2 years ago

252

#XMR #Monero #DOJ
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📺 Videos 📺

Monero Overview 👉 https://rumble.com/v31ck7a-monero-review-why-xmr-needs-your-attention.html

China Mining Centralisation 👉 https://rumble.com/v31cmb2-miner-centralization-big-risk-for-bitcoin-.html

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- TIMESTAMPS -
0:00 Intro
2:11 Monero Overview
5:30 DOJ Takes Notice
9:08 Exchange Crackdowns
11:58 Monero Tech
15:14 XMR Tokenomics
18:45 Final Thoughts

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⛓️ 🔗 Useful Links 🔗 ⛓️

► Monero Website: https://www.getmonero.org/
► Atomic Swaps Paper: https://eprint.iacr.org/2020/1126.pdf
► Atomic Swaps Funding: https://ccs.getmonero.org/proposals/h4sh3d-atomic-swap-implementation.html
► Latest Monero Upgrade: https://www.getmonero.org/2020/08/18/network-upgrade-october-2020.html
► IRS Award: https://news.bitcoin.com/chainalysis-and-integra-win-1-25-million-irs-contract-to-break-monero/
► DOJ Doc: https://www.justice.gov/archives/ag/page/file/1326061/download

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📝 What is Monero? 📝

Monero is a peer to peer electronic cash. However, it was designed specifically for privacy as it's blockchain is completely hidden.

Through the use of stealth addresses, users are able to keep their unique Monero address while receiving inward transactions with a one-time public address.

However, no one else will be able to see that the end recipient of the payment is you thanks to the use of these stealth addresses.

You also have ring signatures. This is a mechanism where each transaction can be signed by a collection of other possible signers.

👮‍♂️ DOJ Framework 👮‍♂️

Monero is clearly a threat to the DOJ. They recently released a document which was basically an overview of the DOJ's thinking on cryptocurrency and its potential for illicit use.

There was a lot of information there but one of the most glaring admissions was the fact that the agency viewed the use of privacy coins such as Monero as indicative of possible criminal conduct.

Over at the IRS, they also are keen to get a peek of what is going down on the Monero blockchain. This is one of the reasons that they recently released a $625,000 bounty on any firm that could crack monero.

This is not really as bearish for Monero. This is because it clearly is a threat to these agencies and the fact that they are paying other companies to break it shows that they cannot break it.

📈 Exchange Risks 📈

That DOJ Doc has made it pretty clear. Any exchange that chooses to list these will have to make sure that they can implement the correct AML procedures on the coins coming onto the exchange.

This cannot be done with Monero so it means that these exchanges are likely to have a tough time. There are a number of exchanges that have avoided Monero because of this. However, an ideal solution could be atomic swaps.

With Monero Bitcoin Atomic Swaps, users could easily exchange their coins without the need for any sort of centralised exchange. This will mean that liquidity on decentralised exchanges will still be possible.

👊 Fighting Centralisation 👊

Centralisation is a risk to any cryptocurrency network and Monero has taken the fight head on by forking the code and harming the ability for ASICS to mine XMR.

In November of last year, they took their biggest step yet as they moved to a CPU optimised mining algorithm called "RandomX". This was meant to completely neuter the impact of these ASIC machines.

They also introduced bulletproofs 2 years ago which dramatically decreased the amount of time that it took to complete transactions as well as the cost for doing so.

📈 Price Potential 📈

Monero has been on an upward trajectory over the past 3 weeks as onchain activity has been picking up. This could be some new optimism in the privacy coin as users realize its anonymity benefits.

There are also favorable tokenomics with Monero in that there is tail emission. This is a constant block reward that will be 0.6 XMR. This is needed in order to make sure that miners are still incentivized to push blocks even once they reach the end of 2022.

This is better than the case with Bitcoin where the moment that we have reached the point when block rewards drop to zero, the miners have less incentive to keep the network alive.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Monero #XMR #crypto #privacy #blockchain #DOJ #bitcoin

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