/biz/ - Business & Finance

I’m out, as much as i like XMR the FOMO is too much.
Selling my whole bag, will buy back in at the end of the year, doubt the price will be much different and it will give me funds to throw at shitcoins.

>>28345500
Do it faggot

>>28345500

>>28345500
can't wait for this to moon right after

>>28345500
Unironically buying because of this post.

What's the dowry stack?

>>28346300
It's a great coin and probably the only one with any future. I suggest you look into it if you haven't already.

> t. cybersec wagecuck

i have a decent amount of eth and btc, but xmr is hands down my favorite most comfiest hold, i love this lil nigga.

>>28346999
An unknown amount! You may try to ask her mom, though.

>>28347471
yes! I'm never selling this bad boy

>>28346999
>not posting the bbw alt

ngmi

Is it still worth it to mine XMR or do I have to buy at this point?

>>28347781
It's ASIC resistant, so as long as you have cheap electricity prices you're just as good as everyone else. Also I head a lot of people mine not for profits but just to keep the network decentralized, kind of like TOR.

>>28347944
Interesting. I’m partial to mining because it’s a great way to get around the problem of KYC from exchanges, but I’m worried that I’ll run the computer for a long time and end up with, like, a few cents worth.

Do you mine? If so, do you have any tips? Solo/pool, communities, etc.

>>28348170
Nah I only have a laptop so it would be pretty painful for me to run a miner.

As for the KYC you should consider that XMR transactions are completely untraceable. Once you send it out of an exchange that money is effectively gone from the radar and nobody besides you even knows if it exists anymore.

One of the million reasons I love this coin

I almost never use /biz/ ever since 2017 let all the retards to this place.

I have a couple of questions for the XMR community before I'm willing to exchange a significant stake of my bitcoin dominated portfolio over to XMR.

First what are the stores that I can spend the XMR? How could you find the .onion links to actually use and spend your XMR?

What are the transaction costs of XMR? If I want to exchange 1 XMR right now with some drug seller how much would the cost be and how long would it take to clear the transaction?

How viable is it to mine on standard CPUs? making it so normal people can mine reduces risk of centralization.

Last but not least can I purchase large amounts of Monero on KYC exchanges and then transfer it to a private wallet and still have it be private? This enlarges the utility for average buyers of the currency.

I know XMR isn't going to moon any time soon but I see this as a long term investment as I think there is no actual suitable currency out there since bitcoin lost that role in early 2017 due to excessively high transaction fees.

Hi MoneroChads, I am looking to build a blue chip crypto portfolio, half dozen or so coins that I can DCA into with my income every week and then cash out in 5-10 years and hopefully retire. Currently interested in BTC and ETH of course, but I hear XMR is also a good long term play right? Any other recommendations?

>>28347944
solo miner here running 3 desktops and one laptop on electricity i’m not paying for
also host a public node

>>28349097
You should spend the time googling these instead of trusting randoms on biz, but I already answered some of your questions in >>28347944 and >>28348611

>>28347773

>>28349864
I know but search engine results are unreliable nowadays and most of the articles posted have pro or anti currency bias.

My alternative to posting on here would be to go to reddit which I don't use out of principle (not truly anonymous)

Also you can't find tips for finding the 2021 equivalent of silk road on surface internet and I'm rusty in this regard.

>>28349398
the government hates monero, make of it what you will.

>>28349097
dark.fail
Transaction times are 6 minutes unless someone wants multiple confirmations. Fees are less than a penny usually. Mining is profitable with decent electric rates and a 14nm or better CPU. It's digital cash. The only thing a KYC exchange will know is how much you buy and the one time address of your personal wallet. As long as you aren't retarded it's very easy to use.

>>28350226
dark.fail

>>28349097
Drop a couple of hundred on XMR on chosen exchange NOW you might have more to buy some ket with later.
>>28350766
This guy knows his shit, follow him.

I have a question myself, does this path seem correct?

Exchange wallet > GUI/Cake wallet > marketplace wallet??

>>28349398
Monero may or may not moon in the next 10 years. What I can say is that it's the only coin that could survive in it's current state and niche indefinitely. Bitcoin still needs work to scale, and the fee market security model is questionable. If defi doesn't keep progressing, ETH is just a cool toy. In that way monero is the most secure crypto in terms of investment. It serves a need in society, not a want, and it's the best tool for the job by a wide margin.

>>28351271
That's as safe as you can get. You could probably get away with transferring directly to the marketplace wallet if the addresses are single use.

