Posting these questions for an economist friend who is not (yet) a believer in Monero. Considerate replies only please. Discuss!
Given XMR allows for total privacy of who owns it & how much they own, how will price discovery work if we (the market) don't have that information?
Do we currently have a way of measuring how much XMR is being freely exchanged in the market (aka money velocity) & identifying how much has been saved in cold-storage or lost?
These quantities/rates are fundamental to placing an actual value on the currency if it is to be used for trade. For example, if a few early adopters own the vast majority of the XMR network but don't use it, leaving only a small fraction for the free market to utilize for transactions, that will have a significant impact on prices(in XMR) for goods being sold or purchased.
So to reiterate, how does price discovery work when there is an unknown amount of XMR in actual circulation at any given time due to the strict privacy measures installed in the currency?
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A Deep Dive into Database Attacks [Part III]: Why Scarlett Johanssons Picture Got My Postgre Database to Start Mining Monero
Hello! I am a total noob when it comes to mining, I don't even understand the concept. Can somebody tell me how to do it and what I would need? How much would it cost? Can I do it on a 5-year-old HP Pavilion laptop and/or a Samsung Galaxy? Thanks.
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What is the future if all governments follow the japanese lead and try to ban Montero from the exchanges?
I believe you just need one guy somewhere hosting the exchange + BTC or other coins need to be legal to exchange Monero and you can still hide your traces. But I am not sure, is this right?
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I'm looking for a small mobile-app project to teach myself React Native. One thing I'm considering is a Monero wallet that runs on your phone, but doesn't scan the blockchain itself. You would run a "full" wallet on your desktop or a VPS so that it runs all the time and is always in sync. Then the mobile app would simply communicate with this full-wallet via HTTPS.
This would prevent you from having to scan for new txs every time you opened your mobile wallet.
Would anybody be interested in using something like that if it had a slick UI? Or is the separate wallet-backend app running on your home desktop a deal-breaker?
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I've seen people confused about the differences between exchanges so I did some research on some of the most popular Crypto to Fiat Exchanges. These are all exchanges I have personal experience with. They are all solid products but they come with slightly different user experiences and fees.
If you would like to learn in more detail about the UI/UX, Fees, and difference between Coinbase, Coinbase Pro, Cash App, and Kraken read my complete article on the Best Crypto Exchanges
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So I've been trying to figure out how to get around the kyc here in america because I don't want monero users to have to buy a burner phone every time they use the atm (kyc through phone number works and was a good idea until I realized the impracticality of trying to use it as a get around).
So I'm just spitballing here. Can I make it operate in the same sort of fashion that prize/gumball/claw machines or casino chips operate. If you think about it, all that needs to happen is the recipient needs to get some sort of secure way to retrieve the crypto. Let me clarify.
If someone needed to buy monero they'd insert cash or card, the machine would ask how much they'd want, they would be charged and the machine would give them an item that would indirectly give the recipient monero.
Now here is the tricky part. If I blatantly exchange fiat for any cryptocurrency I'd get in trouble because it violates a bunch if laws and blah blah blah. So is there a way to make that last step a sort of mix between, chips at a casino or prize machine? Take for example a prize machine, if you insert a coin you get a prize. But in this case you could in theory buy a token that would hold the same value as however much monero you wanted.
I was thinking, the machine spits out extremely low capacity micro sd cards and on that card you have a file that holds the keys to a wallet that holds the monero. In this case the sd card itself isn't any form of currency. The sd card only holds coded information which is infact protected under the 1st amendment (Bernstein v. Department of Justice https://www.clearinghouse.net/detail.php?id=13683). And at the same time, it holds the monero you wanted.
For crypto other than monero, I would probably just require a phone number because it would still be less privacy invasive but not not make the recipient have to go around the whole anti-kyc process.
This is only half of the problem. The other half would be to find out how to change that monero back into cash. I have a couple ideas but I'm just gonna solve one problem at a time. Thanks!
Edit: spelling and clarification
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Anyone out there with a silk road / alphabay / tainted BTC who wants to exchange it for a clean one?
I’ve got a taker for you on Twitter who seems to believe Bitcoin taint doesn’t exist.
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So I’m new to Monero, it’s quite interesting. I’m trying to buy some Monero online, and safely/successfully get it to market. I’ve received opinions before, but I feel this sub is best suited for this question.
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Krakens Top Crypto Traders Reveal Bitcoin (BTC) Forecasts List Ethereum Monero XRP Litecoin and Tezos As Favorite Altcoins