$ (XMR) Monero

[world of shit]

Can someone explain in very simple terms what makes Monero more anonymous than Bitcoin?

If you can read C/C++ you can check out their github here:

monero-project/research-lab

A general repo for Monero Research Lab work in progress and completed work - monero-project/research-lab

github.com

If you can't read autist funny symbol computer words, then there's always the white paper:

monero-project/research-lab

A general repo for Monero Research Lab work in progress and completed work - monero-project/research-lab

github.com

The white paper is tiny ~20 pages, and you can ignore the last 5 pages which are just algorithmic proofs of correctness. Also can skip over the discussion of Elliptic curve cryptography if you're not really interested in the functionality of it. ECC is just a type of encryption, where Monero is interesting in regards to this is it uses Edwards elliptic curve for operations (EdDSA), which side steps concerns raised by cryptography experts over the years.

 

[2WokeB4BrainPills]

Moving over to the XMR thread again like someone else did prior, but for what it's worth as far as le $$$ is concerned, Monero has already been listed as one of the tokens in the running for Grayscale to provide an investment trust for.
View attachment 1961659
In fact, the trust itself had apparently already been registered a month prior to this, on top of the fact that they already provide a Zcash (ZEC) trust, which is also a "privacy coin" as it were.
View attachment 1961671

IMO, there is absolutely no chance in hell that any regulatory body approves a Monero ETF. I doubt there is any crypto they hate more.

Which is why I think I like Monero more than any other crypto long term and am gonna start DCA'ing into it, but I also suspect it's gonna take off like a rocket pretty soon. Which is also why I am losing my shit waiting for Kraken to approve my fucking ACCOUNT VERIFICATION.

Spoiler

REEEEEEEEEEEEEEEEEEEEEE

 

[No. 7 cat]

Mental Outlaw has done a pretty good job explaining it on layman's terms.

He pretty much sold me on looking into Monero instead of Bitcoin.

I'll look at that for Bitcoin certainly doesn't look too anonymous.

 

[AnOminous]

I'll look at that for Bitcoin certainly doesn't look too anonymous.

It's the opposite of anonymous. Every single transaction is permanently recorded. You can anonymize it to some degree but it requires effort. Anything that ever hits the major exchanges is certainly discoverable by the government, though, so the idea that BTC is somehow an ideal medium for illegal transactions is absurd on its face (fuck Janet Yellen).

 

[No. 7 cat]

It's the opposite of anonymous. Every single transaction is permanently recorded. You can anonymize it to some degree but it requires effort. Anything that ever hits the major exchanges is certainly discoverable by the government, though, so the idea that BTC is somehow an ideal medium for illegal transactions is absurd on its face (fuck Janet Yellen).

You have these spurious 'dark web' tales on TikTok involving BTC, which is strange given it has a sort of register or manifest. I thought somehow there was something if someone a avoided using a GUI. BTC seems no more than a sort of high risk Dutch tulip investment.

 

[AnOminous]

You have these spurious 'dark web' tales on TikTok involving BTC, which is strange given it has a sort of register or manifest. I thought somehow there was something if someone a avoided using a GUI. BTC seems no more than a sort of high risk Dutch tulip investment.

There was nothing inherently valuable about tulips, though. A medium that can't be counterfeited and requires actual proof of work is inherently valuable. The only thing that undercuts that inherent value is if some breakthrough in cryptanalysis makes it possible to counterfeit without proof of work.

 

[Kosher Dill]

There was nothing inherently valuable about tulips, though.

But tulips really did have a high market price before the runup, because of wealthy Dutch mercantilists' fondness for collecting and growing rare tulip varieties. The problem with the mania was that the proto-derivatives market that sprung up in Dutch coffeehouses ended up divorcing the price from the underlying market - the tail wagging the dog.
Same with Bitcoin - the big runup over the past year has nothing to do with its uses as a currency and the value stemming from that.

Incidentally, it seems the rarest tulips today can still go for $10 or more apiece, which is pretty expensive for a flower.

Heirloom Tulip Bulbs

 

[IAmNotAlpharius]

How viable is it to mine monero with a laptop from a coffee shop or university?

 

[world of shit]

How viable is it to mine monero with a laptop from a coffee shop or university?

depending on the laptop, very viable. XMR can be cpu mined

Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero

Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining?

www.cryptocompare.com

 

[IAmNotAlpharius]

depending on the laptop, very viable. XMR can be cpu mined

Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero

Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining?

www.cryptocompare.com

thanks! I’ll take a look at the calculator!

 

[Kosher Dill]

How viable is it to mine monero with a laptop from a coffee shop or university?

Mining Monero depends on having a fast CPU with a lot of cores and cache per core. Laptop CPUs are not going to be impressive in that regard.
Right now I'm mining less than a dollar's worth of XMR a day on a fairly high-end desktop CPU. Unless you're living at the coffee shop 24/7, you probably won't even see a single penny from mining there.

