How Monero Works (And Why its a Better Currency Than BTC)

[@Calajese]

"Small percentage of people control about 90% of the world's supply of bitcoin" That statistic sounds kinda familiar

[@mitchelvalentino1569]

@Blaxer XO criminals also hold dollars, euros, and yen :)

[@Thuruigi]

Based

[@du42bz]

Yes, Capitalists are also criminals

[@mobrine8659]

@Blaxer XO How do you knew people are not using it for everyday activities? Even if some use it for illegal activities, It's like you are saying a currency is not good if there are people using it for malicious activities, there are always people doing that, be it cash or crypto. In fact money bills can be easier to launder than crypto

[@ekksoku]

@@du42bz "Hello friend, I've farmed one potato, I see you have farmed 3 small radishes, would you like this potato in exchange for your radishes?" *two capitalist criminals, facilitating exploitation*

[@josebr0]

"Monero is what you think you get when you buy bitcoin."

[@yourmum69_420]

how do I buy monero?

[@Ok-gz7vx]

@@yourmum69_420 with bitcoin

[@yourmum69_420]

@@Ok-gz7vx but doesn’t that defeat the purpose if Bitcoin is traceable? Also how do I even buy monero with Bitcoin?

[@kjullthedemon]

@@yourmum69_420 I'd avoid Bitcoin altogether, it's a terrible coin, with all the altcoins. i buy Litecoin directly, then buy Monero with my litecoin, since litecoin has cheap transaction fees unlike bitcoin.

[@yourmum69_420]

@@kjullthedemon thanks, but how do you buy litecoin? And how do you buy monero with the litecoin?

[@lishievoros9970]

I always tell people that bitcoin was just a proof of concept

[@knowledge_harvester]

The problem isn't btc itself but rather centralized exchanges, bitcoin in general is more secure than monero and is way more decentralized too that's why people choose to put billions of money in bitcoin and not monero, the reason for that is because monero's fees are so cheap that theres no incentive to miners therefore monero's network is unsecure to 51% attack, then comes the hardness to find a bug in the moneros network simply because it's "private" and no amount of reading the code or doing math will be able to spot this, Also bitcoin is more scalable with 2nd layer while monero simply can not due it's difficulty in scaling with the complex rig signature. Anyways there's no such a thing as second best bitcoin, bitcoin is the king and will remain.

[@mgord9518]

@@knowledge_harvester Bitcoin is one of the most centralized cryptos out there, people put billions in it because it's the most popular. If BTC is so decentralized, then why is the #1 choice for small and large miners Etherium by far?

[@knowledge_harvester]

@@mgord9518 learn how to english and start elaborating your thoughts clearly and effortless then we can talk about. Bitcoin is the most decentralized crypto out there and there's no amount of retardation to change that, simply because there's no company controlling bitcoin, nodes everywhere and miners everywhere, if certain miner company goes down that mean the hashrate is lower so anyone can mine it with low GPU's.. you're totally uninformative and should review your knowledge. Ethereum is the most centralized shitcoin ever! it functions as a company but it's a "cool company" right? It has team devs, a dictator and a CEO, addresses of houses and so on.. let alone the amount of control they have upon their shitcoin with reversing transactions features and so on.. Bitcoin haven't change in 10 years and that's the whole point of it, imagine putting your money into something that change every month, how is it even secure?

[@squigglesmcjr199]

@Quan Bui not to mention the dead coins

[@diocre7446]

@Quan Bui it will not be expensive. It will be a law to implement proper pricing to service.

[@wacesferpit]

My main issue with crypto is not something that can really be fixed with architecture, it's simply how people only really use crypto as some stock market/get rich quick thing, which incentives having a high fluctuation, making so it's really hard to be used as actual money, as values can change on the thousands of dollars daily. Also there still is almost no [non-shady] place where you can actually buy goods with crypto, only exange it for 'real' money or other crypto

[@Invisible12345ful]

That is what USDT is for

[@sirnikkel6746]

*Sad Silk Road noises*

[@noahpaulette1490]

Many bullion sites are starting to accept crypto. So you can actually convert it to real money like silver and gold. Imo most crypto are ponzi schemes that require more more fiat to grow in value and with no telling what it's value would be in the inevitable event of us dollar hyperinflation.

[@noahpaulette1490]

@@Invisible12345ful nobody wants that cbdc prototype kek.

[@Grognarthebarb]

You need people to start using it like money. Like places need to start offering a service or product that always stayed the same cost of btc regardless of btc value In dollars maybe you completely eliminate mining and just keep trading the same coins around. Can't inflate or deflate if you don't add or reduce coins but the main thing is you need to stabilize it with online or irl services which is risky but adopting new currency was always risky but was always done because it was always forced

[@jonm.8676]

This video renewed my confidence in crypto currency being used for every day transactions.

[@usercos187]

also take a look at bitcoin cash (bch)...

[@slym741]

@@usercos187 why?

[@TheSuperBoyProject]

@@usercos187 bitcoin cash sucks

[@natansandle9284]

I suspect the moment it (or any other alternative for that matter) reaches the mainstream, it will immediately become a speculative asset with extreme fluctuations in value, rendering it just as unusable for this purpose as Bitcoin

[@vargdog6602]

Not gonna happen when CBDC from the banks and central banks is implemented world wide.

[@OrgoneDevices47]

Monero will one day be known as the Internets Cash.

