Oxous
kiwifarms.net
- Joined
- Aug 3, 2021
If Riccardo is Animal Control-worthy then Vitalik definitely needs a thread there too.
$ (XMR) Monero
- Thread starter Null
- Start date
- Joined
- Jan 19, 2020
https://cointelegraph.com/news/kraken-to-delist-monero-for-uk-customers-by-the-end-of-november
In an email quoted by Reddit users, Kraken, the world's eighth-largest cryptocurrency exchange by trading volume, announced it would be delisting privacy coin Monero (XMR) in compliance with regulations in the United Kingdom. The platform will cease all XMR trading activities, set XMR wallets to withdraw-only, and force-liquidate any existing XMR margin positions after Nov. 26.
Through advanced cryptography, privacy coins like Monero obscure participants' public wallet addresses and payment amounts when their transactions appear on the blockchain, making it improbable, in the context of current technology, for forensic entities such as Chainalytics to digitally trace the identities of the transacting parties.
The development of privacy coins such as XMR has been a controversial topic. Supporters claim that they provide users with greater personal privacy than cryptos with universally-viewable ledgers like Bitcoin (BTC), knowing that individuals' public wallet addresses and transactions can't be cross-compared with know-your-customer information stored on exchanges to pierce the shroud of their identity. However, critics say that the untraceable nature of privacy coins makes their adoption ideal by criminals, such as for use in drug trafficking, tax evasion or money laundering operations.
As a result, privacy coins face scrutiny from cryptocurrency exchanges across the world. Last year, Coinbase refused to list XMR, citing regulatory concerns. Earlier in January, Bittrex delisted XMR, as well as leading privacy coins Zcash (ZEC) and Dash. Riccardo Spagni, the former maintainer of XMR, was arrested in the United States in July at the request of the South African government on alleged fraud offenses in that country between 2009 to 2011. He has since been released from custody, but court proceedings are ongoing.
Despite the growing backlash from centralized financial institutions and administrative bodies against privacy coins, they have continued to gain traction among cryptocurrency users. According to CoinGecko, the total market capitalization of all privacy coins now stands at nearly $15 billion.
Kraken to delist Monero for UK customers by the end of November
Although privacy coins grant users unparalleled protection for their personal information, some fear they can easily be used for illicit purposes.In an email quoted by Reddit users, Kraken, the world's eighth-largest cryptocurrency exchange by trading volume, announced it would be delisting privacy coin Monero (XMR) in compliance with regulations in the United Kingdom. The platform will cease all XMR trading activities, set XMR wallets to withdraw-only, and force-liquidate any existing XMR margin positions after Nov. 26.
Through advanced cryptography, privacy coins like Monero obscure participants' public wallet addresses and payment amounts when their transactions appear on the blockchain, making it improbable, in the context of current technology, for forensic entities such as Chainalytics to digitally trace the identities of the transacting parties.
The development of privacy coins such as XMR has been a controversial topic. Supporters claim that they provide users with greater personal privacy than cryptos with universally-viewable ledgers like Bitcoin (BTC), knowing that individuals' public wallet addresses and transactions can't be cross-compared with know-your-customer information stored on exchanges to pierce the shroud of their identity. However, critics say that the untraceable nature of privacy coins makes their adoption ideal by criminals, such as for use in drug trafficking, tax evasion or money laundering operations.
As a result, privacy coins face scrutiny from cryptocurrency exchanges across the world. Last year, Coinbase refused to list XMR, citing regulatory concerns. Earlier in January, Bittrex delisted XMR, as well as leading privacy coins Zcash (ZEC) and Dash. Riccardo Spagni, the former maintainer of XMR, was arrested in the United States in July at the request of the South African government on alleged fraud offenses in that country between 2009 to 2011. He has since been released from custody, but court proceedings are ongoing.
Despite the growing backlash from centralized financial institutions and administrative bodies against privacy coins, they have continued to gain traction among cryptocurrency users. According to CoinGecko, the total market capitalization of all privacy coins now stands at nearly $15 billion.
Oxous
kiwifarms.net
- Joined
- Aug 3, 2021
Britbong moment. At least Haveno is being developed.
- Joined
- Dec 21, 2019
Thanks for posting this. Just makes me wanna buy some more Monero.
- Joined
- Jan 6, 2016
It is quite aggravating how many tokens and coins and things are jumping on the public Fiat backed traditional banking systems these days. All of my normie friends on social media are like oh look at me I'm a super duper "cryptonaut". Assholes.
