A Primer on Monero: Will it Really Provide "Untrackable Secure Privacy"?

drschilling (38)in #monero • 7 years ago

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GENERAL INFO

Monero is a awesome project, very complementary than BCH IMHO. [1]
Monero is a private digital currency that is focused on anonymity. [2]
Supporters of Monero firmly believe that Monero is the only anonymous cryptocurrency in the market that had launched transparently, without pre-sales and conditional mining deals. [3]
Monero is a straight Techno tool composed by essential drum elements, supported by rounding chords and dark vocals shapes. [4]
Monero is an alternative coin in the world of cryptocurrencies, much stronger than Bitcoin in terms of privacy protection. [6]
What interests us the most about Monero is the future of being a "Store of Value". [7]
For now, Monero is the queen bee of anonymous cryptocurrencies, with a current market cap of more than $1.9 billion. [8]
Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures." [9]
Monero is a secure, untraceable and resilient digital currency. [10]
"At the same time, the reason we work on Monero is the real, practical use cases. [8]
Monero is a digital currency that was founded in April 2014 under the name BitMonero. [5]
Monero is a cryptocurrency that aims to be more anonymous than Bitcoin, and has become a recent favorite of the online drug trade. [11]
As of April 2017, Monero became the 6th most traded currency in the industry. [5]
Why is Monero so popular? Monero is one of the cryptocurrencies which has maintained the high privacy of its coins and coin holders. [5]

KEY TOPICS

Starting August 23, when Bithumb began to accept deposits from Monero traders, the price of Monero surged, even before the exchange fully listed the cryptocurrency. [12] The price hike followed an announcement that South Korean exchange Bithumb would soon add monero as a trading pair. [9] While it's often hard to pin down the underlying causes of price fluctuations, news that South Korean exchange Bithumb is soon to launch trading in monero may be in part responsible. [13]

Bithumb is set to list Monero in its cryptocurrency trading platform tomorrow, on August 27. [12] This week, Bithumb, South Korea’s leading bitcoin exchange and the world’s largest cryptocurrency exchange, is about to provide the push Monero has long needed. [12] I store large amounts in monero and bitcoin and use income to invest on the volatile alts if I want to try my hand at making money. [14]

Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures." [9] The price of monero, the privacy-oriented cryptocurrency created in 2014, shot up sharply this morning, shattering its previous record by around $35. [9] Monero grabbed headlines last week when it saw at 80% value increase in one day, as the price per coin rocketed from $35 up to $95. [9] Because it handles around $700 million worth of trades on a daily basis, the integration of Monero by Bithumb is expected to be an immediate and drastic increase in liquidity for Monero traders, users and investors. [12] Monero was able to rise by 22 percent earlier today due to upward momentum supported by Bithumb and optimistic traders in Asia. [12]

I hear there's going to be a fee on monero on bithumb when it comes out. [1]

Users can meet and exchange monero for cash, or buy it online from a local seller. [9] By taking advantage of ring signatures, Monero makes it ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user. [14] BTC's greatest asset is store-of-value but Monero is superior in all ways for day-to-day transactions. [14]

Monero, the world’s second largest anonymous cryptocurrency, is up 22 percent again today, on August 26. [12] Deposit Period: August 25, 2017 (Fri) 4 Pm, Deposit wallet address open ~ August 28, 2017 (Mon) 12pm (Noon) KST Trading Period: August 28, 2017 (Mon), Monero listed ~ August 31, 2017 (Thurs) 00 am (Midnight). [1] If you want to do something for Monero, write to every trading platform you know and ask them to carry Monero. [14]

A lot of people hedged their Bitcoin worries into Monero last weekend. [14] People in Monero understand where they have put their money and why. [14]

This means you won't have to worry about Monero blacklisted by exchanges or vendors. [14] On a side note this price hike makes mining Monero on Ether mining rigs competitive. [14] Making monero easier to use is key to massive influx of users. [14] The whole reason i made the purchase is i felt its good for the economy to use monero. [14] It's still very very cheap IMO. Monero has tech nobody else has, a real use case, and growing recognition. [14] In June, the Shadowbrokers announced that they were now accepting Monero for payments for their "Monthly Dump Service." [2] Because of the on-by-default nature of the privacy technologies, Monero is fungible, meaning one Monero will always be equal to another. [14] That's not to say Monero will correct all the way down to 0.0115 or that it isn't a good coin. [14] For many years, Monero has been regarded as one of the few cryptocurrencies that is highly legitimate, backed by an experienced and talented development team. [12] The Monero development and community have shown unity since it forked off from Bytecoin, with almost all of its hard forks executed without any contention amongst developers, community members, industry and miners. [12] Community is everything, and the more I read the more I fall in-love with Monero. [1] Here's what I do: if I make a purchase and pay with Monero, I then buy back the same amount of Monero. well, sometimes almost as much. [14] I wasn't able to buy more monero beforehand due to bank issues. [14] Monero can't be hacked to steal your funds, due to the power of distributed consensus, which you can read about here. [14] Like I said nothing suggested Monero would rise like this overnight. [14] I knew Monero had bad penetration into the Asian market so 2 weeks ago I told her that she needs to write to them to ask them to add Monero.[14] Look at what the Koreans did to BCH, just imaging the influence they could have on Monero. [14] One monero token was worth around $128 at press time, according to CoinMarketCap. [9] Especially if they buy a shit ton of Monero before announcing that they will list it. [14] Tomorrow, as Bithumb completes its last phase of integration and opens Monero trading, the price of Monero will likely surge once again. [12] Monero trading is set to commence on August 27, according to an announcement by the exchange. [13]

