/biz/ - Business & Finance

Welcome to the Monero General, dedicated to the discussion of the world's leading decentralized p2p privacy cryptocurrency!

Monero is secure, low-fee, and borderless, 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 (hidden tx amounts) ensure that Monero's blockchain is obfuscated -- 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 Monero user willingly providing a view key for a specific transaction.

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 txs 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 May 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.


OFFICIAL WEBSITE - https://web.getmonero.org

WHERE TO GET MONERO?

>KYC:
Binance
Kraken
Bitfinex

>Non KYC:
Local Monero
Morphtoken
Bisq
Kucoin
Tradeogre
Crypto ATMs
see: kycnot.me

>Mining
https://archive.is/TWOah

HOW TO STORE MONERO?

>Desktop
Gui/Cli (recommended)
MyMonero
Exodus
Feather

>Mobile
IOS: Cakewallet
Android: Monerujo
NOTE: MYMONERO FOR ANDROID IS A SCAM. DO NOT DOWNLOAD ON GOOGLE PLAY.

>Cold Storage
https://archive.is/DEfsP

>>27997865
Ah yes. Every incel virgin's favourite coin. They do love to larp as muh anonymuz fight ze goberment

>>27999214
Seethe

>>27997865
Different kind of waifu this time.

>>27999214
Ah, the good old "glad my flag is hidden" poster. Welcome back, don't be so angry.

>>27999214
Nigger

>>27999214
Nah it's the junkie's coin. The biggest DNM now only uses XMR

>>27999497
>>27999606
>>27999636
Have sex, incels.

>>27999717
How big’s the market? Sounds bullish

>>27999815
>have sex, incels

>>27997865
Accumulate. If you do, you will wake up one day and have a pleasant surprise.

>HODLing since 2017
>Still losing, even after recent bull run
>Privacy coins getting banned
>Samefag privatefag coins made me lose about 3k so far
>HODL anon! !1 Privacee will m00n !

>>27997865
exchanged my btc fork coins from bch bsv and so on in 2017. it didnt even do a 5x in 3 years. sold it now. great coin but i need money.

>>28000664
>he thinks PnDs are a good thing for crypto

>>27999214
That's literally every cryptocurrency you retard. "muh decentralized finance end the bankers ze decentralized lending and borrowing"

>bought stablecoin
>REEEE why it wont pump

>>28001133
Checked. This unironically makes it good for trade.

>>28000664
>I want to buy high and sell low

>Literally fell 4y ago for a privatefag Monero fork called AEON.
>Shit been dumped even by former Monero dev that mooned it.
>Was mining that crap for like 2 years, it cost me 1000$ in electricity plus ruined my new CPU/GPUs.
>Then started mining Monero, but it was already too late.
>Bought Turtlecoin, XVG and a whole bunch of CryptoNoteFag algo shitforks.
>Even XRP gave me money, but XMR only crabbin
>Been holding it but I don't know when it will moon.
>Maybe never

I'm legit puzzled on why has it not mooned yet.
It's literally the only crypto that is used as a currency. And it has the best technology of all of them.

People say "It's stable because it's used as a currency, so it has to be stable", but I'm 80 IQ and don't understand the argument.
If it's used to trade for consumer goods, that means there's demand for it, no? Then why does it have a low market cap?

>>28002533
They imply it's getting sold after the trade

>>28002533
for many business that use monero, the only useful part is that its hard to track
drug dealers need to pay their expenses, and the probably have to do it in USD or whatever currency their country uses
they have to cash out, which means a lot of monero being sold, which means lower prices

>>28002533
>It's stable because it's used as a currency
When DNM users are buying and selling monero, they are just placing market orders for the most part. This means that sellers are more likely to find buyers without moving the price much and vice versa. There is a limit to this, but in general it gives monero very good liquidity and a stable price compared to coins of similar market cap.