>>28351271
>Exchange wallet > GUI/Cake wallet > marketplace wallet??
Yup that's all there is to it. You have to wait 20 minutes between transactions, so if you are moving a lot of money around it's good to keep some in the GUI/Cake as float. It's one of the only downsides to monero imho, and it's necessary for security. If you have 1 XMR in your account and you send 1 more from an exchange, the first one remains spendable, but the second one will be locked for 20 minutes.

>>28351756
That's bad opsec anon. Fees are a penny for god's sake. Don't get complacent.

>>28345104
WallStreetBets backup discord: DjurEMPe

>>28352173
You're probably right. Would be interested to learn what could happen if you transferred directly.

>>28349097
>First what are the stores that I can spend the XMR?
Here are a list of merchants: https://www.getmonero.org/community/merchants/
Obviously its still early but there are some cool stuff on there. I buy my vpn on there and I am using Travala this upcoming summer to book a trip.
and remember: you can always coinswap to Bitcoin using a nonkyc service if they only accept Bitcoin.
>What are the transaction costs of XMR?
Less than a cent. And contrary to Bitcoin, they won't go up over time because of dynamic block size.
>how long would it take to clear the transaction?
It takes ~2 minutes for a transaction to be included in a block, but 20 to be fully confirmed (there are ten confirmations needed).
>How viable is it to mine on standard CPUs?
It depends on what you mean by viable. If you have a decent computer and you run it 24/7 you can make a decent stack over time, but its easier to just buy and hold. I don't recommend mining unless you view it as a hobby that you might make money from.
>Last but not least can I purchase large amounts of Monero on KYC exchanges and then transfer it to a private wallet and still have it be private? This enlarges the utility for average buyers of the currency.
If you move Monero off of an exchange, the exchange will have the information that you sent x amount of Monero to an address at a specific time. But that's all they would know. It's like withdrawing cash from an ATM. If you are a target, there can be attacks used against you, so if you have a higher threat model study Monero and improve your opsec (I recommend "breaking monero")
>>28349398
Those are the three best long term investments.
Monero is the most undervalued of the three, however.

>>28350226
>reddit which I don't use out of principle (not truly anonymous)
ironically, you can use reddit fully anonymously (tor and burner email) but you can't use 4chan anonymously. both the feds and google know exactly who you are if you post on here. the closest you can get to anonymity on 4chan is to buy a pass so you can use a vpn, but even then the btc trail is probably traceable back to you and the vpn doesn't guarantee. i hate reddit but just putting that out there.

>>28352058
Can you explain this a bit further? Especially the locking of your XMR for security reasons
>>28352173
How are the transaction fees calculated? Might it increase in the future like what happened to bitcoin or does monero have saveguards to keep transaction fees low? What has the history of the transaction fees looked like?

>>28352404
I don't understand... no one can see a transaction's origin.

>>28352762
If the exchange sends it, they know where they sent it to.

Do I really need to verify the wallet download from the getmonero website? What are the chances of something being in there?

>>28351756
>>28352058
Thanks both

Advisable to use cake as a storage, even if short term while I figure out my next steps?

>>28345500
Smart, I got out of this cult 2 months ago and have since 3xd my stack while they bleed sats lmao

>>28352922
>If the exchange sends it, they know where they sent it to.
but again, the receiver of the NEXT transaction you make from that wallet has no idea if you hopped once or not. Seems like a waste of a transaction fee/time.

>>28352926
Fairly low, but the difficultly of checking the hash is even lower. It as simple as typing sha256sum filename. The website was hacked once in the past and used to distribute key-stealing wallet software. Always better safe than sorry, especially if being safe is such a trivial, trivial step.

>>28353075
transaction fees are like a tenth of a cent

Why so many monero threads?

>>28352655
Transaction fees won’t increase because of dynamic block size.
The blocks will get bigger if there are more transactions.

>>28352404
If the site is compromised the results could be disastrous. SR1 and 2, Hansa, and Dream all ended with feds in control. I know for a fact Hansa and Dream continued faux operation under fed control as a honeypot for a few weeks. Imagine using bitcoin and the on marketplace encryption services at those times. It's a slam dunk case and there is absolutely no plausible deniability. I'm not saying you need NSA level opsec, but don't be an easy target. Using dark markets is one of those things where you can be lazy or a veteran, but probably not both.

>>28353344
thanks anon, was thinking about the same scenario

>>28353075
If the receiver of the transaction is also an adversary, and the exchange and the adversary are colluding, then you give an exact transaction to trace what you did.

https://www.youtube.com/watch?v=aC9Uu5BUxII

from some monero fud thead, this is pretty good

especially for stupid niggers like myself

Does anyone have a graph or something of transactions made with monero over time? I want to see if the amount of transactions rise over time which I assume it does if its actually used as a currency.

