which it does not approve without having to codify the prohibition into official policy.

All the more reason for decentralized exchanges
 

redbeard

Hummingbird
Moderator
Genghis Khan said:
This might be bad news for anonymous coins like Monero. Could potentially trigger other nations to follow suit:

https://www.ccn.com/japan-is-pressu...ges-to-de-list-anonymous-altcoins-report/amp/

Japan’s Financial Services Agency (FSA) is pressuring local cryptocurrency exchanges to de-list privacy-centric altcoins such as Monero, Zcash, and Dash.

Writing in Forbes, Tokyo-based journalist Jake Adelstein reports that sources close to the FSA say the regulatory agency — which has sole authority to grant licenses to cryptocurrency exchanges — is “taking all available steps” to pressure domestic trading platforms to drop support for altcoins that tout the ability for users to make anonymous transactions.

The FSA claims that these cryptocurrencies, which are generally much more difficult to track than Bitcoin (though in some cases still possible, due to user error and other factors), have become too closely linked with the criminal underworld.

Monero, for instance, is increasingly associated with “cryptojacking” attacks, where hackers infect computers with malware that hijack CPUs and use them to mine cryptocurrency.

...

As CCN reported, Japan’s licensed cryptocurrency exchanges recently formed a self-regulatory body that will have enforcement power over its members. Among other things, the organization may curate a whitelist of cryptocurrencies that exchanges are allowed to list, which would provide the FSA with an easy avenue to pressure exchanges to de-list cryptoassets of which it does not approve without having to codify the prohibition into official policy.

All the more reason for decentralized exchanges

LocalBitcoins has XMR/JPY pair.

No brakes.
 

redbeard

Hummingbird
Moderator
Sidney Crosby said:
If I have some XMR on Binance will I be able to participate in the Monero V fork?

Don't participate in any of the upcoming forks. They're all scams and will compromise your private keys, opening up vulnerabilities in not only your funds, but the security of the entire network.
 
^ I don't understand all details but couldn't I start a new Monero wallet just for the fork and then after everything is done transfer everything back to a different wallet or sell my monero and be totally safe?

I just received a reply from Binance

Our principle regarding coin fork and candy airdrop.
1. Normally, Binance does not support coinfork and candy airdrop.
2. If there is any that we decide to support , an announcement will be issued at least 7 days in advance.
3. Forked coins also need to go through standard listing application procedure and trade will be open only if they get approved.
 

redbeard

Hummingbird
Moderator
In that case, they would still be able to take your money when you submit your initial private keys.

Also, submitting your your private key compromises ring security.

Read this:

https://medium.com/@tweetingpauls/beware-of-non-native-forks-of-monero-6f5a0bf1fccf

and this:

https://www.reddit.com/r/Monero/comments/7vcz78/psa_monerov_is_blatantly_a_scam_made_to_enrich/

The /r/monero community is the BEST crypto subreddit around. The devs pop in and answer questions all the time.

The fact that your money is on Binance signals that you don't have much. I understand you want to make some sick gains, but there are other ways than fork hunting.
 

redbeard

Hummingbird
Moderator
It's risky. Don't do it.

Not all forks are bad. For example the BCash fork, I was able to get the funds off my Ledger. No one had access to my private keys.

If MyMonero was supporting this fork, this would be a different story, and I'd be right there with you dumping my forked shitcoins LOL
 

Samseau

Owl
Gold Member
Monero hitting big lows at .018... I think it will go lower, I'll feel like a fool if it doesn't, but I'm waiting to buy in right now. If it goes below .015 I'll definitely buy. The thing is, historically Monero goes to the moon after being low for awhile, so it's risky not to buy in now. At the same time BTC has continued to perform well (as I thought it would) and so I am hesitant to sell BTC just yet. I'll be keeping an eye on the price every day right now.
 

Mikestar

Kingfisher
I have been reading on crypto on a while but I am a beginner and have never purchased any in my life yet. I set up Coinbase, finance and a mymonero wallet and I would like to buy some Monero. I want to buy and sell in British pounds, can anyone advise me on what the best method for this would be? Is it better to buy some bitcoin and then buy it off finance?

Another question I have is if I deposit in British Pounds is it wise to trade in Euros for example or will there be an exchange commission applied?
 

The Grey

Sparrow
Mikestar said:
I have been reading on crypto on a while but I am a beginner and have never purchased any in my life yet. I set up Coinbase, finance and a mymonero wallet and I would like to buy some Monero. I want to buy and sell in British pounds, can anyone advise me on what the best method for this would be? Is it better to buy some bitcoin and then buy it off finance?

Another question I have is if I deposit in British Pounds is it wise to trade in Euros for example or will there be an exchange commission applied?

Coinbase is great for your first crypto purchase using an insignificant amount for the purpose of seeing what happens. They have great user experience compared to others. But stop using coinbase after that. The reason is they charge almost 4% every time you either buy or sell.

I advise you to set up an account at Kraken, complete their verification process and do a sepa bank transfer (Normally takes working 1 day within europe). Then buy Monero here with 0.16-0.2% fees. Then send to your wallet.

If you wish to do this anonuomusly instead, use localbitcoin.
 

Mikestar

Kingfisher
The Grey said:
Mikestar said:
I have been reading on crypto on a while but I am a beginner and have never purchased any in my life yet. I set up Coinbase, finance and a mymonero wallet and I would like to buy some Monero. I want to buy and sell in British pounds, can anyone advise me on what the best method for this would be? Is it better to buy some bitcoin and then buy it off finance?

Another question I have is if I deposit in British Pounds is it wise to trade in Euros for example or will there be an exchange commission applied?

Coinbase is great for your first crypto purchase using an insignificant amount for the purpose of seeing what happens. They have great user experience compared to others. But stop using coinbase after that. The reason is they charge almost 4% every time you either buy or sell.

I advise you to set up an account at Kraken, complete their verification process and do a sepa bank transfer (Normally takes working 1 day within europe). Then buy Monero here with 0.16-0.2% fees. Then send to your wallet.

If you wish to do this anonuomusly instead, use localbitcoin.

Thanks a lot
 

The Grey

Sparrow
Vincent Chase said:
Giacomo Casanova said:
Great choice to buy Monero at those prices! Real bergain.

What does it do?

Like Bitcoin, anyone can send or receive transactions. Unlike Bitcoin, none can tell the source, destination or amount.

One of my favorite dev teams as well. They recently did a big upgrade resulting in a 30x reduction in transaction fees.
 
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