>why does it have a low market cap?
Simply put, there is very little speculation in privacy coins right now. There aren't even any coins with proper privacy in the top 20 now that monero has dropped out. Dash and zcash, inferior privacy aside, are basically relegated to shitcoin status around number 50 by market cap. It's going to take a proper fungibility crisis in BTC before XMR's value is truly realized. I think monero will grow symbiotically with bitcoin as a privacy tool when atomic swaps come out. Long term, monero won't be massive until governments start forcing miners to censor transactions from tainted coins.

>>28000664
>want a pnd coin
>buy a stable coin

>>28002891
>>28003392
Thanks for explaining to me without calling me dumb

>>28003481
I see, my impression then is that XMR is in a similar position to where BTC was in ~2015 and will only surge in price if it reaches the media.
Thanks a lot!

I can’t speak for other anons, but the US is feeling more and more like a nightmare everyday. Our government is hostile (likely very hostile toward crypto too) and privacy is considered a privilege at this point. They’re also printing a fuckton money. Again can’t say the same for other anons but these are some of the reasons that compel me to hold monero long term.

Even Boomercoin had a better yield than XMR.
Even LINK that everyone laughed at.
Even vaporware ADA.

XMR crab

>>28004064
KEKW

>>27997865
>buy my crypto
>why what’s it good for?
>literally only illegal shit

>>28004109
Crypto regulations are everywhere
>>28004258
Jup, People buy what gets touted. This works until whales dump for a non shitcoin. Many will burn to the ground

>>28004477
Checked. Excuse me, have you ever considered a digital, transparant vault to store value?

>>28004477
>not seeing the value in this

>>28004477
>pic related

>>28004109
You are right anon. The "land of the free" is dead. Adding this to the quoted anon above, Anyone can be considered a criminal, all it takes is enough power.

with it being banned everywhere and xmr.to banned, its utility is sinking pretty heavily for non blackmarket uses.

>>28006663
Officially it is banned nowhere brainlet

>>28006663
>with it being banned everywhere

Everywhere?


>and xmr.to banned

Not sure if retarded.


>its utility is sinking pretty heavily for non blackmarket uses.

The shadow economy is worth trillions of USD. And now the major players are moving into crypto. Do the math.

I was buying some meth today so i had to convert a bit of BTC to Monero through "cake wallet" app so as to use the XMR on a darknet market, the fee converting it through the wallet / some of its third party service was literally around 7 or 8 dollars for 50 worth of BTC., and it took a while too. Maybe i messed something up bad, but if such fees continue Monero is destined to trash

>>28008065
Also monero GUI wallet in both Windows and Linux sucks major ass and is barely usable, disconnects eratically. However i admi the transactions and processed and confirmed quickly, in about 20 minutes max. And fees when sending monero-to-monero are very low.
Still a bitch to buy, so i don't think normans will get into it any time soon

>>28007471
>>28007672
any exchange clearly has to go through extended effort to adopt it to appease regulators, and given how niche monero is for most its not worth or, or outright not allowed.

>Not sure if retarded.
did you even read the blogpost? a bunch of excuses that make no sense, somebody basically told them to shut it down under threat of legal bullshit. so they wrote a weasel word blog and claimed xmr.to isnt even needed anymore.

and most shadow money is just fine in bitcoin where it will stay. monero isn't a store of value it's an altcoin, it has utility.

>>28008065
Atomic swaps have 0 trading fees.

>>28008065
>>28008198
monero definitely has some of the weakest infrastructure. their cli wallet is weak, the codebase itself is a fucking mess. right now its the only decent black money, but it's clearly getting squeezed from all sides. unless you have a need for privacy investing in monero is some low iq shit.

>>28008065
That's a BTC problem anon, are other trading pairs available? Also meth is bad

>>28008248
atomic swaps literally don't exist yet

>>28008398
There are retards who literally think Monero will reach $500 again kek

Neo, XMR, LTC, EOS.. all the same dead shitcoins

>>28008223
Kraken is a US exchange with a banking license and they are going out of their way to support XMR, any "regulatory concern" is the result of exchanges being either misinformed or just not wanting to support it

>>28008065
The fee was on the BTC transaction.
XMR transaction are quite cheap and faster.

>>28004109
Your government will come knocking for taxes on your BTC wallet that everyone can see it. That's what governments do.
Hold an undefined amount of XRM instead.

>>28008065
>around 7 or 8 dollars for 50 worth of BTC
Yes, because you have to pay the BTC transaction fees. Better use LTC and convert that into Monero, exchange costs should then be around 1%

>>28008674
i wouldn't say its a dead shitcoin, but it's time is now, not in the future. the future brings too much complexity around scaling for monero to really bring anything to the table with it's base-layer privacy.

>>28008682
yeah, they had to go out of their way, if it keeps getting squeezed any more then at some point volume will be low enough to not be worth it at all for new exchanges. monero cant compete acting like bitcoin in 2010 in a world where bitcoin doesn't have to.

>>28000148
when day

>>28008223
>somebody basically told them to shut it down under threat of legal bullshit
No. They were told to log IPs and disable access through VPNs and TOR, propably without telling the users. They didn't give in and choose tp pull the plug instead. Better no service than a compromised one

>>28002533
feds are some of the whale holders of xmr, when they catch enough peiple they'll let it moon

>>28009053
>the future brings too much complexity around scaling for monero to really bring anything to the table with it's base-layer privacy
Can you expand on that? What exactly would fail if XMR had higher adoption? The fees? The speed?

>try to short sell it

>>28001133
Ya exactly

>>28009322
It's not a fancy coin with a centralized layer 2 that can scale to millions of transactions. And it doesn't have to be.

Somebody could make a better implementation of what Monero wants to achieve with current research, and steal its use-case.
Ofc the same could be said of BTC or ETH, and it hasn't happened.

>>27999214
fbi jew nigger

>>28009921
It's been stress tested to to thousands of TPS. Dynamic blocks and improved bulletproofs allow it to be adopted for real world use. As long as the volume grows naturally and not all at once.

>>28002533
Because most people are tech illiterate and still believe that Bitcoin is private. Having it as a store of value makes no sense, since it is like having an open bank account. Bitcoin would be great for governments to show transparency, but not for individuals. Would you like the whole world to know your balance and every transaction you make? Once people realize this we will see migration to Monero.

>>28011084

>>28010505
Who's driving new features in the codebase?

Let's say in 2 years everybody will do atomic exchanges, but current Monero is not hash compatible and it's a big downside, or something like that.
How will the protocol evolve?

BTC, for all its problems, has shown that it can evolve with consensus and so it's considered future-proof.
I haven't read about how Monero will handle such cases.

>>28008065
those are the btc fees anon.
monero fees are less than a cent.
buy litecoin to swap next time.
>>28008198
The GUI is pretty simple. What were you having difficulty with? If you are having trouble connecting to a node, there are ways to manually connect to a node to improve your connection. You say the process took 20 minutes max, which is exactly in line with the 2 minute block time, so sounds like everything was working.
>>28008398
the cli isn't weak, what are you talking about? It's smooth and rather intuitive.
>>28009053
>the future brings too much complexity around scaling for monero
It's not like Monero's community wouldn't be working all hands on deck to build a second layer solution if second layers were actually usable and not buggy pieces of trash. And another thing you need to consider is the economics/monetary policy of these second layer solution coins.
>>28009921
> and it hasn't happened.
exactly
>>28011642
Monero is all volunteer based so anons around the world would figure out a way to adapt. Everything Monero has accomplished up until this point has used this strategy. Maybe down the line it might become compromised though, so always DYOR.
>BTC, for all its problems, has shown that it can evolve with consensus and so it's considered future-proof.
Monero's decentralized community is the most reminiscent of Bitcoin in the early days. Even their subreddit isn't shit.

>>28012023
they'll never understand

>>28012188
They'll fomo in once Monero pumps. I think a lot of them understand Monero's potential, but they are scared off by regulation fud.

MUH PRIVACY

>>28011642
Like the below comment said. People will continue driving innovation since it's the most true form of money the world has ever seen. BTC is controlled by blockstream who has ties to Soros and Epstein. Why is this okay? Keeping blocks small has ultimately destroy bitcoin.

