CPU

generateduser29128

I've built systems that can handle several million transactions per second. The problem is not the throughput or CPU/GPU usage, but storing all the data that gets generated. Dealing with multi-Gbit speeds quickly limits your nodes to large corporations with big datacenters. At that point your blockchain is just a poorly implemented PayPal.

Vonsoo

Could you provide a link to some ADA overview? I'm interested how can we prevent a whale from pretending to be multiple tunas. You can't run multiple nodes on a single PC? One node per source IP or something (but then what about nodes hosted inside Google or Amazon - many behind single public IP). My understanding from ETH is that someone with 320 ETH can easily run 10 nodes on a single PC (it would require expensive CPU and multiple 2TB SSDs, but these are still peanuts if you have 320 ETH).

jlew24asu

next to nothing. this isnt GPU/CPU mining.

sgtslaughterTV

https://xrpl.org/system-requirements.html - so I have a couple of gripes: I've worked at several PC hardware manufacturers before, including an SSD and RAM manufacturer. The XRP ledger seems *relatively* lightweight, but to maximize throughput they're leaning towards node operators having 64GB of RAM. The CPU seems reasonable though...

OffThread

The value is the lack of trust needed to utilize the medium. It's decentralized as no one party can control the outcome of any individual part of how the network operates, only a consensual agreement between the majority of the network's CPU power can dictate a new direction.

jakekick1999

Thats good news ! I have been mining a bit of XMR on my CPU while the GPUs mine ETH. Definitely support the project, not for the gains but for what they stand for. Right to privacy is something that I truly value.

Specialist_Olive_863

In a way it is. At least in my country. Miners were buying up all the GPUs, if you walked into an IT mall you would see shops with mining racks being built for sale. We also had a shortage on everything else as well like CPU's and RAM which increased the price overall for an entire PC for us. While following the bread trail a lot of people buying from scalpers were miners who at the time could RoI those GPUs easily back then. That caused scalpers prices to be at about 3-4x of MSRP.

DragonSided-D

This is a real danger for BTC. Because it is ASIC-mined, only large organizations can usefully mine. Corporates are always under the sway of governments, especially authoritarian ones. Decentralization comes from CPU mining, allowing average users being able to usefully earn coins from mining on their own consumer-level PCs and laptops. Decentralized mining pools like [p2pool](https://p2pool.io) are the best possible protection against 51% attacks. Fun fact: with [a few mouse clicks](https://imgur.com/gallery/4Da5R6q), *you* can start earning untraceable anonymous XMR. You don't need an ASIC. You don't need an expensive GPU. You need 50GB (pruned) or 200GB (full) disk space, and a CPU.

Kekkins

yes, If you do it for work if you want to use Asic for BTC or LTC a single Asic is not enough, if you want to mine ETH a single GPU is not enough, if you want to mine Monero a single CPU is not enough, but if you want mining at home just to learn or to have fun a single CPU / GPU is enough for other small coins even if you don't have a real income for mining...

polloponzi

There is so much FUD or ignorance in your comment. The cost of mining bitcoin is no less than the cost of staking Ethereum. In both cases you have to put a great amount of capital to make meaningful returns. In the case of Bitcoin that capital goes to buy miners and electricity and in the case of Ethereum the capital goes to buy Ethereum. In the case of Bitcoin you don't have to mine solo, so you can join any miner pool and you get to pay daily even if you mine with a CPU. You don't need to compete to generate a block on your own, so just join a pool and get your fair share according to your hash rate.

