Adonis Diaries

Drug Dealer’s Crypto-currency of Choice: Monero Market

Posted on: January 26, 2017

Monero, the Drug Dealer’s Cryptocurrency of Choice, Is on Fire

For the crypto-currency community, 2016 was a very good year.

If it’s good enough for a drug dealer, it’s good enough for everyone else.”

Bitcoin doubled in price. The far-out Bitcoin alternative Ethereum shot up by a factor of 10.

But another, once-obscure cryptocurrency called Monero outpaced all of them, multiplying its value around 27-fold.

That’s a windfall not just for cryptocurrency speculators, but for financial privacy advocates everywhere—including a few suddenly wealthy dark web drug dealers.

Over the last year, the value of the hyper-anonymous cryptocurrency Monero grew 2,760 percent, making it almost certainly the best-performing cryptocurrency of 2016.

Today each Monero is worth around $12, compared with just 50 cents at the beginning of last year, and the collective value of all Monero has grown to close to $165 million.

The source of that explosive growth seems to be Monero’s unique privacy properties that go well beyond the decentralization that makes Bitcoin so resistant to control by governments and banks. It’s instead designed to be far more private: fully anonymous, and virtually untraceable.

Advertisements

1 Response to "Drug Dealer’s Crypto-currency of Choice: Monero Market"

Reblogged this on canisgallicus and commented:
“Supreme excellence consists of breaking the enemy’s resistance without fighting.” Sun Tzu, Art of War

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

adonis49

adonis49

adonis49

January 2017
M T W T F S S
« Dec   Feb »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Blog Stats

  • 919,583 hits

Enter your email address to subscribe to this blog and receive notifications of new posts by email.adonisbouh@gmail.com

Join 461 other followers

%d bloggers like this: