XMR

p3r72sa1q

>But if you want to invest in rising crypto prices then XMR isn't a good bet You don't invest in currencies. You use them. Bitcoin is a shit currency, but a good store of value (deflationary). XMR is a great currency, but a terrible investment.

snowmanyi

XMR has outperformed 99% of cryptos launched when it was launched. They were relegated to the dustbin of history, yet XMR remains. Ofc it's not Bitcoin but Bitcoin is in a world of its own.

Whatever14x

Where to buy XMR now?  Need to be easiest way

WR3CKONER

Hell yeah XMR, thank you for posting this. If you want real privacy , decentralization, and financial freedom buy monero.

y0l0tr0n

It is mainstream as it is the way to go to do your untraceable purchases. What you mean that it won't "moon" as an financial asset to invest it. In it's niche it is the absolute way to go. But if you want to invest in rising crypto prices then XMR isn't a good bet

nazuralift89

Someone help! I tried to withdraw my XMR from Binance, but I can't *see* it!!

siviconta

XMR the only true crypto

CointestMod

#Monero Con-Arguments Below is a Monero con-argument written by FrogsDoBeCool. > cointest copied from Frogs do be cool (me) [https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm_source=share&utm_medium=web2x&context=3) > > disclaimer: I own no monero > > # Monero, some cons > > * XMR won't be adopted globally. > * Monero due to its regulation and straight-up banning on most exchanges, won't be adopted. It's pretty obvious why, but to spell it out more, people who can't buy monero, can't use it. Why not buy it on defi? it looks like defi exchanges may be able to be regulated too! meaning monero can't be exchanged for other currencies. > * The price doesn't do much > * That's because of the supply, as of now, there will be a constant amount of xmr made now than ever. That's fine as a currency, but now the price won't be doing 10x's or 5x's like bitcoin. That's great as a privacy feature and removes issues of 51% attacks, but at an expense of the price ever going up and staying up. adding to my point above, monero has no worth if it cannot be exchanged with other currencies, the price could be infinite, or $0, doesn't matter when nothing will be exchanged for it. > * its reputation > * XMR is known by people who don't own crypto as "the shady tax evader coin" or "criminal coin" and other things to do with crime. There's no doubt that in the crypto sphere the simplest fud can kill a project, remember Elon musk removing bitcoin from their payment systems? China, again, for the 45000th time... > * Its most popular wallet has some issues, mymonero > * a reddit user was quoted "I am constantly met with errors, crashes, and a frozen program" "My wallet froze and I couldn't even delete wallets or restore. I tried reinstalling and every time the problem would not resolve itself. I had to finally restore my seed on a different wallet." the response was not exactly the most in-depth or helpful. "We are aware of an issue when the computer goes to sleep or power saving mode and will be addressed in future patch." [src](https://www.reddit.com/r/monerosupport/comments/i22fd9/why_is_my_monero_wallet_so_bad_i_find_there_is/) > * the cons of monero are pretty intense, as regulation comes to push it down, other things like wallets that support monero, its reputation, and the tokenomics suffer. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

MoneroFox

Binance doesn't have all the XMR, it only buys up on an ongoing basis, as needed. Most of the time XMR withdrawals are closed. After all, this is the basic business model of Binance, it holds 100% of the reserves of only the main coins (see proof of reserves). As Binance writes in its statement, XMR will probably not be converted to stablecoins. So the "sale" will not take place. Coins just disappear - since they don't really exist.

GMEthLoopring

You know what would be smart as fuck? Shorting XMR right before that, so people who never withdrew their XMR will get auto sold into a stablecoin… slightly dropping the market? Though, I don’t know where is left to short xmr anyways

trimalcus

Wait until they stop supporting XMR. Hoping I am wrong

ziclon88

Nobody wants to use BTC as currency anyway, too slow and too expensive. Use XMR as anyone else.

xen91

have you though about the transaction fees? If a customer is paying in BTC and there is a $100 transaction fee on top and a 6+ hour wait for the transaction to go through, they might prefer to pay with a credit card... You could use lightening etc, but I just can't get my head around it, seems like a bodge to me. But other cryptos like LTC , XMR , etc are cheap and fast, but not so well used... so not sure what the answer is. Maybe offer a 10% discount if they pay in LTC or XMR ?

