When looking for a coin that is undervalued, then look no further than Monero.

Monero Succeeds At What It Does Best:

Many people like to jump to conclusion and say "it is used for drugs". Monero has no control over what its currency is used for. Monero was made to be private money. Because it succeeded at its privacy features, it started getting used for illicit activities. I do not condone those illicit activities. But that should definitely tell you something. It is really good at what it does.

Digital Fungibility Is Important For Cryptocurrencies:

Monero has default privacy. Why is that important? Default privacy enables digital fungibility. What does digital fungibility mean? Considering tracing companies are doing there best to improve, there are many cases where users get their bitcoins frozen on a centralized wallet or exchange because they didn't like the fact they used those bitcoins in a gambling site. Or simply someone bought the wrong persons bitcoins, because they had no idea what they used it for before. Now imagine being innocent, and losing your funds because of that. A fungible cryptocurrency will make it impossible to taint a cryptocurrency. So 1 XMR will always equal 1 XMR, no matter what it was used for.

Millions of dollars spent on violating your crypto-privacy:

Institutions and corporations spend millions (possibly billions) of dollars building the best software and analytics to track cryptocurrencies. They succeeded in all cryptocurrencies, but one. Monero. If that is not bullish, then I don't know what is. Forget what the media tells you about it, think about the dedication put into it.

Monero has the third most number of contributors:

Now where does that dedication come from? It comes from over 250 contributors in the Monero project. Monero has the third most number of contributors (first place: bitcoin, second: ethereum). Every time there was an technical issue, the monero developers immediately fixed it. All these contributors are working extra hard to provide privacy based cryptocurrency that people can rely on. It can be innocent people from third world countries with a suppressing government.

Average 2 minutes block-time:

Using Monero is awesome too! Average block time is 2 minutes, much lower than majority of currency-based coins.

It costs pennies to transact in Monero:

The fee's are extremely low, and do not increase to unreasonable amounts because of sudden usage. The average fees is $0.02 to $0.10.

Price action:

Since many of you seem to be focused on the price these days. Here is the outlook right now. Most of the pressure is coming from the $200 sell wall. Once XMR buying power breaches that wall, the momentum should start to pick up like the rest of the market.

I honestly feel that Monero can easily be priced at $500 to $600.

Monero (XMR):

The initial mission for Monero is to create a secure and private cryptocurrency, and they continue to succeed on developing such a cryptocurrency.

EDIT BELOW: I am going to add more things to this post because some users mentioned more things that make it undervalued:

Monero Atomic Swaps coming soon:

BTC/XMR swaps are in the works:

Mining is decentralized:

Monero is ASIC resistant!

Grayscale is looking into listing a Monero Trust:

This will bring massive amount of demand for XMR.

EDIT: Wow this post blew up! Thank you for all the awards!

Edit: I’m moving this link to the top so that Reddit doesn’t autogenerate a misleading preview image

What is Monero?

Monero (XMR) is a cryptocurrency launched in 2014.

Like Bitcoin, it operates on a , but keep in mind these most significant differences from Bitcoin:

1. Monero Blockchain data is private. The wallet balances and transaction amounts are unknowable; even if you know a wallet address, there is no way to know how much Monero is held in that wallet or the transaction history (unless the owner shares this information willingly). If transacting in Bitcoin is like sending a bank transfer, then transacting in Monero is analogous to paying with cash, where only the sender and receiver have this information. For these reasons, XMR is often called a privacy coin. Moneroj (that’s the plural of Monero) are therefore all truly .

2. Instead of block rewards trending toward zero and total supply having a hard limit, block rewards gradually decreased from 2014 to 2021 and will forevermore have a fixed block reward of 0.6 XMR. This is known as tail emission. Block time is currently about 2minutes, so about 1440 new XMR are created daily. This makes the annual inflation rate about 1% and trending toward zero over time. This indefinite block reward is to give incentive for miners to secure the network and maintain low transaction fees. Currently, available supply is 18.1 million XMR.

3. Instead of ASIC mining used for Bitcoin, blocks are created/verified with CPU mining. Miners therefore are not typically spending anywhere near as much money for hardware as with Bitcoin mining. More info on mining .