- Joined
- Jun 5, 2015
- Joined
- Sep 24, 2014
Ledger updated their Monero app recently. I don't know what's different but this is the first time I've noticed an update on this app.
- Joined
- Apr 6, 2020
It's been dropping lower and lower ever since I've exchanged some of my hard-earned neetbucks. Feels bad man.
- Joined
- Feb 22, 2020
This vol is nothing in crypto land. If you can't handle the heat, maybe stay out of the kitchen?
- Joined
- May 10, 2019
Think of it as a sale that keeps getting extended.
- Joined
- Feb 22, 2020
Exactly. Given the inflation we're seeing, $100k BTC is inevitable at this point. And that's just the OG..
greenthrowaway
kiwifarms.net
- Joined
- May 27, 2020
Monero is the most anti-glow coin out there, so don't expect correlation with other markets as there is no institutional money in it. What will happen is sudden drops and gains as whales perform atomic swaps when trying to anonymize their wealth. If you are long in this, just dollar cost average. A lot easier to get a suicide stack or a fractional ownership of overall Monero compared to bitcoin.
Oxous
kiwifarms.net
- Joined
- Aug 3, 2021
Haveno development continues. Unfortunately, the past months cut the dollar value of the XMR donations they received by half so they have to ask for money again. They're asking for between $154,000-$231,000 to develop the frontend.
nichtmeinName
kiwifarms.net
- Joined
- Sep 3, 2020
Looking to buy Monero. Should I buy a Hardware Wallet?
This would be my first Crypto Investment.
This would be my first Crypto Investment.
greenthrowaway
kiwifarms.net
- Joined
- May 27, 2020
The whole point of Monero is to not keep it on an exchange. You want full control of it, and to always be able to spend it or send it at your leisure. You can start off with a soft wallet, but you'll probably want a hard wallet once you've acquired more monero than say 3-5x the cost of the wallet.
nichtmeinName
kiwifarms.net
- Joined
- Sep 3, 2020
Then should I buy a different Coin? I want it to sit in my Wallet and increase in Value if thats realistic.
greenthrowaway
kiwifarms.net
- Joined
- May 27, 2020
Monero is a good option for just holding as opposed to other coins that have value in lending or staking. Whenever you “buy” a coin on an exchange you don’t truly own it until you withdraw it into a wallet you own the keys on. Otherwise it’s merely an IOU and exchanges have been known to limit withdrawals or delist coins. It’s not worth buying a hardware wallet for less than $100 worth of monero but once you exceed $1000 do you really want an exchange to become your guarantor of funds when you have zero legal protection and can’t even call them on the phone to demand a withdraw?
Exchanges like KuCoin are great for efficiently exchanging tokens, but shouldn’t be considered for long term stores of wealth. If one day monero becomes “banned” good fucking luck trying to get yours off an exchange. Good fucking luck to glowies trying to get it if you’re on a hardware wallet.
- Joined
- Sep 24, 2014
A lot of us are already kind of fucked when it comes to exchanging USD/XMR. Most exchanges are banned in my state, and the ones that are allowed don't offer XMR. I either have to use a VPN and use a foreign exchange, or a p2p service like localmonero.co. Holding Monero is extremely inconvenient to me, especially considering the GUI wallet refuses to work properly on Windows home edition, but I still want to support the project as much as I can.
There's no reason to think that every state won't be regulated in a similar way going forward. While the fed is being forced into adopting crypto, they have no intention of making it easy to trade privacy coins. I know some blockchains (LTC) have talked about adding privacy protocols like Mimble Wimble, but I have no idea what has been implemented or what the timeline looks like. It's unlikely that US exchanges will delist BTC and LTC if they implement privacy, but it's also likely to kill the use cases on Monero if it succeeds. That Tor based DEX can't come fast enough.
If I'm totally out of touch on the issue, please correct me. I'd love to know how to make moving XMR around easier.
greenthrowaway
kiwifarms.net
- Joined
- May 27, 2020
KuCoin doesn’t require KYC. You can send stablecoin from an on-ramp your state permits like Coinbase Pro.
Exodus has a Win executable and is XMR compatible.
So if your state has a KYC exchange with bank account linking just buy tether, withdraw USDT to KuCoin, trade USDT/XMR, withdraw XMR to exodus. Keep your seed safe so you can access the wallet if you ever need to wipe your HD.
Kraken is accessible in most states and many banks work with it natively. To save a few steps create a KYC account there and try to do a purchase through bank transaction. Then simply withdraw to exodus once the funds clear.
- Joined
- Sep 24, 2014