d13co

No, hypnosis is almost certainly bullshit, but it seems you're quite close. Your problem is technological: 1) You need to convert the wallet to a format that a password cracker can process 2) You need to generate a wordlist of possible passwords. 3) You need to crack the password. This may take time. So: For (1) you need to run this script to convert your multibit wallet file to a hash: https://github.com/openwall/john/blob/bleeding-jumbo/run/multibit2john.py This is from "John the ripper" (a famous and trusted password cracker) extended scripts repository. You need to run it with python. For (2) you need to code a bit. For (3) you will either be lucky or not: multibit has at least 3 different hashes, one that you can likely crack really fast (md5) and two that will be s l o w (scrypt). If your wallet is MD5 (should start with $1$) you are one lucky mofo. The difference between slow and fast hashing on a good GPU can be 10M/s vs 100/s. This will determine whether it is feasible at all. You'll need some hardware and time. I'd try to use oclHashcat (GPU) or hashcat(CPU) or johnTheRipper (CPU) if it supports your hash. The following modes are supported: 22500 | MultiBit Classic .key (MD5) | Cryptocurrency Wallet 27700 | MultiBit Classic .wallet (scrypt) | Cryptocurrency Wallet 22700 | MultiBit HD (scrypt) You can see these [here](https://hashcat.net/wiki/doku.php?id=hashcat) but apparently at least one dude was SOL because his hash wasn't supported (see [this thread](https://hashcat.net/forum/thread-9738.html)) and he had to use CPU cracking (jtr - johnTheRipper) In short you'll need some technical expertise and if you're considering hypnosis you're likely lacking the scripting abilities to automate this. I've done this for myself several times (all sorts of wallets/disk encryption/etc) If you want further help reach out in DM. I'm not DMing first as that's scammer 101 playbook. **Important note**: You should be safe to share the hash with your hacker friend **but not your wallet file**. The hash is just an "encrypted" (kinda) representation of your wallet password and _will not contain your actual Bitcoin keys_. You'll have to share your recollection of the words and the hash (so they can crack it) **but under no circumstances should you share your wallet file**. Agree to a helper fee via gentlemen agreement (you give them 5%) and keep your word if they help you unlock the wallet. Again: sharing the wallet file _and_ your fragments of the password puts the power in your hacker friend's hands. Don't do it. Hash + words = power in your hands.

comfyggs

From the Bitcoin White Paper “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

MostlyPseudonymous

Even if your electricity was free, the damage to your laptop from thermal exposure and poor cooling will be more expensive than anything you can mine with CPU or GPU on any 'basic' laptop.

Trans-on-trans

I believe the recent dump of BTC has more to do with less GPU/CPU mining and more ASIC mining, as GPU mining actually applied the difficulty to process with work, vs ASICs that just flip a switch and maximize mining x crypto with ease. ASICs stealing the show in productivity, while being very technologically-exclusive, difficult to obtain, and notoriously difficult to reproduce/repair, setting a precedent for extremely centralized mining software.

DuncanDickson

So your argument is hash rate? ASICs promote centralization. CPU optimized mining supports decentralization. What happens to the hash rate when the last BTC is minted? Dead so you don’t care? Will the next generation feel that way? Will it impact security? The future is uncertain. What if there is a computing cryptography breakthrough? Will BTC react? Will it react quickly enough? I know the Monero community will stay on the forefront of tech like they have so far. BTC has more hashrate. XMR is more secure and addresses issues that could have never been foreseen with BTC.

x2c3v4b5

Your seed phrase security setup is fine. Just get a cold storage device. Air gapped means that the CPU you use is NEVER connected to the internet.

lightgreenhoney

I think the reason mining is unprofitable is because when people build GPU mining rigs they often don't want to just waist the CPU so they mine with that even if its a bit unprofitable this then makes it more unprofitable But if you are right I think I would rather a botnet be mining than wearhouses full of ASICs

SomeBrokeChump

Do you realize that someone can rent GPU or CPU hashrate to attack an ASIC resistant cryptocurrency? All of the ASICs are why Bitcoin is the most secure cryptocurrency. Those ASICs are why Bitcoin has such an enormous hashrate. Those ASICs are why Bitcoin is the most secure cryptocurrency. And ASIC resistant cryptocurrencies gets mined by mining malware that's illegally installed on people's servers without their knowledge. Those criminals botnet operators didn't pay anything for that hardware and they aren't paying anything for that electricity they're stealing. Because of this, it's not profitable for people to mine at home. [Click here to look at a mining profitability calculator for the main ASIC resistant cryptocurrency that uses a proof-of-work consensus mechanism.](https://www.cryptocompare.com/mining/calculator/xmr?HashingPower=100&HashingUnit=KH%2Fs&PowerConsumption=1200&CostPerkWh=0.12&MiningPoolFee=1) That cryptocurrency isn't really profitable to mine at home because it's mainly mined by botnets.

SomeBrokeChump

Do you realize that someone can rent GPU or CPU hashrate to attack an ASIC resistant cryptocurrency? All of the ASICs are why Bitcoin is the most secure cryptocurrency. Those ASICs are why Bitcoin has such an enormous hashrate. Those ASICs are why Bitcoin is the most secure cryptocurrency.

