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  • Empty Wallet January 21, 2020
    I created a new wallet earlier using the Monero GUI wallet and purchased XMR from Bitit to be sent to my wallet. I verified that I sent to the correct address, the wallet is synced with remote node but my balance is still 0. The purchase/transfer was 2 hours ago. I used the tool at […]
    /u/AdoreDelaska
  • Exchange January 21, 2020
    Hi i have like 0.51 xmr and want to exchange to euro/ron,lei on my VISA CARD Any traders interested? Any suggestions? submitted by /u/Cuciu255 [link] [comments]
    /u/Cuciu255
  • Need help from Monero Community January 21, 2020
    WooKey team here. Our app got delisted by Google Play, so we communicated with their staff. They replied to us, our app violates the Impersonation and Intellectual Property policy. Before we use a logo here: ​ https://preview.redd.it/wz6ql6g765c41.png?width=173&format=png&auto=webp&s=e1e58c42154085cf678294158ab827c1232ebba1 They told us, our logo is similar like other app's logo, so we change to below picture: https://preview.redd.it/qr0iiy9855c41.png?width=192&format=png&auto=webp&s=3bce6afe9e9187ca468e7752c413e57f4d73458d […]
    /u/WooKeyWallet
  • Monero supply inflation under 3% for the first time! Great news for all the people who believe in a low stock to flow ratio January 21, 2020
    submitted by /u/Gaming_Forever [link] [comments]
    /u/Gaming_Forever
  • My Monero failure January 21, 2020
    I have some experience with bitcoin and after some searching I found Monero is really interesting project. I decided I would like to buy some to my HW wallet Trezor T. So I downloaded Monero GUI and when trying to install it, my antivirus showed there is a virus in it and removed the file. […]
    /u/dr3ex
  • Why Monero Matters January 21, 2020
    submitted by /u/stosonia [link] [comments]
    /u/stosonia
  • UK HMRC open contract for software to trace crypto transactions, preferred if it can deal with Monero too January 21, 2020
    submitted by /u/Hwgttm [link] [comments]
    /u/Hwgttm
  • Anyone here play csgo and want to trade some skins for monero? January 21, 2020
    I have a lot of items and most of them I will be willing to trade here is my inventory link https://steamcommunity.com/profiles/76561198128040862/inventory/ submitted by /u/NiceAccount74 [link] [comments]
    /u/NiceAccount74
  • The Basics of Monero January 20, 2020
    submitted by /u/RedRage04 [link] [comments]
    /u/RedRage04
  • THIS WEEK ON MONERO TALK - 36C3 PART 2: Alexandre Poltorak on privacy preserving KYC & crypto-AML tools and Steve Jain on Bisq's new dispute Resolution System. January 20, 2020
    THIS WEEK ON MONERO TALK - 36C3 PART 2: Alexandre "Polto" Poltorak on privacy preserving KYC & crypto-AML tools and Steve "m52go" Jain on Bisq's new dispute Resolution System. đź“·THIS WEEK ON MONERO TALK - 36c3 PART 2: Alexandre "Polto" Poltorak on privacy preserving KYC & crypto-AML tools and Steve "m52go" Jain on Bisq's new […]
    /u/sunchakr

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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!