[@RadikAlice]

I don't even hold any, but man I hope so. Funny how I started to think of BTC as the Internet's dollar

[@testing119]

I sure hope it does.

[@juri8723]

already is

[@bunbohue369]

it is, that is how I do remittent abroad, second to BUSD.

[@nac9880]

Bro tip: It won't.

[@Hexagenium]

Monero is the swiss bank of Crypto and will only go up. XMR doesn't have "better fungibility" It is completely fungible.

[@destroyedtelephone4124]

Sadly swiss banks aren't what they used to be now smh

[@cautarepvp2079]

@@destroyedtelephone4124 what do you mean?

[@TheSuperBoyProject]

@@cautarepvp2079 they don't allow you to deposit money without proving where they came from.

[@BeastinlosersHD]

@@TheSuperBoyProject To add, this has to do with America's citizen tax laws (fatca) that made foreign banks report American citizen's assets for tax purposes. Following this, most of the world decided to do the same (CRS), except America didn't join that agreement. So counterintuitively, depending on the state in America, it makes more sense to hide money in trusts in America since America will never send financial data to other countries tax systems. But this isn't useful for illegal money, just keeping it private and transferring money around privately as if its a Swiss bank of old.

[@zeroounce8874]

kzbin.info/www/bejne/nJnRqZ5vn95qj5Y

[@dallasupton]

Yess!! Monero is basically what people think bitcoin is

[@CenturionKZ]

@jasondt02 you're shouldn't have to, cause Monero is still extremely cheap for its value, imo

[@dmvconartists1855]

they think bitcoin has an obfuscated black chain? Damn hey btc guys tumble ur coin if nothing else..

[@kennyotsu4357]

For a second I was like whot and then came the realisation

[@lucamaxmeyer]

without the scarcity so prob. not

[@Techonsapevole]

Monero is the true Bitcoin, this is why regulated exchanges do not add it :)

[@internetceo]

If you use that logic, you should buy dogecoin :)

[@SafetyLucas]

@@internetceo TBH dogecoin has been a great investment. People always roll their eyes at it, but it consistently hits the tops of the charts.

[@internetceo]

@@SafetyLucas Compare to btc price, not to dollar. Your investment lost 90% value.

[@TehObLiVioUs]

except KRAKEN, a good exchange who actually understands monero.

[@Basement-Science]

@@SafetyLucas dogecoin basically shows you that any garbage can become "valuable" with enough hype. It is an exact clone of Litecoin, which itself is pretty much outdated these days from a technical perspective, just like bitcoin.

[@nekoill]

Omg I've been subscribed for like a couple of months, and not only I got answers for basically all the questions I had and then some, my man also teaches me how to work out without gym membership, cook steak, understand crypto currencies and I'm a little scared to even think about what else I can learn here. It's just incredible. The only thing I can say is I gave up on vegetarianism just in time, otherwise I'd feel guilty for not taking my dude's advice. Thank you so much once again, Kenny, you are the Dark Knight of KZbin.

[@gayusschwulius8490]

He really pushes all the buttons. He is like a more ideal version of me in all his interests.

[@opensourceis9996]

@chich bich Wait, why? Why shouldn’t we be vegetarian?

[@JH-jk3nm]

@chich bich idk bro u sounding pretty cult like right now. you believe people telling you what is best to eat is cult like, but you do the exact same

[@JH-jk3nm]

in addition, while not a vegetarian my self, it doesn’t take a genius to see that the beef and dairy industry is incredibly inefficient and harmful to the environment, if we want to go carbon neutral (we do) then it’s gonna have to cut back significantly

[@opensourceis9996]

@chich bich I don’t eat meat because it’s really harmful to animals. They don’t deserve to die for our selfish wants. I also recently quit eggs as the process for getting them from chickens is truly horrific

[@byvtrx7766]

For me Monero is just nice because of the very small transaction fees. You can send small amounts of XMR without paying like $20 in transaction fees.

[@cgyh68748]

ikr

[@josir1994]

I would say the first criteria for a good currency is a somewhat stable value, and that's probably the biggest problem of all cryptos

[@Blenzo480]

Stability won't come until mass adoption and mass adoption won't come until stability.

[@MRJMXHD]

@@Blenzo480 Paradox

[@LuciferVontell]

​@@Blenzo480 in other words it's never coming 😄

[@Blenzo480]

@@LuciferVontell I don't believe stability matters. My eyes will be on El Salvador during the next bitcoin halving. That country may become very wealthy.

[@LuciferVontell]

@@Blenzo480 you replied to the wrong person you were meant to reply to @josir1994 that person's comment 😄

[@materialknight]

