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  • recourse for falling prey to scam September 24, 2022
    very very long complicated story, but so like a freaking dumbass i fell for this scam (with a bunch other people) sending funds to someone to purchase some collectibles. i paid for mine via xmr. obviously one of the the whole points of xmr (which is more good than bad) is to protect privacy. but […]
  • It’s time to use Monero! September 24, 2022
    submitted by /u/SaoDanmachi [link] [comments]
  • monero hashrate September 24, 2022
    I'm extremely new to all this mining, and was wondering what is considered a good hashrate, just doing some tests to see what it's like, and without over clocking I was able to get 3.7KH/s , is that good? submitted by /u/loki0961 [link] [comments]
  • Differences between Zcash... September 24, 2022
    Edit: Woah! Thank you everyone. Very articulate responses. Will read thru them all slowly. I'm down in the rabbit hole of Monero mining and love how unprofitable it is, in order for it to be more principled. And CPU mining is wild. Although it would be nice to prevent pooling to further democratize and decentralize... […]
  • Mining Newb Question September 24, 2022
    Hi all! Crypto OG since 2016. I'm wanting to get into mining Monero and honestly don't know where to begin. Does anyone have reputable sources for this? I understand the basics of mining... but don't know anything about which software to download, which rigs to buy and how to run it all. I'm here mostly […]
  • [CCS Proposal] - Seraphis development by dangerousfreedom September 23, 2022
    Hello everyone, I have opened a new CCS proposal to start contributing to Seraphis and I would like to humbly ask for your support (thumbs up on gitlab and/or donations if approved). I believe I have personally built a considerable amount of knowledge regarding Monero with my past project ( moneroinflation ) and I feel […]
  • HCPP 2022 September 23, 2022 I have one ticket to HCPP. I can sell it to somebody. Price bellow spot ( submitted by
  • Monerod && p2pool && xmrig && monero-wallet-cli Install Video Guide September 23, 2022
    Hi all, Text version: Video Guide: Better late than never, but I finally got my video guide done on installing all 3 of the required Monero software and the wallet-cli to get you setup and running with your own Monero setup if you want. Let me know what you think. I am just […]
  • Join us EARLY tomorrow for a LIVE chat @ 8AM-EST/2PM-CEST for a LIVE morning Monero chat w/ Report, special guest WillPower of PAY ME IN #MONERO music video & MORE! September 23, 2022
    Join us EARLY tomorrow at 8AM-EST/2PM-CEST for a LIVE morning Monero chat with u/DouglasTuman, u/sunchakr! Report w/ u/aFungible, special guest WillPower of PAY ME IN MONERO music video 🎤🎶 & MORE! JOIN US ON STAGE HERE ➡️: WATCH THE SHOW HERE via YOUTUBE ➡️: WATCH THE SHOW LIVE HERE via TWITCH ➡️: […]
  • Best Monero wallet September 23, 2022
    Hey guys. I'm a long time Monero holder, yet I've always just used exodus to store my coins. I need some advice as I've now decided to use a hardware wallet to store and secure my coins. Which wallets would you recommend to me and why. I don't mind if it's more advanced as I […]

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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!