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  • Did Safedice.com exit scam November 16, 2018
    I have some xmr on there. Was on the recommended companies on getmonero.org. They have not upgraded to v8 and hotwallet is empty. Anyone in touch with them? submitted by /u/Nuketown2021 [link] [comments]
    /u/Nuketown2021
  • Step-by-step guide for the GUI wallet now translated in French! November 16, 2018
    Online version: https://github.com/monero-ecosystem/monero-GUI-guide/blob/1.5/monero-GUI-guide_fr.md   PDF and epub: https://github.com/monero-ecosystem/monero-GUI-guide/releases/tag/v1.5   Thanks el00ruobuob for the translation and Assylias for the review   More info about the guide: https://github.com/monero-ecosystem/monero-GUI-guide submitted by /u/ErCiccione [link] [comments]
    /u/ErCiccione
  • Can't connect CLI to Monero Daemon after fork. "Error: wallet failed to connect to daemon: http://localhost:18081." November 16, 2018
    Things that have changed: 1.I manually set my DNS to my VPN's DNS servers on Ubuntu, in order to get the VPN to work. I am contacting them to ask them for help on how to get default DNS settings back. 2.I have downloaded v0.13.0.4 and synced the daemon with that, migrating from 1 to […]
    /u/mym0ner0proble0m
  • Testcoins November 16, 2018
    Can someone Provide me an Page where to get some test coins? or maybe send me some? A4kUeE5iUnb1ne3aaCTBKp3PUYCVYUKRiLHyYcENjarz6mzFbeUrdEHRj95FMkh7rMbmUiV99dRK5MyAqviHX2zcbhvKyKexoqsTqirodn submitted by /u/Pascal_muc [link] [comments]
    /u/Pascal_muc
  • /r/Monero Daily Discussion – November 16, 2018 - Use this thread for basic questions and if you're new to Monero November 16, 2018
    Index General questions Wallet: CLI & GUI Wallet: Ledger Nodes 1. General questions Where can I download the Monero wallet? There are multiple Monero wallets for a wide range of devices at your disposal. Check the table below for details and download links. All wallets listed below are open source. Attention: for extra security make […]
    /u/AutoModerator
  • Running Monero nodes, local and remote November 16, 2018
    submitted by /u/SHPCoins [link] [comments]
    /u/SHPCoins
  • Monero hashrate bouncing around a lot November 16, 2018
    Hi there, Monero is very much incentivizing "hashrate attacks" with its 720 block adjustment time. And it appears to be happening every other day or so for the past couple months (+-15%). Is there a plan to prevent this? Currently they mine blocks about 15% faster that way and then they stop mining when diff […]
    /u/MoneroCrusher
  • Monero Transaction Exporter CSV November 16, 2018
    Anyone needing their transactions in csv format, can utilize this tool: https://github.com/tiedtoastar/monero-etl submitted by /u/TiedToAStar [link] [comments]
    /u/TiedToAStar
  • I opened port 18080 on my Monero node, to support the network, now I have a hacker from Russia November 16, 2018
    He's transferring 30 KB/s, There is no PID and his port is in the 40000s. How can I know is this a hacker or a leacher? submitted by /u/gdlxmr [link] [comments]
    /u/gdlxmr
  • Monero Outreach FFS Funding Required November 16, 2018
    Thanks to our contributors so far! We still have a ways to go, so please take a look at what we are proposing and consider chipping in. The Monero community is stronger with all of us. https://forum.getmonero.org/8/funding-required/91054/monero-outreach-round-2 In case you don’t want to click the link: A big thanks again to everyone who supported our […]
    /u/xmrhaelan

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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 TEAM

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.

MUST READ!

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!