Trivia: 'Monero' means 'coin' in Esperanto, a constructed living language with few speakers that was once considered a possible universal language, but whose adoption was thwarted by the french, back when French was the de facto lingua franca, before English took over that role. People who speak Esperanto usually praise how easy it is to learn it. However, it is not true that it is equally easy for everyone to learn it; as with any language, it depends on your background (it is easier if you know some romance language), and it forces you to learn to think in a different way; it is proof that even in very simple languages, you have to practice consistently (it is true, however, that it's many times easier than English; with a good method, it is possible to be fluent in a year). But Esperanto's real strength is its regularity and its philosophy: It is not as easy as they sell it, but it is very regular, so any rule or pattern you learn can be extrapolated to any analogous case with no enforceable exceptions. This means: In non-constructed languages there are lots of exceptions, and these are mandatory; in Esperanto, there are some exceptions (non-logical ways to say things), bc these were inherited from the first speakers, who unintentionally imported them from their mother languages, and by custom alone, these can't be considered errors, but there is agreement in the community that whenever you find a more logical way to say things, you can use it, and nobody has the right to 'correct you'. The above has caused the interesting result that Esperanto is now more regular than it was at the beginning, bc whoever learns Esperanto acknowledges that learning a non-constructed language is very annoying, that grammar n4z1s are very annoying too, and that having a complex language is a means of discrimination (did you know that the much hated and conservative Académie Française admitted back in the day that French was regulated to be so irregular and difficult to learn, precisely to distinguish the noble educated man from the peasant?), and thus, that having enforceable exceptions defeats the whole purpose of Esperanto.

[@The-Singularity-X01]

Thing with language is, it's 'easier' to learn languages that are similar to your mother tongue. If you speak any of the languages that are derived primarily from Latin, then its easier for you to learn the other languages in that group. So lets say your a French speaker and for some reason you want to learn Mandarin, well it'll be much harder than if you were trying to learn German or English!

[@materialknight]

@@The-Singularity-X01. I mostly agree. However, I think it's not always the case that a language of the same family, and similar structure to yours will be easier. In my case, my mother language is Spanish, but I can speak and understand fluent English and Esperanto (whose "spirit", "way" and structure are different to that of Spanish), but I find French impossible to master, despite it being derived from Latin, belonging to the same family as Spanish, having similar structure to it, plus several similar words. I've been investing quite some time on French, and I still feel there is a long way for me to achieve fluency. The R sound still feels uncomfortable to pronounce, there are too many very similar vowel sounds whose distinction is important (unlike English, where you can botch the pronunciation quite a bit and still be understood), and conjugation and orthography are a huge, monumental mess.

[@AqRqTq]

Thanks for the great video! As an XMR holder and buyer since the project started, I love seeing people realize how truly powerful it is compared to Bitcoin!

[@oldgrub]

that means you lost around $300?

[@double0cinco795]

Dude, just the other day I was looking through your videos trying to find a Monero video. You're reading my mind. So shook right now.

[@Nejtak853]

No one is reading your mind except KZbin’s algorithm

[@korchevatel]

That's a Ukrainian coin on the thumbnail, BTW. It says "25 копійок" - and it's already been withdrawn from circulation!

[@tenebrae711]

Теж помітив це, знав, що хтось вже написав коментар)

[@snowman2283]

я шукав цей коммент

[@vesstig]

Ive been mining Monero since I heard of the potential and cant wait to see where it heads, some projects are real draws when they actually incentivize decentralization

[@bulbouspeach6270]

6 months later: how’s it work out?

[@willidk628]

Yeah, I'm curious as well.

[@false_purple4425]

One year later. How'd that monero work out for you?

[@24sentury78]

you solo mine?

[@Anonymous4045]

Update: the feds got him, he mined too much.

[@willmartinez445]

Actually the amount of Monero being mined will get so small that it’s gonna take literally a century to go past 1 million. So yea you can mine more monero but it’s gonna be only .06 so very minimal.

[@makischristou7549]

*0.6

[@Azhi3r]

So the price is not gonna go up?

[@squigglesmcjr199]

@@Azhi3r price is going up plenty of cpus and solar panels, these guys just looking at immediate ROI, im looking to collapse the current financial system by mining, im not trading the monero back for dollars ever.

[@DaveSmith-cp5kj]

@@Azhi3r Money has value because of scarcity. Less monero to mine, more valuable the monero is and higher price each monero will go for. This is why the government spending money hurts people, because with more money in circulation or printed, it is less rare and thus less valuable, and this is called inflation.

[@Ironpancakemoose]

8:15, its relieving to finally hear someone on YT say that a fixed supply is not good for BTC. Any economics major would tell you that deflation (value of your currency increasing) is bad, and for BTC its disasterous. There's no point in me spending BTC if it appreciates in value while sitting in my wallet. Thus, the hording of BTC will continue to grow until the market becomes illiquid.

[@oshi313]

Is there a sort of name for this topic to research on?

[@LESLEYYY0]

Then you have ETH literally burning it's supply

[@mystifiedoni377]

This doesn't account for time preference, or the preference of wanting something now rather than later. Do you really think that with a deflationary money, people will live at absolute subsistence their whole lives because "I could get that thing I want cheaper next year"?

[@marianomontiel]

@@oshi313 yeah. It's called modern monetary theory, and a very well researched topic btw. Thats why most countries aim for a 2-3 yearly inflation rate.

[@marianomontiel]

@@mystifiedoni377 it's not that people will save to next year. It more like there is not an actual incentive to spend the money you hold. Now add a little sprinkle of inflation to the equation and people suddenly start having more motivation to consume. Consumption is the essence economic growth

[@hedgeearthridge6807]

John McAfee was able to escape the law so long with help from Monero. They got him last year though. Never Fogret

[@leisureclub_]

so it means Monero could not save him :D they eventually got him even he was using Monero

[@CenturionKZ]

@@leisureclub_ but that was his fault, not Monero's

[@RevanLaughs]

@@CenturionKZ yeah that guy was doing a lot of crazy stuff, he could’ve been using smoke signals as currency and he still would’ve been nabbed

[@jakepaul3895]

@@leisureclub_ l

[@attilatorok5767]

@Sage LaRue the glowies got to him

[@extraspecialk3244]

as much as I love monero, I worry it won't reach mass adoption. Other crypto networks pack in other features. Like with ETH you can also host sites or apps.

