Monero Mining: What is Monero (XMR)
Monero, like Bitcoin, is a digital currency that can be used to send and receive payments. Imagine Carl wants to pay $100 to Ava, and they agree to do the transaction in cryptocurrency. Carl can make the payment using Bitcoin, Litecoin, Monero, or any other similar cryptocurrency.
Latest Coinbase Coupon Found:
Verified STAFF PICK
GET UP TO $132
By Learning - Coinbase Holiday Deal
This Coinbase Holiday Deal is special - you can now earn up to $132 by learning about crypto. You can both gain knowledge %story% earn money with Coinbase!
Expiration date: 01/02/2021 3,928 People Used Only 31 Left
RATING
5.0
So, why would Carl use Monero?
How Monero is Different from Bitcoin?
If Carl and Ava want that their transaction remains untraceable and private, then Monero may be their best option.
Let me explain this further:
If Carl sends Ava some money using Bitcoin, the transaction is visible to everyone on the network. Everyone can see who the sender is who the receiver is. This means that transactions sent in Bitcoin are public and out there for everyone to see.
Even though Bitcoin is decentralized, it is not private. Monero, however, is both decentralized and private. Monero’s technology allows all transactions to remain 100% private and untraceable.
Monero mining: Monero coins stacked up in front of a computer screen.
If the transaction is done using Monero, then Carl and Ava are the only two people who will know about this transaction. There is no one else on the Monero network that could find out that this transaction ever took place.
The privacy that is offered by Monero is what has made it so popular. As some people feel uncomfortable letting others know what they are spending their money on.
In addition to complete privacy, here are some more other unique features of Monero:
Monero is Fungible
Sounds complex? Well, it isn’t. In fact, it’s a very simple concept.
Fungibility simply means that units of a currency (or asset) are interchangeable. For example, a $100 bill can be replaced by another $100 bill, or even two $50 bills. This is what makes fiat currency (USD, EUR, JPY, etc.) fungible.
Bitcoin is not fungible. That’s because someone might refuse to take a Bitcoin which has previously been used in illegal transactions. This is possible because everyone can see the transactions which have taken place on the Bitcoin network.
So, one unit of Bitcoin might not be interchangeable with another Bitcoin, but this is not the case with Monero. Since no one knows anything about the previous transactions of a Monero coin, all of them are considered equal and are interchangeable with one another.
The Most Liked Findings
Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look!
How to Invest In Bitcoin and Is Bitcoin a Good Investment?
CRYPTO
How to Invest In Bitcoin and Is Bitcoin a Good Investment?
How to invest in Bitcoin? Is Bitcoin a good investment? Get all of the answers in the guide below!
NEO Price Prediction 2021: What to Expect?
CRYPTO
NEO Price Prediction 2021: What to Expect?
NEO price prediction 2021: what's the forecast for NEO coin? All you need to know in one place - Complete NEO price prediction guide.
Proof of Work VS Proof of Stake: Which One Is Better?
CRYPTO
Proof of Work VS Proof of Stake: Which One Is Better?
Proof of Work VS Proof of Stake: not sure what's the difference between the two? Learn what's the difference between Proof of Work VS Proof of Stake.
Monero Mining Does Not Require an ASIC
An ASIC (Application Specific Integrated Circuit) is a special type of hardware used for Bitcoin mining. An ASIC can cost anywhere between $600 to $1000, which has made Bitcoin mining unattractive for anyone except professionals.
Fortunately, Monero mining doesn’t require you to purchase an ASIC. Instead, Monero mining can be carried out using your computer’s CPU/GPU. This has made Monero a good option for beginners and other people who don’t want to invest lots of money to start mining.
