Welcome to the Monero General, dedicated to the discussion of the world's leading decentralized P2P privacy cryptocurrency!
Monero is secure, low-fee, and fungible, meaning users can send XMR around the globe despite corrupt governments or broken financial systems. Innovative privacy features such as Ring Signatures, Stealth Addresses, and Ring CT ensure that Monero's blockchain is obfuscated -- In other words, the financial history of all Monero users is encrypted from the prying eyes of adversaries on a public blockchain, with transactions being visible only by a user willingly providing a view key.
Monero has also improved upon the scaling downsides of current popular cryptos. To avoid high fees, dynamic block size ensures that the size of the blocks will increase as the amount of transactions increases. Further, the mining network algorithm RandomX establishes that anybody with a CPU can participate in mining, preventing the ASIC miner domination that creates a high barrier of entry. Lastly, the mining network will be preserved by Tail Emission -- instead of the block reward falling to zero like with Bitcoin, the block reward will gradually approach 0.6 XMR in June 2022, where it will forever stay. This constant linear inflation means the inflation rate will asymptotically go to zero while continuing to provide an incentive to miners to maintain the network.
If you still have questions, feel free to ask and a MoneroChad will be with you shortly.
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Learn more about Monero's key features and excellent future prospects, have some common misconceptions dispelled and discover the cold hard facts about Bitcoin, Zcash and PirateChain. Also featured is a noob-friendly buying, storage and wallet guide.
- added Proof-of-Stake update to Zcash Blackpill - added list of available desktop/mobile wallets - expanded all sections with more relevant info, graphics & videos - added easily linkable headers and sub-headers (link icon to the far right) - added a new section about traceability FUD
>The irrational exuberance of cryptocurrency investors
Irrational exuberance is characterized as a hype-fueled mania that causes investors to massively overestimate an asset's real-world value. In this delusional state, investors tend to become so smitten with expectations of greater profits that they disregard the assets’ potentially weak fundamentals and drink the proverbial Kool-Aid.
This then leads to them recklessly and repeatedly buying into whatever asset is currently rising in the charts, thereby triggering and/or sustaining an asset bubble. This bubble is kept inflated solely by the mass delusion that the market price is justified and will only keep going up in future, effectively becoming a self-fulfilling prophecy. Note that bubbles can last for years, especially in an age of easy investor on-boarding. However, when history inevitably repeats and the bubble bursts that optimism invariably turns into panic as the asset crashes back down to its real-world value.
A very popular parallel that is often made regarding irrational exuberance is how the current state of crypto markets is analogous to the Dot Com Bubble. There are very obvious reasons for this, namely the striking similarity between the emergence of early applications of disruptive communication technology and the massively volatile market that has emerged around the blockchain ecosystem. The recently disruptive trends in the crypto market make the similarities even more conspicuous.
Nobody cares about dark net adoption. Institutional investors won’t invest in a digital asset thats supply can’t be easily audited on an open ledger.
People don’t care about privacy. They change their profile picture to advertise they own 100k jpegs of monkeys. And if they want to transact privately they’ll just use a credit cards, not an obscure internet currency used by schizos and autists.
Face it. You missed out on bitcoin and see something else with DNM adoption and cope thinking it will pump next. It won’t.
What incentive is there for a normie to use Monero? They won’t even use bitcoin because it’s too autistic and inconvenient. But they’ll use something without any easy onramps? You think normies will be using decentralized liquidity pools to pump your shitcoin?
Its over.
>inb4 thanks just bought more, slurping the dipsy!!! HODL! Diamond handerinos! This is FUD!
