Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 351. (Read 4671575 times)

A team of monero enthusiasts based in Hong Kong have launched an alternative version of LocalBitcoins.com.

Called LocalMonero.co, the website will connect buyers and sellers of the cryptocurrency based on country of residence. Users can meet and exchange monero for cash, or buy it online from a local seller.

Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures."

Like the currency itself, LocalMonero.co is also committed to privacy, according to its founders. Launching the website in a Reddit post, user "optocomp" stated:

https://www.coindesk.com/monero-getting-version-localbitcoins/

because the sum is huge then this is what I would do if I were you:
1 - go through KYC in multiple fiat supporting exchanges and open your own account there - in case you have not got yet (eg: Kraken, Bithumb, Bitstamp, etc...)
2 - go through KYC and open account on crypto only accounts - in case you have not got yet (eg: Bittrex, Poloniex, etc...)
3 - send your fiat to multiple exchanges as point one. For the ones with direct fiat/XMR pairing exchange directly in XMR. For the ones not supporting XMR directly, exchange to BTC first.
4 - move the BTC to the crypto only exchanges, exchange your BTC to XMR there.
5 - optional but recommended: transfer your XMR from the exchange to your own wallet so that you control the keys.

Agree with previous post: pay taxes as per regulations of the country where you're resident nevertheless.
And enjoy your Monero.

I have diversified my portfolio just few days before this latest rise took place. I think it is still time to re-arrange the plans for future and investor to add some coins/token like Monero and exclude some of already in possession. That article about Monero own version of localbitcoin's exchange is getting popular was great read these day.

Thank you for the suggestion but that doesn't answer the question

From my point of view Monero is getting ready for more big market I hope very soon it will reach $200. Current price is still very low as compare with it's competitor market than it has more superior tech and potentially it has room of growth to get more better position in coming days.

pay  your taxes and enjoy profits in the open. Dont sell all. This is just the start imho

Hi, I have a very important and general question.

If I have lets say $1M dollars( a very large sum ) . How to buy and cash out Monero without being spotted from government institutions?

Hi there, thanks for the reply.
Well indeed offshore holding can hold anything, from the ownership of a flat (rare nowadays) to the ownership of a company (and this instead many do).
I am not saying that this type of holdings will be converted to monero (or to be fair to any other stealth coin, there are more than a few out there).
But there are equally a lot of people that just purely hold money on a Hong Kong or Singapore account while instead they are resident elsewhere.
Now, it is a fact that all these people will get affected by CRS, and many many of them will be caught unprepared. But I do believe that a few of them are getting acquainted with Crypto and start moving their money here.
At the end of the day the only drawback of crypto is that from today to tomorrow the value can fluctuate big time. It usually goes up (and I like to believe that that is because continuous increase in adoption of trusted coins, that is faster than the generation of supply), but it can very well go down.
Other than this I don't see why money sitting on a bank account is better than having the money sitting on a ledger of the blockchain.
And since money on a bank account will starting having a big drawback starting 2018, then why not putting the money in Monero instead? (or other stealth cryptos)

Going back to the start, originally it was commented that the jump is due to the opening of the market in Korea with direct exchange KRW/XMR; if that was true and the increase was due to the common investors (say like me, I don't have THAT many cryptos) then the hourly increase of coinmarketcap would be a steady: 2 / 3%, may be 5, may be even 6 or 7 if frenzy... however the hourly percent increase touched high double digits in an instant... twice actually if I remember well...
And that, in my opinion, is possible only if BIG money floods in at once (I cannot quantify how big since the market cap is already big... billions of USD?).

Cheers

Hey guys come over to https://www.reddit.com/r/Monero/

Lots of good posts and community, easier to read than here

The truth is that offshore jurisdictions are used for a lot more than banking secrecy, and the risks of hidden wealth start to outweigh the reward as the value increases. This applies to XMR as well. For example, you might be able to use monero to cover your humble day-to-day activities without suspicion, but good luck buying anything of significant expense without drawing attention to yourself and having to explain where the money came from.

Most wealthy individuals and businesses will not take unnecessary risks to hide their money. Tax havens are used for asset protection, conducting international business, purchasing offshore investments, or minimizing taxes through legal means. All of this can be done without secrecy and it's associated risks. Monero definitely has some overlapping benefits, but I do not expect offshore wealth to start flooding into XMR purely for its privacy aspects.

Nah, Monero generates them too much fees (F**k BCN, need x3 to sell it without loss  )

With top volume on Polo and Bittrex  Yeeeaaahhhh sure mate 

yup you're right, that was just a quickie luckily
ok, back to onward and upward XMR

The notification is currently not displayed anymore. Thus, it seems like their wallet is up and running again.

perfect project
second btc 

^^ It is now, unfortunately

Anyone know the reason for this on Polo:
"XMR is currently under maintenance or experiencing wallet/network issues. Deposits and withdrawals will remain disabled until a solution is found, which may require an update from the XMR team. Any updates must be tested and audited before enabling."

If anyone knows anything please post, let us know

Well if you think about it, I have always seen on polo and bittrex that BCN deposits/withdraws are always unavailable... Never have I seen Monero to be unavailable.

                                                   
I don't think so. Hard to compare BCN with Monero if you check old times...

I hope Monero is not next.

https://thecryptopapers.com/2017/08/30/bytecoin-the-cryptopia-delist/

I remember very well when I bought XRM on December, 2016 at the price 8.5$ , and now the price 128$ is 120$/coin pure profit . Now I am more and more convinced to invest my money in XMR, I think it have a lot of potentioal to catch DASH's price. Also other cryptocurrency have a lot of potential.