Monero: Difference between revisions

Latest revision as of 00:56, 23 February 2025

⚠️ Article status notice: This Article's Relevance Is Under Review

This article has been flagged for questionable relevance. Its connection to the systemic consumer protection issues outlined in the Mission statement and Moderator Guidelines isn't clear.

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Notice: This Article's Relevance Is Under Review

This article has been flagged for questionable relevance. Its connection to the systemic consumer protection issues outlined in the Mission statement and Moderator Guidelines isn't clear. Articles that focus on isolated incidents, personal disputes, or local matters may not meet the inclusion criteria for the Consumer Action Taskforce Wiki.

Why This Article Is In Question

Articles in this wiki have to meet the following criteria:

Systemic Nature: Demonstrate a broader pattern of systemic abuse, negligence, or policies that align with modern consumer exploitation (e.g., ownership revocation, barriers to repair, privacy violations, changing the terms of the sale after the sale).
Relevance: Relate to consumer protection issues that extend beyond individual grievances or localized problems.
Evidence: Provide verifiable evidence or credible sources to support the author's claims and demonstrate systemic impact.

Examples of articles that do not meet these criteria:

A single negative customer experience; with no evidence of systemic issues or company policies enabling such behavior.
Localized disputes, such as a bad experience with a contractor or small business, better suited for platforms like Yelp or local consumer protection agencies.
Complaints that focus on personal dissatisfaction (e.g., "I waited too long for a response") without tying the issue to broader consumer exploitation themes.

How You Can Improve This Article

To justify the relevance of this article:

Provide evidence demonstrating how the issue reflects broader consumer exploitation (e.g., systemic patterns, recurring incidents, or related company policies).
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Add credible sources or documentation that substantiate claims and connect them to systemic practices. i.e:
- A company that takes 5 days too long to refund a deposit is a bad Yelp review. Not eligible for inclusion.
- A company with 500,000 active repairs at any given time that purposely delays all deposit refunds for a period of five days, in order to invest/gamble with these deposits on their balance sheet, with verifiable hard proof from internal communications that this was an intentional & standard practice performed with malicious intent is eligible for inclusion.

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End of Stub Notice. The article content begins below this line.

Monero (XMR) is a cryptocurrency launched in 2014 that uses cryptography to ensure all transactions are private and untraceable by obscuring sender, recipient, and amount details.

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+{{irrelevant}}
-=== B*tcoin: The Misleading Promise of Privacy ===
+'''[[wikipedia:Monero|Monero]]''' (XMR) is a cryptocurrency launched in 2014 that uses cryptography to ensure all transactions are private and untraceable by obscuring sender, recipient, and amount details.
-==== Original Goal of B*tcoin ====
-B*tcoin was created in 2008 by an anonymous entity known as Satoshi Nakamoto. The original goal was to establish a '''peer-to-peer electronic cash system''' that would enable transactions without the need for a central authority. This was a response to the 2008 financial crisis, aiming to create a transparent, decentralized financial system.
-==== Why B*tcoin Cannot Provide True Privacy ====
-B*tcoin transactions are recorded on a '''public ledger called the blockchain'''. While this ensures transparency and security, it also means that all transactions are visible to anyone who accesses the blockchain. This lack of privacy is a significant drawback for those seeking anonymity.
-==== Misconceptions About B*tcoin Privacy ====
-Many people believe that B*tcoin offers privacy because they do not fully understand how the internet or blockchain works. The internet is a '''network of networks''', where data is transmitted in packets between devices using standardized protocols. Similarly, the blockchain is a '''distributed ledger''' that records transactions across multiple nodes in the network.
-==== The Solution: Monero ====
-Monero is a cryptocurrency designed to provide true privacy. Unlike B*tcoin, Monero uses '''ring signatures, stealth addresses, and confidential transactions''' to obscure the details of transactions. This makes it much harder to trace the flow of funds, offering a higher level of privacy.
-==== Additional Measures for Users in Restrictive Countries ====
-For users in countries like China, where internet censorship is prevalent, additional measures such as '''Tor and Tor bridges''' are necessary. Tor (The Onion Router) helps anonymize internet traffic by routing it through multiple servers, while Tor bridges are used to circumvent network restrictions.
-==== The Misleading Promotion of B*tcoin ====
-Despite its limitations, B*tcoin is heavily promoted by companies and influencers who may not fully understand or care about its privacy issues. This promotion can mislead the public into believing that B*tcoin offers more privacy than it actually does.
-In conclusion, while B*tcoin has its merits, it is crucial to understand its limitations, especially regarding privacy. For those seeking true anonymity, alternatives like Monero and additional tools like Tor are essential. It's important to be well-informed and cautious about the claims made by promoters of any cryptocurrency.