What is Monero? A Beginner’s Guide

Start trading Monero here: bit.ly/3aAPN8D
Monero is a private decentralized cryptocurrency that obfuscates the 3 parts of any transaction - the sender is obfuscated through ring signatures, the amount sent is obfuscated through RingCT and the receiver is obfuscated through stealth addresses. Monero uses XMR as its currency.
That’s it! If you want a more detailed explanation about Monero, watch the complete video. Here’s what I’ll cover:
0:47 - Privacy vs. Anonymity
1:14 - Bitcoin's privacy and anonymity
1:50 - Monero in a nutshell
2:20 - Reasons for a privacy coin
4:18 - Monero vs. Dash and Zcash
4:33 - How Monero works
4:52 - Ring signatures
5:11 - RingCT
5:36 - Stealth addresses
6:18 - Kovri
6:47 - XMR explained
8:14 - Conclusion
For the complete text guide visit:
99bitcoins.com/monero/
Join our 7-day Bitcoin crash course absolutely free:
bit.ly/2pB4X5B
Learn ANYTHING about Bitcoin and cryptocurrencies on our KZbin channel:
bit.ly/2BVbxeF
Still have questions? Leave us a comment in the comment section below

[@99Bitcoins]

CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻

[@timmoe3370]

I hope KZbin fixes this... lol

[@snozy4936]

I think the man was trolling the whole time. John really said "What if they cut the internet".

[@dfo990]

I still don't get how the system works if the miners can't check the previous transactions on the blockchain to know if the transaction is legit...

[@stevenlewin4129]

If your dumb enuf to send someone your crypto you deserve to loose it

[@supbruh]

The fact that you have to explain why you'd want privacy is the part that fucks me up.

[@dart4159]

Monero is what Bitcoin meant to be. Monero has all the stuff Satoshi Nakamoto intended to implement in Bitcoin: privacy, fungiblity and decentralization. Monero is what newbies think when they buy Bitcoin.

[@AgendaThiago]

@John Cena if they cut internet, you will have bigger problems than your coins...

[@Walter-mr5hd]

@John Cena Because everything is on internet and if you shut down it, economy colaps

[@Walter-mr5hd]

@John Cena The people are going to work. People make money. People usually don't starve. I don't see collapsed economy. If there is no internet, then depend of time. If it's on forever, then banks stops work, internet payments stops work. They can't cut internet.

[@JivanPal]

@John Cena, no problem, happy to help - feel free to ask any other questions you might have.

[@JivanPal]

@John Cena, did you even read my answer to your original question...? You already asked this question; go back and read the answer again. Also, why on _Earth_ do you keep writing "MONERO" in all caps?

[@lotubenou8755]

"Who need private currency" the question we should ask ourself is who DOESN'T need private currency"

[@usercos187]

@Beejay King lmao 🤣

[@firstpk]

I'm not criminal but I'm loving monero for the reason to keep my money from criminals aka government 😂😂

[@organicdudranch]

i do not trust any crypto, i have asked people if they have ever known a computer anything that couldn't be hacked ,have a back door or vulnerable to electrical interruptions, no answer... however i like Mcafee (he knew much more than most people about who really runs the world)and he liked Monero ,so i am willing to put some cash on that square. i do think he is right Crypto is not going away. and i do think it is a wonderful tool. very fungible. !!

[@SrChalice]

@@organicdudranch I'll trust the crypto over the government. What the fuq do you think taxation is? IT'S FUQING THEFT!!! man humans have become unbareable when it comes to the lack of knowledge y'all possess.

[@organicdudranch]

@@SrChalice its true crypto is by default better than the government ,however is crypto hackable ? is it vulnerable to power fluctuations ? are power outages coming ? i say yes. can the gov. get thru the firewalls and regulate everything ?? these are the questions i have had with crypto . no one seems to answer them well, i have had bad experiences with crypto,, i bought 1/4 bitcoin, after a few yrs i went back only to see that it was changed to bitcoin SV ..!! how did that happen ? that is 17 k i lost somehow, i have had other problems with coinbase, and no one to talk too about it. the US constitution says silver and gold are to be used as money , i will trust that above all things !!!!