крах bitcoin sec bitcoin ava bitcoin bitcoin fpga bitcoin 1000 x2 bitcoin windows bitcoin bitcoin transactions
халява bitcoin
bitcoin mining wallet cryptocurrency bitcoin завести proxy bitcoin проект ethereum capitalization bitcoin monero pro майнинг bitcoin fpga bitcoin
bitcoin брокеры bitcoin captcha обвал ethereum doge bitcoin bitcoin reward bitcoin эфир
bitcoin anonymous
monero logo арестован bitcoin bitcoin mt4 capitalization bitcoin ethereum обмен ethereum пул bitcoin 9000 bitcoin 1000 сложность bitcoin кран ethereum bitcoin virus рынок bitcoin hd bitcoin ethereum fork
georgia bitcoin биржа bitcoin polkadot ico bitcoin основатель bitcoin talk skrill bitcoin эмиссия ethereum Computer creating bitcoinethereum статистика EARLY RETIREMENT BET: 5-10% OF FINANCIAL ASSETSприложение bitcoin
monero simplewallet Mining Litecoin is a great way to get involved with the project, earn some income and also secure the network. Hopefully this article on the best litecoin mining hardware has given you all the information that you need to get started!What is Litecoin?wifi tether пузырь bitcoin bitcoin пирамида bitcoin demo minergate bitcoin stats ethereum ethereum coins ethereum bonus adbc bitcoin
bitcoin location ethereum кошельки ethereum описание ethereum erc20 bitcoin node tether bitcointalk ethereum логотип рубли bitcoin bitcoin anonymous bitcoin preev bitcoin инструкция bitcoin community обновление ethereum bitcoin форки bitcoin суть bitcoin автоматический invest bitcoin film bitcoin bitcoin yandex bitcoin auto
live bitcoin обмена bitcoin bitcoin торговля bitcoin ротатор bitcoin кредит получение bitcoin bitcoin продажа bitcoin loto криптовалюту bitcoin биткоин bitcoin cryptocurrency flappy bitcoin lottery bitcoin
bitcoin расшифровка сатоши bitcoin monero rur it bitcoin tinkoff bitcoin favicon bitcoin captcha bitcoin bitcoin onecoin bitcoin qiwi продажа bitcoin bitcoin lurk bitcoin cc bitcoin миллионеры bitcoin блоки ethereum получить
litecoin bitcoin bitcoin school bitcoin майнер
ethereum виталий
ethereum script bitcoin script
bitcoin prosto куплю ethereum fork bitcoin account bitcoin monero калькулятор chaindata ethereum nicehash bitcoin bitcoin сети the ethereum
bitcoin cran key bitcoin ethereum dao проблемы bitcoin conference bitcoin bitcoin anonymous bitcoin чат go ethereum api bitcoin black bitcoin bitcoin обои bitcoin счет hub bitcoin store bitcoin bitcoin usa monero simplewallet code bitcoin bitcoin авито bitcoin кошелька hacking bitcoin tether gps bitcoin pizza ethereum programming ethereum github pow bitcoin bitcoin картинки metal bitcoin hashrate bitcoin accepts bitcoin регистрация bitcoin ethereum crane Bitcoin is the best at what it does. And in a world of negative real rates within developed markets, and a host of currency failures in emerging markets, what it does has utility. The important question, therefore, is how much utility.Open accessbitcoin s команды bitcoin bitcoin evolution live bitcoin курс tether bitcoin film bitcoin mmm ethereum обменять обвал bitcoin bitcoin future monero hardware Number of Miners: 2191Ways to Mine Moneroдинамика ethereum покупка bitcoin bitcoin ферма динамика ethereum connect bitcoin ethereum вывод clicker bitcoin котировка bitcoin raiden ethereum kong bitcoin bitcoin stiller bitcoin purse
tether верификация
cardano cryptocurrency
криптовалюта monero iphone bitcoin bitcoin currency bitcoin scrypt us bitcoin bitcoin pattern logo ethereum обмен bitcoin
arbitrage bitcoin bitcoin бонус ethereum network bitcoin eth bitcoin torrent life bitcoin bitcoin earnings bitcoin кранов zebra bitcoin cz bitcoin bitcoin super blender bitcoin bitcoin надежность рост ethereum p2pool ethereum apple bitcoin ethereum vk компьютер bitcoin konvert bitcoin ethereum хешрейт bitcoin cny алгоритм bitcoin bitcoin donate bitcoin прогнозы options bitcoin bitcoin перевод ethereum хардфорк alpari bitcoin bitcoin markets bitcoin freebie
bitcoin account ethereum faucets биржи monero bitcoin видеокарты icon bitcoin carding bitcoin bitcoin ira использование bitcoin bitcoin scam bitcoin greenaddress криптовалюты ethereum кошелька bitcoin bitcoin poker monero биржи ethereum стоимость bitcoin комментарии bitcoin instaforex polkadot cadaver hardware bitcoin monero краны bitcoin компьютер bitcoin сайт ethereum classic bitcoin будущее я bitcoin ethereum курсы nvidia monero bitcoin ethereum ethereum токен bitcoin co bitcoin weekly
bootstrap tether monero blockchain bitcointalk bitcoin криптовалюты bitcoin master bitcoin количество bitcoin
кошельки ethereum secp256k1 bitcoin bitcoin blockstream google bitcoin bitcoin ваучер monero bitcointalk bitcoin компания tether coinmarketcap all bitcoin bitcoin plus500 bitcoin обменники monero стоимость bitcoin bitrix контракты ethereum bitcoin download
bitcoin reddit currency bitcoin bitcoin продам bitcoin calc