Downtown_Feedback665

I’d take a gander to say there might be less than 10 actual use cases. BTC is always gunna BTC, but past that there’s: Remittance - eg XLM Supply chain/logistics - eg Hyperledger Fabric Privacy - eg XMR Decentralized compute/Web3/smart contracts - eg ETH Contracts or real estate - eg companies like RealBlocks Decentralized Finance - eg AAVE Government processes - eg Estonia. The country. Decentralized Autonomous Organizations (DAOs) - eg UNI, MakerDAO Honestly I can’t think of any more actual use cases that make sense. People will say gaming, I don’t buy it People will say IoT, I don’t buy it People will say voting, I don’t buy it People will say for the memes, I don’t buy it There might be 50ish crypto companies all legitimately vying for the use cases I mentioned, and in good faith I might add. However, the power law should wipe out most of the competitors within our lifetimes. Which leads to maybe 10-20 real companies and more than 14k failed projects, scams, and Ponzi schemes.

fapthepolice

The events mentioned on the government site are before the creation of XMR.

tech32spn

You are correct and for this very reason, I prefer focusing on pure digital cash solution s.a. BTC, NANO, XMR, instead of throwing funds into the Nth hyperinflationary-ponzi pretending to provide the panacea to a non existing problem.

CointestMod

#Monero Con-Arguments Below is a Monero con-argument written by FrogsDoBeCool. > cointest copied from Frogs do be cool (me) [https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm_source=share&utm_medium=web2x&context=3) > > disclaimer: I own no monero > > # Monero, some cons > > * XMR won't be adopted globally. > * Monero due to its regulation and straight-up banning on most exchanges, won't be adopted. It's pretty obvious why, but to spell it out more, people who can't buy monero, can't use it. Why not buy it on defi? it looks like defi exchanges may be able to be regulated too! meaning monero can't be exchanged for other currencies. > * The price doesn't do much > * That's because of the supply, as of now, there will be a constant amount of xmr made now than ever. That's fine as a currency, but now the price won't be doing 10x's or 5x's like bitcoin. That's great as a privacy feature and removes issues of 51% attacks, but at an expense of the price ever going up and staying up. adding to my point above, monero has no worth if it cannot be exchanged with other currencies, the price could be infinite, or $0, doesn't matter when nothing will be exchanged for it. > * its reputation > * XMR is known by people who don't own crypto as "the shady tax evader coin" or "criminal coin" and other things to do with crime. There's no doubt that in the crypto sphere the simplest fud can kill a project, remember Elon musk removing bitcoin from their payment systems? China, again, for the 45000th time... > * Its most popular wallet has some issues, mymonero > * a reddit user was quoted "I am constantly met with errors, crashes, and a frozen program" "My wallet froze and I couldn't even delete wallets or restore. I tried reinstalling and every time the problem would not resolve itself. I had to finally restore my seed on a different wallet." the response was not exactly the most in-depth or helpful. "We are aware of an issue when the computer goes to sleep or power saving mode and will be addressed in future patch." [src](https://www.reddit.com/r/monerosupport/comments/i22fd9/why_is_my_monero_wallet_so_bad_i_find_there_is/) > * the cons of monero are pretty intense, as regulation comes to push it down, other things like wallets that support monero, its reputation, and the tokenomics suffer. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

ForthInLine

Monero (XMR). Everything else is trash.

Specialist-Address98

Asymptotically stable tail emissions are arguably beneficial for any crypto, because it filters out people from the community who just mindlessly think "iNflAtioN bAd". Gold has higher inflation than Monero, and it's the asset with the highest market cap. If somebody wants to hedge against Monero's inflation, they just buy enough to own a desired fraction of the whole supply at a certain time in the future. For example, if somebody wants 1 millionth of the supply of XMR in 2140, they would buy 37 XMR.

