Cryptocurrency - there's a new kid in town

[Myriad]

Cryptocurrency - there's a new kid in town

Or maybe not so new ...

Monero has been around for a while , quietly .
But according to this Wired article , it's recently becoming very popular .

There is an ongoing legal battle involving Coinbase where the IRS is trying to enforce a "John Doe" type of disclosure order
on all of it's users .
Perhaps the two things are connected ?

I always reckoned that z-cash would eventually push Bitcoin aside , as the world's most favored cryptocurrency .
But who knows what the long-term future will be ?

 

[Bryan Lam]

Currently, Monero is big, but not big enough in terms of profitability in crypto mining. Right now, Ethereum, Ethereum Classic, Zcash are the largest. The main reason Monero is getting larger is because it's a Cryptonote protocol based currency. It's easy to mine through third party applications such as minergate.

 

[Myriad]

@Bryan Lam

As you say , Monero is based on Cryptonote which means that transaction anonymity is built-in from the ground up .
No need for mixing services to hide any "taint" , as encountered with Bitcoin.

It is a genuinely fungible cryptocurrency , and the current legal fiasco involving the IRS and Coinbase will certainly
make it more attractive than Bitcoin for some users .