[@saturn724]

Well yeah monero is not a platform, just a token to trade goods and services. Still that is not the problem tho, the problem is will governments even allow a privacy coin to be used. If not, then you will just be part of a black market.

[@mattkeck4008]

@@saturn724 do governments ban cash because they can’t trace it?

[@saturn724]

@@mattkeck4008 There's a reason criminals do money laundering, illegally obtained cash is not easy to use at large amounts.

[@mattkeck4008]

@@saturn724 ughh, I say we stop pretending like the government has any power whatsoever in cyberspace. If they do ban it from all centralized exchanges then people will use bisq, or peer to peer trading platforms. It will hurt in the short run, but in the long run it will just make monero stronger.

[@ekki1993]

@Matt Keck While you're right about there being workarounds, the original comment was talking about mass adoption of the coin.

[@gregmargin6509]

Please make some tutorials on how to get started with crypto. There is so much confusing info out there and you seem to be very educated on the subject. Thanks

[@djdeetsdroppingthosefunkyb1236]

Fun fact: Monero is Esperanto for "coin".

[@jcs27]

Fun fact: Esperanto is a failed globalist idea

[@JivanPal]

@@jcs27, fun fact: nobody cares. It's useful, just like cryptocurrency. Whether you want to use it or not is up to you.

[@Brutal_Warlord]

fun fact: you're gay

[@Nondas8552]

Oohh makes sense

[@JivanPal]

@Ayu sh, a constructed language (a language made up by people intentionally) based on European languages, intended to be used as an auxiliary language (a language that serves as a middleman for translation or cross-language communication) or lingua franca (a language that is used by the masses and thus is commonly used for international matters, as English commonly is nowadays). It was exceedingly popular in the '80s and '90s - many TV shows from that era have Esperanto subtitles and audio dubs. Other such languages exist, such as Interlingua, which haven't caught on anywhere near as much as Esperanto did. P.S. I think "monero" is derived from English "money" and Spanish "dinero".

[@sirjamesgray]

if you hold XMR, please donate a little bit of it to the Monero Community Crowdfunding System or one of the specific proposals on the CCS

[@teamrabbitalec]

Maybe a streamlined video on how to set up monero mining.

[@caesarxinsanium]

upvote

[@梓川咲太-d7p]

Checkout xmrig. It's pretty straight forward if you're a linux user. Just choose a pool and away you go

[@SafetyLucas]

Install Nicehash miner. It benchmarks your system for a bunch of different algorithms and miners and automatically mines whatever is most profitable and then it automatically converts your earnings to bitcoin. Usually, GPUs mine ethereum and cpu mines monero.

[@weevil_bob]

Ive tried so many times on Linux and windows and end up getting errors that Google won't let me how to fix then I give up and try again 6 months later and repeat. Only thing I've got to work is minergate but it says on the monero website not to use it.

[@梓川咲太-d7p]

@@SafetyLucas I've been using moneroocean for that. They have a fork of xmrig, and it uses algo switching as well. It's not really a mainstream pool, so it's nice to support diversity as well.

[@tstcikhthys]

BTW, Ethereum is not the currency; it's just the technology, so you can't "buy Ethereum". Ether is the currency.

[@door_productions4896]

Frankenstein's monster

[@gaius100bc]

The actual statistics for bitcoin, as of 2021/01/20: The top 2.43% of wealthiest addresses holding 94.92% all the bitcoins in circulation, while the very top 0.44% wealthiest addresses currently holding 85.51% of all the bitcoin in circulation. But we should keep in mind one thing, good portion of those top addresses very likely to be cold storage wallets of big cryptocurrency exchanges, so in a sense, those wallets are only storage boxes holding btc of many people. Statistics can be a bit deceiving at times. Which in it self doesn't change the main point of the argument, all currencies over time tend to clump up somewhere in some pockets of rich people or some large financial entities.

[@NekoDalian]

Yeah, but it's the same as banks, right? They hold a lot of people's money, and in doing so, have a great deal of power, even if that money isn't technically theirs.

[@gaius100bc]

@@NekoDalian yes, pretty much

[@zyansheep]

I have been waiting for this video, Ring Signatures, Bulletproofs and RingCT are very confusing. Edit: I am now sad because I can't find a single good video explaining how exactly Bulletproof signatures work (like mathematically) D:

[@fern3436]

With highly technical things like bulletproofs and ring signatures, it is sometimes impossible to find mathematically detailed videos. I would suggest looking at Wikipedia for the inner mathematical workings.

[@zyansheep]

@@fern3436 I looked on the Wikipedia page and while there were some good abstract examples about how zero-knowledge proofs work, but I can't understand the math at ALL. en.wikipedia.org/wiki/Zero-knowledge_proof#Definition

[@mobrine8659]

If you are interested in reading the technical side you should check github (monero project tree) or papers (getmonero.org). You will also notice that there are other more technologies that are implemented (Dandelion+, CLSAG) or still in audit For example: bulletproofs will soon be replaced with bulletproofs+ which will reduce transactions sizes

[@DFPercush]

Does this help? kzbin.info/www/bejne/bJ2oiKR_grGti7c

[@clared5812]

Maybe you should try a book or article then. There’s more types of information than just video. Lol.

