/XMR/ Monero General

[Anonymous No.20091056]

This daily general is for supporters of the cypherpunk ideology to hang out and help noobies learn about Monero, the most fungible cryptocurrency. A cypherpunk is any activist advocating widespread use of strong cryptography and privacy-enhancing technologies as a route to social and political change.

We believe that Monero is the logical continuation of Bitcoin because it offers superior privacy, leading the way to many potential use cases. Discussion points include rising Dark Net adoption, news articles about Monero, daily transaction totals, and new technology updates to the Monero project.

Moonboy posting is discouraged, however price speculation and TA is fine.

Links:
Overview: https://web.getmonero.org/get-started/what-is-monero/
Daily Transaction Totals: https://bitinfocharts.com/comparison/monero-transactions.html
Mining Introduction: https://web.getmonero.org/get-started/mining/
Merchants that accept Monero: https://web.getmonero.org/community/merchants/
Crypto ATMs: https://coinatmradar.com/bitcoin-atm-near-me/

[Anonymous No.20091088]

The daily transactions chart along with the daily Hashrate chart has me on the edge of my seat.

Something big is about to go down

[Anonymous No.20091093]

Updated transaction chart.

[Anonymous No.20091160]

>>20091093
I don't understand how XMR has this low of a price action while its online precensse is so big. XMR has one of the biggest communites I think third after BTC and ETH. (not counting xrp cause its super horse shit )

So why is the price lagging? and when will it start to pick up?

[Anonymous No.20091163]

>>20091093
Anyone noticing xmr edging up against btc these last few days and pumping right after it dumps
Hoping this is the beginning...

[Anonymous No.20091182]

Can you add LOKI to the pasta?

[comfy anon No.20091191]

Daily reminder that XMR is the currency of the future

[Anonymous No.20091266]

>>20091160
Our daily transactions are still far below Bitcoin and all of Bitcoin's main alts (Litecoin, Bcash). But I agree that we have one of he biggest communities.
>So why is the price lagging? and when will it start to pick up?
It's hard to say, but it probably comes back to the mentality of the Monero community of not talking about price and instead using Monero. Additionally, because the value of Monero transactions is obfuscated, it's difficult to measure how much Monero is being moved around on a daily basis. Thirdly, we have an oversupply of Monero due to our steeply declining block reward.
So all of this is now being supported by long term growth. Which is very good for the community because we are onboarding new users every day on the dark net. I believe we will eventually hit a breaking point where the supply is below the demand and then we will see a significant rise in the BTC ratio.
>>20091191
based comfy anon
>>20091182
no, because it's a shitcoin.

[Anonymous No.20091514]

>>20091266
I actually checked bitinfocharts a few days ago and the xmr transactions amount were the same as the BCH transaction amount. Which is nice.

I do believe that the XMR community is one that is of the "holder types" so when eventually XMR becomes scarce this will make prices shoot up. I know xmr is a game of patience though. I'll just hold my stack and see what happens. if I wanna go gamble on shitcoin pupms or whatever, all these DEFI assets. I make nice profits but I don't understand why people want to hold them.

LEND / KAVA . I truly see no point in the hype for holding these assets. they are tokens on ETH. erc20s. not even technically a cryptocurrency and not even going to be accepted for payments anywhere.

I do think that the smart people in this market milk the mass on these hype pumps and then put it in actually decentralized and fairly distrbuted assets like xmr / dgb / (maybe bitcoin)

[Anonymous No.20091588]

>>20091191
Name one hold that is anywhere near as comfy as XMR
>you can't

[comfy anon No.20091639]

>>20091514
>I do think that the smart people in this market milk the mass on these hype pumps and then put it in actually decentralized and fairly distrbuted assets
How did you know my strategy :o

>>20091588
;)

[Anonymous No.20091693]

>>20091514
Great points.
Yeah you're right about Bitcoin Cash. We had more transactions than then for a 24 hour period in May for the first time ever, but I just checked and over the past couple weeks we have had more transactions than them in a 24 hour period several times. Great to see.
> I truly see no point in the hype for holding these assets. they are tokens on ETH. erc20s. not even technically a cryptocurrency and not even going to be accepted for payments anywhere.
Exactly. This is a criticism that should be applied to any of these projects. Why is there even a token involved?
>>20091639
speaking of this strategy, I think one usecase Monero will have is waashing any sort of profit made with shitcions, thereby preventing the feds from being able to trace your transactions and ask why you aren't paying your taxes (at least in America, you are technically supposed to pay taxes for every crypto to crypto exchange). There is also the "swiss bank" theory, where Monero will act as a haven where you can keep your profits and know that nobody can see how much value you have because of the obfuscated ledger.