DazzlingSecurity5

Chia XCH, Zcash ZEC, Monero XMR

MunificentDancer

What's the point of just repeatedly commenting BTC when 5 people have already said lol, also anyone on this probably already know this. I'm just gonna name 2 for the long term KAS and XMR

TinglingTongue

I gotta admit I am guilty of taking a photo of them with my phone, knowing I shouldn't. I'll actually write it down and delete any virtual copies. Is there any downside in scraping a wallet and creating a new one after every transaction? Is this doable? I'm thinking this could be an extra easy step, since I don't plan on holding any XMR for any later purposes, just payments. What are your thoughts on that?

GrandmasGiantGaper

That might be correct, but doesn't mean it was a good investment, and clearly it wasn't. XMR probably has the worst annual chart compared to any other altcoin that is widely spoken about online. The deplatforming of XMR started years ago, didn't just begin with Binance delisting.

EndSmugnorance

I’m interested to hear why you think tail emission is bad? The reward of 0.6 XMR per block won’t exceed Bitcoin supply until 2040. Inflation rate is <1%, ensures miners will be incentivized forever, and keeps transaction fees low.

GrandmasGiantGaper

Monero would've always had value until they changed the tail emissions to print XMR forever which means it'll just inflate over time. That's why I dumped it middle of last year after bag holding down 60%

TinglingTongue

Thanks a lot for such a thorough reply! So you say that instead of sending the XMR to another wallet, it is possible to restore the seed on the destination wallet. I’ll have to look into that, as I have no idea how to do that or what it means really, but I wanna learn it, regardless the low fees, seems like smtn i wanna know how to do. About tails…I’m pretty sure i did set up the persistent volume. After doing that, i installed feather, created my wallet, restarted tails, and after unlocking my persistent volume, my wallet was still there with the same name. This is it right? I’m not missing anything here, am I?

Ur_mothers_keeper

Electrum doesn't support Monero. On a desktop, you've got basically feather and the official Monero GUI from https://getmonero.org (a security thing, don't ever google it and then click a search result, type it in exactly like that to avoid malware from a phishing site, now that you're getting into self custody, never ever ever google a website to do crypto stuff from, always type in the right address, and even better bookmark them if you go to them more than once, sometimes people buy fatfinger domains like bictoin.com or something so typing can be dangerous too). They're both fantastic and both run the same back end under the hood, I like the classic sort of environment feather has over all the modern flat graphics of the official GUI but that's personal preference. Just FYI, you don't have to send the XMR over to a new wallet, you can get your XMR seed from cake wallet and restore it there, but Monero fees are so cheap it's really no big deal to send it to a new one, just make sure you can write down and keep track of both seeds. A note on tails: it's not persistent by default, it resets everything when you shut down, so if you're installing software, running Monero and particularly syncing the blockchain every time you're using it, you'll need to set up a persist volume. https://gist.github.com/mc2pw/aeb4ca3972fea54d4858#persistence in case you didn't know that already.

nick_117

XMR for sure. When people talk about if chains have "real world use" they always leave our XMR. Privacy for everyone is a real world use that no other chain solves as well as XMR and will only become more valuable as the surveillance state expands.

ziclon88

long term? XMR because decentralization and ppl will eventually value privacy ADA because decentralization and all the good tech and good values are there ETH and BTC because mainstream apes see them as "safe bets"

drzood

Yep you might make 0.01 XMR by 2030.

MoneroFox

Just buy Monero and ignore other coins. If you do not have the opportunity to buy Monero directly, then buy some other coin that is not as popular (and closely monitored) as BTC and does not have such high transaction fees. For example BCH. Then exchange it for Monero. Monero is the best, but it is not omnipotent. If you buy 1 XMR at the exchange and then you send it directly somewhere, expect problems. Protect yourself. Have your own wallet full of coins and pay whenever you need. Once in a while, make a new wallet and empty and delete the old one. Buy coins only occasionally, randomly and always elsewhere, most of your data goes directly to Chainalysis (or similar companies).

PhoenixJ3

The main reason that merchants such as Steam and Microsoft stopped accepting crypto wasn't anything to do with the MSM. The problem was that when they tried accepting BTC people loved it and started using it, then transaction fees went through the roof and no one wants to pay $5+ in tx fees to buy a game. BTC doesn't scale and merchants experienced buyer friction first hand. They could solve this by accepting other crypto that can scale (BCH, XMR, etc.), but once they were burned by BTC they assumed all crypto would have the same problem and are now afraid to touch crypto. BTC's failure to scale with demand set all crypto back at least a decade.

