Monero Spoonfeed Thread

[Anonymous No.29764465]

Can't be arsed to do your own research? Just ask whatever you want to know about XMR.

Current XMR General:
>>29762632

[Anonymous No.29764835]

>>29764465
XMR use cases
>buying dildos off Adam and Eve
>hiding your money from the wife if she ever decides to divorce you
>Onlyfans if you're a normie
>wanting to be out of fiat while also wanting to make sure nobody knows your balance
>drugs

[Anonymous No.29764889]

>>29764835
Based

[Anonymous No.29764970]

>>29764465
Why won’t Monero have high fees in the future?

[Anonymous No.29765097]

>>29764835
>>hiding your money from the wife if she ever decides to divorce you
This alone makes it the most valuable crypto in the world.

[Anonymous No.29765127]

>>29764835
>XMR use cases
Paying for privacy services (vpn, virtual server, etc)
Donating to any kind of status-quo critical organisation
Any kind of payment without the other party knowing how much you hold (litterally ever everday transaction)

[Anonymous No.29765140]

>>29764970
I don't recall how exactly but Monero is designed to have lower transaction fees if transaction count increases, which makes a BTC/ETH scenario where it becomes unusable due to demand impossible.

[Anonymous No.29765142]

>>29764970
Variable block size.

[Anonymous No.29765818]

>>29764970
>Why won’t Monero have high fees in the future?
Monero uses a dynamic block size. The default size is 300kB, but any miner can create larger blocks. If they do, and they are larger than the avarage block size of the last few hours, they pay a penalty fee. This ensures that miners don't include empty transactions and that all nodes can operate efficiently.
The transaction fee is also calculated based on the avarage block size, so that a large block is roughly worth as much as a small block. As a large block can hold more transactions, individual tx fees will actually go down!
With these slightly more complicated formulas the network can handle sudden spikes in tx load (at temporally higher fees), but over time the network can grow as needed.

[Anonymous No.29765920]

>>29764465
Based.

[Anonymous No.29766161]

What's the minimum hashrate you need before ditching pools and mining your own blocks starts to make sense?

[Anonymous No.29766350]

>>29766161
>What's the minimum hashrate you need before ditching pools and mining your own blocks starts to make sense?
Depends on how often you need a payout to remain operational. Pools don't generate you more income, they just give you more consistent rewards. Give me a moment to look up concrete numbers

[Anonymous No.29766385]

How can I run a full node? Is it just opening the gui wallet and that's it? Or do I need to open some ports and use vpn/tor?

[Anonymous No.29766428]

>>29764465
based op, ygmi

[Anonymous No.29766517]

>>29766385
You can have a full node directly in the GUI wallet, but to support the network you will need to open ports, see attached image.

[Anonymous No.29766633]

>>29766517
Can malicious actors sniff packets and find out you're using a Monaro node? Do you just run it through a VPN?

[Anonymous No.29766816]

Goddamn, so many Monero threads today!

[Anonymous No.29766929]

>>29764465
Is now a good time to buy?

[Anonymous No.29767079]

>>29766633
While it's generally safe, I would not recommend opening ports to your main computer unless you absolutely know what you are doing. Yes, it is likely that some actors know that your IP is hosting a node. Currently I'm in the process of setting up a node (on a single board computer, I have to tweak a few thing) and I'll eventually will be running it over a VPN (that can be paid in xmr).

[Anonymous No.29767213]

>>29766929
I'm not buying right now, but I plan to get the 2nd part of my DCA amount soon. I think a 5% drop is likely. Long term (and monero is a long term investment) it is still a good buy.

[Anonymous No.29767541]

>>29766161
>>29766350
The avarage block time is 2 minutes. This means there are 720 blocks/day. The current net hash rate is 2317MH/s.
If you want to mine one block on avarage per month you'd need 2317/ 720 /30 = 107kH/s. This is more than any single CPU can deliver. You can find rough estimates here: https://monerobenchmarks.info/
Good memory timings improve performance significantly (up to +50% as I read)

[Anonymous No.29767623]

>>29765920
>>29766428
>>29766816
Wanted to do this for a while. I found the LINK spoonfeed thread a few days ago was super helpful and though I could dou this for XMR.

