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Why Monero

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Re: Why Monero

#21

Post by stavros »

cinntaile wrote: post #12
stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

> and it hasn't been as full of cultists as some of the other coins I've seen. Didn't they have a Church of Monero a few years back? That was kind of... weird? It was probably started as a joke or something, I can't remember.

Very probably. That's why I said "not as full" :P

Re: Why Monero

#22

Post by delaaxe »

paulryanrogers wrote: post #3
stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

My fear with strongly anonymous DeFi is indirectly harming the environment and supporting crime. Sadly doesn't look like Monero resolve these concerns.

That's like being worried about using the Internet in 1995 because of indirectly supporting porn.

Remember, the Internet is only useful for porn and cat pictures, right?

Re: Why Monero

#23

Post by stavros »

webwielder2 wrote: post #17

How do I get some monero? I've only ever bought crypto with the consumer-level apps and know nothing about mining. (Original article isn't loading, in case it has any info in there)

You can buy it from Kraken.com, for example.

Re: Why Monero

#24

Post by ahnick »

I_cape_runts wrote: post #19
ahnick wrote: post #16

I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.

Zcash has to have privacy enabled by the user. It’s not automatically private. Monero is automatically private.

Yes, I understand. That's why I'm specifically asking about the advantage of Monero vs when shielded transactions are used on Zcash.

Re: Why Monero

#25

Post by wheresmycraisin »

I've tried using Monero because of it's supposed privacy features, and found that the official desktop gui clients is completely unusable. I'm not just talking usability and design issues -- I'm talking random crashes and freezes, if it manages to launch at all. When I brought these issues to the dev team, I was basically told to fuck off.

Re: Why Monero

#27

Post by null0pointer »

I_cape_runts wrote: post #19
ahnick wrote: post #16

I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.

Zcash has to have privacy enabled by the user. It’s not automatically private. Monero is automatically private.

To expand on this a little bit, non-default privacy means that use of privacy features becomes de facto suspicious activity, thus rendering them useless.

Another issue with Zcash is that it had a trusted setup, which is not an issue Monero has.

Re: Why Monero

#28

Post by cornstalks »

webwielder2 wrote: post #17

How do I get some monero? I've only ever bought crypto with the consumer-level apps and know nothing about mining. (Original article isn't loading, in case it has any info in there)

You can mine it on your computer with some software (e.g., https://xmrig.com/ is popular but not the only option). Then you typically join a "pool" (because your little CPU is just a drop in the vast ocean of compute power hashing away and the next Monero block). The pool will pay you a little bit of Monero, based on your compute contributions to the pool.

They pay the Monero to your Monero wallet, and then it's up to you to decide how to use it. Whether or not mining is financially viable (e.g., electricity cost) depends on a few things. You can use a calculator/website like whattomine.com, cryptocompare.com, coinwarz.com, minerstat.com, etc. to get a rough idea of your potential mining profitability.

Re: Why Monero

#29

Post by pedalpete »

I used to hold Monero, my issue with it is that it's main use case of anonymity aids the anti-crypto story of crypto being used for money laundering or other illicit activities.

Re: Why Monero

#30

Post by paulryanrogers »

stavros wrote: post #13
paulryanrogers wrote: post #11

Earlier quoted context omitted.

TBH I'm against strong anonymity when it comes to money. Seems like it can amplify harm more than other areas like speech or association.

True. The issue I have is that anonymity exists, it's just expensive, so only rich people have it. This makes the choice from "financial privacy or no financial privacy" to "financial privacy for the rich or for everyone".

Good point. And if it's truly a binary choice of only-the-rich or everyone then I'm more inclined to side with anonymity for everyone.
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