NationalCat8361

Yeah, XMR is certainly good-for-nothing blockchain.

OfWhomIAmChief

Localmonero may be a honeypot, but atomic swaps exist for BTC <> XMR. I find the timing of the Samourai devs arrest to be interesting. They recently incorporated atomic swaps into their wallet for Monero then less than a month later they get arrested/seized. DEXs such as serai and Moner native Haveno are on the horizon but retail is still light yeara behind and rely on CEX's to get Monero, the last of which is Kraken.

vinibarbosa

I have received payments in cryptocurrency since 2020. First, partially, in exchange for a few writing gigs; but now I'm fully paid in crypto and I currently feed my family with these payments. My first choice is Nano (XNO). 1. Zero fees make a huge difference in the long term for both the sender (who pays) and the receiver (myself). 2. Deterministic finality makes sure the transaction is irreversible as soon as it receives the first confirmation. 3. Finality in \~600ms on average gives the security of a successful settlement and diminishes the price-spread risk from the time the payment was sent to the time the payment is received and can be liquidated (if desired) by the receiving party. This is also often overlooked, but as of great importance in such a volatile market. I would also gladly use Monero (XMR) due to its privay-by-default characteristic; or take other efficient decentralized cryptocurrencies like Bitcoin Cash (BCH) or Litecoin (LTC). XNO and XMR are my two favorite options, tho.

MoneroArbo

So true. At least XMR withdrawals still have reasonable fees!

conceiv3d-in-lib3rty

I’ve all but stopped using Kraken at this point (except for XMR) because of the withdrawal fees after being a customer since ~2015. I off-ramp every 2 weeks and Coinbase’s integration with USDC and free ACH withdrawals just makes it a no brainer for me.

mymongoose

Monero $XMR is very suited to this use case - fees are around a cent, and peer to peer transactions are exactly what Monero is used for every day

nick_117

That's true. I just think it's interesting because XMR appears to have become what BTC wants to become. A relatively safe store of value. It's still too early to tell but the signs on the graph are good. There aren't major price movements with the stock market or BTC anymore. As long as it grows more than inflation year of year you could view it as a fully capitalized BTC.

purplecowz

I think XMR holders specifically care less about the price action of BTC because they are lawless rebels. Lol

Somebody__Online

Personally I only use XMR when buying stuff that requires XMR. I never hold it long term. I usually do t even source it until im shopping those markets. ZRX is one I only use the exchange contracts for but don’t hold tokens. I already have UNI tokens and consider that more the golden standard for open source trade products on Ethereum main net. It’s interesting to see more and more people commenting about projects they like and what they are choosing for their portfolios

FoolHooligan

>And as for XMR, it's not suitable for when payments need to be traced. What? Why would payments need to be traced aside from the fact that the payment was received?

HairyChest69

I was pretty disheartened to see XMR is being removed from Kraken as that's the only place I've bought it since learning about Crypto. Guess I'll try to load a bag before June.

LDNVoice

I wonder what you're buying with XMR lmao. On a real one though, just buy USDT and convert to XMR as USDT has low transfer fees and doesn't swing. As long as you aren't holding lots of USDT leftover then it shouldn't really be an issue. Like 1-5 eur being stolen isn't the end of the world

HSuke

No surprise. > By 2018, it pulled all of that activity, saying it was too volatile and unstable. “Over the past year or two, as block size limits have been reached, Bitcoin has evolved to become better-suited to being an asset than being a means of exchange,” the company said in its announcement. “**This has led to Bitcoin becoming less useful for payments**.” And as for XMR, it's not suitable for when payments need to be traced. Support for Ethereum is a bit surprising unless they mean Layer 2s. I can't imagine they'd want to pay ERC-20 transfer fees for USDC.

AutoWallet

Although BTC & XMR's ships will be stuck in port, i'm sure they'll go up some too. Honestly this may be the tell that BTC could lose dominance soon.