ImLinker

True I love XMR I think it's an amazing asset. I need to get on an exchange that allows me to purchase it though. I've been wanting to get some for months and I need to get my CPU's mining it.

ST-Fish

>This paper highlights a few deanonymization methods using linking and clistering algorithms with publicly available data to derive btc addresses on LN, will this or far more advanced methods not be used in the future? I understand you not reading the paper I linked, but not even reading the paper you linked is straight up embarassing. >The goal of this work is to cluster BTC entities based on their interactions with the LN and then unambiguously link these clusters to LN nodes that are under their control. Technically, this corresponds to finding a function that takes a set of LN channels as input and returns tuples of the form (entity, node) for which it can be asserted that the LN node is controlled by the linked BTC entity. >The linking algorithms and clustering algorithms described in this work allow attributing activity to BTC entities derived from their interaction with the LN. Assume that a cluster is formed by a certain number of BTC entities and LN nodes, then if any of the LN nodes has publicly identifiable information (e.g., alias or IP address) This entire paper assumes everyone using Bitcoin is running a bitcoin LN node under 1 static IP, and reusing the same UTXO for channel opening and closing over and over again, which is obviously not the case. >They dont need the entire network, problem is transactions can be discriminated against by miners now which results in even longer wait times among other issues, this should be unacceptable. Why? The miner can include whatever transactions he wants in his block, in any blockchain. He can choose to not take the highest fee, and just include his transactions for free. If he keeps ignoring high fee transactions from you, the miners that don't will push him out of the market. This is a non-problem, since any miner that does such a thing won't get big enough to be able to have any meaningful delay to your transaction confirming. Waiting 1 more block can be just the effect of the miner randomly choosing another transaction with the same fee as you, or your transaction not being propagated to the winning miner node's transaction pool in time, and you wouldn't be up in arms about the delay. >You have to pay a centralized chinese company hundreds of dollars I'm sorry, but does Bitmain have some sort of approval from a consortium of Bitcoin, that allows them to build ASICs? No? Anybody can build them? Then what's your point here? >one cpu is not one vote anymore, cpu only would be far better. Why? You keep repeating this, but the fact that this makes Monero susceptible to widespread malware making up big parts of the hashrate seems to not bother you at all. >efficient mining requires 2gb of ram to mine efficiently which disqualifies most low end machines like iot devices How many devices with more than 2gb of ram do you think exist out there? >its also very heavy on resources which makes it easier to notice. How many people that use devices with >2gb of ram do you think will really notice this, considering how tech illiterate most people are. Especially if it stops when they open the task manager, and if it throttles down to not really use the whole CPU, I see no reason why 90% of people would just think the latest software update just slowed things down a bit. >Im gonna need you to elaborate on this Centralized mining pools have pretty much no power over the network, since they cannot perform a 51% attack, even if they have more than 51% of the hashrate. Shadowmining and not sending the miners their rewards would result in all of the miners jumping ship pretty much immediately, way before an attack could happen. >Isnt that what bitcoin cash does? seems to work well for them having insane tps and fees fractions of bitcoin whilst being not much different than bitcoin. And why do you think nobody uses it? Why has everybody moved on? Bitcoin Cash has no future, if it ever got near the amount of transaction LN gets on the BCH L1, it would immediately bloat the ledger history. It's also what Solana does, and you've seen how well that worked. Scaling up doesn't work.

DREAMEATER__

Private - the IRS has a massive prize out for anyone who can decrypt the blockchain. They don't for any other crypto. That alone should tell you something about its value. It's what everyone thought bitcoin was at first: a genuinely private fungible token Decentralized - users add to the network by downloading the entire blockchain and running their own nodes. Anyone can do this, it's dummy easy and running a personal node adds an extra privacy layer. You can however connect to a public node remotely, usually run by a community member, if you dont wanna download a like 130gb file, you just lose that layer of privacy. CPU mining - If you have a computer, you can mine this coin. No need for pricey gpus or ASICs as randomx is optimized to run on the cpu, and is not worth mining on anything else. Furthermore, scaling up a mining operation gets extremely pricy to the point of it just not being worth it as instead of just a bunch of gpus linked together, you need the WHOLE setup: cpu, mobo, power supply, and RAM. This prevents a small number of people from hogging all the hashrate, decentralizing even mining. The GUI wallet has p2pool integration right in it now. No dev fee, open source pool mining right in the wallet gui (which also runs a private node) that pays out faster than most other pools. TOR - you can set up a node that you can access remotely with all the traffic routed through tor, adding ANOTHER privacy layer on top of this already impenetrable privacy onion lol. To me, XMR is end-game crypto. Ethereum has smart contracts and NFTs, XMR has privacy and fungibility. I truly don't see a need for any other crypto besides these two. Look at the XMR boards: we got eaten alive the last week, way worse than most others, and there was almost no panic posting whatsoever. People really believe in this tech. They aren't gambling, they're supporting a network they believe in.