[@Financiedera]

@@organicdudranch if you store your crypto in a cold wallet you don't have to worry about it magically being changed on you.

[@organicdudranch]

@@Financiedera always another trick to know. thanks for the info, i have never known of a computer anything that wasn't hackable,a backdoor that could be accessed by the good gov. or vulnerable to power interruptions. i will by some monero just as a gamble. i like constitutional money. does anyone ever follow that anymore ? it seems to be a joke, no 1st amendment , no second soon. we don't follow hardly any of it.

[@adhiana848]

thank you for explain monero in plain english

[@1018Stacey]

Nate, thanks for explaining the whole process of Monero. You made it a whole lot eaasier to understand!

[@FineBakedPastry]

So now that you understand the whole process, you can explain how transactions keep source/destination/amount private but at the same time prevent an account from sending coin they don't have.

[@janky_vagaries8486]

Thanks for this explanation! You were very clear and kept the video to nice bite-size for a beginner.

[@roadcamel]

I cannot wait for somebody to discover this video in 150 years for a laugh. "What is CASH?"

[@ahmedchaieb8366]

Thanks man i really love your professionalism

[@uekikosuke3601]

This is my favorite channel for crypto explanations he explains it with disected infos nice brother thank you for sharing the your power cuz knowledge is power 😁

[@alltogethernow2738]

👁️: Privacy of account balances and transactions is an essential enterprise-grade feature and prerequisite, for many real-world commercial deployments. 👁️: You don't want your competitors data mining a public blockchain and reconstructing your supply chain, flow of goods, pricing, balances, and relationships. 👁️: The same applies to many other industry sectors and use cases - commercial, personal, and public. 👁️: This will become increasingly apparent as the crypto/blockchain ecosystem continues to evolve and grow.

[@lupequinonez1174]

Monero XMR How do I get started, do I have to go Through any particular exchange, I’ve had nothing but problems with Coinbase. I lost a lot of bitcoin with them and starting all over again. I would like to buy into Monero. Just don’t know how to get started? Lupe

[@Aaronstotle]

@@lupequinonez1174 If you already have Bitcoin you can exchange it for Monero on a marketplace like TradeOgre or Binance . You can also sign up for Kraken, they have direct USD/XMR. If you have an iPhone, there is a Monero wallet called CakeWallet with a built-in exchange.

[@lupequinonez1174]

Aaron W Hi Aaron I used to have bitcoin it got stolen. I wanted to start all over again, although Coinbase will not allow me to do any more transactions they said they don’t have to tell me why, it’s very strange, I have like $10 of bitcoin to my name versus 50 grand. So now I need to find an exchange to transfer money from my bank account to the exchange so I can start buying and selling or trading. Any ideas? Lupe

[@BitKing_Ross]

Monero XMR i truly believe you are 100% correct on all points. Especially your secon point that entities want to keep all records private. Its how the system nearly functions now. Monero could essentialy fill in the gaps of our current financial system of gold and backed notes with its fungibility, accessibility etc., and further represent the true digital gold because of its privacy which bitcoin does not possess. Fully support Monero. The project is only at the begining because of the issues it fixes in Bitcoin.

[@TJDash]

The best channel for learning about Crypto. Other supposed 'Whiteboard' channels with fancy animations, just yells at you rapid fire, telling you things are very complicated so lets skip it, and then you are none the wiser by the end of the videos. This is the best channel, as you learn and don't get a headache from being new. Thanks.

[@codedeckz]

Great video, thank you for breaking it down!

[@hodltudemun7926]

Thanks for subtitle i was download all your videos and translate manually to indonesian language and i hope more smart everydays

[@TH-uw9py]

This dude is awesome. Subscribed.

[@kokoplum5419]

Thanks for all your hard work!

[@m.w.3692]

Is there a youtube channel that specifically focuses on Monero? That would be SO wonderful. I'm on The Crypto Vigilante KZbin as well. THANK YOU SO MUCH FOR THE VIDEO! Very helpful!