FoolHooligan

while cool, they're not supporting BTC or XMR

Turkdabistan

Sorry to bump this thread but I'm in this exact situation. I see USDT as a more stable currency to the popular coins which move with greater volatility. I'm trying to figure out if buying USDT and converting to XMR at the time of purchase is the best way to avoid volatility swings and high fees (BTC). I'm seeing some doubt about the legitimacy of USDT here though which is giving me doubt. To be fair, I'd never have more than $1k at once in an account like this.

borg_6s

Ok that's cool and all but you know that most services don't accept XMR yet right

SquatDeadliftBench

I been in this since 2016. The golden rule of alt coins is if it goes up hard, it drops hard. You better sell. Only a few coins worth holding longterm and Hedera is not one of them. Not heven close. Other than BTC, ETH, and, maybe XMR, I can't think of a coin that has gone up and stayed up the same way BTC and ETH have. [This is my XRP trading history.](https://i.imgur.com/1lJs1Bn.jpeg) Just basic buy low, sell high (when in profit), wait a few days and then buy back at a new low. I do this with hundreds of coins. The only ones I do not do this with are BTC and ETH.

Ur_mothers_keeper

Where can you trustlessly swap XMR for ETH?

jwinterm

You can trustlessly swap mainnet XMR for mainnet BTC or ETH now. Also new tools like serai dex coming.

johnfintech

No. Cypherpunks' main concern is cryptography, not privacy. Bitcoin was created by cypherpunks to be cryptographycally secure and hence censorship resistant. Your xmr vs btc assertions are just another confirmation of the shortsightedness and superficiality of this sub who never actually reads anything, the little psuedo-knowledge it has comes from memes read in passing. Your answers are a perfect example. It's like talking to buttcoiners. If you want untraceability in bitcoin then you can use mixers any time you wish. XMR doesn't fundamentally add anything new, it just forces mixins at protocol level, and by doing so makes itself unattractive for adoption at any meaningful scale, let alone allowing circular economies, and hence it's no wonder that serious people don't take XMR seriously (I won't even get into the perpetual schoolgirl drama that has been the XMR dev team). Bitcoin's default level of traceability (which can always be enhanced by using mixers) was a choice, and a good one, not a shortsight. XMR's default level of untraceabiliy, which isn't even guaranteed (just statistically harder) is a typical flexing of programmers who didn't spend time to understand the social and economic ramifications; that's also shortsight, but fine as a programming experiment. Same with Zcash's zk-SNARKs transactions, which virtually nobody uses; zooko was less shortsighted, he implemented both public and private transactions (and as expected, the former are virtually the only ones used in Zcash). I typed all this for the benefit of other who might be reading. You carry on

ziclon88

Should have used Monero XMR

Livid_Primary_6294

#XMR is the one!

MoneroFox

Most exchanges only have as many coins as is absolutely necessary. When you buy XMR, you raise its price. Increasing the price of XMR is absolutely inappropriate. It is better to close the withdrawals and leave the deposits open. And over time, you'll sort it out little by little.

gr8ful4

Why? BTC and ETH are intended to be high price. Just use a low fee alternative like LTC, BCH or XMR.

WR3CKONER

I agree from an investment standpoint that it may never hit a large market cap like BTC or ETH, but from a decentralized/privacy standpoint and store of wealth/currency XMR can’t be beat. Also I get that binance is the largest CEX in the world, that XMR is being banned in the EU, but that’s because they’re afraid of it. Wasn’t the point of crypto to be your own bank and not have the government know your financial moves? I would like to also add LTC/BCH to my portfolio once I get a chance. For now I’m holding XMR and it is definitely incredibly undervalued, and I respectfully disagree that privacy coins will not survive. You don’t need an CEX to purchase XMR. XMR is what Bitcoin was meant to be.

gr8ful4

XMR is a currency. So stability is king. But as other currencies fail the currency market gets reshuffled. And at that time Monero might turn out to be an even better "investment" than BTC. So, no it's not an investment in the normal sense. But it has utility today. It's usable with low fees and private like cash. Monero and Bitcoin have widely differing paths. Bitcoin needed to grow to its market cap of > 1T over a long time. Monero could see spontaneous adoption as digital cash and tap into a huge pool of liquid capital stored in other cryptos. In other words: 2.4T USD invested in the cryptocurrency space are only one click away from entering Monero (if necessary).

cosmic_censor

> I don't like it as a speculative asset that will yield high returns Is that just because of regulatory hostility or is there some other reason XMR is a poor investment?