[Anonymous No.29767702]

>>29767541
To calculate the payout you can use this site: https://www.cryptocompare.com/mining/calculator/xmr?HashingPower=20&HashingUnit=KH%2Fs&PowerConsumption=160&CostPerkWh=0.15&MiningPoolFee=1

[Anonymous No.29767806]

>>29765127
>Donating to any kind of status-quo critical organisation
>Any kind of payment without the other party knowing how much you hold (litterally ever everday transaction)
Those are the 2 biggest reasons that need to be shilled. Thieves/hackers can't see your balance, and transactions that seem innocent today might come back to bite you in the ass if you aren't using xmr. And honestly, fuck all the talk about illegal transactions, people who focus on that just seem like glowies spreading 2014 btc level propaganda, especially if they say it's only useful for guns, pedos or tax evasion/money laundering.

[Anonymous No.29767863]

>>29767541
Cool. I'm a game developer and have access several 3rd gen Ryzen chips to mine. Ryzen 3950x seems to be the best bang for the buck monero miner right now.

[Anonymous No.29767996]

Stealth AVAX thread, nice

[Anonymous No.29768172]

>>29767806
>transactions that seem innocent today might come back to bite you in the ass
Exactly. I fear that people do not realize how bad their online history can be.

>>29767863
Yes, all ryzen 3600 or better are ideal for monero mining

[Anonymous No.29768221]

gotta take some vacation to spend on trading now
but this nabbas try to shill their fucking shitcoin
good that I join bot ocean algorithms and strategies
no sense to believe in that fuck

[Anonymous No.29768228]

>>29765097
checked

[Anonymous No.29768448]

>>29765140
>call how exactly but Monero is designed to have lower transaction fees if transaction count increases,

After 18.7 mil coins mined there wil always a miner reward of 0,3 xmr per m if im correct
we have dynamic block size it can grow
we dont use a fee market like btc eth

[Anonymous No.29768545]

>>29767806

Also worth mentioning is that governmental surveillance and blacklisting are ramping up. If Uncle Sam decides you've been up to no good they can and will blacklist all your known crypto addresses, and if those cryptos happen to be traceable your funds will become toxic waste that nobody else will want to touch.

[Anonymous No.29768669]

>>29766385
you can also run the demon standalone and connect your gui / cli wallet to it
by openeing port 18080 you support the network in sharing the blockchain

[Anonymous No.29768914]

>>29767863
>>29768172
Found the source: https://www.reddit.com/r/MoneroMining/comments/lpsk4m/ryzen_cpu_comparisons_at_a_glance_hash_per_watts/

[Anonymous No.29769104]

>>29768914
Unfortunately, there is hidden cost in motherboard+power supply for each lower-cost CPU, so bulk-buying them doesn't make sense

[Anonymous No.29769155]

>>29764465
i fucking hate all this kyc aml bs from excanges im currently converting all my crypto to xmr and withdraw to cold storage remember not your keys not your coins

[Anonymous No.29769450]

i agree that monero is probably the only truly worhtwhile coin with any use, but what prevents me from buying is its always going to be affiliated with the dark web, cp, drugs, etc. exchanges are going to de-list it because of its bad reputation, and governments hate it. basically its a great project , probably the best project, but governments hate it so it will probably never go up in price

[Anonymous No.29769589]

>>29769104
I've seen mainboards for as low as 45€ on sale. (german site: https://www.mydealz.de/deals/gigabyte-ga-a320m-s2h-v2-am4-b350-mainboard-1646631)) Don't know if that's good enough for a 3600x, you'd have to do your own calculations based on local availability.

[Anonymous No.29769643]

>>29764835
This is better than all other crypto use cases and everyone knows it.

[Anonymous No.29769701]

>>29769450
>bitcoin in 2013

[Anonymous No.29769726]

>>29769450
If you think it's a great project, put in a few dollars and hold. You won't regret it.

[Anonymous No.29769758]

>>29769589
I have one of those turds, it's designed for 65 watt chips so there's constant CPU fluctuations when mining with a 3700x. however my hashrate is still around 9 kh/s so I guess it doesn't care that much. Probably going to chuck my old 1800x in it instead.

[Anonymous No.29769968]

>>29769450
>exchanges are going to de-list it because of its bad reputation

Its unlikely that every single exchange in the world would delist Monero and even if that happened atomic swaps mitigate the worst effects of such an eventuality.

Basically, instead of:

>Exchange -> XMR

You'd just need an additional step:

>Exchange ->BTC/LTC/whatever -> XMR


>but governments hate it so it will probably never go up in price

Governments hate XMR because its too effective.

Criminals love XMR because its so effective.

Criminals are also part of an enterprise that globally generates $2 trillion annually. Do the math and you'll understand why the price will eventually hit 5 figures.

