Hello world! But you can’t have my cryptocurrency

Originally posted at Wired:

FOR THE CRYPTOCURRENCY society, 2016 was a very good year. Bitcoin doubled in cost. The far out Bitcoin alternative Ethereum shot up by a factor of 10. But another, once -obscure cryptocurrency called Monero outpaced all of them, multiplying its value around 27-fold. That’s a windfall not only for cryptocurrency speculators, but for fiscal privacy promoters —including a few dark web drug dealers that are abruptly loaded.

During the past year, the value of the hyper-anonymous cryptocurrency Monero grew 2,760 percent, making it almost surely the best-performing cryptocurrency of 2016. Each Monero is worth around $12, compared with only 50 cents at the start of this past year, now, and also the collective value of all Monero has grown to close to $165 million. The source of that explosive growth appears to be Monero’s unique privacy properties that go well beyond the decentralization which makes Bitcoin so immune to control by banks and authorities. It’s rather made to be much more private: totally anonymous, and virtually untraceable.

 

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