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  • Exceeded data usage for my internet May 26, 2019
    Hey guys, ​ For the first time ever, I exceeded my internet usage. I have 2 full nodes running in the house with incoming connection open.... ​ I can't think of anything but the nodes eating up my data (so stupid I have a cap, but that's another story). ​ Is it possible this caused […]
  • Problems with GUI wallet May 25, 2019
    When I first downloaded the wallet I didn't have any issues, not sure why I'm having problems now. Using a Ledger Nano S and I'm running the latest versions of the firmware and 14.0.0 Made a thread before because my wallet wouldn't synchronize, using a remote node. It finally synchronized after an hour, so I […]
  • Monero network stats website May 25, 2019
    Hi everyone, ​ long time lurker, i've a question in relation to a potential website idea that i already saw discussed before but not sure how that's done so far. ​ I myself quite like looking at all the stats that relate to particular coins but in fairness i'm missing a site that would aggregate […]
  • And Taxes May 25, 2019
    In many countries, when you convert one crypto to another or buy some product or service using crypto you need to report the gains and losses. But when using do I need to report the BTC to USD/CAD/EUR conversion as a gain and loss? Or do I only have to report the XMR to […]
  • Elude service May 25, 2019
    Sorry if this is spam (i've never really used reddit before) but I figured this would be a good place to ask. Looking to use Elude's bitcoin to monero service and was hoping someone has had experience with it. Seems good from my google and reddit search but just wanted to be sure! Thank you […]
  • finally, the full node on phone May 25, 2019
    ​ wallet monerod submitted by /u/newxmr7 [link] [comments]
  • Are there any online merchants that accept Monero for computer components? May 25, 2019
    submitted by /u/itstommygun [link] [comments]
  • Monero's Presence at this year's Defcon (and the CCS proposals needed for funding for it to happen) May 25, 2019
    Everyone. Everyone. Settle down. Now you may be wondering why I called you all here today. We're here to discuss the Monero Village at Defcon this year. For those who don't know, Monero had a village at last year's Defcon, and it was a great success. There were multiple times where we were wall-to-wall people […]
  • [Crowdfunding Project] Keyi Store requests Assistance from Monero Community May 25, 2019
    THE SAME INFORMATION HAS BEEN POSTED FOR FUNDING I have posted for Funding regarding this project. I'm open to discussions, critique as well as I'm waiting for you guys to comment. What the proposal is about? Keyi Store is an eCommerce store that has the ability to accept all and any cryptocurrency. The Store is […]
  • Long term XMR / XBT ratio? May 25, 2019
    Hi all, What do you think is the long term ratio for monero to bitcoin? Do you think we are stuck at 0.01 or can reach 0.1 eventually? How is such a thing even calculated lol? Like what gives the arguments for monero should be x % of Bitcoin / coin? Any help with this […]

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What Is Monero ?

Monero denoted as XMR is a decentralised open-source cryptocurrency that focuses on privacy, security and scalability. Monero has cryptographic security features that shields are sending and receive and also amount transacted to be seen by prying eyes of the public. Monero is private, secure and untraceable.

We feel awkward whenever our account officer in a bank check our account details for one transaction or the other, as we think a second party is watching everything about our transactions. Bitcoin cryptocurrency came, and we started jumping up in celebrating thinking that, our financial transactions are enveloped with privacy.
Do you know that your transactions in bitcoin blockchain are viewed by the prying eyes of the public because those transactions exist in public ledger?
A group of people noticed this flaw and founded a cryptocurrency blockchain which the second party can never view transactions. That cryptocurrency is called Monero, and it was launched in 2014 by a team of seven developers.

Three extra features that made sending and receiving money more secure in Monero

Monero implements these three functions in its blockchain, they are:

Ring signatures: This feature shields where the money is coming from.

Stealth Addresses: This feature shields the destination where the money is being sent to.

RingCT (Ring Confidential Transactions): This feature shields the amount being sent.



The Monero’s team consists of seven developers, and five chose to be anonymous. The other two known faces include David Latapie and Riccardo Spagni aka “Fluffypony. These men are security experts and also experienced managers.

Practical Uses of Monero

  • It protects one’s online identity from the prying eyes of the public.
  • It is used for payment solutions.
  • Some banks use Monero’s blockchain platform for transactions.
  • It is an entirely anonymous cryptocurrency that makes people’s wealth private and fungible. Some law enforcement is having a running battle tracing people’ wealth in Monero.

Mining of Monero

Monero uses Proof of Work(PoW) called CryptoNight to mine and fully implements CPU/GPU computational power. There is no ASIC meaning anyone can mine so long as you have the required hardware and the technical know-how. Monero’s mining algorithm reduces the performance gap making XMR more expensive to mine.

You can decide to go solo mining or pool mining. In solo mining, you have enough computational power and payment of rewards comes quickly. In pool mining, there is a little fee attached to it, and there is no much computational power. The good thing about pool mining is that resolution of cryptographic problems comes faster and more blocks are added to the blockchain. The rewards are a little bit delayed.

Whichever method one chooses, mining Monero is painstaking but profitable.

Notes for Investing

Monero (XMR) has maintained a positive showing in the market capitalisation over the last 12 months, becoming a sensation in the market. The stability, privacy and worldwide acceptability Monero are getting has made it, a good investment option. In June 2016, the market capitalisation has increased from $5 million to $183 million while in July 2017.It has gotten to $720 million.

Those who purchased XMR in May 2016, got it less than $10 but today, it is over $100.Investment analysts have predicted that it will hit $200 before July 2018.It is a good investment option considering the cryptographic gladiators backing Monero.


You need to note that, cryptocurrency investment is speculative and unpredictable, and it involves risks. The market is full of uncertainty, susceptible to attack and capital loss. There are many parameters one needs to check before investing. Don’t invest only based on what you have read here, but invest based on the fact that, you have sought advice.
I wish you success!