>it's done nothing in 4 years. I mean, plenty of stuff has happened. There was p2pool back in october, and xmrig for android just came out. This "Haveno" exchange is coming soon. Just be thankful for today! >Nobody cares about dark net adoption. I do, user! >Institutional investors won’t invest in a digital asset thats supply can’t be easily audited on an open ledger. Well, you can just share your view keys if you want. Otherwise it is as about as private as cash. >You missed out on bitcoin We all did, user. But when bitcoin was young, so was I, and a bank account I did not own. I doubt there are many bitcoin millionaires still posting on image boards. The time of bitcoin is over. 7 transactions per second. The likes have you "bitcoin maximalists" have voted with your wallets, and you voted against the bitcoin cash fork, dooming your currency for eternity. >What incentive is there for a normie to use Monero? monero is easier to use than bitcoin. the wallet is separated from the node, so you have mobile wallets like cake wallet or monerujo that just connect over tor to a remote node. You should try it, user. >But they’ll use something without any easy onramps? I don't know, I just bought some from binance. Not that much hassle. Most people buy off localmonero, and many use atomic swaps with bitcoin. >Its over. It has only just begun. Crypto prices will continue fall further and further. It will get a whole lot worse before it gets better. In the end, there can only be one.
>monero is easier to use than bitcoin. the wallet is separated from the node, so you have mobile wallets like cake wallet or monerujo that just connect over tor to a remote node. You should try it, user. wrong, if you have not used your wallet in a few weeks and you have to sync up even using a remote node it will take over 10 minutes. And you cannot even make a tx as it does sync up. That is the biggest thing holding back monero.
Also, I am not going to give a 3. party website my spending keys.
Nicholas Bennett
If that is all it takes to be able to transact privately then I will gladly wait for 10 minutes. You have to put the benefits and drawbacks into relation. It does not make sense to just look at one side of it.
Gavin Ross
I am saying normies do not like that, it cant have that much of a resistance to spend anything. And so they will not buy into it. Compare this to Litecoin and MWEB, where you can just open electrum and send a privae enough tx.
Xavier Barnes
I am familiar with the use-case of mobile wallets. The syncing time is a problem which will be improved over time with tech such as "view tags", but it will also be improved as internet bandwidth and storage capacity increases generally speaking. But 10 minutes is not really that bad considering that in bitcoin it takes 10 minutes for a single block to go through, and you should be waiting for several blocks before a transaction is confirmed. Even in monero you should be waiting a couple minutes for a transaction to get confirmed. >And you cannot even make a tx as it does sync up. Normal users should be prohibited from making transactions while their wallet is syncing. Otherwise all sorts of things will get fucked up. They might panic and make duplicate transactions, they might think that their transaction has already gone through, or that their wallet is drained. Most people are not that smart, they are used to software that belittles them. Sometimes the best thing to do is to just ask them to wait. >Also, I am not going to give a 3. party website my spending keys. Monero has separate view and spending keys. please do some research before posting.
Nicholas Powell
the difference is on bitcoin you can send your tx and then close the wallet as it gets picked up. While on monero you are forced to keep your wallet open and wait before doing that
> Most people are not that smart, they are used to software that belittles them. Cater to the masses or the masses wont buy into xmr and they have not in the past to now
>Monero has separate view and spending keys. please do some research before posting. you need to give mymonero your spending key to spend monero as easily as it would be using electrum on other cryptos
Carter Ortiz
Litecoin's MWEB is a step in the right direction, but for any real chance of obscuring a transaction, well, there is a reason why every monero transaction is now required to be private. there is safety in numbers. Additionally, I am skeptical of the ability of other cryptocurrencies to adapt and improve, in a general sense. Monero is not just about privacy, it is about fufilling all of the goals outlined in the CryptoNote whitepaper.
>the difference is on bitcoin you can send your tx and then close the wallet as it gets picked up. While on monero you are forced to keep your wallet open and wait before doing that That's not been my experience.
>Cater to the masses or the masses wont buy into xmr and they have not in the past to now Monero caters to the masses more than any other cryptocurrency I know of. It is simple, it has a few good wallets, privacy, low fees. It doesn't matter if they invest their life savings into monero, what matters is if they actually use and trust monero as a payment system.
>you need to give mymonero your spending key to spend monero as easily as it would be using electrum on other cryptos I don't know what you're talking about. is MyMonero some sort of custodial wallet or something? What does this have to do with view keys? You don't need to give out your mnemonic seed or spending key to provide transparency, e.g. in the case of some sort of legal or financial dispute. That's all I'm saying.
Charles Lee
give me one reason i shouldnt rotate my whole XMR stack into WOW