Monero is a awesome project, very complementary than BCH IMHO. [1] The most important thing is that I think that Monero is covered for the long term now. [14]

The power of the blockchain usually increases security at the cost of privacy, but with Monero's sophisticated privacy-centric technology, you get all of the security benefits of the blockchain without any of the privacy trade-offs. [14]

Korea-based bitcoin and cryptocurrency company Bithumb announced today that they will be opening up the exchange to Monero starting on August 23rd. [15] Knowing how a market works, sometimes it is really hard to pinpoint what was the reason for this sudden change in price, but here one of that factors that effected the fluctuation could be that the South Korean exchange Bithumb did enlist Monero in their infrastructure. [16] Lastly, to welcome Monero joining the exchange, Bithumb will be rewarding the top 50 biggest traders in terms of volume through midnight August 26th thru August 27th, with 100 XMR on hand to be given out. [15] Monero tapered a bit the following day but resumed its rally on August 25 when Bithumb began accepting XMR deposits. [17] The exchange will be offering a 1% additional premium of XMR on top of any deposited Monero tokens during the deposit period from midnight Wednesday, August 23rd thru Friday, August 25th at noon, Korea Time.[15] At present, Monero is trading at $156 on Bithumba full $12 higher than the CoinMarketCap average of other exchange prices. [17] According to the report and announced the SK exchange platform did, Monero will start trading on August 27. [16] On August 23, they will begin accepting Monero deposits, and they will hold a special trading promotion through August 27. [18]

Monero is not the only coin currently experiencing a trading volume surge on Bithumb. [17] Bithumb traders have a history of pumping coins, so don't be surprised if Monero continues to ascend to new records this week. [17] Last week, the rally began when Bithumb announced it was about to add support for Monero to its cryptocurrency exchange. [17] The primary factor influencing this rapid advance was the announcement that Bithumb, the world's highest-volume cryptocurrency exchange, had decided to list Monero to its platform. [19]

Monero is a cryptocurrency that aims to be more anonymous than Bitcoin, and has become a recent favorite of the online drug trade. [11] Bitcoin STRONG, Monero STRONGER I love this chart of Monero right now against Bitcoin, XMRBTC Bitcoin/Dollar is incredibly strong, but Monero is showing strength against Bitcoin, when most coins are weak against BTC right now. [20] He simply believes that Monero is better than Bitcoin and that a local option to buy the currency was needed since Bitcoin already has one. [11] To purchase Monero, you may have to first use Bitcoin, leaving a clear digital trail. [11] Last year, the dark web black market Alphabay enabled users to accept payments in monero as an alternative to bitcoin. [21] Last year, AlphaBay, one of the biggest drug markets at the time added Monero as a payment option. [11]

This move will enable Monero to break into the lucrative South Korean markets and gives XMR its first KRW trading pair. [19] Other methods of trading Monero, such as on a cryptocurrency exchange, may require you to reveal your identity. [11]

Unlike Bitcoin transactions, Monero trades aren't plainly viewable on a public ledger. [11] By taking advantage of ring signatures, Monero makes it ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to a particular user. [15] Monero: new long positions wait for backtest old resistance Monero took out the old resistance at approx 0.025 with a bang on news it will get listed on Korean exchanges. [20] XMRBTC BOTTOM FOUND? watching for a rebuy on the current deepweb favourite. large bull runs caused by Moneros addition to the Korean ALTCOIN market and, if I'm being honest it is well overdue for Monero. [20]

On Wednesday, August 23rd, Monero deposit wallet addresses will open. [15] Besides, a new Android mobile wallet for Monero is now under development. [21]