[@sebastian3158]

Your channel is so underrated

[@kevyyar]

Keep it underground

[@karlgiese6100]

@@kevyyar he has 75k subs, he isn't "underground"

[@evildragon1774]

No sh*t sherlock

[@EsoTarikZ]

I remember when I was on the dark web and I saw Bitcoin at less than a dollar. I immediately write it off as “this is stupid.” I will never make the mistake again!!! ADA and XMR to the moon baby!!!

[@nathaniallevett2640]

Where do you buy it now though, none of the trading platforms seem to sell it anymore?

[@noanyobiseniss7462]

@@nathaniallevett2640 Kraken

[@adamsmateo2149]

Why was the bitcoin cheap? Dirty bitcoin or something?

[@matthewvanwinkle7631]

What a great video, very informative, brings up some good points, advocating for a good cryptocoin, and didn’t even ask for a like. You my friend earned a subscriber

[@Shadow77999]

Duckgogo

[@justjake9047]

@@Shadow77999 gogoduck

[@papajohnsuk5965]

delete that pfp

[@bitcoin_ch]

Price was BCT $35000, XMR$140. Today (3 years later): BTC $68000 (MC $1,35T), XMR $162 (MC $3B). Bitcoin is more secure, censor resistant, and adopted than Monero. Privacy is and will be added to Bitcoin on 2nd/3rd Layer There is no second best!

[@pittagiiya]

Some (not all) points I got from this video: "Bitcoin is no longer private thanks to capitalism doing what it does best." "You will not have 0.00000000000000000001 Monero. 1 Monero also will not be $10 one day, $100 the next." "You can probably mine Monero. You almost certainly can't mine Bitcoin."

[@99temporal]

well, bitcoin was never private to begin with... it's in its design, not due to capitalism or something

[@boggless2771]

@@99temporal op doesn't realize that it's the government that forces exchanges to do facial recognition. And also, BTC is anonymous, as long as you can't trace a public address to a person. Which you cannot unless you trade with that person, or attach the Bitcoin to an exchange.

[@cthulhufhtagn7520]

@@boggless2771 pseudonymous

[@pawemarsza9515]

- Governments / Public Corporations require facial recognition - Capitalism at its best Bruh. Capitalism is about PRIVATE control of the means of production (private = individual ['privus'=individual in latin] ) What you're talking about is PUBLIC control of the means of production (by a group, A SOCIETY - either by the State, or by Public Corporations [corporations are public, as they are collectively owned by their stakeholders and 99,99% of the time they collaborate with governments to crush or limit their competitors on the market]) So it's definitely not capitalism's fault

[@blemmyes]

@@pawemarsza9515 "it's only capitalism when there is less than 2 capitalists"???

[@rwero511]

watching while mining it

[@awesomedavid2012]

If there's such a large supply of Monero what is to stop it from becomming the new fiat? If anyone can mine it and there's no upper limit, sure the FED can't as easily print it but what's stopping the inflation from going crazy just like it did with cash?

[@MentalOutlaw]

Currently a monero block is mined about once every 2 minutes, after 2022 the block reward for monero will be fixed at 0.6 XMR (right now the block reward is about double that) Once this happens the annualized inflation rate for Monero will be around %0.9 (less than gold) a continuous increase in supply isn't a bad thing for store of value as long as its predictable like the increased supply of gold. Now what alot of people suspect is that the real supply of monero won't really change because coins are constantly getting lost from people forgetting wallet passwords, deleting wallets, etc. Its hard to know exactly how much monero is or will be lost, but considering that %20 of the total bitcoin supply has been lost I suspect the rate for monero is similar.

[@ercole1488]

You should make a comparisons of the available linux kernels, like linux-ck, linux-zen, explaining which one is best for performance. For example, I have discovered that linux-ck is better, on my T440p, for performance. Monero hashrate went up to ~1030H/s (CPU is i5-4340M)

[@marcello4258]

+1

[@99temporal]

what was the marginal performance gain?

[@parabolicpanorama]

Wait how do you mine on a mobile cpu?

[@parabolicpanorama]

@@CyberAndy_ why not sir pls sir many thanks

[@mattverey1639]

Nice video clearly pointing out the significant features of Monero. Minor point though, at 4:53 you say, "The sender's identity is obfuscated by ring signatures... that is combined with past signatures on the block chain, which make it impossible to determine who sent the transaction." Obfuscation is not the the same as 'making impossible to determine.' You also use the word obfuscate for the confidential transactions. I do hope Monero doesn't just 'obfuscate' but rather impenetrably encrypts these functions.

[@gecko197101]

Security thru obscurity... easily cracked by quantum/ trivial computation. ZK-SNARKS are next level...

[@jeffreyd508]

Is sending xmr from one exchange to another totally traceable?

[@pikaspoop5042]

Do you have a video explaining how to start using cryptocurrency?

[@WatchmanPrivacy]

Bitcoin privacy can be achieved with non-KYC. There are other tools for forward-moving privacy such as Samourai whirlpool and coin control. Then you can save in a digital money much more powerful than others.

[@12q8]

The increase rate of Monero is a constant number as well, so the inflation rate approaches zero in the long term.

