Monero: cryptocurrency than fixes Bitcoin's flaws?

Monero, an interesting cryptocurrency, has been making news recently. It is a lot like Bitcoin, but is also different and fixes a few of its flaws.
One good thing about it is it can be mined with general purpose computers, CPU and GPU. This isn’t possible in Bitcoin since long time ago.
Unlike Bitcoin, it is also fungible as it runs on an obfuscated blockchain, making it true digital cash.
Monero has risen @ http://coinmarketcap.com in the past month and is challenging other contenders behind Bitcoin.
Its development website: https://getmonero.org/home
Subreddit: https://www.reddit.com/r/Monero

Are there cryptocurrency enthusiasts here, what do you think of Bitcoin, Monero, do they have a future in the world, in Kenya?

how much does it take to mine?

BTC north of 1k from around 800 before xmas. monero the idea was good but after the pump and dump it became less desirable. I think etherium due to the corporate appeal should be worth watching.

Hardware wise it’s possible to mine on a laptop and you’re just surfing the internet. However I don’t recommend mining on a laptop as they run hot and can break. But if you have a desktop and it isn’t doing much work and most computers are 90% idle even when you’re actively surfing or typing, it’s a waste of CPU/GPU cycles that could be spent on mining.

Where is the dump? :slight_smile:

since unakaa experienced, what software can do this well?

Some time last year it shot and dropped like a stone. I guess some DNM exit scamming was the course. Just checked and it’s pretty holding up in relation to BTC northern tangent.

There are stages:

  1. you need to download and install the Monero client.
    https://getmonero.org/downloads/
  2. sync the blockchain.
  3. create a wallet, backup your mnemonic seed to restore the wallet in the future in case something happens to the keys file. Mnemonic seed is a combination of 25 words, write it on a piece of paper.

Now you have your wallet address and you’re ready to install the mining software, point it to a mining pool with your address and start making your computer hash (accept shares and crunch the numbers).
They’ve got a list of pools and mining software here:
https://forum.getmonero.org/13/mining-software-and-pools
https://www.reddit.com/r/MoneroMining/

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A few months is eternity in crypto, it’s recovered and shot up higher. Many great news and developments are in the pipeline.
I’m not here to give investment advice, but I believe it is looking like good at the moment.

mining any cryto currency that requires loads of computer power right now is a waste of resources and time. Since there are so many stable ones why not trade like forex. The small scale guys who were left with btc mining rigs after they became unprofitable have an upper hand.

P.S say something negative about Etherium, I saw the title its monero but the market cap is still smaller.

You’re right that mining is a business of its own.
The difference of Monero is it’s designed such that you don’t need special mining rigs to mine it like you do with Bitcoin. Monero hashing algo is well suited for your normal computer and it’s hard to design special rigs for Monero mining, some people call it egalitarian mining.
It’s not recommended to invest into computer hardware unless you know what you’re doing. Mining can be slightly profitable if your computer is turned on anyway and you’re just reading a book or surfing internet. CPU and/or graphic card can do valuable work.
Trading requires skills and years of experience, it’s easy to lose, 95% traders lose. Hobby mining doesn’t require capital investment, only time to learn the wallet, the mining software, and who knows if the few coins you mine will be worth a lot in the future, like Bitcoin is now worth a lot and years ago somebody paid 10’000 bitcoins for a pizza.

Ethereum is much different from Bitcoin and Monero, it is too complicated and its developer doesn’t even pose it as money and never did. I still don’t understand what Ethereum is good for besides trading if you know how to trade well (I don’t) :slight_smile:

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I have an idle laptop that I can hook up, it consumes less that 1 unit of power per 24hrs. Will read more. Karibu NV, kwako you dont need a special seat. :D:D

If you take the efforts to set up a wallet, I can send you a small amount of Monero, so you can experience what it feels like. I don’t know if this is allowed by forum rules to post such an offer. I won’t send much though, just some small change to get your feet wet in the cryptocurrency :slight_smile:

They have a GUI wallet now, it’s beta but it’s decent.
https://github.com/monero-project/monero-core/releases

I have electrum on laptop for btc among other online ones, dont get ahead of yourself NV. I can take the offer if it’s above $30 worth.

Haha, you seem to have your feet already wet :slight_smile:

Following very very keenly…

I have always had an interest in mining but never understood it completely…can we get a bit of direction here…

I have no idea what’s going on here and so is many talkers cc@123tokambio

nimefuata hiyo conversation ya webdev Na Ted sasa wacha nianze mining. @ted17 do I need a license from the ministry of mining?

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How much is a monero coin worth now and how long does it take to mine one?