>>28352553
Yeah I meant philosophically. I'm not stupid enough to consider anything on the surface internet to be untraceable. But you can't even discuss .onion stores on the monero subreddit and they all pretend that monero isn't used for illicit activities.

>>28353252
People like me are trying to diversify their portfolio for the long-term after the current boom subsides again somewhat. Monero holds long-term potential as it's the only cryptocurrency with a real world usage (defacto standard for illicit internet commerce)

>>28353255
I heard the upper limit for bitcoin was 7tx/s and about 1000tx/s for monero at its largest. Is this true or is the scaling unlimited/voting based. If Monero completely replaces bitcoin in the future will the 1000tx/s be enough to keep fees reasonable enough to not make monero another "store of value" instead of private money actually used by people?

I see a whole lot of you talking about opsec while discussing darknet activities on a public forum
Information is not illegal but stay sharp boys

>>28353965

Nigger, watch the fucking video

>>28353765

>>28353765
This vid should be pinned on every XMR post

>>28354095
>going on the darknet
Whatever do you mean, anon, we’re just cryptography enthusiasts excited about the newest developments in anonymized P2P Internet money!

>>28355222
Me too cypherpunk 4ever and I'm gonna fuck Monero chan one day and I love all you boys

>>28345500
>price is under 200
>”FOMO is too much”

Literal subhuman IQ

>>28354507
I think I’m going to add it to the OP and label it as “XMR REDPILL” or something
>>28353965
> If Monero completely replaces bitcoin in the future will the 1000tx/s be enough to keep fees reasonable
Monero fees will actually go down long term.
Bitcoin fees are high because they have hit their cap for block size. So a fee market develops — the higher the fee the quicker the transaction.
With monero, if there are more transactions, the blocks just get bigger. The fees wouldn’t go up because your transaction will still be included in the blocks. So the scaling problem that causes high transactions for Bitcoin and Ethereum are solved by Monero.
The trade off is that blocks can get bigger over time and syncing the blockchain will get longer and require more space. But we believe that improvements in technology will outpace this concern.

>>28345104
Is 20 enough to make it??

>>28352655
>Especially the locking of your XMR for security reasons
I'm not a dev but I've seen some anons here with that level of knowledge before, so hopefully they will correct me if I make any mistakes. In short, it makes reorganizing the blocks for a double spend impossible (assuming nobody has a majority hashrate), and it makes poisoned output attacks statistically impossible. If a three letter agency controls 70% of all transactions in a block, they could deanonymise your transaction with 4% accuracy. That is still plausibly deniable for sure, but monero devs strive for perfection. The delay in transactions makes these kinds of attacks both statistically and logistically much less effective. This kind of attack is a weakness of RingCT, but it should become much less effective when Triptych is implemented. We could see very large ring sizes in the near future, which make this attack impossible for all intents and purposes. Fingers crossed, we will see a decrease in this limit when it's implemented if mining centralization improves, but that's another rant.

>>28353040
Cake is open source and trusted by the community.

>>28345500
its alright anon, XMR is for being used
I'd give it a month before approaching at 200 tho (maybe less)

>>28346999
I want to put a ring signature on that

I found a transaction chart. This is why I think Monero is a sound long-term investment.

https://bitinfocharts.com/comparison/monero-transactions.html

The graph shows a steady adoption and actual usage of Monero as a money over the blockchain. Not merely in exchanges between different users but as an actual currency for buying goods and services. Can any other cryptocurrency claim the same nowadays? BTC could in the past but I doubt there is any other crypto that is truly getting used commercially.

>>28346999
An unknown amount.

>>28353965
>I heard the upper limit for bitcoin was 7tx/s and about 1000tx/s for monero at its largest.
This is true for bitcoin but not for monero. The biggest scalability issue for monero is cost of storage for the blockchain. There is theoretically no tx/s limit, but in it's current state, the monero blockchain would grow by 22TB over 10 years running at 1000tx/s. That would severely centralize monero nodes, even with RPC pay offsetting a good portion of the cost. With pruning or some other clever solution, monero could easily scale to 2000-5000tx/s, considering starlink will make fast internet access available basically everywhere.

>>28352553
yep, 4chan is a honeypot

>>28358155
22TB will probably be pretty cheap in 10 years

>>28346999
Comfy trips

>>28355592
He was talking about FOMO on the defi garbage that's currently pumping, not XMR. The subhuman IQ is yours.

