Hacker News Reader

Ooh doesn’t this provide a legitimate reason to hold Monero? So maybe this will expedite crypto currencies that are intentionally difficult to track.

View on HN

This is exactly the perfect use-case for Monero. A transparent ledger (like BTC & ETH) could very well lead to serious legal trouble.

Unfortunately, fiat on-ramp/off-ramp will still be an issue. Not impossible to overcome, but certainly a huge hindrance to crypto adoption in India.

The problem with Monero is the lack of auditability (of token supply), no one knows if there was an accidental bug in the code that is inflating the supply.

We indirectly do know. How does an inflation bug get created? There's either a big in the underlying theory, or there's an implementation bug.

Both of those aspects (theory & implementation) have been audited multiple times by some of the foremost experts in cryptography.

afaik that's zcash not monero. monero works like most other blockchains except it has decoy inputs/outputs, but at the end of the day inputs=outputs so it's trivial to verify no inflation happened.

> Unfortunately, fiat on-ramp/off-ramp will still be an issue.

It's a huge problem but not for the wealthy.

Reply on news.ycombinator.com