The authors of this site and/or the authors of articles linked to from this site may have financial investments that may bias their opinions, including ownership of Monero currency. [10] While the site's founders are based in Hong Kong, listings offering Monero for cash from all over Canada, the U.S., the UK, and the United Arab Emirates, have already popped up on the site. [11] Monero Looking To Continue Flying The Flag Monero has been a megabull of late, making some long overdue moves to solidify itself as one of the premiere alt coins. [20] Unlike other cryptocurrencies, monero was designed to be more private, so it is completely anonymous and virtually untraceable. [21] 'LocalMonero' wants buying Monero to be even more anonymous. [11] News like this could drive the privacy-conscious toward anonymity-centric altcoins such as Monero, Dash, and Zcash. [19] At present, Monero needs to add about $270 million to surpass ethereum classic and re-enter the market cap top 10. [18] This marked another important milestone for privacy-centric Monero, which has been on a year-long bull run that began when the now-defunct darknet market AlphaBay began accepting it as payment in August 2016. [19] During the month's first three weeks, Monero mostly tracked the wider market movement, rising to $54 on August 21. [19] Alex said that he doesn't want LocalMonero, and Monero itself, to be associated with crime. [11] Monero could be used for "literally everything money is used for today," he wrote. [11] Look for RSI to fall in the coming days and Monero to test the old resistance line. [20] Monero looks in a good position to be worth 0.1 or more some day. [20]

Monero is a secure, untraceable and resilient digital currency. [10] "Monero's defining feature is privacy, so going through ID/address verification kind of ifies the point of using Monero unless you're just using it as a speculative asset," Alex wrote to me. [11]

One of the leading South Korean cryptocurrency exchanges Bithumb has recently announced plans to launch monero trading, what has possibly driven the growth of its price. [21] Monero price reached a new record on Monday, rising to $95 following news that Bithumb, the world's most-used cryptocurrency exchange, would soon add Monero trading pairs to its platform. [18] On August 25, Bithumb began accepting XMR deposits, and the Monero price jumped to a new all-time high of $101. [19] The Monero price continued to climb as traders rushed to deposit their coins on Bithumb. [17] The XMR markets responded very positively to the Bithumb announcement, and the Monero price immediately shot from $55 to a record-setting $95. [18] XMR pierced $150 on August 28 as Monero trading opened on Bithumb. [17] The Monero price has initiated an impressive rally during the latter half of August, culminating in a 7-day rise of 100% between August 21 and August 28. [17] The Monero price set a new record on Friday, piercing the $100 threshold for the first time in its three-year history. [19] This caused the Monero price to rocket past $100 for a new all-time record. [17]

For an altcoin, the Monero price had remained fairly steady throughout the first three weeks of August. [18]

What if you could buy Monero offline, with cash, in a public place like a library or a restaurant? That would make Monero transactions much more anonymous, save for the person you're meeting. [11] In that case, the LocalMonero founders will simply fade back into the ether, like a Monero transaction conducted with cash. [11]

This rally increased Monero's market cap to $1.2 billion, making it the record-setting 11th cryptocurrency to join the $1 billion club. [18] When Monero is mentioned, drug markets on the darknet aren't far behind. [11]

Users of bitcoin that are conscious about their transactions and the traceability of their payments will likely switch over to Monero as its liquidity will drastically increase with Bithumb. [3] Join us as we talk about Bitthumb adding Monero to their exchange, the debut of LocalMonero.co, Globee's ninja launch, RuffCT, the IRS tracing 50% of all Bitcoin transactions, Taylor Swift's new single, and lots more. [22] The integration of Monero by Bithumb is expected to allow Monero to overtake Dash in terms of trading volume and for the first time since its launch, secure an active trading community apart from Poloniex. [3] As of today, Monero holders can start depositing XMR to the Bithumb exchange. [23] Already, the market has responded to the announcement of Bithumb, as even prior to accepting deposits, the market cap and price of Monero increased significantly. [3] With trading beginning on the 26th, people have about 48 hours left to stock up on Monero if they think they price will rise. [23]Law enforcement agencies expect digital currency trading platforms that have integrated Monero to help the government to crackdown on criminals using Monero to launder money and finance criminal activity. [3]

Have you ever wondered what the attitudes of lawmakers and regulators are towards privacy issues with Bitcoin and privacy-focused cryptocurrencies like Monero? This past week, I traveled to Coin Center in Washington, DC to talk with Jerry Brito (Coin Center's. [22] Like Bitcoin it is not known exactly who created Monero; it was first outlined in an October 2013 whitepaper by the pseudonymous figure Nicolas van Saberhagen and called Cryptonote. [24] Today, I talk with Chris DeRose of the Bitcoin Uncensored YouTube show and podcast about changes he's undergoing with his show, his thoughts on the Monero community and the potential future Monero needs to plan for, and the movements of.[22] The past week has been quite eventful for Monero and Bitcoin. [22]