[@shawnradke]

😂 nope Value wise it’s not 0 Imagine the economy runs with 100 monero and .6 monero is added, everything is displaced now as everything will increase relative to 100.6 monero

[@aspen.coloradx]

So glad I found this channel! I really like how you explain stuff

[@meanpillscasper]

Same, it's a true gem

[@NicholasHenkey]

Awesome explainer! Been wondering about the privacy coins

[@knightmare1015]

Very cool. I wish that I could find a cold wallet that works for mining Monero specifically. Monero is extremely easy to mine and extremely affordable too. Ethereum Classic is not too bad to mine mainly because you can use 4 and 6 gigabyte GPU cards now. Can't do that with regular Ethereum and don't bother trying to mine Bitcoin without an ASIC. And as far as people complaining about Bitcoin and other cryptocurrencies being used for criminal activity goes, people need not complain because cash itself has been used to commit more felonies than any of us can think about.

[@calimitaprefetta]

This is why I expressly mine xmr over BTC and ETH

[@johnnysolami]

I understand why people say Crypto is worthless. There's nothing backing it. However, Monero's value proposition is total transaction PRIVACY

[@fllthdcrb]

4:15 This is *not true* (for the most part). There was a time when Bitcoin addresses were widely reused. However, most, if not almost all, wallets nowadays give you a fresh, unused address every time you request one. That's not to say that addresses aren't still reused. There are a lot of e.g. donation addresses that are massively reused, and nothing stops anyone from giving out the same address to multiple people they want bitcoin from, nor people who get one from sharing it. But it's not an intended or otherwise normal part of Bitcoin, and is discouraged for multiple reasons, including wrecking privacy for everyone involved. All that said, tracking is still very much a thing, because there is a lot that can be gleaned by analyzing the blockchain. The devs are working on making that harder, through things like Schnorr signatures.

[@desmond-hawkins]

Exactly. This is not the only incorrect statement, the one about tainted BTC that are less valuable is also provably wrong. When you have a balance of 2 BTC, you _can_ see that it came from 1 BTC from a DNM and 1 BTC from an exchange, but once they're added together in a wallet, it's not like half is marked forever and the other isn't.

[@nac9880]

Everyone learn their lesson sooner or later. I've learned my own and I'm back as a Bitcoin enthusiast, the occupation I should not have had given up.

[@Flocksta]

What do u mean

[@nac9880]

@@Flocksta there'll always be cryptos with better technology as time passes but none of them will be Bitcoin. One can say they are the playground for Bitcoin testing. Draw your own conclusions.

[@Flocksta]

@@nac9880 but if other currencies are playground for bitcoin shouldnt bitcoin include these new features over time? I mean what happens when btc mining is not profitable anymore? Im all for al these tiny irrelevant cryptos to go away and also for the ones that provide better service to stay.

[@domcanario9107]

Excelente aula, obrigado pelo vídeo!

[@baguettedad]

um br!

[@domcanario9107]

@@baguettedad salvei, cheguei a minerar monero por um tempo. Tá nessa meta?

[@baguettedad]

@@domcanario9107 to quase la

[@rafaelmaia8829]

HuehueBR

[@wesleyjrz]

Olha só, um brasileiro

[@Lamenteinglesa]

Those are really good points. I like bitcoin, but it really is more like a store of value and a backup element (like gold).

[@libertarianrevolution7026]

Monero could be the cryptocurrency which eventually unseats Bitcoin for the highest coin market capitalization.

[@LewisCostin]

I don't think people talk about destruction/lost keys of crypto enough. It happens continuously, and on a long enough timeline, you will eventually run out. At what point does having (literally) no application make the currency worthless? The tail emission keeps Monero usable 1,000 years from now, while also being so small that inflation probably won't be able to fight the 'lost' monero.

[@maxikanec4545]

Thanks for Ukrainian cents on preview bro

[@beagleonvodka]

Tbh I never really trusted Bitcoin, as for Monero now we're talking. One Crypto miner told me that the first rule of Monero is you never discuss them.

[@Chloe-yz6yi]

Now do the same with Ethereum please... I have seen some explanation about it being a giant computer that anyone can use to program but I still can't get my head around that :')

[@jcoughlin325]

wish there was a NO BS instructional video on how an American Citizen can EASILY and SAFELY purchase Monero. Extra points if the video is structured towards people who have never purchased Crypto.

[@ChrisGilliamOffGrid]

The Exodus Wallet. You can convert to it there. Buy LTC or XLM somewhere, transfer it to Exodus, exchange. That simple.

[@ellipszia]

This channel is pure gold Bruh! Keep up the good work.

[@niksatan]

Dude thank you for all of your videos, you are hell of a versatile guy!!

[@Tom-eu2gq]

are you on LBRY ? if not could you make a vid about it ?

[@HeloIV]

He's already on LBRY

[@hauyennguyenthi9013]

One of the best videos. I sold 1/2 my bag for $VRA. the digital advertising, Esport, video game, NFT. it got US patent. 25.55% APY staking. $VRA will be massive. The next of Theta for sure !!!$$$$$

[@darrellm9915]

Sounds good in theory, but remember, once a transaction is recorded on the Monero blockchain, it becomes an immutable part of the blockchain's history and cannot be altered or deleted. So even though it's encrypted with ring signatures, it will still remain there indefinitely, regardless of any privacy features used. And we can only hope that it doesn't become a threat in future, as tracing technology becomes more advanced.