Inthewirelain

Not as fixed on XMR as you'd think, see the attacks last week. The adaptive block size doesn't exactly work as most think

hirako2000

I also have a lot of affection for Monero but people still don't tend to care about its properties. Imo XMR will at some point suddenly go 10 or 100x, if it continues to prove its solidity. What has delayed interest in privacy coins has been their wallet Ux. I got asked by many in the past: why my Monero don't show, why does it sync forever? I seem to have lost all my Monero they don't show anymore! A tech doesn't get a great reputation when it claims to focus on the currency use case but freaks users out for years. Plus again people are still not in touch with the massive privacy concern, they use WhatsApp, have an amazon echo or whatever and some Chinese made no brand iot stuff, continue to call via AT&T despite all the mainstream articles showing what these things are doing. Anyhow not bashing Monero at all, everything else has been outstanding and would love to finally get paid and buy stuff mostly in XMR. One day maybe. Until then I keep some. If anyone wants a coder that accepts XMR, DM me.

DuncanDickson

XMR! 👍

Etrensce

This is the same guy that called binance insolvent because of XMR. Oh and claiming kucoin was going down too.

hblok

Ok, I see what you mean. However, aren't you mixing two concepts here? Yes, btc is traceable. The ledger is fully public, down to every single transaction. So it is not anonymous. And the illusion of anonymity comes only from the lack of link to your wallet and person. But as soon as that link is established, everybody can see every single transaction you have made. However, that is very different from fungibility. When I want to sell something, and I get some sats for that, should I really care about their history? If they were at some point part of a halving block, or worse involved in a criminal transaction, should I worry? Does touching a $100 bill which was previously held by Pablo Escobar make me a bad person? No, of course it doesn't. Because the money does not know where it came from. And even though, the sats can be traced, its history really have no implication. (Unless somebody wants to create a tenuous legal link). Obviously, XMR solves this whole conundrum better. But I still don't see how it makes BTC non-fungible.

EndSmugnorance

Glad you asked! BTC is NOT fungible. And it’s not anonymous. Bitcoin is pseudonymous and highly traceable. 1 BTC =/= 1 BTC. It could be tainted with criminal history, or from a blacklisted wallet. If you’re looking for a truly fungible, anonymous coin, it’s Monero. 1 XMR = 1 XMR always.

coinfeeds-bot

tldr; The article discusses a Monero-themed artwork created by the author, which includes a puzzle with a hidden private key containing an unknown amount of XMR (Monero's cryptocurrency). The artwork is inspired by Fight Club and is available for download in various formats including PNG, AI, EPS, SVG, and PDF. The artwork is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, and high-resolution files are available upon request. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MoneroFox

So far, everyone who delisted had a long-term problem with XMR withdrawals. Also withdrawals closed for many months or years ... a regular exchange has max 24 hour maintenance. What more proof do you need? Only proof of the FTX style will come.

Etrensce

The burden of proof is on you to prove that exchanges operate on fractional reserve for XMR, not the other way around. And you post is lacking of any evidence or proof.

solarsalmon777

"OK, you can have bitcoin, but if you so much as look at XMR..."

Hurricane_Ivan

I'll be prioritizing the following (greatest to least): * LCX * QNT * LINK * XMR * ATOM Maybe a bit into LTC too.

Linux_is_the_answer

XMR, the only crypto I really believe in

enyo-ojo

XMR!!