>>28013377
>once Monero pumps
Hope it doesn’t : deflation is not good for the market, it makes people holding paper assets in view of future returns

>>28009921
This is the same anon from yesterday who said that Xmr blocks will get to big and there won't be enough miners to "support mining all the transactions". He's retarded, just don't engage with him.

>>28014324
>support mining all the transactions
kek'ed hard

Biggest fucking dogshit disappointment of this bullrun.
You fuckers shilled this piece of garbage as a Top 5 crypto on par with BTC and ETH but this piece of shit can't even hit half of its 2017 ATH.

>b-but MUHHHHH PRIVACY MUH I DON'T CARE ABOUT PROFIT, WE R LEJUUUNN
Fuck off you larping monero incels, this coin is fucking dogshit. Enjoy jerking off to your anonymity while everyone else is getting fucking rich.
Fuck monero and fuck monero holders/shills.

>>27997865
https://m.youtube.com/watch?v=aC9Uu5BUxII
A talk by Daniel Kim

>>28015185
I spy Thom Yorke
>>28014324
kek
>>28015165
buy high, sell low

>>28013377
can you even regulate monero. how?

Ended up wasting 10% of my portfolio on this dogshit cringe stablecoin because of you retards.
Could have dumped that money into literally anything else and I would have been better off.

>never pumps
>dumps whem everything else dumps
FUCK MONERO

>>28015388
have you got this image without George clooney or whoever the fuck this is. nothing shows on reverse search

>>28015508
there is no practical way to regulate a p2p application, let alone a cryptocurrency that specializes in privacy.
>>28015702
what are you talking about? I don't see anything other than the thicc waifu and the Monero logo. Take your meds

>>28015508
>>28015831
Monero can absolutely be regulated. It will just be difficult to enforce those regulations. Most law abiding citizens are willing to work with regulators.

>>28015612
Take responsibility for your own actions.

>>27997865
i regret getting this coin.

>>28016121
Monero does abide by kyc/aml regulation.
When we talk about "regulation fud", we mean that Monero would be "banned", which is implausible based on the legal history of encryption and how government has handled p2p application used for piracy.

my hands are getting weak

>>27997865
monero is for spending, for now. it will always be for selling, buying, etc, because of its tail emission schedule (this makes it better than bitcoin, in the measurement of quarter centuries)
soon .. could be a month, could be 3 years,
THE FIRE RISES

>>28016849
Remember to buy when the market is scared and sell when it gets greedy.

any good exchanges to get xmr?

>>28017464
Kraken for XMR/USD or Coinbase for LTC/USD then exchange w/ cakewallet or changenow.io for XMR

>>28017561
is exodus wallet good for exchanging?

>>28017945
I've never personally used it so i dunno

>>28017945
i used it before, its fine but slow. i personaly buy off hotbit. fast deposits and fast withdrawls. minimum kyc

imagine buying this chart lol

the inflation bug has clearly been exploited and some Chad is dumping it to accumulate more btc

no one will ever find out so this will likely keep going on forever. no amount of buy pressure can overcome the constant dumping.

>>27999214
Monero isn't an investment. It's used for drugs and taxes.

>>28020094
but the USD chart isn't dumping.
That ratio just represents Bitcoin pumping really hard. Monero isn't keeping up...yet.

>>28020237
>taxes
say no more

>>27999214
show your nose

>>28020237
Show your nose

>>28011352

>>28023693
Based

>>28020237
good.

>>28004064
based XMR anons are always here to the rescue
>>28004109
you fucking know it
we're heading to a 1984 future more and more

>>28012023
BASED MONEROBIRB

>>28004109
same in germany, this country is becoming a dictatorship and everyone is cool with it

>>28015185
His presentation is fucking based. Turns out big brains love this project too.

I can’t stop spending my xmr on minecraft

Is there any yield farming for monero? I have an unknown amount, but it pisses me off I can't park it in some DeFi like with ETH and get free money

>>28025365
maybe defi on cardano wont be a meme and someone will tokenize it there
>mfw smart contract platforms get banned when this starts happening

>>28025202
you know you can buy minecraft addons with usd right? you don't need to use crypto

>>28025365
incognito.org gives 13%

>>28027263
Can I trust incognito? Have you managed to take your money out?

