brito on Nostr: Supply schedule you can find on your own, basically it is decentralized and cannot be ...
Supply schedule you can find on your own, basically it is decentralized and cannot be censored. Historically the US-government has provided a reward for experts to break the anonimity but hasn't been accomplished so far.
Backdoors/issues have so far not been detected, albeit security vulnerabilities and weaker implementations are patched. The software is 100% open source and under audit by other people. Developers tend to keep their identity anonymous (for obvious reasons), some exceptions have been Fluffypony which in the meanwhile was arrested under non-crypto-related charges.
Buy with KYC is difficult since 2024 because the west governments not only forced Monero out of the top exchanges such as binance, they also closed websites like https://localmonero.co where sellers and people could meet in person to buy monero or use other methods like mail.
At the moment there is a reorganization to find new ways. In my country this has been through our local networks, the sellers advertise on the local groups and since they are well-known to the members, there is enough trust to trade XMR for other things, usually with a third-party as mediator to hold the assets.
Fully remote exists with reto: https://retoswap.com/ where you can use normal bank transfers and paypal to other users while staying anonymous for small values. For bigger values it is common to KYC buy a coin with reduced volatibility such as LTC and then send to a non-western exchange for trading with monero.
Mining is still possible on Monero using a normal laptop, it's mining is resistant to ASIC and GPU techniques and therefore any normal person can mine. The most common software for that nowadays is Gupax: https://gupax.io/
Another big difference on mining is being also decentralized. Albeit mining pools exist, Monero promotes P2P mining. Which has the advantage of zero commissions as normally charged by mining pool owners and you get XMR payments on daily basis.
Cold wallets are really simple compared to bitcoin. The principle of functioning is the same but the fees with each payment are really low (typically 1 cent or 2 cents per transaction) and relatively faster. So it is common to use cold wallets with frequency. Even thought each payment is concluded in a few minutes, it is courtesy to wait some 15 to 30 minutes before confirming the transaction as closed.
Most common wallets are the default software from Monero for the desktop and on cellphones it is common to see CakeWallet being used.
Cold wallet is basically a combination of the secrets words, therefore exists the usual care to write them down in several copies of paper so you can restore the account at any time.
Privacy compared to lightning was better details by experts around here than me. If you use the search function you will find good conversations. In a nutshell, the owner of the channel has full visibility on the IP address and from there becomes easier to find your identity and to which bitcoin wallets you later convert the satoshis. But on that topic my knowledge is limited so please DYOR.
Backdoors/issues have so far not been detected, albeit security vulnerabilities and weaker implementations are patched. The software is 100% open source and under audit by other people. Developers tend to keep their identity anonymous (for obvious reasons), some exceptions have been Fluffypony which in the meanwhile was arrested under non-crypto-related charges.
Buy with KYC is difficult since 2024 because the west governments not only forced Monero out of the top exchanges such as binance, they also closed websites like https://localmonero.co where sellers and people could meet in person to buy monero or use other methods like mail.
At the moment there is a reorganization to find new ways. In my country this has been through our local networks, the sellers advertise on the local groups and since they are well-known to the members, there is enough trust to trade XMR for other things, usually with a third-party as mediator to hold the assets.
Fully remote exists with reto: https://retoswap.com/ where you can use normal bank transfers and paypal to other users while staying anonymous for small values. For bigger values it is common to KYC buy a coin with reduced volatibility such as LTC and then send to a non-western exchange for trading with monero.
Mining is still possible on Monero using a normal laptop, it's mining is resistant to ASIC and GPU techniques and therefore any normal person can mine. The most common software for that nowadays is Gupax: https://gupax.io/
Another big difference on mining is being also decentralized. Albeit mining pools exist, Monero promotes P2P mining. Which has the advantage of zero commissions as normally charged by mining pool owners and you get XMR payments on daily basis.
Cold wallets are really simple compared to bitcoin. The principle of functioning is the same but the fees with each payment are really low (typically 1 cent or 2 cents per transaction) and relatively faster. So it is common to use cold wallets with frequency. Even thought each payment is concluded in a few minutes, it is courtesy to wait some 15 to 30 minutes before confirming the transaction as closed.
Most common wallets are the default software from Monero for the desktop and on cellphones it is common to see CakeWallet being used.
Cold wallet is basically a combination of the secrets words, therefore exists the usual care to write them down in several copies of paper so you can restore the account at any time.
Privacy compared to lightning was better details by experts around here than me. If you use the search function you will find good conversations. In a nutshell, the owner of the channel has full visibility on the IP address and from there becomes easier to find your identity and to which bitcoin wallets you later convert the satoshis. But on that topic my knowledge is limited so please DYOR.