dwdwfeefwffffwef

Also with a PoS attack, people can agree to hard fork the network to a new network what removes the coins staked by the malicious actors. With PoW a similar hard fork to stop the attack would need to change to a new, incompatible algo (in case the coin is mined with ASICS), which fucks all the legit miners, or basically can't do anything if it's meant to be mined on CPU or GPUs.

MoneroWTF

Its fungible like money should be, it has dynamic blocks to support growth, fees get smaller as blocks get larger, and it has a tail emission to keep the miners mining. Rate of inflation is low and consistently steady so as to make individual monetary policy planning easily accomplished. Transfers are cheap, very quick to appear, reasonably quick to finalize, and there is no RBF so no appreciable double spend risk. Its also CPU mined. No asics, no FPGA. You can use your GPU but you'll make a lot more GPU mining something else.

Risto_Reipas

Hardware wallet doesn't protect you this any more than a regular wallet. Computer operating system has different security clearance levels. Any competently coded crypto wallet resides on the highest security clearance level of your computer, and stores keys in the hardware security module, called TPM or trusted platform module. This module is essentially a hardware wallet inside your CPU that is designed for secure storage of cryptographic keys. Windows clipboard on the other hand resides on the lowest security level. It needs to so it can be accessed by all programs. Otherwise you couldn't copy-paste between different programs. It is like the town square. It can be accessed even just by website you have open in your browser. I repeat: for this attack to happen, you don't need to be infected by a virus. Having a malicious website open is enough ! Only protection against this is to manually check the address, and preferably copy it manually. For this reason, never ever copy paste sensitive data ! Never copy-paste passwords, seedphrases, encryption keys, crypto addresses or anything that could be used maliciously !

dtxs1r

I've been buying since before MtGox when CPU mining was the only way to generate bitcoin back when most of the posts in this subreddit were software wallet related. I've seen A LOT of crashes and I've lost my myself ass on a few crashes. For some people they get easier while for others it always feels like this time could be the very end. My advice would be if you're thinking about selling to make your decision sooner than later. A lot of coins will never recover. I don't think this crash will be any different than any of the other crashes. Yesterdays ago the world ending crash was Mt. Gox today it's the stablecrash. Eventually the price will stop falling and there will be a whole new world of crypto winners and losers.

Veg_AN

>Bitcoin was conceived more than a decade ago as “digital gold,” a long-term store of value that would resist broader economic trends and provide a hedge against inflation. LOL wut?? That's not what "Bitcoin was conceived as". Here's the Title, Abstract and Conclusion from the now (in)famous whitepaper: ​ >***Bitcoin: A Peer-to-Peer Electronic Cash System*** > >***Abstract.*** *A purely* ***peer-to-peer version of electronic cash*** *would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.* > >***Conclusion.*** *We have proposed* ***a system for electronic transactions without relying on trust****. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power. The network is robust in its unstructured simplicity. Nodes work all at once with little coordination. They do not need to be identified, since messages are not routed to any particular place and only need to be delivered on a best effort basis. Nodes can leave and rejoin the network at will, accepting the proof-of-work chain as proof of what happened while they were gone. They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism.* \--- Bitcoin was (seemingly)\* intended to be a "digital currency and electronic payment system", but eventually found favor as a "store-of-value / digital gold" because it's ability to function as a reliably useful "currency" was impeded by the wild price swings it came to be known for, rendering it more appealing as a speculative asset rather than a functional currency. \*I use "(seemingly)" above because I'm highly skeptical of what the "true intention" behind the creation of bitcoin was / is, but the whitepaper clearly outlines an electronic currency and payment system, not "digital gold" as the NYT suggests with their opening paragraph. It only became more appealing as a store-of-value because it's simplistic design and decentralized nature ultimately made it a terrible currency, but that *IS* what the whitepaper aimed to brand bitcoin as.

