Cryptocurrencies

White House Market only accepts Monero – Cryptocurrencies

darknet monero

Satoshi Nakamoto created Bitcoin (BTC) but, could it have grown without the darknet? This darknet platform has removed Bitcoin from the list of cryptos accepted for payments. These will now have to be done only in Monero (XMR).

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Bitcoin shunned by the White House

One of the main market places in darknet, the White House Market, just deleted Bitcoin as a means of payment on the site.

According to a tweet posted on December 28, 2020, the Monero is now the only cryptocurrency accepted by the platform.

Site administrators had indicated that there were difficulties with a third-party application used by the site.

TheAPI of Morphtoken proceeded to block the exit nodes Tor from the payment processor.

The administrators had chosen to respect this decision, although this technical detail is relatively easy to circumvent.

They pointed out that plans for a transition to XMR were already in place.

Bitcoin is has been, Monero the new darling?

Created in 2014 thanks to the algorithm CryptoNight PoW, the XMR is a cryptocurrency focused on protecting user privacy.

This algorithm, which governs the mining process, avoids the need for specialized equipment, which makes the mining of the XMR cheaper.

Its protocol has features such as stealth addresses, ring signatures, dandelion ++, bulletproofs, etc. that make transaction data untraceable.

Statistics 1000x Group indicate that The White House Market is the only darknet platform Monero-only.

About ten marketplaces – Darkbay, Cannazon, Darkmarket, Torrez Market, Cypher Market, Dark0de, Mega and Monopoly Market – accept other cryptocurrencies like Bitcoin, Litecoin (LTC), Zcash (ZEC).

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As of December 29, 2020, 36.5% of darknet sellers accepted the XMR as a means of payment.

Could Monero eventually become the currency accepted by all darknet traders? The features of XMR delight advocates of the right to anonymity. Government institutions dream of destroying this machine that could free some citizens from their control – CipherTrace embarked on this adventure. Governments cannot go after Bitcoin directly, but they can always trace transactions and reach their authors. With CBDCs that will allow states to intrude even more into individual privacy, Monero presents itself as the “crypto of resistance” against this institutionalized voyeurism.

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