Monero, the second largest privacy-focused anonymous cryptocurrency behind Dash, has recently demonstrated a rapid increase in value after being adopted and integrated by Bithumb, the world’s largest cryptocurrency exchange by volume. [3] The adoption of Monero by Bithumb will likely trigger a surge in demand towards anonymous cryptocurrencies in the upcoming months, especially in Monero. [3] Bithumb’s decision to integrate Monero also sets a positive precedent for the cryptocurrency industry and the community’s viewpoint on anonymous cryptocurrencies.[3] Since its early days, Monero has secured its title as the most transparent and secure anonymous cryptocurrency. [3] Supporters of Monero firmly believe that Monero is the only anonymous cryptocurrency in the market that had launched transparently, without pre-sales and conditional mining deals. [3] As an anonymous cryptocurrency, Monero has obviously been the go-to choice for online criminals. [3] Due to its efficient and practical marketing, Dash evolved into a leading cryptocurrency why Monero struggled to become a major cryptocurrency. [3] By the end of this month, Monero investors and traders will be provided with drastic improvement in liquidity, due to the integration of Monero by Bithumb. [3] Last week, Bithumb announced its plan to fully integrate Monero by August 27. [3]

Monero has been listed on the world's top exchanges for quite some time now. [23] Exchanges have been reluctant on listing Monero due to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. [3] For people looking to exchange monero, i just wanted to drop here the most active exchange to do that. [25] It is evident people want Monero to succeed very badly, which is understandable. [23] Monero is one that comes to mind, where it’s not very obvious what the transaction path is or what the actual value of the transaction is except to the end users," said Special Agent Battaglia. [3] It revealed that deposits for Monero users will be open by August 23. [3]

Monero continues to develop with goals of privacy and security first, ease of use and efficiency second. [24] A group of enthusiasts have launched a new website dedicated to connecting buyers and sellers of the privacy-focused cryptocurrency monero. [26] For years, Monero was used as one of the main payment methods on some of the world’s largest dark web marketplaces. [3] For many years, Monero has had difficulty appealing to the general consumer base unlike Dash. [3] Over the past three years, a wide variety of companies have gotten involved in the Monero ecosystem. [22]

In February, DeepDotWeb reported that the FBI and many other law enforcement agencies were concerned with the applicability of Monero and its anonymous nature. [3] I am monerol, i like Monero and i will do everything for its success. [25] This is a necessary point release of Monero v0.10 "Wolfram Warptangent", and it is a mandatory update due to the April 15th hard fork,. [25] Open-source coders on the Bitcointalk forum disagreed with thankful_for_today's direction for the currency and forked it in 2014 to create Monero. [24] Criminals and money launderers also have been using Monero in order to anonymously transact amongst each other. [3] Today could turn out to be a very good day for All Monero holders. [23] Since ever Monero have changed my life to better in every aspect. [26]

Currently trading just under it's all time highs XMR is gaining big attention after reports surfaced that the Wannacry operators exchanged the 50.2 bitcoins they gained from the international cyberattack into the equivalent in Monero (XMR). [24] Monero (XMR) has gained big attention in recent days after the operators of the WannaCry cryptoransomware worm exchanged the 50.2 bitcoins earned from the attack into XMR, the "untraceable" private digital currency backed by Monero. [24]

As such, the exact person behind a Monero transaction is not known; this results in considerable increase of privacy compared to Bitcoin and its forks. [24] As a response, the ShapeShift team announced that it would assist law enforcement in tracing the transactions but it would be difficult considering that Monero transactions are completely private. [3]

Monero (XMR) is a decentralised open-source cryptocurrency forked from Bytecoin in April 2014. [24] Today Kraken is launching support for trading Monero (XMR). [25]

Ring signatures combine or 'mix' a user's account keys with public keys obtained from monero's blockhead to create a 'ring' of possible signers, meaning outside observers cannot link a signature to a specific user. [24]

RANKED SELECTED SOURCES

(43 source documents arranged by frequency of occurrence in the above report)

1. (22) Price Discussion Thread - August 21, 2017 : Monero

2. (22) Anonymous Cryptocurrency Monero Sees Drastic Increase in Liquidity, Adoption by Largest Exchange - Deep Dot Web

3. (16) Monero Rises From Dark Web: Why Cryptocurrency Users Want More Privacy

4. (15) You Can Now Buy the Privacy-Focused Cryptocurrency Monero Offline With Cash - Motherboard

5. (15) XMR.TO Review - Monero To Bitcoin Cryptocurrency Payments Anonymously?

6. (10) MONERO -- True financial privacy in a continually more regulated world

7. (9) Monero Price Up 15% as World’s Largest Cryptocurrency Exchange Prepares Integration - NEWSBTC

8. (9) Monero Price Pierces $150 After Bithumb Opens XMR/KRW Trading - CryptoCoinsNews

9. (9) Monero Price Index - Real-Time XMR/USD Charts and News - WikiCrypto

10. (8) The Parabolic Rise of Monero (XMR) | Oracle Times