Marketcap is currently $2.7B USD and ranked 26th according to . In 2016-2017, it was a top 5 cryptocurrency by marketcap and briefly peaked as high as 4th.

Currently there are about 25,000 daily XMR transactions. .

It is a leading cryptocurrency for transactions requiring anonymity.

offers a more comprehensive explanation on all things related to Monero.

The most active Reddit communities relating to Monero are , , , and .

Thoughts, opinions, and discussion points

Up until now I’ve tried to stick to the facts; here are some of my personal thoughts and opinions

Because it is private and anonymous by default, XMR has some strong ties to darknet markets and has been a source of controversy as an alleged tool for criminals. That criticism isn’t entirely incorrect, but using XMR doesn’t make somebody a criminal any more than buying and selling in person with cash makes somebody a criminal.

Because of the private blockchain, it’s easier for exchanges to lie about the XMR funds they have. The Monero community is very skeptical that exchanges actually have the Monero funds to back up the orders they execute. Taking self-custody of your XMR is critical to force exchanges to be (somewhat?) honest and for individuals to use XMR as intended.

The community often coordinates Monero Runs or “Moneruns” where hundreds or thousands of users select a dedicated day to withdraw XMR from exchanges. Some people are planning a Monerun on 15 December 2022. Here is a , courtesy of .

I’m very impressed by XMR because its conception offered something new to the world that is useful in a way that almost anybody can understand (even if you don’t understand how it works).

For the arguments that Bitcoin helps the over 50% of people on earth who live under authoritarian governments (see Alex Gladstein’s work and articles like ), Monero fulfills that role even better as it offers better anonymity for its users than bitcoin and other currencies with public blockchains.

Combine all of these properties and XMR works very well as digital cash for transactions that do not need to be instantaneous. XMR transactions are not as fast as BTC payments on Lightning Network, ETH transactions, XNO, ALGO, etc.

I would like to promote a great podcast, Monero Talk, where I’ve learned a lot about XMR and keep up with news/the Monero community. and links. Their hosts have taught me a wonderful truth about XMR: The only thing that can stop Monero is the false belief that it can be stopped.

Speculation time: Is Monero a good investment? I am confident that Monero should survive and hopefully thrive for many years. Everyone should consider having at least a little XMR in case you need to buy things in an untraceable way. I personally though would not choose to hold the majority of my funds in XMR as it does have a unique vulnerability: its private blockchain may be a perceived threat to many political regimes who want to easily tax, monitor, or censor the people’s money. Mass adoption of XMR is therefore hard for me to imagine, as its growth may be hampered if large governments try to declare it illegal to use XMR. This wouldn’t kill Monero, but many people like myself feel it could have a negative effect on market price. I feel comfortable holding 5-10% of my funds in XMR.

If you are interested to the previous posts of this series, check it out here:

What is it?

Monero is a cryptocurrency created in 2014 and released in April of that same year. Its main strength is precisely concerning privacy. Then it also has characteristics common to other virtual currencies, such as Bitcoin. Monero is in fact decentralized and scalable. This means that its value can increase or decrease in scale according to the need and availability of the currency itself. The name derives from Esperanto and in that language it means "coin". Monero is also particular because it has a different system from the other virtual currencies derived from Bitcoins and is based on a protocol that is in fact called CryptoNote. The system in question is based on different algorithms and it is no coincidence that it was also praised by one of the developers of Bitcoin Core, an authority in the field of virtual currencies such as Wladimir J. Van der Laan.

How does it work?

Monero uses, like other virtual currencies, a blockchain system for its transactions, but not very transparent as it is for the sisters of this virtual currency. The measures adopted for the privacy of those who use Monero are: Ring signature, Stealth address and RingCT (Ring Confidential Transaction):

• Monero Ring Signature: The first of these three measures, Ring Signature, serves to hide where the money from a transaction made with Monero comes from. In fact, every single transaction carried out with Monero is inserted into a group of similar transactions: Monero enters the key of your account together with the public keys of other accounts present in the blockchain (using a triangular distribution method). In this way, an outside observer will never be able to understand which of the keys of this group corresponds to the key of your account (from where the transaction takes place). In short, it is not possible to trace the source of a transaction.