[Anonymous No.29770006]

>>29769758
Just for interest: Did you undervolt? Does your CPU cooler produce airflow over the VRMs?

[Anonymous No.29770139]

>>29770006
I haven't overclocked and my heating solution isn't ideal. But even though I sometimes thermal throttle, HWinfo suggests the fluctuations are caused by the chip lacking power.

[Anonymous No.29770687]

Minebro here, any questions?
Also, general guide on mining setup:
https://pastebin.com/CKwGCUwc

[Anonymous No.29771052]

>>29770139
I think the VRMs might throttle because of over-temperature limits. Everything else (ie. inductor saturation current, voltage drop over traces) must be designed for peak load. If you have some small heatsings and double sided termally conductive adhesive tape, try sticking some on the mosfets (small chips with 8 pins).
t. electrical engineer

[Anonymous No.29771149]

>>29770687
based and bookmarked, thanks

[Anonymous No.29771863]

>>29769968

[Anonymous No.29772081]

>>29764835
enjoy your "new paradigm" defi scams fag.

[Anonymous No.29773716]

>>29768228
He's right but you can't check singles.

[Anonymous No.29774016]

>>29764465
what's the signature algorithm?
how's full privacy achieved?

[Anonymous No.29774208]

>>29764465
How about fuck the newfags and stop degrading the quality of the board by having repeated threads. Plebbitors will never be a part of a paradigm change, they will always be the followers.

[Anonymous No.29774268]

>>29774016
>what's the signature algorithm?
>how's full privacy achieved?

>How is Monero’s privacy different from other coins?

Monero uses three different privacy technologies: ring signatures, ring confidential transactions (ringCT), and stealth addresses. These hide the sender, amount, and receiver in the transaction, respectively. All transactions on the network are private by mandate; there is no way to accidentally send a transparent transaction. This feature is exclusive to Monero. You do not need to trust anyone else with your privacy.

>How is Monero different from Bitcoin?

Monero is not based on Bitcoin. It is based on the CryptoNote protocol. Bitcoin is a completely transparent system, where people can see exactly how much money is being sent from one user to another. Monero hides this information to protect user privacy in all transactions. It also has a dynamic block size and dynamic fees, an ASIC-resistant proof of work (RandomX), and a Tail Emission, among several other changes.


>What is fungibility, and why is it important?

Fungibility is a simple property of money such that there are no differences between two amounts of the same value. If two people exchanged a 10 and two 5’s, then no one would lose out. However, let’s suppose that everyone knows the 10 was previously used in a ransomware attack. Is the other person still going to make the trade? Probably not, even if the person with the 10 has no connection with the ransomware. This is a problem, since the receiver of money needs to constantly check the money they are receiving to not end up with tainted coins. Monero is fungible, which means people do not need to go through this effort.

[Anonymous No.29774482]

>>29774268
What stops government from doing a 51% attack with a shitton of ASICs?
The mining is not ASIC resistant iirc

[Anonymous No.29774790]

>>29774016
>what's the signature algorithm?
The algorithm used for mining is RandomX.
To derive the addresses ED25519 Elliptic Curves are used. This is different form bitcoins algorithm to offer a technologic hedge. If one algorithm is cracked, the other coin will still be usable.

>how's full privacy achieved?
Monero uses 4 major parts methods to archive privacy:
1. ring signitures, this obfuscates the sender
2. ringCT to encrypt the transaction amount
3. stealth addresses to hide the receiver
4. dandelion++ to hide the IP address
Out of these 4 ring signitures are the cryptografically weakest part as you currently only "hide" among 10 other transactions. If privacy is critical, churning is recommended: send fund to a 2. or 3rd. wallet to multiply the privacy set. Note that ring signitures work best if a lot of transactions are on the blockchain, so other competing privacy coins with the same tech but fewer transaction will always have worse privacy.

[Anonymous No.29774840]

>>29774482
>What stops government from doing a 51% attack with a shitton of ASICs?
Streisand effect

[Anonymous No.29774861]

>>29764465
Will it go up? When and why?

[Anonymous No.29775036]

>>29774208
>degrading quality
idk, posting memes and "based" is fun, but not actually high quality. That's why I made a new thread and didn't food the general with this.

[Anonymous No.29775176]

>>29768545
So if my crypto get "blacklisted" and that taints anyone I transact with, what's stopping me from trolling everyone I hate by sending them 100 sats each? Now they're guilty of transacting with "a criminal" and have no way to prove their innocence.