FellowOfHorses

Are there Any coins that are best mined in a CPU?

RandomUser02891738

Which is the same reason ethereum is going PoS. To reward the devs and insiders who hold tons and tons of ethereum. That's really the only reason. Sure, less electricity is something but they could have just changed PoW algorithms to a CPU one like RandomX. You can't ASIC that shit, and GPUs are no good.

Fiach_Dubh

> Is it advisable to run my own btc node on my Plex server running Unraid? I'm not familiar with that OS/software, but Bitcoin should be able to run on anything. the initial download and syncing is the most intensive part of the process. >Is it CPU intensive? depends on your cpu, but the initial sync does require some medium cpu usage. >Why do I see people say I need to be behind a Tor or VPN? Is that just extra security? you don't need to be, but it is advisable if you are going to use the node as a broadcaster for your Bitcoin transactions. Even if you don't do this, running a vpn or bitcoin over tor is privacy best practise. >Is running a stand-alone btc node not enough? the rabbit hole never ends. running a btc node is just another step down the rabbit hole, there are many more things that can be done to improve your setup. >It’s not like I’m doing anything shady, I just want to play with technology since I got the hardware to do it and of course give back to the community. then you should be fine, there's nothing shady about running a Bitcoin node anyways. people seem to get a intimidating impression when they hear, run a node. but it's really just installing the program and letting it run in the background. it's harmless and easy.

kilingangel

Ok ok 👍. Is it advisable to run my own btc node on my Plex server running Unraid? Is it CPU intensive? Why do I see people say I need to be behind a Tor or VPN? Is that just extra security? Is running a stand-alone btc node not enough? It’s not like I’m doing anything shady, I just want to play with technology since I got the hardware to do it and of course give back to the community.

Valdorff

Ok. You have a lot of errors here. The biggest one is about swapping. Let's assume the attacker knows you only use swaps.They just need to try swapping each word (24) with each other word (23) - this is 552 options. What if there are 2 swaps? With replacement, we add 24\*23 again; without, we'd add 23\*22. Either way, this simply won't do - each swap from the original adds under 10ms to the attack. So if you think you'll just try storing your phrase with a couple swaps - it'll take les than a second to break if the attacker thinks to check swaps (which is pretty obvious). \---- Moving on, let's talk about if you properly did a completely random shuffle. You have a \_major\_ error in how long a single try takes. I used my computer and passmark scores to estimate what a 3970X CPU could do, and got around 60k attempts per second. Also - you're calculating the time to try all options, which is quite different than the time to get the correct one. A good way to look at this is a hypergeometric distribution (https://en.wikipedia.org/wiki/Hypergeometric\_distribution), where there's only K=1 sucessful choice out of a population of size N=6.204484e23. Then based on how secure you'd like, you're asking, what n gives acceptable security. Let's say you want no more than 1 in 1000 chance they luck out. We calculate: .001 = n\*(K/N) = n \* 1/6.2e23; n=6.2e20. Ok - so *now* we can ask how long it takes to do this many trials. At 60k attempts/second, that's 1.03e16s, or 327M years. Still a ton, but this is (1/60M)th of your initial estimate

justmadethisnow1000

This would only utilize the CPU, or am I wrong? The CPUs in TFT nodes aren't very powerful, mainly focus on lots of cores. I'll be using 256gb of RAM with 2 3gz 10 core CPUs, I'm not sure that would make more than few dollars BAN mining

FetidGoochJuice

Can just run it on my CPU and GPU while I study its great. If you got the means and the time give it a go!

