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.

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

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January 2017

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