Ethereum and Monero: thoughts from Buyers and Vendors?

The Grand Wizard is thinking about diversifying his cybercurrency portfolio and may begin accepting altcoins in the near future. Does anybody here have buyer or vendor experience with Ethereum or Monero and, if so:

1) What percentage of your purchases/sales are made with altcoins?

2) What advantages or disadvantages do you see to Ethereum or Monero?

We are very tempted to get in on the ground floor with Zcash. It has no place to go but up and a few sales now could turn into a nice chunk of cyberchange in a couple months -- or they could turn into nothing as the coin crashes and burns.


Comments


[15 Points] DriftedTaco:

I personally think monero is the way to go and want to see a slow switchover to monero for any dnm purchases, 100% anon and way faster than btc


[7 Points] marmarbinkz:

Monero all the way


[7 Points] murderhomelesspeople:

Etherium and Monero are both going up but Zcash is kind of the wild card, it's got so much backing and hype that it's either going to explode or implode. They made a deal with JP Morgan ffs to integrate some ZCash technology into JP Morgans own blockchain based off Etherium, with a name like that involved they're both going up.

My big issue with ZCash is the possibility of a massive bug lurking in it that could allow people to generate coins, it's impossible to verify the total amount of ZCash in existence so such a bug could go unnoticed. for quite some time. Also all the corporate backing and the way the mining profits work.

I'm Monero's bitch boy around here and I believe in the ethos behind it but the difficult technology behind as slowed adoption. Coinomi is releasing Monero integration soon which closes the mobile gap and Ledger seems to be making progress and is optimistic about making it happen. Once those are done, the GUI comes out of beta and Coinbase adds it'll be sailing. The reason a pitch Monero around here so much is because it is actually perfect for our use: open source, default anonymity features and sound cryptography. It effectively cuts the link in the blockchain you can check for yourself.


[3 Points] needlesandspoons:

Etherium is controlled by russian govt, I wouldnt use it.


[2 Points] shmoola:

Where does one go for these altcoins? Surely LBC wouldn't have them... Maybe start with some vendors on there?


[2 Points] wombat2combat:

just my two cents: if vendors accept more cryptocurrencies they should provide an anonymity advantage and not just accept the latest fancy coin.


[1 Points] DatingFrog:

Monero is essentially a one-trick pony. Once there's a ring signature smart contract for Ethereum I can see Monero fading away.

My money's on ETH


[1 Points] throwawayeth123:

One advantage to Ethereum is its much more profitable to mine than BTC. Made and spread a BTC mining piece of malware months ago, to date its made me just under 2$. Made and started spreading an Ethereum version on Saturday and its made me a little over $40 so far. Although the BTC mining one using the CPU rather than the GPU.


[0 Points] attilathehunn:

https://np.reddit.com/r/btc/comments/604g7f/alphabay_is_going_to_accept_ethereum_the_dark/df3lj4u/

Just for the record - I'm on the pro-BU side of things here - AlphaBay also began accepting Monero a few months back. As someone who allegedly receives referral commissions from buyers on that site, I can confirm that essentially nobody uses it.

. . .

Monero sees no use partially because there's little infrastructure around it, and you have to go through Bitcoin to get it. Will Ethereum suffer the same fate? Maybe not, but its use over the short term is likely minimal.

Bitcoin can be made anonymous enough already without too much difficulty, its much less volatile than altcoins and there's a much much larger infrastructure around it. I personally don't think altcoins have much use for us involved in online drug markets.

Also see this old thread: Why I will not accept XMR (Monero) as a vendor...

Ethereum is even worse, it's centralized and has NOTHING to offer the drug marketplaces.