We expect this to cause XMR spike in the price, so if you are an investor, now is the time to purchase Monero.

in #monero8 years ago

Forget Bitcoin. There a new digital currency that is surging as  online drug-dealers begin adopting it to conduct business with more  anonymity.The two-year-old currency Monero  has more than quadrupled this month after gaining support from  prominent websites that anonymously peddle drugs. It spiked to as much  as $10 on Sunday after AlphaBay, one of the most popular sites for  buying drugs like liquid LSD and hybrid cannabis, said last week it will  begin accepting the currency on Sept. 1. The total value of all Monero  in circulation pushed past $100 million on Monday, up from about $25  million at the end of last month, according to coincap.io.


Following  demand from the community, and considering the security features of  Monero, we decided to add it to our marketplace, AlphaBay announced on Reddit  last week. We expect this to cause a spike in the price, so  if you are an investor, now is the time to purchase Monero.


Bitcoin, the most popular digital currency in the world with a total  value of $9.1 billion, also allows users to move funds discreetly and  uses a network of miners to verify the authenticity of each trade. But  its privacy has come under threat as governments and private  investigators increase their ability to track transactions across the  bitcoin network and trace funds to bank accounts ultimately used to  convert digital assets to and from traditional currencies like U.S.  dollars.


Monero similarly uses a network of miners to verify its  trades, but mixes multiple transactions together to make it harder to  trace the genesis of the funds. It also adopts dual-key stealth addresses, which make it difficult for third-parties to pinpoint who  received the funds. 


Full Story:  http://www.bloomberg.com/news/articles/2016-08-29/new-digital-currency-spikes-after-giving-criminals-more-secrecy   http://www.bloomberg.com/news/articles/2016-08-29/new-digital-currency-spikes-after-giving-criminals-more-secrecy