Post
Topic
Board Altcoin Discussion
Re: Multi-chain cryptocurrencies for greater censorship-resistance
by
Heisenberg_Hunter
on 12/04/2020, 19:58:47 UTC
It's best to avoid cryptocurrencies with negligent developers behind it, since you'd risk getting your funds manipulated easily across the Blockchain.
Truly speaking, most of the ICO coins were closed source and developers were trying to scam the investors with the launch of coins. At the end of 2017, I came across Oyster Protocol and most of it's team along with the head dev were quite anonymous but the project as a whole was very much promising. They were one among the famous 'get rich quick coins' during the bull run. Within 2 weeks - 4 weeks of launch, the coin traded from as low as $0.005 to as high as $4 at the December peak. Bounty hunters earned few hundred thousand dollars through shitposting but at the end of 2018, the lead anonymous dev increased the coin supply all of a sudden and tanked the coin completely in Kucoin and ran away with millions of funds.

ICO trends were once a smart way to scam newbie investors and right now either the investors have become matured after losing thousands of dollars or they have ran away from the cryptocurrency market. We wouldn't be seeing much interest towards these ICO coins/ Altcoin markets and all would be diminishing as years passes by.

Monero has experienced various de-listings of exchanges because it's a privacy coin itself.
...snip...
Otherwise, people will lose trust in small coins day-by-day as they're constantly targeted by hackers in cyberspace. Grin
I like the core idea behind the CryptoNote tech and this is one among the reasons I still vouch for Monero and its developers. I am aware of the fact that they are highly anonymous and being used by dark markets for transactions but doesn't common people deserve the privacy of using these coins? I hate dark markets and people selling illegal and dangerous stuffs through Dark Web but some still consider this as a way of freedom. Physical Terrorism financing is quite different while comparing to the Cyber Terrorism or dark markets selling illegal goods to various countries.

In Physical terrorism, terrorists travel through various countries from a particular epicenter for terrorism by masking themselves as visitors of the country thereby using the various fiat currencies available in the particular attacking country. But cyber terrorism like conducting crimes through internet is highly discouraging and privacy centric coins like Monero are still being used for those. I am certainly afraid that privacy centric coins or cryptocurrencies in general might pave way to the ease of Cyber War in future.

We are currently experiencing a Bio War kind of stuff through the COVID-19 pandemic and there are reports China has faked the real death numbers. But this doesn't end here as we would be experiencing a Cyber War when Internet has taken over our life to an extent were we cannot live it even for a single day. There are villages in various parts of world still existing without Internet but this wouldn't be the case for long term.