[@Intuition11111]

monero matteo is the channel you want

[@rumayayad4361]

Thank you for putting this up

[@aka5943]

Awesome video, so precise and clear.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere?

[@konradszczesiuk3345]

Very good video. Respect.

[@Randallsixx13]

EXCELLENT! Thank you.

[@domingodeanda6113]

That was pretty damn good, thanks.

[@Tuxcz]

Great video.

[@nira3188]

Well explained 👌 thank you 🙏

[@angelpeng7384]

Can you do a video on each of the top 10 market cap cryptocurrency ? Love your explanations.

[@burhall]

These tutorials ate perfect

[@timursaadak6637]

Thanks

[@getmonerodotorg730]

Good video.

[@BrianPex]

Where do you suggest to start when learning about cryptography?

[@mojtabatoo3059]

thansk for your info

[@amemabastet9055]

Ha! Thought as much. Monero is 'coin' in Esperanto. LOL when he mentioned Kovri. Thats 'hide' or 'cover'. In Esperanto. Interesting.

[@LaurenRuby]

Do you speak Esperanto?

[@amemabastet9055]

@@LaurenRuby Jes, mi parolas Esperanton! (Yes, I speak Esperanto!)

[@expensivetechnology9963]

I really appreciate the time and care you put into your explanations - thank you. Am I wrong...to think the Exchanges essentially thwart privacy/anonymity? I have to prove (beyond a shadow of a doubt) my identity before opening a Coinbase account. Then my every trade will be logged - regardless of the cypto I choose. Dreams of avoiding taxes or managing a criminal enterprise would require performing a person to person crypto for fiat exchange...wouldn't it?

[@randomuser66438]

The problem is aggravated with traceable currencies such as BTC because when you buy from an exchange, they can link the coin's ID to your real identity. If they do this with enough people, they can know who is transacting with who by reading the public ledger.

[@heyandy889]

yes the easiest way to buy bitcoin is ACH bank transfer on Coinbase. So your custodial bank, Coinbase, and likely your ISP will have knowledge of the transfer. just transfer the coin off Coinbase; at that point their involvement is finished. and, once you transfer BTC to monero, you're good - the balance is now obscured, and all future transactions.

[@AlmightySonoxo]

Mining $xmr right now 🙌🏾

[@photolunatic4552]

Thanks!

[@getmonerodotorg730]

Monero is the next Bitcoin.

[@patrickbrackin]

I'd love that ♾️

[@jasonsmith1577]

No it's the real Bitcoin

[@gonzalot.605]

@@jasonsmith1577 _Bitcoin was only the beta..._ *Monero it's the final version!*

[@Mikhailon2K]

Very true!!

[@justkaz16]

Cheers Nate!!

[@Definesleep938]

I think this guy has mastered the teleportation technique

[@GlennBindley]

What is the maximum amount that can be put into manera

[@Rodrigo-bv7uv]

Why is it hard to find exchanges that trade Monero? Is there any descentralized exchange already implemented? Is it possible to transfer Cryptocurrency from one exchange to another?

[@stevehen1000]

What is the best wallet to use for Monero?

[@FineBakedPastry]

Tin-foil hats and illegal activities.

[@tammesikkema5322]

@@FineBakedPastry or opressive governments

[@FineBakedPastry]

​@@tammesikkema5322 There are currently no oppressive governments that use Monero. There will not be anytime soon.

[@jerrydavis7130]

My Monero disappeared from my GUI wallet and I don't believe my seed was compromised because I am well aware of possible weaknesses, and my Bitcoin on Ledger Live and ADA is still there. I did some Monero mining before it disappeared. I reset my Ledger Nano S and reinstalled GUI wallet and after synchronizing, wallet shows zero balance again. If it was stolen, it must have been compromised at wallet level and I don't want to bother with Monero again. Any tips? Thanks.

[@JasonCWaite]

What's the best way to get started?