CointestAdmin

#Monero Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Monero Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #Monero Pro Argument (Part 1/2) > > - Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/ovmttk/rcc_cointest_coin_inquiries_monero_proarguments/h7d1e6i/). > > - *Disclosure: I currently hold a position in XMR, ~2% of my current portfolio value* > > - **TLDR**: Privacy is a human right and Monero is the leading project aimed at protecting that right. Optional privacy is not sufficient for anonymity. If exchanges delist privacy coins, Monero will still be able to meet market demand through p2p channels and atomic swaps. > > ##Monero: Built different > > **Monero (XMR) is a cryptocurrency focused on private and censorship-resistant transactions** > > - Privacy is a [human right](https://en.wikipedia.org/wiki/Right_to_privacy), recognized by the [UN Declaration of Human Rights](https://www.un.org/en/about-us/universal-declaration-of-human-rights). Even if you have '[nothing to hide](https://en.wikipedia.org/wiki/Nothing_to_hide_argument)' you should still care about privacy, as [I argued for the Cointest Privacy - Pro argument](https://np.reddit.com/r/CryptoCurrency/comments/pfopc9/rcc_cointest_general_concepts_privacy/hf5o1sv/). > > - Monero has many of the attributes that people find valuable about Bitcoin. However, it also improves on some key aspects to align more with [the original vision of Bitcoin](https://np.reddit.com/r/Monero/comments/morrpp/satoshi_talking_about_privacy_features_that_got/) and the original [cypherpunk](https://en.wikipedia.org/wiki/Cypherpunk) vision of cryptocurrency in general: > > - Monero was created by an anonymous dev: like Satoshi, the pseudonymous creator of Bitcoin, Monero was created by an unknown entity, [Bitcointalk user thankful_for_today](https://bitcointalk.org/index.php?action=profile;u=233561;sa=showPosts). > > - Monero is a fork of Bytecoin, outlined in [Nicolas van Saberhagen's 2013 white paper ](https://bytecoin.org/old/whitepaper.pdf) which argued that "Privacy and anonymity are the most important aspects of electronic cash" and proposed areas to improve upon Bitcoin's design. > > - Like Bitcoin, Monero is an 'OG' PoW coin (2014 mainnet) with no premine or ICO > > - Monero does not have a hard capped supply like Bitcoin. > > - Monero *does* have a decreasing block reward schedule like BTC - but it doesn't trend towards zero over time. Instead, [the block subsidy will trend toward a fixed amount to incentivize participants to keep mining blocks](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). The current [annual inflation is 1.45% and decreasing until "tail" emission kicks in around 2022](https://moneroj.net/inflation/). > > - [Proponents regard this as an improvement over Bitcoin](https://np.reddit.com/r/Monero/comments/3z527f/does_monero_have_a_maximum_cap_like_bitcoin_21/). It's unknown if, in the future, transaction fees will supplant the mining incentive that secures BTC's blockchain once the block reward becomes extremely small > > - Unlike Bitcoin, Monero [does not have a fixed cap for block size](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). Instead, it has a dynamic block size, meaning that blocks can expand or shrink to accommodate demand. > > - *[Mining](https://moneroj.net/hashrate/)* > > - Unlike Bitcoin, Monero is designed to be ASIC-resistant with an intent to reduce the dominance of mining pools running specialized, high-performance mining hardware > > - Monero can be mined somewhat efficiently on consumer grade hardware such as x86, x86-64, ARM and GPUs > > - Moreover, Monero's updated PoW algorithm (from CryptoNight to RandomX) favors CPU mining and weakens GPU effectiveness > > - *[Fungibility](https://academy.binance.com/en/glossary/fungibility)* > > - Fungibility is a key property of currencies - at a high level it means that one dollar bill is equivalent to and interchangeable with another dollar bill. > > - Well 1 BTC = 1 BTC right? Yes, at the protocol level there isn't any distinction made between each BTC unit. > > - Fungibility is more ambiguous at the social and political levels. [Some bitcoins have a 'tainted' history due to being used for illegal purposes, confiscated, etc.](https://sethsimmons.me/posts/fungibility-graveyard/) Exchanges and other institutions can then blacklist coins using chain analysis. > > - If 'clean', freshly mined coins are seen as more valuable than older 'dirty' ones, then that undermines Bitcoin's fungibility. > > - Privacy > > - Monero's **private by default** protocol preserves the fungibility of the asset by obscuring transaction sources, amounts, and destinations. > > - Most blockchain networks today reveal information about your holdings and transactions: > > - "[Bitcoin is only semi-private; the protocol doesn’t know your real name but transactions can still be linked to you in a myriad of ways.](https://medium.com/human-rights-foundation-hrf/privacy-and-cryptocurrency-part-i-how-private-is-bitcoin-e3a4071f8fff)" > > - Blockchain analytics firms ([like Chainanalysis](https://www.cnbc.com/2021/03/26/chainalysis-doubles-valuation-to-2-billion-with-benioff-backing.html)) specialize in deanonymizing crypto activity and sell this data to corporations and law enforcement agencies. > > - In contrast, Ring signatures, stealth addresses and RingCT (Ring Confidential Transactions) make Monero unlinkable and untraceable. > > - If you [search for an address in the Monero block explorer](https://localmonero.co/blocks/search/41mT1gUnYHK6mDAxVsKeB7SP9hVesbESbWcupd7mMYC73GL4nSgsEwTGKHGT7GKoSEdMKvs8Fdu1ufPJbo5BV4d1PfYiEew), you'll see that you can't tie any holdings or transactions to it. > > - I would argue that privacy by default makes Monero more valuable vs. [optional privacy implementations](https://www.wired.com/story/harry-pottery-cryptocurrency-privacy-zcash-monero/) like [Litecoin's MimbleWimble upgrade](https://twitter.com/DavidBurkett38/status/1356469626511712258), Dash's PrivateSend or more direct competitors like Zcash (ZEC) > > - ZEC uses zk-SNARK proofs, which are not fully trustless: "[zk-SNARK proofs are dependent on an initial trusted setup between a prover and verifier, meaning that a set of public parameters is required to construct zero-knowledge proofs and, thus, private transactions.](https://academy.binance.com/en/articles/zk-snarks-and-zk-starks-explained)" > > - If users do not shield their ZEC transactions - and most do not - a third-party can uncover shielded transactions through process of elimination. > > - If you give people optional privacy they don't really use it - thus [Monero's month-over-month increase in transactions surpassed all shielded Zcash transactions *ever*](https://twitter.com/JEhrenhofer/status/1380566462344101899). > > - In September 2020, the US IRS criminal investigation division (IRS-CI), posted a [$625,000 bounty for contractors who could develop tools to help trace Monero](https://decrypt.co/41411/the-irs-is-offering-you-625000-to-crack-monero). However no team has provided convincing evidence of their success. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4ybr/coin_inquiries_round_monero_proarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds.

