Monero being accepted on Alphabay and Oasis Market, why Steem dollars could potentially be a better alternative.
Well, Alphabay and Oasis Market has added the monero option already to their sites. But it is not yet functional - we'll have to wait till 1st September for that.
This change has come in the midst of a Monero price hike - and in my opinion it's going to fuel it even more.
This could be a godsend for regular dark net users, since Monero is more secure and anonymous than bitcoin. It means that it'll be harder to trace down transactions, and therefore improve the overall experience of dark net markets.
It also shifts the mentality of bitcoin being the only viable cryptocurrency to be used to trade, and all the other cryptocurrencies are just for speculation purposes.
I thought, what if Steem could achieve that sort of anonymity? However, as Steem dollars are stable in price, the vendors and buyers wouldn't need to worry about exchange rate risk when trading anymore. This is a problem with Bitcoins, and still a problem with Monero.
Steem dollars are stable priced - while monero offers (virtually)completely anonymous transactions. They complement each other well.
I believe that if we can find a way to have completely anonymous transactions on Steem, then Steem dollars will be more attractive to dark net users. But that depends on the if. Right now, Monero is the best solution still.
Why is monero better than dash?
Dash has a premine, Dash uses masternodes which can be compromised, Dash uses coinjoin and is not anonymous on the protocol level. Mixing with Dash takes ages and is not as anonymous as using monero...
I think I read recently the Feds were working in cracking coin join. When I first looked at it I thought monero sounded better but I have been really impressed with dashes governance. Also you would need to compromise 50 percent of the masternodes right?i think there may end up being so many it can't be compromised.
Steem is very open, so I think would be a horrible currency for anything illegal. Creating accounts also cost money....
But the advantage is that steem is quite clean so far and that might be designed this way.
I agree, the transparency of steem is not at all well suited to darknetmarkets
Maybe monero could use a similar feature of Steem dollars to create monero dollars backed by new monero. Dash could probably do this easiest with its voting framework.
why did you flag my post? because you disagree with my opinion?