[@heyandy889]

(If you are American or using USD) Buy BTC on Coinbase using money from an ACH bank transfer (e.g. "linking your checking account"). Transfer all BTC to a local bitcoin wallet, or directly to an exchange. On the exchange (Binance, Kraken, etc etc there are many) trade BTC for XMR. Transfer XMR to a local wallet, you're home free. (Keep in mind that losing your private key a/k/a "send key" in Monero, means losing access to the coins. So back that up in a way you feel safe about; safe on a hard drive or flash stick, or print out on paper. Also keep that secure; anyone in possession of the private key has control of the coins.)

[@Shadowjedi007]

Why isn't this more popular?

[@Psychometriks]

WOW!!!

[@medotata5356]

Man, once cartels start trading in Monero, it's going bull

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere??

[@mohamedkosarmashaaallahjaz6052]

Nice

[@Medhead101]

What about speed of transactions with Monero?

[@99Bitcoins]

Monero has a block time of 2 minutes whereas Bitcoin's block time is 10 minutes. However, Monero users may wait for more confirmations before considering a transaction to be securely settled, so the larger the transaction the longer one should wait to consider it finalized. Monero has some definite disadvantages, yes. The main one is that it enjoys less acceptance than Bitcoin, which makes it harder to spend. If financial privacy is your priority however, Monero is a very good option.

[@thecryptoaggregator2505]

Great explanation but the problem with every privacy coin is when you want to translate it into Fiat. Privacy then is totally removed which is bad, especially if you're trying to avoid taxes

[@Medhead101]

Any disadvantages with Monero?

[@heyandy889]

Cryptocurrency as a whole is still a very new idea; the first Bitcoin software was released in Jan 2009. There could potentially be a flaw in the protocol, or the legal role of crypto, that is currently unknown. Further, cryptocurrency in general is very energy intensive. A lot of electricity, and therefore CO2 emission, is used for the distributed proof-of-work computations. Also some people find privacy suspicious. "If you have nothing to hide why do you care?" This is easily refuted of course; we don't like sharing our checking account activity with the world, we keep blinds on our windows, etc. But nonetheless, some people take a "guilty until proven innocent" perspective.

[@ballsmanjoe699]

Inflation

[@medotata5356]

I wonder does the whole process of privacy slow down the transaction rate or affect scalability?

[@ThomasNoname]

@@heyandy889 I don't like the "If you have nothing to hide why do you care?" argument, it's flawed in multiple ways. it's somehow wrong to have things to hide. I do have something to hide, doesn't have to be illegal for me not to want to share it. And even if it is illegal, that doesn't mean much, considering the law is not a moral compass.

[@blakesmith9039]

Seems like cash directly with monero would be the only true way to keep anonymous. Otherwise there are off ramps.

[@highbrass7777]

What happens if there is no internet, is crypto still viable?

[@guitarflash2049]

I see for now have not got any problems with buying Monero and with LTC also which I am buying through OWNR wallet

[@renaat100]

One thing I don't understand is that however the transactions and addresses are public, how can they link your identity to a Bitcoin address?

[@99Bitcoins]

When you sign up for an exchange, you give them your data and that's probably the easiest way for addresses to get linked to your real identity. There are a lot of other ways, like if you link your address on social media and your SC profile gets linked to your identity.

[@jaymesyt]

Does anyone recommend a long term investment in Monero? If so where is the best / easiest way to do so

[@heyandy889]

The most straightforward way to get Monero is probably to get Bitcoin first, and then transfer to Monero. Coinbase is probably the easiest way to exchange USD for Bitcoin. Once you have the Bitcoin, you can transfer to any exchange (Binance, Kraken, ...) and trade the BTC for XMR. Then probably you will transfer XMR to a local wallet, or a web wallet you trust.

[@heyandy889]

@@BaldMancTwat Ah, nice. :) I didn't know that any exchanges accepted USD for XMR. If that's the case, and you trust the exchange, then yeah, that's definitely a viable route. :)

[@-COBRA]

"Am I criminal if I lock my bathroom?"

[@ronzdreav]

Where can I find the token address please. I was airdropped 7 xmr but I cannot add the token in my wallet

[@Oivat]

Can you do a video or explain zcash please!!!!!?????

