Topic: Could Monero replace Bitcoin soon? - page 17. (Read 33728 times)

Right, but a thing that has no other use but as a speculative financial instrument is going to be totally useless once the market runs out of greater fools.  At least you could still admire the beauty of a tulip after tulipomania.  If XMR is actually used in dark markets, which I guess is what's being hyped now, then it'll have utility.  If not, it's going straight down the toilet and into the shit pile of shitcoins.  The ones you can get for free on Yobit but can never get enough to cash out.  In ten years, you'll see what I mean.  Ten years, tops.

https://github.com/jwinterm/LightWallet2

jwinterm's lightwallet could suffice, no?

There is already a web wallet. It's taking a long time because this project had no premine. It's entirely funded by devs and volunteers and donators. Also, these devs are serious - They focus on core functionality improvements before flashy GUI, but it's being worked on no worries.


Pretty much that yes. It would be like trying to stop the rise of the internet back in '92 lol.

If the use of XMR in darknet markets become increases and will get to a point where the transactions are in the millions of $, it could become the cryptocurrency of choice in the darknet and could replace BTC in the darknet.

The developers need to make a light wallet for this to happen. I do not even know why it is taking long to make a GUI for the current wallet.

The difference is that when they fight BTC, they can win, but when they fight XMR, they can not win. The difference is as simple as the difference between slavery and freedom.  Many prefer a comforting slavery.

never.... bitcoin already have a "bad reputation" around the world because it was used mainly in dn, imagine xmr.... it will be even worse with time. government, banks, they will all fight against monero.

I hope so... Because, I will just keep buying MOAR!


Not really. It's made me quite a few BTC in just a few days.

xmr is useless

XMR is a cool coin with cool developers but do not get caught in this ridiculous hype/pump. This kind of growth will not be sustained. Buy orders are already very weak at 0.008. 63% was a hell of a pump, congratulations for the lottery winners, I hope you are selling your tickets before the pump ends.

Sell your expensive XMR and buy cheap ETC before the next ETC big pump, that is how money is made.

And remember that BTC is king.

it is funny that when the altcoin, no matter what it is, is getting pumped and it is already on rise and needs more fuel for the pump, this is the only time people start talking about that altcoin, again no matter what it is, replacing bitcoin.

then again it becomes funny again when a week is past from the pump and price is back to normal levels, you no longer even hear the name of that altcoin, again no matter what it is.

and this cycle continues for another altcoin being pumped

LOL monero useless coin pump, won't even waste time.

IT WILL dump back down to prior levels in weeks I bet.

In a certain way, the origin of a cryptographic scheme shouldn't matter, as it should contain its own proof that it doesn't contain back doors (as like in using mathematical constants or prime numbers or the like), or at least, so that the mathematical race is open to anyone to discover the back door.
In good cryptography, you should be able to check everything for yourself and not have to rely on the trustworthiness of its designer.  As such, ALL THE NUMBERS in it should have a mathematical foundation, and no random number should appear.  If that is the case, then you know that there are no "undiscoverable" back doors.  There can be back doors still, but they rest on mathematical superiority of the back door designer, not about missing entropy.  Mathematical superiority is not guaranteed to last.  Missing entropy is, as long as the private key is kept by the back door designer.

For instance, it might be that the back door designer uses a special elliptic group of which he has discovered certain math properties which allow him to solve the discrete log problem efficiently.  As such, he can break all of this crypto.  But this mathematical discovery is open to anyone, and just any other mathematician may do the same discovery.  At that point, the back door is available to anyone (and the system is recognized broken), or at least is open to this other mathematician.

However, using a "random number in the code" as a public key, for which only the designer has the corresponding private key, is an entropy advantage that the designer will keep as long as he keeps his key secret.

I think that the coming publicity of Zcash will have a positive effect on monero and DASH, as it will draw attention to the anonymous aspects (or lack thereof) in most others.    I'm trying to study zcash, I agree with most critics but I haven't understood everything yet.  My opinion for the moment is that Monero is technically vastly superior over DASH, and I think that it remains superior over Zcash, but I haven't wrapped my mind around everything in zcash yet.
My still rather uninformed opinion about zcash is that there are severe cryptographic "taboos" (trusted setup, golden keys for the developers, and most importantly, I think that zcash is not applying anonymity automatically and passively, but that you have to mix "on purpose", making you hence a targeted suspect).  On the other hand, IF one can trust what has to be trusted, then it seems that the anonymity offered by zcash is more absolute as compared to monero.  (but that sounds like an oxymoron: "if you can trust X, then Y is perfectly anonymous...".

Troll on. The only "many hints" was one paid blog post in 2014 that was absolutely crap in terms of sources and substance.

Ironic you say that since there is many hints Cryptonote is from the Mossad or NSA lol.

Nothing to worry about. It is very simple cryptography that even a fifth grader can understand, no way anything sinister could possibly be hidden in there. Worrying about the Mossad here is like worrying about some back door in openssl. /s

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

Because a lot people just look at how volatile and profitable Ethereum has been compared to Bitcoin in the recent time.

These people are only looking for quick gains and don't look at things from a realistic point of view.

Just look at how many noobs think Bitcoin will replace the USD, banks, governments, and all other nonsense.

Why do so many people seem to think that ethereum is competition for bitcoin. Ethereum can never expect to reach the kind of values bitcoin is currently at because it wasnt designed to. Yes its a good platform and has advantages over bitcoin in other areas but ethereum is not designed to gain value in the same way that bitcoin is.

Ethereum is useless and definitely will not replace Bitcoin.
They won't even come close to achieve that after their bailout hardfork.
Monero also will have no chance to reach that.But XMR could find it's niche and prosper.In terms of anonymity there is imo no better coin at the moment.
In terms of trading I think the time for shorting it is coming.