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  • Ripped this page out of the book “Michelangelo” years ago, wasn’t until today that I made an oddly familiar connection.. May 16, 2021
    submitted by /u/CantGuardMe1 [link] [comments]
    /u/CantGuardMe1
  • Is there a Monero shortage on exchanges May 16, 2021
    Hi I think we might have a shortage of monero on exchanges. Binance is by far the most used exchange for monero. Since few days people report issues retrieving their xmr from binance and binance claim is due to network congestion. But there is no such error on the monero network. So this can only […]
    /u/kwadoss
  • Cheapest and easiest way to acquire Monero May 16, 2021
    Simple question for a newbie: what's the best way to acquire Monero? There doesn't seem to be a straight answer to this from what I can find on google search. submitted by /u/jafarsaeed [link] [comments]
    /u/jafarsaeed
  • Cake donation to the Monero general fund May 16, 2021
    Hi All, we (Cake Wallet) just donated to the Monero general fund! Cake Wallet wouldn't be anything without Monero and Monero community. (Proof sent to Diego) We will be making a second donation along with ChangeNow. If you are benefiting from Monero, please consider donating as well. Cake Wallet submitted by /u/cakewallet [link] [comments]
    /u/cakewallet
  • Binance Monero withdrawal is down for maintenance May 16, 2021
    submitted by /u/SpaceSail [link] [comments]
    /u/SpaceSail
  • Skepticism Sunday – May 16, 2021 May 16, 2021
    Please stay on topic: this post is only for comments discussing the uncertainties, shortcomings, and concerns some may have about Monero. NOT the positive aspects of it. Discussion can relate to the technology itself or economics. Talk about community and price is not wanted, but some discussion about it maybe allowed if it relates well. […]
    /u/AutoModerator
  • I need advise May 16, 2021
    I need some advise. I used to run a Monero core wallet but more than a year ago the wallet stopped synchronizing because my virus protection blocked it. Now I would like to access my Monero holdings in this wallet. Can someone here advise me on a good and simple Monero wallet that will accept […]
    /u/jansma43
  • Unpopular opinion : A monero stablecoin with faster transactions would be a great candidate for the "money" of future. May 16, 2021
    This is just an opinion. Stability will make it a store of value medium (one of the three properties of money that unstable coins don't have) and faster transactions would allow real time transactions thus make it ideal for the future decentralized payment system (DPS) candidate. submitted by /u/jisyourfriend [link] [comments]
    /u/jisyourfriend
  • CryptoSSL (Coming Soon) Buy SSL/TLS Certificates & Code Signing Certificates with Cryptocurrency! BTC/BCH/ETH/LTC/XMR May 16, 2021
    Greetings! CryptoSSL - https://cryptossl.net (coming soon) We are offering some excellent deals on SSL certificates & code signing certificates. Best of all, you can pay with your favorite cryptocurrency. Let's Encrypt & Cloudflare pretty much have the market cornered with SSL certificates, but if you want an EV SSL certificate (green bar in browser) or […]
    /u/CryptoSSL
  • Lost a single word in my recovery seed May 16, 2021
    https://www.reddit.com/r/Monero/comments/j4pgm6/lost_a_single_word_in_my_recovery_seed/ Asking again for help on recovering my wallet. I'm missing a single word in the middle of a 25 word recovery phrase. I know the exact spot but the only resources I have is the words. Nothing else no public key no past transactions only the seed. I'm not familiar with XMR but based […]
    /u/Expensive_Border_463

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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!