[@99Bitcoins]

Hi @Octavioleal1089, Here a detailed article that covers Zcash - 99bitcoins.com/buy-zcash-zec/ And here is how to do Zcash mining: 99bitcoins.com/zcash-mining/ A video may be in the works in future :) I hope this helps!

[@JeffreyBuchanan8]

What if I buy Monero on Coinbase?

[@jeffreyd508]

Is sending XMR from one exchange to another traceable? Does it have to go through a Monero wallet to break the trace-ability? What about Exchange to Trezor to another Exchange? (I'm new to xmr, and trying to learn)

[@99Bitcoins]

Hi @Jeffreyd508, Monero transactions are not directly traceable due to its built-in privacy features, unlike Bitcoin or Ethereum. It has privacy-enhancing features like Ring Signatures and Stealth Addresses. These technologies obscure transaction details, making it difficult to link senders, receivers, and amounts. Exchanges may be subject to regulations requiring transaction tracking. While the trace cannot be conducted through the blockchain, sending XMR from one exchange to another is traceable. Exchanges often have KYC/AML procedures that link your identity to your XMR transactions. Internal records may also allow exchanges to track XMR movements within their systems. To break the traceability, you can withdraw Monero to a personal wallet. Withdrawing XMR to a personal wallet (not Trezor, which doesn't support XMR) before sending to another exchange can help break potential links. Using CoinJoin services can further obfuscate transaction details. Consider these Privacy Best Practices: - Avoid reusing addresses. - Consider using multiple wallets. - Use VPN or Tor for enhanced privacy. I hope this helps.

[@jeffreyd508]

@@99Bitcoins Thx for the detailed response. Clears up a lot 1. Trezor T supports it. Exchange to Trezor T to another exchange will break the traceability? 2. I read many commenters complaining about xmr conversion fees or something similar. I see that its cheap to withdraw from exchanges and transfer fees. Am I missing something?

[@99Bitcoins]

@Jeffreyd508 - yes, you are right. I may only add that to completely stay anonymous, choose an exchange that doesn't require KYC, like bisq.network/

[@cristianbejan1970]

Cool! Would love an update on Monero. Bitcoin is about to improve its privacy so i'm wondering if that will make Monero (or other privacy oriented projects) less appealing in the near future

[@godfather7339]

U want an update? monero is kinda shutting down

[@cristianbejan1970]

@@godfather7339 god level stupid

[@godfather7339]

@@cristianbejan1970 doesnt let me post links so:(remove the z's) xmr Z .to Z /blog Z /job-done

[@cristianbejan1970]

@@godfather7339 I think your brain is shutting down

[@MagikBased]

What blockchain does XMR exist on?

[@coffeedude]

The monero blockchain

[@TheRealJaded]

Coolest coin.

[@kapppz]

I'm a complete Nube so bear with my ineptitude but how do I create a wallet.

[@99Bitcoins]

Indeed, the recommended way for newcomers is to download the correct wallet for your system from the "official" website: web.getmonero.org/downloads/

[@awangjeme2531]

Monero project will be future crypto

[@TheHolyEagle33]

can monero be implemented or programmed as a ethereum based currency?

[@99Bitcoins]

You mean implement Monero's ring signature model within an Ethereum token? I'm not a crypto coding expert, but my best guess is "no." Ethereum's blockchain is not designed for privacy so I don't see how it could mesh with Monero's privacy functions. It might be possible to create some kind of Frankenstein system but I very much doubt it would deliver anywhere near the same degree of privacy and performance as regular Monero.

[@TheHolyEagle33]

@@99Bitcoins Can you do it the other way around? Make a Monero based etherium coin? Ethereum is being promoted by some banks, thats why i ask. Monero as base might even be better if it is to be possible.

[@cosmosaic8117]

@@TheHolyEagle33 0x coin can potentially solve your issue. Look into ZRX.

[@zoltankiss1130]

Monero is an esperanto name not stupid englush therefore I love it.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere??

[@alantew4355]

Can privacy coins be made compatible with anti-money laundering? Is there a way for a cryptocurrency to ensure the privacy of its users while at the same time prevent it from being used for money laundering, terrorism, tax evasion and illegal crimes? A way to avoid broadcasting how your spend your money, but still allows the relevant authority to investigate any suspicious activities?