[Anonymous No.29775293]

Is the wallet secure or a nano/x/trez is needed?

[Anonymous No.29775316]

>>29774482
There are no ASICs. The best "ASIC" you can get is a RYZEN EPIC or a 5950x, so generic CPUs available also to consumers. Sure, a government could buy a shitton of them, but it's unlikely.
Even if a 51% attack happens and the attack options are limited. You can not block transactions from a specific user, because you don't know who is who. You could double spend, but the upfron cost for all the datacenter and electricity is not worth it.

[Anonymous No.29775461]

>>29774268
Serious question. How is zcash not private and not decentralized? I hold XMR and no ZCASH. Just wondering from a technical perspective

[Anonymous No.29775510]

>>29774861
Nobody knows for sure. Privacy in general is undervalued right now, but remeber that one elon musk tweet was enough to push people to signal and push the SGNL ticker (unrealted to Signal, the company) up by a few 100%.

[Anonymous No.29775695]

>>29775176
It makes sense that people are only guilty if they spend the tainted coins. If you ignore dust in your wallet or never select those coins (if your btc wallet supports coin control), I don't think law enforcement will have a promblem with small amounts.
If you send someone 100k$ worth of tainted BTC, they might have a problem.

[Anonymous No.29775871]

>>29775293
The official Monero wallets are secure (funds can not be stolen) and private enough. Use a VPN or TOR if you know you need it.
Personally I'd recommend a hardware wallet for larger amounts, but some people have reservations about this.

[Anonymous No.29776001]

>>29775510
It's already happening, internet warriors for "justice" have started tracking BTC donations to wrongthinkers to try to identify donors and target them for social media and IRL attacks.

Public blockchain is a horrible idea for currency. It may make sense for tracking property rights of inherently limited real world goods, like real estate, mineral rights, and maybe intellectual property, but for currency it's awful and invites attacks the same way bank account balances and transfers being public information would. Bitcoin may still be king for the next few years/decades but it's inevitable that at some point it will be replaced by either monero or something like monero that is private by default.

[Anonymous No.29776047]

>>29774482
RandomX is ASIC resistant

[Anonymous No.29776213]

>>29776001
>invites attacks
That only applies to people who live in a country where you can lose a job because of wrongthink.
>>29775510
So what you're saying is I shouldn't buy it.

[Anonymous No.29776298]

>>29775461
>Serious question. How is zcash not private and not decentralized?
I don't know enough about ZCASH to be 100% certain, but I think the original zero-proof algorithm required a trusted setup. Zcash also does not have RandomX or a decentralized funding like monero's CCS.
ZCASHs privacy is not that great because it's optional and only enabled for a few % of transactions. This is bad because the transactions stick out like a sore thumb and it is much easier to correlate with off-chain data. I don't about any specific on-chain attacks.

[Anonymous No.29776793]

>>29776213
>That only applies to people who live in a country where you can lose a job because of wrongthink.
No. This applies to any contry that might retroactively punish you for transactions you made in the past. "Everything you say can and will be used against you." Having less public data protects you and people close to you. It's like insurance: It may not be needed right now, but when the time comes you'll be glad to have it.

>>29776213
>So what you're saying is I shouldn't buy it.
Contrary to popular believe you should buy low and sell high. If you consider privacy undervalued you should buy it now that you can later sell it at a markup. You only make money if you see things the rest of the market doesn't.

[Anonymous No.29777941]

bump

[Anonymous No.29778071]

Where can I spend xmr?
I live my life through bitrefill giftcards and they don't accept xmr

[Anonymous No.29778373]

>>29778071
This is the official (but incomplete) list: https://www.getmonero.org/community/merchants/

[Anonymous No.29778626]

>>29775176
>So if my crypto get "blacklisted" and that taints anyone I transact with, what's stopping me from trolling everyone I hate by sending them 100 sats each? Now they're guilty of transacting with "a criminal" and have no way to prove their innocence.

There is obviously some kind of minimum threshold that activates the red flag. In any case, the point of blacklisting addresses is to make the funds they hold so toxic that they're rendered less valuable or outright worthless since you can't send them to exchanges and most people won't want anything to do with them.

This will become an issue when atomic swaps go live, we'll see a plenty of coins on the OFAC blacklist on offer.

[Anonymous No.29779108]

>>29776213
>That only applies to people who live in a country where you can lose a job because of wrongthink.
There are extremist nutjobs in every single country in the world. You never know when some idiot will get it in their head that burning your house down because you bought a 4chan pass will make the world a better place.