MoneroFox

Look at the results of the public audit of XMR reserves: [MoneroRun](/r/Monero/comments/1c6y42z/results_of_public_audit_of_xmr_reserves_monerorun/)

FoolHooligan

Having a central figurehead like Charles Hoskins is a huge opportunity for social engineering. If Hoskins says so, he could move heaven and earth in Cardano-world. Maybe some next-gen AI could convice the institutions to really fuck up the network. Nobody knows who-tf created Monero, there was never a pre-mine, and it doesn't even go into the extreme privacy-by-default measures that the team has taken. XMR was built with security and decentralization in mind. To an extreme extent. It uses a mining algorithm called RandomX that is ASICs resistant, because ASIC mining was perceived as a form of centralization. I'm barely scratching the surface. You really should look more into it.

tldrthestoryofmylife

Might work on Vitalik, but not Charles. In the beginning, Cardano's "root keys" were held in multisig by seven child keys (Horcruxes) held by three different legal entitles with three different management teams. It'd still have been technically possible, but it'd take a *lot* of social engineering across different corps in different countries to do it. Not to mention, with the latest \[Chang\] upgrade on Cardano, we're now properly decentralized. Case in point, there's no "root keys" anymore; governance is handled by electorate system over different "members-based institutions" in a way that resembles the US, except it's *actually* decentralized in the way that the Founding Fathers wanted the US to be. >Where does XMR sit on the EDI? Not sure, but I imagine it's not much higher than ETH; any chain built with some other explicit \[or implicit\] purpose than security and decentralization, i.e., for the purpose of onboarding banks and other financial institutions in the case of XMR, would probably result in an apples/oranges comparison.

FoolHooligan

ETH and ADA are very susceptible to a [$5 wrench attack](https://xkcd.com/538/). BTC, not so much. People that try to compromise BTC have given up on the base protocol and are using layer 2's and derivatives to co-op. Where does XMR sit on the EDI?

FoolHooligan

wrong XMR is used all over the place [https://cryptwerk.com/pay-with/xmr/](https://cryptwerk.com/pay-with/xmr/)

Crib0802

Monero (XMR) IS THE BEST !

EndSmugnorance

Happy birthday to the king of privacy coins. XMR!

BRRGSH

All of the listed coins have flat fees, Some are fine, like XMR which is 1 cent. List here [https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums](https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums)

ScoobaMonsta

Monero provides its users with the luxury of complete deniability. This means that the onus is on authorities to provide the proof that any individual is doing something illegal. The user doesn't have to provide proof of innocence with XMR. There's nothing for authorities to pin on someone. With using BTC or any public network the user has to provide the proof that they are innocent. This is the problem with public networks! Any BTC that you own, you also own its entire transaction history! That's how authorities can hit you with charges. You own BTC that was involved in a crime! Prove to us that it wasn't you. This can't happen in Monero! There's no way to link a person to any coins or any transactions. The onus is on authorities to provide the proof. This is what makes monero fungible. BTC and any public network IS NOT fungible because of this very reason. Now in some situations people may need to show proof of certain things. Like a business that accepts xmr. Or a charity that receives donations and they need to show that its being spent appropriately Monero has view keys for this purpose. You can give the view keys to a wallet which will allow them to see all incoming transactions. You need to do some more reading on monero my friend.

gr8ful4

So you are a liar when you say you never had problems with using those CEX: HTX closed XMR withdrawals > 6 months, Poloniex several times insolvent has closed XMR withdrwawls > 6 months. Binance has closed XMR withdrawals > 3 months, OKX more than one year. KuCoin closed for months.

dannygladiolas

There already is a beta of atomic swaps between ETH and XMR. Something Vitalik likes to ignore.

gr8ful4

There are atomic swaps between BTC, ETH and BCH with XMR.

HairyChest69

Or a great store of value or privacy (XMR) under a dystopian government using AI to manage Your personal future banking?

Dartius

It depends on where the recipient is located, Kraken does not service all of Europe or Africa. If you’re talking about XMR then Kraken is already halting trading for it in certain regions.

FireFistTy

It's insane how little recognition XMR gets yet it is easily the most solid.

ForthInLine

100% XMR In the midst of a natural disaster or an economic crisis, I won't give or take anything else, not even gold or silver coins or bullion.

bleakj

I know I can mind Monero using XMR-Rig, but isn't this just CPU mining? Or is there actual node running that Im not familiar with that that functions different?

ziclon88

You can run a node and mine Monero XMR in consumer grade hardware like yours. But its not profitable unless you have cheap energy

Etrensce

The "this is good for Monero" shillers are largely the ones who are bag holding XMR looking for a 10x gain, not some form of stable currency.