[@rajaking5030]

Please explain about beldex coin and it's feature

[@billbooth2577]

So monero should be an easier starting crypto currency as you can successfully mine with your own computer without needing to invest in an asic miner which you would probably need if you were wanting to mine bitcoin to any real profitability??? Would you guys say that's about right???

[@99Bitcoins]

Well, it depends on what kind of system you have. Don't expect to make any kind of huge profit, even from a modern system. However, mining is a great way to learn about how Proof of Work blockchains work so yes, it's a good idea to try it out.

[@walangwala3116]

is monero still existing?

[@westsan]

Where can I buy Monero in NYC?

[@99Bitcoins]

It's usually easiest and quickest to buy Monero from an online exchange. You can find a list of exchanges which offer Monero here: coinmarketcap.com/currencies/monero/markets/ In my personal opinion, Binance or Kraken are reliable and trustworthy exchanges. If you'd prefer to buy directly from an individual, which is the more private way, you can check out a service like Bisq.network or Localmonero.co - although these options may be a little more difficult, slow, and / or expensive.

[@westsan]

@@99Bitcoins Thank you

[@eliasfaklaris]

Check out Agoradesk

[@tanmaybhattacharya9749]

Korvi just sounds like Tor to me.

[@freetrader8283]

Could you do a video about using privacy coins to prevent that thing that begins with 'T' and ends with 'X'? And Crypto t*x as a larger topic? I don't know what I'm supposed to declare, what the government claims to have the right to steal, etc. Surely you can use, say, Monero to cover your tracks. And how do they pin certain wallets to certain people? This seems impossible, I don't know why anyone pays t*x on their Crypto.

[@heyandy889]

in monero your balance is hidden to everyone but you (who has the private key). your tracks into monero (via fiat, BTC, whatever) will be visible, technically. whether anyone bothers to look is another matter. it will be up to you to determine an appropriate level of op sec.

[@FineBakedPastry]

If you have money that you want to keep from getting taxed, "tax avoidance" is not illegal. You can create a 503c1, you can make shell companies, you can shuffle money around to friends and family by giving them jobs as "consultants" or directors of shell companies, etc. Tax evasion on the other hand is illegal. Using monero or any other system of hiding your gain from the public is tax evasion.

[@BestMusicHits]

Do people actually buy using monero?

[@mattkeck4008]

lol you have a lot to learn

[@BestMusicHits]

@@mattkeck4008 no lie yes I do. I still don't understand it 😶

[@mattkeck4008]

@@BestMusicHits Monero is one of the very few that has real world use right now. The darknet considers Monero to be king.

[@FineBakedPastry]

"you might be asking yourself who really needs a private coin?" -- No. I want to know how a transaction for a given sum can be allowed to go through if the total sum cannot be verified... How can you even think about verifying the total sum if you can't even figure out what is the source and destination accounts?

[@hermanodejesus7264]

Best Monero Wallet anyone? Thx.

[@99Bitcoins]

I would go with the "official" Monero client available at monero.org/downloads/

[@hermanodejesus7264]

99Bitcoins thanks for the reply, much appreciated 👏🏽👏🏽👏🏽

[@akshaybansal6675]

How to obtain monero?

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere??

[@GreyRock100]

99 Bitcoins: hey, $20 is $20

[@user-ji5dv3ni3w]

people can sell Monero on Satoshily Exchange

[@u235u235u235]

why is it pronounced with MA sound but spelled Monero?

[@koberccerveny4521]

Monero is king

[@hayleylewis1458]

Why has Minero been banned from most exchanges

[@drekson23]

this characteristics are what law enforser are targeting to regulate, so in the future they will be starting to target these coin no matter what.

[@sheshotjfk8375]

How will they target it? (serious question) if it is "decentralized" and on a "blockchain" and it is private. Wouldn't there pretty much be nothing they could do? Except maybe ban it at the merchant level at like grocery stores?

[@tammesikkema5322]

They literally cannot stop it. They can only say it is forbidden to use it. Words are wind.