>>28027356
I've only tried putting 2 XMR in and I was able to withdraw in about an hour or so.
do with that what you will, anon. I'm not really sure if there are any well-vetted wrapped versions of monero, unfortunately.

>>28026301
Not the kind of addons that anon is buying, unless you want Minecraft’s FBI to V& you

>>28027263
wtf why have i never heard of this it sounds too good to be true

>people are still using boomercoin on darknet
https://www.coindesk.com/russia-and-us-dominate-global-darkmarket-traffic-chainalysis

>>28008065
Those fees are occured when sending BTC to anywhere. BTC is at fault. Monero transactions are literally 0.01$.

>>28008674
Monero will reach 1000$ and more. It might not moon to it but it will reach it given time. Also it is not going away. There is simply no alternative that is truly private. None.

>>28011642
>BTC is future proof.
Given all the forks, disagreements, ... it definitely has more problems then it can handle. Fees are 10$ fucking kek. Also China controls it purely thought ASIC's. Always a great idea trusting China.

>>28020094
No inflation bug just early whales dumping.

>>28029075
lmao did you see the chainalysis blog that article mentions? They don't mention Monero or WHM. kek
link: https://blog.chainalysis.com/reports/darknet-markets-2021-geographic-breakdown

>>28029075
They left out WhiteHouse since they have no idea how much volume it has kek.

>>28029865

what are good exchanges for the US

Is mining with a GPU/ASIC a good idea? Does anyone here mine? what are you returns and how long did it take you to recover from initial investment? t. poorfag

>>28000110
I would never use a coin used by a literal ugly incel anyways. Spagni may be chonky, but at least his hairline isn't all fucked up and doesn't have sideways jaw with pimples.

>>28032044
You can't GPU/ASIC mine Monero. You can GPU/ASIC mine other coins and exchange them for monero tho. Effrium mining is gonna end soon so don't know how profitable GPU mining is gonna be.

>>28032494
why not mine XMR?

>>28032494
I guess maybe I'm fucking retarded so Cryptonight is no longer a thing? Mining Benchmark has it but maybe its outdated. Seems less profitable with a CPU from their benchmarks.

>>28032995
Monero uses the random x mining algo.
xmr stak is often recommended for mining.

>>28033239
so this is outdated? sorry I'm clueless.

>>28033355
Randomx is cpu only
Gpu's should mine eth and then xchange for xmr

>>28033355
yeah. Monero no longer uses Cryptonight.

>>28033851
>>28033767
>>28032494
>>28032921
Thanks. So is there any profit in mining anymore for someone with small amount of capital to start with, basically more or less what I'm asking is how much would I have to drop on a CPU to make it profitable and would it be worth it at all?

>>28034484
No, mining xmr never bought in much Profit. Get into pc gaming and mine on the side

>>28034484
It depends on a lot of different things. You'll have to factor in electricity and optimizations with your hardware.
I don't have a nice PC, so if there was ever a 51% attack I could help mine, but otherwise I get my Monero only by DCAing into the market.
There are some anons who find it quite comfy however, so as a side hobby it could be something to look into.

https://www.vice.com/en/article/8q845p/dea-agent-who-faked-a-murder-and-took-bitcoins-from-silk-road-explains-himself
Read the whole article, pretty interesting.

>>28034484
profitable mining at a small scale was really only for people who mined btc/eth early and held, and at that point its not all that different from buying early and holding

>>28034484
If you have free electricity? Sure. Mining on even a shitty old phone is profitable if you're not paying any bills. Otherwise its a waste of time.

>>28035872
that was a nice read
FREE ROSS

Fellas what do we think of sent

What do we think of sentinel

>>27997900
What does KYC mean?
Kill Your Celf?

>>28028852
I just played with the app. The catch seems to be that rewards are paid in PRV, their native token which isn't traded anywhere.

>>28037378
Know Your Customer

>>28037378
KYC = kill your customers

>>28037378
>Kill Your Celf
kek

its when you have to give your data to the platform, so basically: >>28037714