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  • Help with essay on ethics of Monero December 1, 2020
    Hi All. I have an assignment for a Computer Science class to write an essay on a topic related to legal and ethical issues in computing and information technology. For my topic I chose to write about ethical pros and cons of Monero, or privacy coins in general. It's only 1000 words so I don't […]
  • What is everyone's thoughts on using Kraken as an XMR trading/exchanging service? November 30, 2020
    I'm thinking of using Kraken as a way to buy XMR to put into my Monero wallet. For people that have or are still using Kraken, is it useful? Can I trust that I won't have any issues regarding my Monero being somehow lost? Is it reliable? I realize this a quite a few questions […]
  • Is there a market to exchange XMR directly for physical precious metals and vice versa? November 30, 2020
    Possibly a dumb question I know. But the only thing I could think of (besides coin shops/pawn shops) is offering to sell XMR on LM for gold by mail or in person. Maybe there is some other alternative I have not heard of. I am not interest in trading metals in digital form. submitted by […]
  • Does Monero support scripting? November 30, 2020
    Is it possible to create transactions with arbitrary spending conditions in Monero like you can with Bitcoin scripts (aka 'smart contracts')? If not, what is the extend of 'smart' things you can do with transactions? E.g. Multisig, time locks, hash locks etc. submitted by /u/actionbandit [link] [comments]
  • Can you post arbitrary data on Monero blockchain? November 30, 2020
    Is there an equivalent of OP_RETURN on Monero? If there is, what are the restrictions on the number of bytes? References/Links would be much appreciated! submitted by /u/actionbandit [link] [comments]
  • Today marks 1 year of RandomX November 30, 2020
    not that it means it will hold forever. But a year in crypto is like 10 years in the real world, right? and granted, the market hasn't really provided the financial incentive to try and pwn our mining infrastructure with more asic development, if it even could be done. For perspective, a quick scan of […]
  • What are you thoughs on Breaking Monero series November 30, 2020
    Hi! What are your thoughs on Breaking Monero series? submitted by /u/BlueBloodStrawberry [link] [comments]
  • Online vs offline cold wallets November 30, 2020
    At what value of XMR (ÂŁ/$) should one consider moving from something like Cakewallet to a cold, offline one? submitted by /u/IsThi5Now [link] [comments]
  • What signature does Monero use for multisig? November 30, 2020
    Does monero support M of N multisig? If so is it like bitcoin where it's done using a multisig OP? Or does it use some kind of threshold signature scheme? submitted by /u/actionbandit [link] [comments]
  • Physical Gold <> Monero November 30, 2020
    Please watch this, from start and end if you can Let me know if Monero doesn't scream up to your mind while you watch it. (292) Pomp Podcast #436: Dan Tapiero on Gold and Bitcoin - YouTube submitted by /u/zurih [link] [comments]

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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!