[@Medhead101]

Can governments enforce a ban on Monero or any other cryptocurrencies for that matter?

[@realsushrey]

Yes, it can. Whether or not such a ban will be constitutional, differs from nation to nation. For example Indian Government plans to impose a blanket ban on all cryptocurrencies, but hard to say will it sustain the test of law. So, far the Government maintains that Rupee is the only 'legal' tender in India. That means, transactions can only be assumed to be fulfilled if they happen in form of the Rupee. Keep in mind India has a moderate Democratic Government with high constitutional security.

[@heyandy889]

look at how well they're doing banning sharing of copyrighted material, that should give you an idea of how well law enforcement controls software

[@heyandy889]

@linlinö önilnil yeah that's what I meant - ever since DMCA in 1998, uploading copyrighted content has been illegal. Enforcement has not really... worked, ha ha.

[@ThomasNoname]

As long as governments require you to pay your taxes in their issued currency, they can ban it, and it will work. If a crypto currency ever took off, despite this, it would mean the complete anarchy of said country, or the much more unlikely scenario, they would say uncle, and accept crypto as legal tender.

[@ritcheymt]

So if there's no limit to the number of Monero/XMR that can be mined, then this crypto will lose value just like the U.S. dollar which is continually printed, right? The only limitation with XMR that the dollar does not have is the number mined/printed within any given period of time.

[@VitruvianVictor]

monero is on the comeup. when atomic swaps are implemented, monero will moon

[@MetaFootballTV]

I'm interested in investing in Monero. What does XMR price depend on? Thanks!!

[@MetaFootballTV]

@@JivanPal Yes, I am new to this crypto shite, which is why I am asking. Thanks for the info, nonetheless.

[@JivanPal]

@@MetaFootballTV, please let me clarify that I mean no offence by making that remark. Instead, I intend to highlight the fact that your question does not relate directly to cryptocurrency, but basic economics - it's not "crypto shite" in this case that you need to learn about, but "money shite" in general. As such, beware the markets - if you go into them with such naivety, you will likely screw yourself over financially. If you are still interested in these topics, I do of course encourage you to study them. Just ensure that you perform your due diligence and research before committing to any investment, be it cryptocurrency or otherwise. Just trying to warn you; all the best.

[@MetaFootballTV]

@@JivanPal I understand supply and demand, I just don't understand how cryptocurrency and S+D are related, hence my question /doubt. We are not all as versed as you nor have mothers with genius sons upon birth, so... apologies for being sub-standard. I will take heed and protect my pennies........which I hope can be used online.

[@JivanPal]

@@MetaFootballTV, do you understand how fiat currencies like the Pound Sterling and the US Dollar are valued on regular foreign exchange markets? If you understand this, then you understand how cryptocurrencies are valued, too. The reason that I am flippant/blunt with my answers to these kinds of questions is that 99.9% of the time they are asked by newbies who have no interest in the technology, nor any interest in investing beyond "I heard about the recent 8x price increase from my friend and so it sounded like a good thing to sink my money into". Such people don't even _care_ to understand the technology or what investing entails, and are simply extremely likely to lose large amounts of their savings if they aren't explicitly told "you will screw yourself over with the sheer extent to which you are suffering from the Dunning-Krueger effect". That isn't to say that you are such a person, but when you simply ask "how is the value of cryptocurrency determined?" with no surrounding context, it certainly makes you look like such a person at first glance. Far too many novices in the space are unfortunately scammed for me to really care about some hurt feelings; rather that than lose your precious savings, no? * * * *_"We are not all as versed as you, nor have mothers with genius sons upon birth, so... apologies for being sub-standard"_* No one said you are sub-standard; if you choose to interpret what I say in that way, then so be it... No one is expecting you to know things immediately, either. Do you not think that I was a novice in these areas sometime in the past, too? I made my first foray into Bitcoin back in 2016, having heard about it for the first time around 2011, and I was, of course, no expert at the time. But most questions like yours can be answered with the aid of Google, time, patience and reading. Asking questions in comment sections with the hopes of receiving sufficiently detailed and accurate answers (rather than the uninformed, misleading, or even intentionally deceitful answers you will likely end up receiving instead) will not get you very far. If you choose to perceive my comments as condescending, then that is one thing - and I am, of course, sorry, as that is not my intent. For you to consciously condescend me in response is another thing, though; _conscious_ condescension breeds panderers and enemies, not friends.