>>28355865
20 is usually considered to be about the suicide stack by people on here.

>>28358155
22tb can currently be had for $500-ish, it's really not that large. In 10 years it will be easily affordable to nearly everyone.

>>28355865
i saw someone say 100 suicide stack... im trying to get therebut its pumping and im only at 53

do people actually invest in xmr or just use it to buy... goods?

>>28360016
I do both.

>>28350766
>6 minutes
What? Block target times are 2 minutes so average time for one confirmation should be that. Also Monero is hard to double spend so any low value tx can be 0-conf no worries. It would take 10 blocks so roughly 20 minutes before the XMR would be spendable by the drug dealer. That's a network rule.

>>28350226
I agree. Anything remotely official is completely pozzed these days it's insane. Only option is finding places with a decent concentration of smart people and sifting through what they have to say.

>>28353765
Just finished this. Very good video that addressed most of the things I wanted to know. Although he didn't go into other aspects that needed to be adressed.

My top 3 unanswered concerns I had after finishing this video:
>What are the regulatory risks of Monero as a currency due to its privacy focus?
>What makes Monero more likely to compete against future Monero clones or other privacy coins (Zcash and Dash are both a joke after some basic research, but still)
>What prevents other coins like Bitcoin from implementing "monero features" on a 2nd layer basis to compete with Monero once it starts seriously threatening BTC as the defacto standard cryptocurrency?

>>28345104
>mfw I got priced out of XMR
I am never gonna make it

>>28363062
XMR is 1 wave behind bitcoin anon... Keep that in mind and keep stacking.

>>28364393
I am trying to flip my shitty reef stack, if I make 100 out of my original 20, I will put it in XMR, and I will have enough to buy 1, I have also been mining for weeks

>>28362273
>regulatory risks
Unironically extremely low. It’s the same fud bitcoin previously faced. Feds can’t actually ban it so they just fud it to prevent consumer interest.
>other privacy coins
Monero has the network effect in privacy and 7 years of trust in the market. The Dark net chose it for a reason.
>2nd layer solutions
They don’t exist yet and they wouldn’t fix base later privacy issues.

>>28364947
Layer*

>>28364947
Was BTC ever banned from exchanges?

it's been 30 mins & my avail balance is still lower than my full. wtf?

>>28359223
Ya I'm not worried about the blockchain size too much. I'm sure that much storage will be affordable when it's relevent. Monero still hasn't broken .5 of a transaction per second.

>>28360831
You are correct. 3 confirmations are pretty standard, I didn't word that comment well at all.

>>28363062
it's not too late anon, still well below previous ath in both usd and btc terms. it's one of the most obvious plays out there but is ridiculously fudded right now so you have to be a bit patient

>>28362273
> regulatory risks
they got a law firm (a real biglaw one, not a shit one) with crypto expertise to assess the regulatory risk and they determined there are no clear barriers. kraken is going to allow direct ach transfers soon to monero (w/ kyc)

> clones
just like any other project, it's mostly about momentum and network effect. monero has the third biggest dev community in all of crypto and an extremely active github (higher than ethereum).

>2nd layer
btc development is so slow-moving that i doubt this would actually happen. atomic swaps will likely happen first which would make monero the anonymous extension of btc (under active development by at least two parallel teams currently)

This coin sucks, 20 mins of unspendable money? How the fuck is this even called money. BSV and nano are better and faster forms of money, next.

>>28349541
How do you not pay for electricity?>>28347944
I mine to support the network, my computer is new and my electricity is somewhat cheap so it’s not like I’m losing money.

why doesnt it turn on?
>f2pool url
>username

>>28369356
>they got a law firm (a real biglaw one, not a shit one) with crypto expertise to assess the regulatory risk and they determined there are no clear barriers. kraken is going to allow direct ach transfers soon to monero (w/ kyc)
also grayscale filed for monero apparently, and here is the link to the report I'm assuming you're talking about in case anyone is interested
https://www.perkinscoie.com/images/content/2/3/v7/237411/Perkins-Coie-LLP-White-Paper-AML-Regulation-of-Privacy-enablin.pdf

>>28354095
This. But it doesn't apply to me, i just LARP about all my darknet activities.

>>28354095
Obviously no one here is dumb enough to engage in criminal activities. We're just interested in understanding it out of intellectual interest, in relation to how it might affect the development of Monero.

>>28370346
Never heard of f2pool so maybe it's different, but on every pool I've ever mined to, your username is the address you wish to be paid out to. Do you have the port correct in the url? Have you tried it without specifying the protocol?