• Stealth Address: The second measure taken by Monero serves to guarantee the privacy of those who will receive the money from the transaction. Each time a transaction occurs, the "sender" of the transaction must create an address (randomly) for the "receiver", which is valid for one use only. In practice, for each transaction that is carried out, a different address is generated (by Monero) for the recipient of the transaction. In this way, only the sender and the receiver are able to know where a transaction went “to end”. In fact, in no way is it possible to find a connection between this address created for the receiver and the real address of the receiver. By doing so, the recipient's privacy is always protected.

• RingCT (Ring Confidential Transaction): The third measure taken by Monero is the RingCT, which serves to hide the amount exchanged in individual transactions. This is precisely one of the latest measures implemented by Monero to protect the privacy of its users. When a transaction with Monero is made, the sender must enter his entire wallet as an input. As the output of the transaction, however, the sender must enter two information: The first output that the sender must enter is the amount of Monero that he really wants to send to the recipient The second output that the sender must enter is the remaining amount of their wallet, which will be sent "back" to their wallet in the form of change The transaction is verified with a simple calculation, that is: the two outputs that must equal the input entered are added. In this way it is proven by the system that no new Monero were created during the transactions. Also, the amounts entered for these transactions are never shown.

Where to store it?

The best hot wallets for XMR are MyMonero, MoneroGUI, and CakeWallet and Atomic Wallet. If you want more security, a cold storage like Ledger or Trezor is the right choice.

Pros&Cons

*DISCLAIMER* These lists are subjective, it depends from person to person

Pros

1. One of the most private cryptocurrencies

2. Great devs team

3. Monero can be profitably mined using CPU’s as well as GPUs

4. Probably the most decentralized systems

Cons

1. Centralization of miners on Monero

2. Monero has quickly found a place as the currency of choice on Dark Web sites

You would see that this has been doing rounds now since recently. MineXmr (a supposedly infamous) mining pool, now owns . Know that Monero mining is special and has been touted to be more decentralized as it supports CPU mining, which has been the case so far. Even China's infamous ban, did not bring down network hashrate, just like it did to Bitcoin's 50% dip in hashrate.

However, in the past 24 hours alone, there has been close to 15% jump in the hashrate from 44% to 52% odd at mineXmr. This does not seem normal and has now become a major point of discussion that it could be seen as a deliberate attack on the network to double-spend.

The major problem is, the amounts spend/received cannot be deciphered, given it remains hidden on the Monero blockchain. Once hashrate has crossed 50%, anything is probable.

The ONLY trust factor is MineXmr owner remains loyal to the blockchain. Trustless has now become - trustful. And he is not willing to bog down, and he does not care and is willing to keep adding more hash power to his pool's throughput.

Really Sad!

More more info, read here:

EDIT1: 51% Attack Real-World Examples

Krypton and Shift, two blockchains based on , suffered 51% attacks in August 2016.

In May of 2018, Bitcoin Gold, at the time the 26th-largest cryptocurrency, suffered a 51% attack. The malicious actor or actors controlled a vast amount of Bitcoin Gold's hash power, such that even with Bitcoin Gold repeatedly attempting to raise the exchange thresholds, the attackers were able to double-spend for several days, eventually stealing more than $18 million worth of Bitcoin Gold. Bitcoin Gold was hit again in 2020.

Recently, the Bitcoin SV (BSV) network suffered an attack in August 2021.

EDIT2: An important comment by :

Yeah 51% attack is not a healthy thing and I wouldn't accept any payments as final until a few blocks of confirmation but right now there's no real threat to the anonymity of transactions, nor the amount of coins in existence. they can't change consensus either.

EDIT3: BEST explanation by

If the miners keep that going, it's not gonna be great for them at all. No one will accept to get paid by XMR even for trades. That would cause the price to drop and reduce their profits. That's really reckless.

From the perspective of other miners, they might feel scared that their blocks will be kicked out of the chain. I hope that doesn't cause them to move into mineXMR. I don't know how one would break that positive feedback loop unless the price hits bottom.

I love XMR; it's sad to see that happening.

UPDATE & FINAL EDIT4:

Posting this latest update from Monero community Mod. Do read, please ignore current FUD.

I'm a fan of privacy coins, big fan of Monero both for the anonymity, fast transactions and low fees. It is dumb and ridiculous Kraken are taking it down from their site due to "UK regulations"

Full email from Kraken:

Hello,

We are reaching out regarding an update to trading and funding of Monero (XMR) on Kraken.