[@nerd-]

exactly.

[@royfriedman4184]

Saw someone the other day pick a random youtuber who had a bitcoin donation address, and follow the transactions to find his main address. He was also able to find the youtuber's full legal name, and photo. Scary

[@matiasisea7570]

do you have that video?

[@mgord9518]

I'd love to see a tutorial on how to mine correctly, I tried using my gaming laptop with a 1080 and Intel i7 and I was only getting cents per day :/ unless I'm doing something wrong, it still seems pretty unrealistic to use normal computers to mine

[@alirezaalavi1504]

of course you shouldn't do that dude

[@mgord9518]

@@alirezaalavi1504 So how should you mine it?

[@danielmarkkula3004]

@@mgord9518 Not on a laptop! Buy a mining computer made specifically for blockchain.

[@mgord9518]

@@danielmarkkula3004 I've looked up XMR mining profitability, and it looks like even an AMD Epyk 7742, which is a $8000 CPU only mines $45 of XMR per month. I've also attempted mining it on my desktop, and it still isn't anywhere near profitable.

[@mori7423]

@@mgord9518 mining monero is not profitable in ANY case. If you want to mine rationally - mine some other coins and just buy monero with them

[@Maribarosca]

The digital market turned out favorable! $60,000 every month. I can now give back to the locals in my community and also support God's work and the church, God bless America

[@ChickFilA_Sauce]

Monero makes a lot of sense for day-to-day spending but not for long term saving due to its inflation.

[@manuelgrana1469]

monero inflation tends to 0%, your statement is just not true

[@ADayintheLifeoftheTw]

Just successfully mined some today. 😎

[@D3rMesaa]

Who buys Bitcoin for use anyways with these astronomical fees

[@bk8740]

Wrong idoit ethereum is more

[@steveobraien9939]

great Presentation 👍 Thanks ☺

[@arrtemfly]

i love how that monero pic (3:16) has an ukranian 25 копiйок coin haha

[@jmik4956]

Я вважав, що ніхто це не помітив)))

[@ivanpelykh7665]

Спеціально зайшов в коменти, щоб знайти такий коментар)

[@dagfinissocool]

When it costs 15 dollars simply to transfer bitcoin from one wallet to another it shows how useless it is for actual retail purposes but miners should still be incentivized with such high transaction fees

[@MrSplonger]

Wouldn't the fact that more can always be mined be a cause of inflation? I reckon it would mean that saving up monero isn't a great idea, and therefore monero would be a mediocre to bad investment and a bad gift.

[@aringrey]

I think that is part of the point. Monero isn't trying to be something to be invested in and horded, it is a currency. As in, to be exchanged for goods and services.

[@tiagotiagot]

And also a bad thing to keep your money in, like fiat it rots while it's sitting in your pocket.

[@jensdanbolt6953]

Not as long as it's not growing faster than the real economy (actual stuff being produced). Bitcoin isn't just not inflationary - it is deflationary, which is a big problem. The hard cap means that in a world where bitcoin is widely adopted; every year when the real economy grows by ~2-4%, bitcoin deflates by the same amount. That's a *bigger* problem than inflation, not smaller. It incentivizes hoarding (good for already rich people) over using it (good for new businesses and young people without inheritance).

[@mystifiedoni377]

Monero has linear inflation, so the rate of inflation decreases over time tending to 0.

[@jensdanbolt6953]

@@mystifiedoni377 what do you mean "linear inflation"? Linear to what factor? Can people who know nothing about economics or math please stop spreading misinformation?

[@tishared4560]

Has something change since then, any updates about Monero: how it is doing?

[@andrewmcdonald1614]

You could be a monero millionaire and nobody would know. When you are a BTC millionaire the whole world will know. I actually own extremely little BTC. In the coming months and year, Monero will start to catch on more and more. It's going to be massive.

[@Gartendalf]

Flux makes sense. its blockchain based computing power. its pretty cool because its not just some digital money. I dislike printing "just money" by mining.

[@haakamaujla2855]

Is Monero a good store of value given that there is no limit to how much can be mined?

[@iskamag]

the inflation rate is expected to be at 0.6%, so yes

[@loluser124]

my dog poop is unique

[@ricotaline]

Monero logo looks like a Pokeball. That's a good point.

[@CrunchChicken]

Hey friend, are your videos on other platforms? Trying to set up newsboat so I can ditch google. I'd like to use a feed different than KZbin's if possible

[@CrunchChicken]

@Stalin Redeyes true, but with rss feeds I can just pipe the links into mpv. And I'm not limited to KZbin, too

[@damnedmadman]

LBRY looks promising

[@Jupiter__001_]

@Vladimir Thank you technoLenin

[@porky1118]

Monero doesn't have block size limit. So if it gets popular, the blockchain will grow very fast and only huge companies will be able to store it, right?

[@moccaloto]

Informative. Thank you for the great explanation

[@justiniani3585]

How does Monero compare to Ethereum now that Ethereum has transitioned to proof of stake?

[@radupopescu7979]

Please make a video about gentoo single gpu vfio passthrough! I'd love to see how you set it up.

[@Lou-xd9ef]

Monero = most decentralized and private crypto. Why the price is so low is a mystery.