[Anonymous No.20091791]

>>20091693
There are many good usecases for XMR. Who the fuck wants people to know how much money is in their wallet when you give them some coins. Swiss bank of the future is probably going to happen. There are a few banks that are secretly on board with cryptocurrency. these banks will be the ones that survive the great purge when fiat currencies tank.

Anyway everytime I check the xmr reddit I read so much good stuff. it's easy to hold.


I'll continue with my strategy trading erc20 shitcoins and profiting on hype cycles and putting the profit in decent profits. I think this is what whales do to.

[Anonymous No.20091810]

>>20091791
>putting the profit in decent profits.
putting the profits in decent assets* (like xmr)

I heard that dude who invented randomx is a genius and commited to xm

[comfy anon No.20091901]

>>20091791
>>20091693
But the IRS still knows that you transferred money to your Monero wallet. If they ask for your view key what would you say?
That you lost your private keys?
That you got hacked?
That you had sent the funds to the wrong address?
That it was a donation/gift?

[Gold back on blockchain? No.20091933]

https://www.coindesk.com/e-gold-claims-us-officials-buried-key-report-in-2008-landmark-crypto-ruling

[Anonymous No.20091990]

>>20091901
>>20091901
>But the IRS still knows that you transferred money to your Monero wallet.

You can easily transfer Bitcoin to a gambling website wash it out into onto another exchange without KYC that supports XMR that way

[Anonymous No.20092046]

https://www.coindesk.com/us-appeals-court-allows-warrantless-search-of-blockchain-exchange-data
Pointing this out again, that this US legal decision says: if the blockchain is public and permissionless to join, then there is no warrant or notification needed to read the data and use it for/against you.

[comfy anon No.20092239]

>>20091990
Wouldn't that still be traceable? Assuming that the gambling service logs transactions.
Wouldn't a BTC mixer/tumbler work better?

[Anonymous No.20092259]

>>20091990
You can also buy BCH anonymously for cash on local.bitcoin.com ; then online you can trade for xmr easi

[Anonymous No.20092267]

>>20091810
Yeah Monero wanted to use the fastest database in the world (by far) and they asked the guy who invented it to have a look at how they were implementing it. The guy was impressed and now he's fully on board with the project. He didn't make randomx, someone else completed that in the end but he spearheaded the concept and helped out a lot.

Also, while working at JPL Labs (the smart part of NASA I think), he saved a Space Shuttle mission from a mid-flight hardware failure by coding a software solution that performed even better than the hardware was supposed to. They gave him a certificate.

[Anonymous No.20092276]

>>20092239
>Wouldn't a BTC mixer/tumbler work better?
Lmao; no

[comfy anon No.20092309]

>>20092276
>LMAO no
Can you at least explain?

[Anonymous No.20092323]

>>20091901
>your Monero Wallet
they don't know that. All they know is that you sent the xmr to an address.
Also, the IRS is only going to get involved once you start making massive payments on things, or if you're sending over 10k to on ramps annually, or if you are cashing out a lot of Monero. If you don't do those things, you can hold and buy stuff online and wait as adoption improves and regulation improves (e.g. inevitable crypto tax reform). I think they will eventually tax it at a flat rate similar to gold. Makes the most sense.
>>20092276
not at all. BTC mixers and tumblers are ineffective against chain analysis.
>>20092046
Bitcoin being a surveillance coin really drives the maxis crazy.

[Anonymous No.20092325]

>>20092267
>Yeah Monero wanted to use the fastest database in the world (by far)
that's amazing, desu

[Anonymous No.20092621]

>>20091901
Lost the key in a boating accident

[Anonymous No.20092809]

The IRS Wants to Know More About Privacy-Enhancing Crypto Coins, Tools
http://archive.is/eyssO

The IRS is having trouble tracking shitcoins like Dash and Verge. They have absolutely no idea where to begin with Monero if that is the case. The feds are probably shitting their pants realizing that these vendors they are monitoring are switching to Monero.
The dark net is going to be fully traded in Monero within 18 months. There is no logical way for people to adopt privacy and then go back to non-privacy. The pearl clutching articles from the mainstream media bemoaning the evil Monero coin will be a huge bullish flag.

