On May 22, the Wall Street Market technical operator said that staff were a bit busy “working on a new big feature for WSM.” And on July 6, the Wall Street Market (WSM) staff revealed that big feature: Monero implementation.
Currently, Wall Street Market is the only darknet marketplace with Monero support. Both Alphabay and and Oasis enabled Monero transactions in August. But Oasis vanished. And Alphabay went offline in early July—temporarily, according to Alphabay staff members on Reddit. Nevertheless, until Alphabay returns, WSM is the only Monero-accepting marketplace.
The announcement was made on the WSM forums and on Reddit (and preemptively in DeepDotWeb comments). “A new part of history in our market has just begun,” the technical operator wrote.“Until now it was a pleasure to work with bitcoin mates, but from now on you have to share our market with monero people.”
“WallStreet Market is proud to announce that we´re finally integrated active monero support without a deposit system. Just order how do you already know from bitcoin on our market and transfer the specified funds to the shown wallet. […] It took a lot of time to get this done with testing and coding. So when you notice an error or an bug feel free to get in touch with us. Our development team will get rid of it.”
Like previous darknet marketplace implementations, if a vendor supports Monero, their listing will show an icon for Monero. At checkout, buyers have the option to select which currency to use for payment. The choice is between the Bitcoin option labeled “Leading coin” and the Monero option labeled “Highest anonymity.”
The description underneath the Monero option reads: “Monero uses ‘ring-signatures’, which are very hard (nearly impossible) to track. You do not have to worry about this anymore.”
The “what this means” section of the announcement:
“Monero is now on WSM. What do I need to know?
Vendors are now able to activate monero payments on their offers. They just need to add a receiving monero address like on bitcoin payments. You see on offer listings and details the bitcoin and monero logo (if the offer supports the cryptocurrency). Bitcoin is still available as you know it.”
And the two reasons WSM implemented Monero:
“What is Monero?
Quick: Monero is a cryptocurrency like bitcoin.
But.. why did we add that? 2 reasons:
– Bitcoin scaling debate; Bitcoin is slowly sinking. It’s core techniques are not ready wide-use. It can’t handle much transactions. Due to the scaling debate and some other points we lost some trust in bitcoin. But it’s still a extreme trustful cryptocurrency as it is the longest alive.
– Privacy problems. Bitcoins public attention has a dark side. A lot of companies and governments are currently developing tracking programs for bitcoin. Monero solves that by new cryptographic methods. Nobody knows how much coins you own or to who you send your coins.”
They remind people with suggestions to leave a support ticket on the site. The announcement closed with a hint: “we’re also planning even more big changes very soon.”
Full announcement is available on Reddit or the WSM forums.