[@nikolas8741]

Great job explaining. I was wondering what happens if to hole internet when down will you be able to recover your coins I did get the answer to that again keep up the good videos!

[@simonjesusbeliever3467]

First the chances of interent going down is VERY LOW secondly store it on your hard drive.

[@Elijah_Lopez]

Saw title and liked before watching

[@WesleyLeeYang]

is the keyboard sound inserted or are you actually pressing a key to move to the next slide?

[@WesleyLeeYang]

(I'd guess the latter)

[@jodee-z9h]

Thanks for the breakdown! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How can I transfer them to Binance?

[@rogercruz1547]

About coins being burned: deflation is good

[@hindigente]

Wouldn't that cause the opposite effect, though?

[@hanelyp1]

A currency holding value over time is good.

[@4n0ngaming]

Deflation really hurts an economy. It incentivises people to keep their money locked in their account

[@rogercruz1547]

@@4n0ngaming And since when is consumerism and high prices a good thing? Prices get lower as money value increases and the only thing that gets hurt is taxation, the price system works best with low overhead (low taxation) and products are built to last.

[@hanelyp1]

@@rogercruz1547 Wages are also depressed by deflation. Wages are just another commodity in the market.

[@Zaptosis]

Someone I was talking about was talking about 0xMonero very highly. I don't know what to think about it, & kinda don't trust it yet. I'm keeping my money in Monero because I think it's got more long-term potential. Maybe invest a bunch into ByteCoin, lol.

[@geck1204]

How about exchanges in the US delisting Monero due to fear of being shutdown?

[@DaveSmith-cp5kj]

The exchanges doing this are KYC, which Monero users don't use to begin with, as you would just use bitcoin in that case.

[@rabbitdrink]

i mine monero in the background while i game. it seems to use no extra power and i lose no frames, i dont know how thats possible but whatever. im starting this thing where if somebody kills me with a knife, i give them like 5 cents worth, but nobody who killed me with a knife has picked up their monero yet :(

[@TheLionManOnline]

Monero is great but I wont ever store value in it for one simple reason you can't fully verify the supply. That is a key feature of crypto that you can't overlook.

[@Flocksta]

Can u explain more?

[@rafaelr.sanches1437]

That's wrong, you can verify the supply.

[@TheJpwzrd]

“Will likely cause some inflation” yep, you were correct.

[@AncientSionX]

thanks for this video. it was interesting.

[@WasBannedTho]

If money isn’t being spent it doesn’t cause inflation. You have 60% of Americans living paycheck to paycheck and you expect people to spend.. no inflation just money in all the wrong pockets.

[@abbasmaheryar1111]

the infamous ryzen 5 3600 is great for mining.

[@cookievretter5237]

It's in my computer. I don't mine with it though.

[@vinzer72frie]

Is it possible to mine monero at the current date?

[@abbasmaheryar1111]

@@vinzer72frie download xmrig and get started. Always mine in a pool. As of now, CPU mining is still worth it

[@f23anone82]

How profitable is to mine Monero? 1. price for electricity vs price of Monero 2. What machine is good for it? Can I mine on Core2Duo for example? I've seen videos on mining or Raspberry Pi is it a valid option?

[@h1dd3nllama]

how much do you value non-traceable funds?

[@Basement-Science]

currently it's profitable even at the world's highest electricity costs, at least with modern Ryzen 3000 or 5000 processors. Of course the older the cpu, the less efficient it is.

[@Qwertype315]

Can the use of monero be outlawed? Seems like unwelcome competition for the governments currency and taxes

[@MemoGrafix]

Monero is Banned in NYS

[@SpookySkeleton738]

that's fine, i lost mine in a boating accident anyway

[@InventorZahran]

If there is no limit to the quantity of Monero that can be mined, then how is it much better than a fiat currency with no upper limit?

[@richard343s]

Monero is for the people that want to make private transactions. Bitcoin is for the people that want to make money. Have some of both that's my recommendation.

[@sirjamesgray]

Big money wants privacy. Once big money realizes they're holding a surveillance coin, they'll probably pivot.

[@internetceo]

@@sirjamesgray They won't. Also Taproot & Schnorr signatures are currently "ready" to be implemented in bitcoin. So if you want a private bitcoin, just wait a few months / years. If you want to be really edgy, you could argue that every transaction on the lightning network is also private. Monero solves a problem bitcoin does not have anymore, just like any other altcoin.

[@sirjamesgray]

@@internetceo to be clear, I welcome the privacy enhancing features that Bitcoin is preparing to implement. I also recognize that second layer solutions could help too. My portfolio is structured in such a way that I’m happy to see either coin win. I’m just saying that big money likes privacy. Perhaps they’ll get it with Bitcoin. Perhaps they’ll get it elsewhere

[@internetceo]

@@sirjamesgray I feel you. Who does not like to gamble. As a gambler who did this for some days: Stick to btc. When you compare your portfolio to dollar, you will maybe think you made a good deal. You should always compare against bitcoin, then you will see your losses. I'm no btc ultra, just saying monero has a shit ton of problems btc solved in the last 12 years pretty "ok".

[@sirjamesgray]

@@internetceo whichever coin delivers the final blow to the fiat system, it doesn’t matter to me. Like I said my portfolio is structured to handle these risks.

[@xl0_0xawn27]

thanks for the Input stay safe 😌

[@Uzair1987]

people can sell Monero on Satoshily Exchange