[Anonymous No.20093493]

>>20091056
Glad there's at least one cc out there that's got a chance of ridding itself of kikes and glowniggers entirely.

[Anonymous No.20094235]

bump

[Anonymous No.20094392]

>>20092809
It's the elephant in the room as regulators draw up rules on cryptocurrencies, since there's these coins like monero which are designed not to be traced.

[Anonymous No.20095300]

What can't/couldn't be bought with Monero?

[Anonymous No.20095305]

Saw this thread near the bottom so I thought I would give it a Bump

[comfy anon No.20095463]

>>20095300
>What can't/couldn't be bought with Monero?
What can't/couldn't be bought with Bitcoin? ;)

[Anonymous No.20095473]

>>20091056
Anyone have experience selling large amounts in person for cash? In vegas?

[Anonymous No.20095591]

>>20095300
as of this moment, any large assets require fiat.

[Anonymous No.20095963]

>>20095300
rent, but I think that's mainly in first world countries

[Anonymous No.20095983]

>>20092323
>I think they will eventually tax it at a flat rate similar to gold

Crypto already gets preferential tax treatment as a capital asset. You’re literally retarded.

[Anonymous No.20096024]

>>20095983
in the US you are supposed to eat tax on each crypto to crypto exchange. It's confusing for normies and hurts adoption.

[Anonymous No.20096107]

>>20096024
Yeah, like-kind exchanges have been abused for years as tax shelters. The only reason real estate was exempted from the TCJA gutting of like kind exchanges is because they have a powerful lobby.

If you can’t do the math and don’t want to pay taxes don’t trade.

[anonymous No.20096656]

>>20091191
comfy

[Anonymous No.20097319]

bumb

[Anonymous No.20097779]

>>20091191
What is concerning is if xmr takes off, will it be able to scale

[Anonymous No.20097855]

>>20097779
>if xmr takes off,

It already has taken off buddy.
13k+ transactions a day and counting

[Anonymous No.20097902]

>>20097855
but can it scale to btc levels like 300k/day

[Anonymous No.20097929]

Bumperoni

[Anonymous No.20098039]

>>20097902
Yeah. It scales better actually because of its dynamic block size and tail emission.

[Anonymous No.20098155]

>>20092325
What database?

[Anonymous No.20098402]

>>20098155
https://en.wikipedia.org/wiki/Lightning_Memory-Mapped_Database

[Anonymous No.20098739]

>>20098402
There's a lot of smart people working on Monero.

[Anonymous No.20099025]

>>20098739
yeah there definitely are. you should look into arcticmine's comments on scaling. I can summarize if you need.

[anonymous No.20099278]

bitcoin was stunted by allowing for replace-by-fee.
Monero uses a multiplier for fees, not a pre-set fee value.

Due to this Monero can scale very well using zero-conf transactions for small amounts.

Look at how fast the kasisto POS is is: https://imgur.com/a/aLFB3

In-terms of blocks, Monero can scale well due to it's dynamic block size. Transactions fees become smaller as the blocks get larger.

[Anonymous No.20099298]

>>20099025
I think I found who you're talking about. He's got some interesting comments.
"This history is all very interesting. By the end of 2015 I had sold over 99% of my BTC for XMR. The main reason for this was the adaptive blocksize limit and minimum or tail emission. I learned to appreciate Monero's privacy and fungibility only after I was involved with the project. The rest of my BTC were sold before the BCH fork so I never got to experience the BCH side of things."
He seems pretty convinced that adaptive blocksize with tail emission help scaling.

[anonymous No.20099601]

nice find

[Anonymous No.20100538]

is 100 xmr enough to make it?

[Anonymous No.20100616]

>>20100538
Most likely yes, if it goes to bitcoin prices. There's less than 21 million xmr as supply

[anonymous No.20101107]

Still early for Monero, plenty of upside.
Monero is small compared to bitcoin.
And Bitcoin is small compared to other assets.


Your money is much better spent on a solid project like monero than a pump n dump