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17014739 No.17014739 [Reply] [Original]

>What is Monero?
Monero is an open source, decentralized cryptocurrency focused on private, censorship-resistant transactions.

>What makes Monero have value?
Unlike first generation cryptocurrencies, Monero does not have a transparent blockledger. It is therefore impossible to find out how much Monero an individual has or what transactions they have previously made unless you have access to their private keys. This ultimate privacy has far reaching use cases, such as bypassing oppressive government censorship, avoiding discrimination, preventing unwanted surveillance from third parties who sell your information, and avoiding price manipulation. Lastly, as KYC regulations become more prevalent and chain analysis improves, stories of "tainted" coins being held by centralized exchanges will only continue to grow. This is impossible with Monero, because Monero is the only fungible cryptocurrency.

>How does Monero work?
Monero employs several techniques to obfuscate transactions. In the following example, Alice is sending 1 XMR to Bob.
1. A ring signature is created at the start of the transaction. This means that more than one input is shown on the blockchain. The people observing the blockchain would have no idea which value is the real one among the decoys. Even Bob would not be able to tell which input was from Alice.
2. Ring CT is used to make the transaction confidential. Essentially, a random number is added to the transaction amount, so individuals observing the block chain will have no idea what that random number is. If the random number was 12, the overall transaction would show as 13 in this example.
3. A stealth address is used by Bob, which is a one time destination public key that only Bob can use. This prevents anybody from being able to associate the received transaction to Bob, because only Bob is in possession of the key.

>> No.17014916
File: 46 KB, 462x663, 1570921278902.jpg [View same] [iqdb] [saucenao] [google]
17014916

Monero is one of the better choices. And it is cheap right now.

>> No.17014915

>>17014739
Monero is going to $3000 in the next few years

>> No.17014943

>>17014916
Nice image fren

>> No.17015330
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17015330

When is Monero going below $50 friends? Been waiting for too long

>> No.17015347

>>17015330
It was there longer than you been waiting.

>> No.17015385
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17015385

>>17014739
Recently updated to version 15 of the XMR gui wallet. Comfy af. Doesn't require patrician levels of crypto autism to get working.

>> No.17015402

I'm too poor for monero. You're all going to have to make it without me.

>> No.17015530

>>17015330
It might go there again in Feb/March but after that it will go up with Halvening hype and the low inflation. Block reward is officially under 2 XMR now and tail emission at .6 XMR by 2022.

>> No.17016177
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17016177

>monero for fungible currency
>ethereum for tokenized assets
>iota for weird esoteric iot mesh network that may or may not happen
>maker for defi
my comfiest holds