Monero to btc reddit

Published 06.12.2021 в Play free online betting games for final four

monero to btc reddit

Bitcoin, the most popular coin, has shed close to half of its value since a Cryptocurrencies Trending on Reddit in March. Monero. Cryptocurrency Official Subreddits. The Official Subreddit dataset comprises all discussions posted to r/bitcoin,r/ethereum, and r/ monero. I started an exchange through changenow using cake and it's just sitting saying it's waiting for the btc deposit. Its been roughly 12 hours. ETHEREUM TAKING LONG TO TRANSFER COINBASE

However, a few days later, the team opened up the wallet interface and the hack-proof code and convinced the community to adopt a more user-friendly name for the coin. Monero is a cryptocurrency and decentralized blockchain ecosystem powered by the RandomX protocol. The Monero cryptocurrency uses a one-time ring signature algorithm to perform anonymous transactions.

When choosing a name for their coin, the developers were inspired by the international language Esperanto. Thanks to ring signatures and hidden addresses, Monero is a private cryptocurrency. A ring signature is an anonymous digital signature that does not reveal who signed the transaction. Those signatures are generated on the Monero platform by combining sender keys and public keys on the blockchain.

Hidden addresses are random addresses generated during each transaction for one-time use. Ring confidential transactions RingCT also hide the transaction amount; this feature was introduced in January as a requirement for all transactions performed on the Monero network. The Proof-of-Work PoW algorithm is used for confirming transactions on the network.

Miners find the Monero coin XMR quite interesting since its supply is unlimited. The coin is used in transactions when anonymity is required. The data is provided by the crypto analytical source TradingView. A Monero transaction is a transfer of value from one address to another. The transaction spends the outputs of previous transactions as it's input.

The entire value of an output is spent, so any remainder may be sent back to the sending address - this is called the "change". A transaction is created by a user on their Monero client software, then broadcast out to all the other nodes and becomes part of the Blockchain. Are Monero transactions anonymous? Can Monero be traced? The blockchain is a public record of all transactions by all addresses. Monero is specifically designed to be extremely difficult to link the history of transactions.

An address is just a number - it doesn't reveal anything about the identity of the one using it, like a street address can. As long as this number is never linked to an human identity, the Monero user is safe. There is no way to "trace" a Monero address to the person using it - unless they leave clues connecting their Monero address to their physical identity.

Can Monero be mined? What is Monero mining? How does Monero mining work? Monero mining is the computational process of adding new blocks to the blockchain. New transactions are grouped together in a block. New blocks must cryptographically connect to previous blocks with a proof-of-work hash function. Mining hardware is designed to the hashing function as quickly as possible.

Miners are paid a small transaction fee for including new transactions in blocks. Mining also creates new Monero coins, which go to the miners. Can Monero be taxed? Are Monero gains taxable? Are Monero transactions taxable? Monero was not designed to be taxed. If no one reports their Monero gains, there is no way an authoritarian regime can know who gained what. However, centralized exchanges with accounts and IDs do report their user's Monero balance to tax authorities.

If you want privacy from authoritarian regimes, you need an accountless exchange that doesn't ask for your ID - bitni. How does a Monero ATM work? Are Monero ATMs safe? Are Monero ATMs anonymous? Monero ATMs allow a customer to buy Monero by inserting physical cash, like a vending machine, or send Monero to receive physical cash.

The former are called "1 way" ATMs and the latter are called "2 way". If the Monero ATM is from a trusted manufacturer and operator, it should be safe to use. Can Monero scale? Monero has scaled to handle millions of transactions per month.

Monero is software, and it can evolve to scale - the code can be modified with better algorithms and the network then upgrades to the more advanced version. Monero was modified from Bitcoin as an attempt to help to solve scaling issues, by creating a new block every 2. Can Monero be stolen?

Anyone who knows the private key can move the coins from an address. If the private key is not known, it's not possible to spend the coins at an address. Monero stored in the wallets of a centralized exchange can be stolen - it happens all the time. At a Non-custodial exchange like bitni. Can Monero be hacked?

If the Monero network could be hacked, it would have already happened. The blockchain is decentralized across thousands of independent nodes - the more nodes on the network, the higher the security. If any one node is compromised, it will not compromise the others. However, centralized Monero exchanges are hacked all the time! That's why you need a non-custodial exchange like bitni.

Where is Monero stored? Where to store Monero? The data of all Monero transactions is stored in a public ledger blockchain distributed as peer-to-peer shared files. Each node has a complete copy of all transactions ever made - the blockchain. So the blockchain is stored in the cloud - not on a centralized server, but on thousands of independent nodes. Each user's Monero balance is also kept track of in their wallet. What is a Monero wallet? How do Monero wallets work? A Monero wallet stores all of the user's Monero addresses.

The sum value of all of the addresses in a wallet is automatically added up - this is the total balance of a wallet. Centralized exchanges store the user's wallet, which is risky. Non-custodial exchanges like bitni. Who uses Monero? Where is Monero used?

Millions of people everywhere in the world use Monero for all the same things as any other money is used for - buying, selling, and donations - and the number of users is growing rapidly. Anyone needing to transfer wealth internationally, especially outside the grasp of authoritarian regimes, for ridiculously low cost, will find Monero useful if they are not already using it.

Monero is also used as an investment and a hedge against inflation. Who accepts Monero? Where is Monero accepted? Many merchants, especially online, accept cryptocurrencies as payment. Charities like Wikipedia accept donations in crypto. Web Hosts and Domain registrars often accept crypto. Large brick and mortar stores are starting to accept crypto payment. Some local restaurants are also coming on board. Why is Monero the future? The reason why a cryptocurrency is the future can be summed up in 3 words: Because it's better.

Monero is a huge improvement over fiat currency. It is also an improvement over precious metals - they can't be wired over the internet. If central banks continue destroying the value of fiat currencies, cryptocurrencies will become even more important to the future of money. Can Monero crash? Will Monero crash?

If Monero were going to crash to zero, it would have probably done it already. There have been wild price swings - because it's new and there's a lot of speculation, like the internet when it first came out. But there are wild price swings with other commodities like oil.

Monero's low after it's all-time high of several hundred dollars is still scores of dollars. Is Monero a good investment? The Original Bitcoin has gone from pennies to thousands and thousands of dollars in less than a decade, utterly blown away the stock market, even gold and other precious metals, and far outperformed pretty much any other investment.

While Monero has not reached Bitcoin's high, it has performed relatively well, going from pennies to several hundred dollars at it's high - a pretty good investment. Where to buy Monero? How to get Monero? Exchanges are where Monero is bought and sold, however there are several types: Centralized Exchanges store the user's coins like a bank and require ID.

Decentralized Exchanges DEX facilitate peer-to-peer buying and selling between users - and these can be done locally in-person or online. Non-Custodial exchanges like bitni. Can I buy Monero without ID? Is there a way to get Monero without SSN? Many Centralized exchanges have rigorous requirements for identification, such as uploading a scan of passport or other government documents.

Decentralized exchanges usually have less stringent requirements for identification, especially if the transaction is in-person. Non-custodial exchange bitni. If you want Monero without SSN, you've come to the right place.

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