In compliance with UK regulations, Kraken (Payward Ltd) will no longer be supporting Monero (XMR) on its platform.

Trading

On the 26th of November, all Monero (XMR) trading on Kraken will cease in the UK. This includes Instant Buy/Sell Services as well as order book trading on XMR/BTC, XMR/USD, and XMR/EUR.

Funding

Any deposits of Monero (XMR) in the UK will no longer be credited after 26th of November. Thereafter, Monero (XMR) balances can be withdrawn to a personal wallet or to an alternative exchange.

Margin

On the 23rd of November, 2021, your Monero (XMR) margin positions will be set to reduce only. This means that you will not be able to increase or open new Monero (XMR) margin positions. You will only be able to reduce open Monero (XMR) margin positions.

We kindly ask that you close any open margin positions involving Monero (XMR) by the 26th of November, 2021. On 26th of November, all open margin positions will be force liquidated and any open orders will be cancelled.

We appreciate your understanding and we apologise for any inconvenience caused. Should you have any questions, please do not hesitate to contact our support team.

Best regards,

The Kraken Team

Edit: wallets to use are GUI wallet + trezor optional, exodus and cake wallet

After months of work, we are happy to finally make public Haveno, the Monero based Decentralized Exchange!

For now it's only a Proof of Concept and the interface is still Bisq, but the base mechanisms are there and developers can already test XMR <-> Crypto trades!

Repository:

What's happening?

The calls for a native, decentralized and private way to exchange Monero for fiat currencies and other cryptos have been heard! Haveno is a fork of the , a decentralized exchange used to trade Bitcoin for national currencies and other cryptos. Haveno is based on Monero, making it more private and cheaper than Bisq (more info in the .

Haveno uses peer-to-peer networking and multi-signature escrow to facilitate trading without a trusted third party custodian. Disputes can be resolved using non-custodial arbitration.

The project has a core team, at the moment composed of myself (ErCiccione) and Woodser, the lead developer.

What's the status of the project

The platform has a long road to go before being available for public use. As said, the PoC is ready, but everything else needs to be done. We are tracking development using GitHub's issues and projects. Please take a look at the , but basically the most important tasks we are working on are:

• We need a logo. Right now it's a random stock image ()

• The User Interface is basically still Bisq. Needs to be completely reworked and adapted for Monero as base currency (). We are already in contact with an interested designer, but nothing has been decided yet.

• Clean-up the repository from Bisq-specific content ()

How can the community help?

Now we badly need:

• Contributors

• Funds

If you can help in any way, please let us know. Right now we mostly need coders (Java), network experts (for the underlying P2P/Tor infrastructure) and designers, but any help in any field would be really appreciated. Just contact us and let's build Haveno together!

Funds are also fundamental at this stage. If you can, please or to the project. We are thinking of incentive development through bounties, but we will also need funds to continue development. We are also considering opening a CCS proposal, but that will be decided later on, also depending by how much funds we are going to get without CCS.

Where are we?

The is our base. The main repository where the code sleeps is , but we also have a repository, used for proposals and project-wide issues/features that need to be added/discussed.

We have two rooms on Matrix, where we discuss and coordinate:

• Haveno (#haveno:haveno.network - : For general discussions about the project (relayed on Freenode: #haveno)

• Haveno Dev (#haveno-dev:haveno.network - ): For development related coordination and support (relayed on Freenode: #haveno-dev)

The question everybody want to ask

Yes, Woodser is already working in implementing atomic swaps for XMR <-> BTC trades on Haveno :)

We are very excited to finally go public and we are looking forward to hear your thoughts! :)

I imagine most people know Monero well, and that this sub will likely choose it blindly due to familiarity.

But rather than go to the Zcash or Monero sub, this is all we’ve got for maybe sort of not completely biased information.

What we know is that Monero is the oldest, like the Bitcoin of privacy coins. But is it still the best, over something like the next-largest privacy coin, Zcash?

Some mixed thoughts:

• Zcash is limited in supply. Monero has no max supply but a fixed emission rate.

• however, Zcash is more centralized, with ~5% of mining going to the developers.

• Point above may give a pro to Monero, however, this can be a positive for ZEC in having a present team to keep up with the crypto trends, as in…

• There is a roadmap for ZEC to go proof-of-stake. Developments like this can be maintained by a coin with a team behind it.

• Even having Monero can raise questions about your intentions. But Zcash allows you to choose whether to shield a transaction, making it not purely a privacy coin but more rounded - not nearly as eyebrow-raising.

• In the past, Vitalik Buterin alluded to his fondness of Zcash.

Do you still like Monero the best for its old, decentralized values and complete privacy?

Or do you like something newer with development and flexibility, since after all: who knows what trends will be present in the crypto world tomorrow where a coin must change again?

Any other pros and cons? Curious to hear this sub’s take.

I've done few minor transfers before with monero and everyting has gone fine.

Today I had to transfer few hundred euros by my binance, bought monero and wanted to transfer it to another wallet but binance has suspended monero transfers wtf??

I searched and found out that there has been this same shit going on, unfortunately it happend to me first time today when I was transfering bigger amount of money.

How long does those suspeds usually last, or wtf to do?

While on the surface it is easy to assume privacy coins like Monero are most useful for people who do unlawful things, that is is only one very basic way of looking at it.

Completely innocent "squeaky clean" people who use cryptos with transparent blockchains have often have no control or knowledge of exactly who they are transacting with. They can easily trade or receive coins that are connected to "shady" people or deals. Any innocent people caught up in this may be forced to fight to prove and maintain their clean reputation. Why risk having to go through that?

Using completely fungible privacy coins like Monero ensures that no matter who you transact with, you can not be "guilty by association". You can transact fairly without ever unknowingly putting your reputation on the line. This feature protects innocent people and brings great value to the crypto space.

Binance suppressing Monero Prices - Stop It!

Monero is a private blockchain, tracking volumetric activities on its blockchain is rather very hard if not completely impossible. Exchanges are carrying on some shady and dangerous activities such as offering more Moneros (XMRs) than they actually own in their reserves. This was seen at times, when exchanges such as Binance stopped XMR withdrawal for weeks (because they didn't have it). The reason they provided was "Network congestion" (May 2021). The real reason may be far from that. They lacked Monero liquidity.

Kevin Wad in his provides "factual reasoning" on how exchanges (esp. Binance) are playing a dangerous game of continuously suppressing Monero pricing. Monero is one of the most mature blockchains out there, with worldwide use, widely adopted in darknet marketplaces - and growing by the day at rapidest pace, most private cryptocurrency, lowest fees, and offers the best private digital currency as we know - it is still where it was back in 2017 ito. its price - something is not right if you think - and you're absolutely right.

Some bad actors - are taking advantage of Monero's design - its private blockchain.

Binance forms close to 20% of daily trading volumes for Monero off all exchanges, and that is already quite a lot. Followed by HitBTC, exchange, and OkEx.

Battle for Monero

Battle of the price may not be the first battle but is to become the more important battle for Monero. Monero community with all resources and all its intelligence must do something about it - IT IS HIGH TIME.

Q. What is Monero community doing about this, inspite of facts staring at our face?

[]

How safe is local monero ? Im buying xmr with cashapp. For a high amount and dont want to get scammed

Hello, I am looking places and online services specifically were I can spend my Monero apart from VPNs

PROS

I have been seeing a lot of concerns about privacy, and how various bills will make it so you are always tracked 24/7

XMR is the solution. It is untraceable (the US government has numerous multi million dollar bounties to track it that have been unclaimed for years).

Monero has low fees, and has very fast block times. You pay a couple of cents at most, and get the transaction usually within seconds.

It is also decentralized and very hard to attack since it is CPU mined (only, technically a GPU can mine it, but it’s less efficient than a CPU). This means that there aren’t any large warehouse farms to shut down. It so spread across the whole world being mined by people everywhere. There are also regular hard forks to prevent ASICS from mining it, and from it being able to be tracked.

CONS

There are some valid concerns with Monero, some of which being that XMR is so private there is no way to see the total supply.

XMR is also private, and a favorite tool of criminals since it is private. Both of these make it a target for governments.

It has also been alleged that one of the main contributors to XMR is working with Interpol as a informant. There has not been any proof of this, and he has denied this.