Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
aminorex
on 11/09/2014, 05:12:51 UTC
1. You've got to make the anonymous currency popular enough that you less often need to convert it to fiat in order to use it. The anonymous coin must be a currency, not a silly investor pump like Monero.
Edit: if you want to talk about scams, look at Monero's emission curve which was designed to give most of the coins to your group of early investors (so you are not a scammer  Huh ):

This is roughly the opposite of the truth.  The faster the emission, the lower the price.  The lower the price the easier it is for persons of limited means to acquire.  A pump scheme favors the insiders.  In the case of Monero, insiders were not favored.  The bytecoin scammers were favored by privileged information about the crippled hash implementation.  That advantage was elminated rather quickly, and means little now.  They have probably spent most of their mined coins in conducting attacks on Monero already.

Professional service providers in my locale are already accepting Monero as payment for services rendered.  That is not true of any other privacy-enhanced crypto, to my knowledge.  Real use.  Real currency.  Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

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2. You've got to make it such that when you do convert it to fiat, you can provide your private keys if necessary and it can't be proven that you story of where you obtained the funds can't be proven false. (Obviously I am withholding some details on my thoughts here).

That would be a relatively small change to Monero.  You should submit a pull request if it is an itch you want to scratch.  I have no intention of ever converting a single XMR into fiat.  I'll just buy what I need to buy, with XMR.  If exigent circumstances require it, I could just buy gold, to impress the primitives with shiny, as required.