[@MetaFootballTV]

@@JivanPal I'm a noob. Sue me. However, one could be an investor, a trader, or both, which are ligitimate in their own right. Yes, you ARE blunt, but you DON'T care about people's money, you just care to be BETTER than others because you know more than them on a particular subject. Then, you raise the DK effect, which is convenient as it is quite recent, which seems to be an attempt to bolster your self esteem/heightened position over me. I think you like to feel you are in command, as lack of control makes you uncomfortable, regardless if whether you have it or not. I know full well to never get into a situation I can't get out of. I may SEEM like a fool to an expert of your magnitude based on an innocent doubt /question, but I'm not.

[@mimira898]

Yiu

[@organicdudranch]

i do not trust any crypto, i have asked people if they have ever known a computer anything that couldn't be hacked ,have a back door or vulnerable to electrical interruptions, no answer... however i like Mcafee (he knew much more than most people about who really runs the world)and he liked Monero ,so i am willing to put some cash on that square. i do think he is right Crypto is not going away. and i do think it is a wonderful tool. very fungible. !!

[@rajutolani9012]

Hi can I mine bitcoin n earn money through my laptop

[@iant419]

Yes but you'll pay more for electricity than you'll ever make mining.

[@moremail8660]

Never forget the Canadian truckers.

[@Galaxia53]

I'm put off every time I hear there is no limit to the amount that can be mined

[@mattkeck4008]

That’s an ignorant way of looking at it. Do some research and you’ll see why.

[@sheshotjfk8375]

@@mattkeck4008 If it's so IGNORANT then why don't you go ahead and explain it. I am waiting.

[@mattkeck4008]

@@sheshotjfk8375 It’s a zero rate inflation. It ensures network security. But don’t believe some random guy on the internet. Do your own research.

[@ThomasNoname]

0.6 Monero every 2 minutes is less inflationary than gold, monero won't overtake bitcoin in amount before 2040. The decision was made for 2 reasons: Lost coins, which has happened with bitcoins, people who lost their hardware wallet or hard rive or whatever else. And to incentive miners to keep mining. Ethereum is also infinitely mineable, and look how big that became. A set scarcity is not all there is to make an effective currency.

[@spicyelevators1127]

Who else bouta buy some drugs

[@Zoe-go6nw]

Please start Zerocoin and Zcash!

[@idkfpv6435]

lol that example about bathrooms got me fucked up... and why don't all the markets just all switch to monero if it's that good? obviously using some sort of middle man in the process if possible

[@InfluenceThaPoetDOPE]

Here after Biden proposed his Bitcoin tax. Called it like a phone number my man

[@ithound]

Really clear and helpful. Would you like to cover PEOS which uses Monero and is built on the EOS blockchain?

[@junkaccount2535]

This sounds cool but the price is what turns me off. The reason bitcoin is so popular from an economic standpoint is that there is a fixed number, but XMR can be mined by any computer, at any time, for any reason. This would make the price of bitcoin rise and the price of Monero fall, like the American dollar in the past 100 years. When the banks were backed by how much gold was in Fort Knox, the currency was worth way more than when the banks started printing money they couldn't cash. Here we run into an interesting problem, because its a currency like the USD that is not backed by anything, but can be continuously generated. The only value given to it is the fixed price that companies put on it. That doesn't sound sustainable, but I'll definitely look into it before it booms and drops.

[@mattkeck4008]

Sounds like you haven’t done your research. While technically that is correct, it’s very misleading. I’m not going to try and explain tail emission to someone who probably doesn’t care, but if you’re interested there are plenty of resources to help you understand.

[@usercos187]

if the inflation rate is low, the downside is not significant

[@Cravenmooreheadism]

Monero is what bitcoin was supposed to be lol shit Monero is the going to be the next bitcoin.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere??