One huge problem with all CPU coins and that is bots. What about viruses, etc. infecting computers and having them serve as miners for DRK, MRO and other CPU coins?
Not 100% bad as it does strengthen the network but it can lead to problems later on. I could hear the department of homeland security now. But then again, any
anonymising technology (e.g. darkwallet), will probably cause similar reactions.
IAS
This^^ CPU only coins get destroyed by botnets..Monero will end up having a few hackers who own large botnet farms with the majority of coins. Don't be surprised when they dump 100k,200k etc Monero on the exchange. And the scaling/bloating issue of Monero's blockchain makes it even less accessible than Bitcoin and much much less user friendly...
I simply wouldn't invest in Monero because anyone can clone Bytecoin and make their own cryptonote coin, no innovation has gone into Monero like with Bitcoin forks.
There are 4 Bytecoin clones and they are, Monero, Quazarcoin, HoneyPenny, and FantomCoin. They all have the exact same code and were forked from Bytecoin's codebase...What makes any of them special or different from the other, and future cryptonote coins to come?
Nothing.Regarding the clones, MRO was the first fair launch of a CryptoNote coin and is in my eyes essentially first, I couldn't invest into Bytecoin due to their chain being two years old underground. If Bytecoin had been known for two years I wouldn't consider it a pre-mine and I would have supported Bytecoin instead. I always support the first [1] but Bytecoin was such a pre-mine it makes no sense to invest.
Regarding botnet dumping, I wouldn't worry so much as Bitcoin has been doing well with ASIC dumping and Litecoin with GPU dumping. I thought it was common knowledge many farms dump their coin straight back to USD, the amount of believers that mine is a lower percentage of the total amount of miners.
[1] I like the idea of Ethereum too, that's a fair launch. If they instead released with a two year old chain, we'll have to move onto a clone because it's unethical to support two year pre-mines, hence why I see Monero as being first, because Bytecoin is void.
Even if in your eyes Monero is seen as the "first", it's just a clone of Bytecoin and offers nothing new to the table...Monero has the same exact features as Quazarcoin, HoneyPenny, and FantomCoin. The only thing that makes them different is the names and logos...I'm sorry but coins like these never make it far, they may be hyped in the short run, but in the long run, having innovation is what carries a coin further, not being copied code for code like Monero was from Bytecoin..