Dartius

He would have to figure out what cryptocurrencies would be easiest for the recipient to turn into their local currency. There are a lot of cryptocurrencies which can do what he wants but the harder part is getting them back into the local currency. People say to use XMR but almost nowhere legitimate accepts it now because of all the criminal connections. In a perfect world it would be great to keep things private but governments do not like that.

hhtoavon

Is this a way to embed XMR data in Bitcoin?

Somebody__Online

I use it to pay my entire cost of living. I supply crypto to liquidity pools and then get payed incentives for doing that. I harvest the incentives and swap them for stable coins. The stable coins I pull out through Gemini and into my bank account. Paying income tax on them since the incentives are considered income. This needs to be reported as a separate 1099 in my taxes. I also buy online goods and gift cards with crypto. Usually stable coins as well. I buy Amazon, DoorDash, and Uber gift cards as well as steam and some stuff to give away to people. That’s on bitrefill. If I’m buying from deep web markets it’s also usually a crypto transaction. Mostly XMR. For the most part I use crypto to earn a living and then pay that living. I live in LA and rent a 2 bedroom apartment with my crypto income and it’s taken me about 8 years of active participation in these assets to get to this point. I also like to collect art and collectibles and do that with crypto some times as NFTs. That’s just for fun though and it’s more about the community and supporting creators than it is about making money or expecting a return. I have a pretty extensive Funko pops collection and a few pfp projects that have blown up in value over the years. Nothing too crazy.

CointestMod

#Monero Con-Arguments Below is a Monero con-argument written by FrogsDoBeCool. > cointest copied from Frogs do be cool (me) [https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm_source=share&utm_medium=web2x&context=3) > > disclaimer: I own no monero > > # Monero, some cons > > * XMR won't be adopted globally. > * Monero due to its regulation and straight-up banning on most exchanges, won't be adopted. It's pretty obvious why, but to spell it out more, people who can't buy monero, can't use it. Why not buy it on defi? it looks like defi exchanges may be able to be regulated too! meaning monero can't be exchanged for other currencies. > * The price doesn't do much > * That's because of the supply, as of now, there will be a constant amount of xmr made now than ever. That's fine as a currency, but now the price won't be doing 10x's or 5x's like bitcoin. That's great as a privacy feature and removes issues of 51% attacks, but at an expense of the price ever going up and staying up. adding to my point above, monero has no worth if it cannot be exchanged with other currencies, the price could be infinite, or $0, doesn't matter when nothing will be exchanged for it. > * its reputation > * XMR is known by people who don't own crypto as "the shady tax evader coin" or "criminal coin" and other things to do with crime. There's no doubt that in the crypto sphere the simplest fud can kill a project, remember Elon musk removing bitcoin from their payment systems? China, again, for the 45000th time... > * Its most popular wallet has some issues, mymonero > * a reddit user was quoted "I am constantly met with errors, crashes, and a frozen program" "My wallet froze and I couldn't even delete wallets or restore. I tried reinstalling and every time the problem would not resolve itself. I had to finally restore my seed on a different wallet." the response was not exactly the most in-depth or helpful. "We are aware of an issue when the computer goes to sleep or power saving mode and will be addressed in future patch." [src](https://www.reddit.com/r/monerosupport/comments/i22fd9/why_is_my_monero_wallet_so_bad_i_find_there_is/) > * the cons of monero are pretty intense, as regulation comes to push it down, other things like wallets that support monero, its reputation, and the tokenomics suffer. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

Thomas5020

I mine XMR then use it to pay for my VPN.

coinfeeds-bot

tldr; Kraken, a major cryptocurrency trading platform, has announced it will cease trading of Monero (XMR) for users in Ireland and Belgium starting June 10, 2024. From May 10, 2024, the platform will stop accepting deposits and trading of the privacy-focused cryptocurrency, with any remaining XMR balances being automatically converted to Bitcoin (BTC). This move follows similar actions by other exchanges and comes ahead of the full implementation of the European Union’s Markets in Crypto-Assets (MiCA) legislation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ziclon88

If you want to keep things private,/untraceable use XMR and localmonero.co as an offramp 

AdamFitri2005

How is XMR second