Perhaps the most important question, why are you even trying to mine on a phone?

>>28362273
>>What prevents other coins like Bitcoin from implementing "monero features" on a 2nd layer basis to compete with Monero once it starts seriously threatening BTC as the defacto standard cryptocurrency?

Can't be done, top-down optional privacy can never compare to bottom-up default privacy, even the rational Bitcoiners admit as much.

>>28372455
can be charged by renewable energy from laptop, thsnsk

>>28346999
Make it stack formula 1 mil/price target
Suicide stack formula 100k/price target

Yr smart anon u figure it out

I wonder if Monero could stop storing the whole blockchain. This would increase privacy and solve the rapidly growing chain size. Grin does this but the whole implementation is probably quite different.

>>28374171
Where do these numbers come from? Asking for a very turned on friend

>>28375626
>Where do these numbers come from? Asking for a very turned on friend

Projected future XMR value. The general expectation here is that criminal and underworld adoption of Monero will gradually inflate its market cap and eventually push its price into 5 figures, potentially six.

So, if we're going to be conservative, the lowest 5 figure price is $10K. If $1 million is your cash-out goal then you'll need 100 XMR to make it.

>>28345500
buying your bag rn

>>28345104
Monero is a government honeypot, use 0xMonero

>>28378116
nope. 0xmonero is still vaporware bullshit
just like the last hundred times you spammed it
stop trying to steal from people by lying to them about the capabilities of the project
https://www.reddit.com/r/CryptoMoonShots/comments/i27fhk/0xmonero_summary_of_findings/
>>/biz/thread/S24750658#p24755504

>>28378116
>>28378284
I only open these threads to watch you two do your thing.

>>28354095
i'm just retarded and buy cause the hot anime girl and it has my second favorite color scheme.

>>28378729
What's your third favorite color scheme?

>>28346300
peak despair, just like the meme chart prophesied

>>28369737
BSV block times average 10 minutes so minimum time to receive and send again would also average 20 minutes, retard. And given the variability of blocks it would often be over an hour.

>>28379897
probably dark cherenkov blue and black

>>28381059
here u go anon

>>28383143
How do we get artists to commission more monero-chan art? That would drive up the price of XMR significantly.

>>28384029
by paying them usually.
if you hold more than 5 figures XMR commisions a dozen pics and a few hentai images would unironically be good idea.

>>28380925
>BSV block times average 10 minutes so minimum time to receive and send again would also average 20 minutes, retard
BSV transactions are instant because of 0conf

>>28345104
hey new to monero, a question. How do we deal with 0.6% inflation since 2022?

>>28349541
based
>>28347944
can confirm, not mining on a laptop just hosting a local node

>>28385618
XMR is 0conf too but you can't spend a 0conf, retard.

Was able to buy about 20 XMR from my pre-KYC kraken and binance account but to deposit new funds I needed to KYC-check. Any other way to increase my holdings without going through such a check?

Any personal experiences with Local Monero here?

>>28385862
no need to "deal" it was designed this way to help support the network
fixed inflation is good

>>28385941
BSVtards are mentally handicapped don’t bother

>>28364947
i don't really understand, wouldn't the feds actually want XMR on exchanges so they could have some visibility and control over it because like 95% of people use centralized exchanges

instead of trying to ban it, they should try to have it on exchanges

>>28353055
>and have since 3xd my stack
no you dont, larping faggot

>>28386181
BSV = Bitcoin Scam Variant

>>28386174
wont affect the price? is mining with a ryzen 3600 while background work worth it? (4,5kh~)

thanks for the answers frens

>>28385862

When the Monero tail emission begins in mid-2022, the annualized inflation rate of XMR will be 0.9%.

Since Monero's tail emission is linear, the annualized inflation rate will forever decrease towards zero starting from the initial 0.9% rate.

>>28386551
>>28386551
ahhhh ok i get it, like fiat currency but with a fixed rate instead a "pump whatever you need" meme

thanks

>>28352553
>ironically, you can use reddit fully anonymously
you cannot even access reddit from tor

i have 5k when is the best time to buy, its so expensive atm

This shit is never going to moon is it, last few months for it have been just about the worst of any alt.

>>28386850
monero is not to speculate. mine it. use it when great reset starts

>>28386542
The inflation is very small and even lower than bitcoin for the next five or so years. It only affects the price to the extent that people for for "infinite supply" fud.

Background mining with any of the latest ryzens is definitely worth it. You should be able to get 6kh at least though so check your setup. https://xmrig.com/benchmark?cpu=AMD+Ryzen+5+3600+6-Core+Processor