 

[TerminalTryHard]

Is it worth mining Monero or it just better to buy at this point?

 

[Liber Pater]

How viable is it to mine monero with a laptop from a coffee shop or university?

If you are at university you should absolutely take full advantage of the free electricity to mine crypto (and not just Monero). Reclaim your tuition.

 

[Kosher Dill]

If you are at university you should absolutely take full advantage of the free electricity to mine crypto (and not just Monero). Reclaim your tuition.

Yeah, but on a laptop?
I'm all in favor of shaving pennies where you can, but laptops are terrible at cooling and I wouldn't want to run mine at 100% for days on end. At least, not unless I could make enough in crypto to buy a new laptop and still come out ahead.

Is it worth mining Monero or it just better to buy at this point?

If you actually want "investment quantities", probably just buy it unless you have a fairly modern server farm in your basement. But if you want to support the network, mine if you can and run a full node if you can.

 

[Liber Pater]

Yeah, but on a laptop?
I'm all in favor of shaving pennies where you can, but laptops are terrible at cooling and I wouldn't want to run mine at 100% for days on end. At least, not unless I could make enough in crypto to buy a new laptop and still come out ahead.


If you actually want "investment quantities", probably just buy it unless you have a fairly modern server farm in your basement. But if you want to support the network, mine if you can and run a full node if you can.

I was thinking more about dedicated processors/mining rigs if you can afford them. IIRC Zcash mining is still profitable for individuals if you have decent equipment and cheap electricity.

 

[world of shit]

Yeah, but on a laptop?
I'm all in favor of shaving pennies where you can, but laptops are terrible at cooling and I wouldn't want to run mine at 100% for days on end. At least, not unless I could make enough in crypto to buy a new laptop and still come out ahead.

I mine ETH on a gaming laptop. Properly tuned and set up i can get ~40-60 MH/s. That's enough over a year to make a difference, especially since I always leave my computers on for media services, etc.
Profit would be every better if i didn't pay for electricity.
And for cooling, laptop cooling pads are ~8.99

 

[Erika Furudo]

I mine ETH on a gaming laptop. Properly tuned and set up i can get ~40-60 MH/s. That's enough over a year to make a difference, especially since I always leave my computers on for media services, etc.
Profit would be every better if i didn't pay for electricity.
And for cooling, laptop cooling pads are ~8.99

Maybe I'm retarded. But how the fuck are you justifying the electricity cost? I thought that was one of the major issues with mining? Or does it just apply to BTC?

 

[IAmNotAlpharius]

I was thinking more about dedicated processors/mining rigs if you can afford them. IIRC Zcash mining is still profitable for individuals if you have decent equipment and cheap electricity.

My brother has solar panels, I might work something out with him...

Maybe I'm retarded. But how the fuck are you justifying the electricity cost? I thought that was one of the major issues with mining? Or does it just apply to BTC?

That’s why I was thinking of using electricity from a school or cafe lol.

 

[world of shit]

Maybe I'm retarded. But how the fuck are you justifying the electricity cost? I thought that was one of the major issues with mining? Or does it just apply to BTC?

Nah, depending on the coin and your hardware, you can easily get a net gain. Most major GPUs you buy will pay for themselves after a few months of 24/7 mining. The calculator I posted earlier will be a decent guide to find what is a profitable coin to mine. You can setup with default values on a miner or get autistic and regulate voltage/fan/overclocking of GPU to get max throughput. You won't be rolling in the sats, but a year of mining can give you 1-2k on a modern gaming setup. I used to do a lot of traveling and would burn through new gaming laptops all the time. I'm putting those older 4-6Gb GPUs to work, in addition to a 2080TI and a 3070.

My downstairs is hot as balls.

I plan to get an ASIC miner for btc, and the newer Ethereum ASIC miners, but they are fucking sold out till August. And most ASIC companies will put you on a waiting list unless you're buying 20+ of them.

Additionally, electricity is cheap in some places, or even free and built into the cost of rent (a lot of miners I know in NYC mine because the apts have utilities built in rent).

This is all dependent on the market and the price of the coin you're mining. Some coins will easily lose money. Also, people will host nodes on the offchance they get a lucky payout.

This guy is a good resource for mining. Here's a recent video just about bitcoin mining profitability:
Some of the newer btc ASIC miners, even with a high electric rate, can pull in ~$33-35/day after costs.
And ETH is even better, since you don't need specialized hardware or 3200W power sups to run them. Just an 8GPU motherboard with some AMD cards

 

[Sithis]

Am I stupid for expecting Monero to experience a mooning soon, following the IRS glowies announcement they're going to be ramping up efforts to tax people based on crypto -> crypto transactions and generally being faggots?