Flynn_Kevin

Honestly the plan was to wait for that & Ryzen 7000 AM5 socket, but my rig started rebooting itself last week. Diagnosis was power issuses in the CPU. Either the power delivery on the board or CPU is failing. Probably the CPU, a little bump to voltage stabilized it. Any more will be beyond max. Not surprising, it's lived its 18 years overclocked and done a fair share of mining. ROI several timea over. Next gen tech is promising, but the suspected power draw for RTX4000 is pretty high, and DDR5 is still expensive and maturing.

mind_on_crypto

"The slow adoption of the internet was due to the fact you had to build the system out and build physical improvements as the technology changed. It's the same with computing power, it takes physical time and resources to actually get the gains for new CPU designs and factories." "Cryptocurrency at its most complicated form is just pushing some code around, nothing phyisically groundbreaking..." First, I never mentioned the Internet. Second, you're taking my computer analogy too literally (it's an imperfect anology to be sure, but I do think it illustrates the point that major, tech-driven changes sometimes take decades to play out.) Third, you're being way too dismissive of crypto as a potential disruptive technology. The disruption it represents threatens some very powerful and entrenched economic, financial and political interests, and as such it's not surprising at all that mass adoption of crypto hasn't happened overnight. On a similar note, I also think you're shortchanging the advances and potential for disruption that blockchain technology represents. On a purely technical level, crypto and blockchain together represent a lot more than simply "pushing some code around."

Gaujo

Private Fungible Scarce asset Low transaction fees CPU mining Ever-decreasing inflation rate

Speedy-08

That's actually an even worse argument to be frank, the slow adoption of the internet was due to the fact you had to build the system out and build physical improvements as the technology changed. It's the same with computing power, it takes physical time and resources to actually get the gains for new CPU designs and factories. Moores law was recognised in the 1960's after the co founder of Intel hypothesized that computing power would double every time it was worked on due to the physcial repackaging of components. https://en.wikipedia.org/wiki/Moore%27s\_law Cryptocurrency at its most complicated form is just pushing some code around, nothing phyisically groundbreaking, thats why 13 years in the space is comparitively forever and why it takes next to nothing for someone to fork from an existing crypto. That's why I used the phone software analogy.

Maxx3141

> So I restart my computer, and without opening anything my CPU is running and I'm still getting lag spikes. Something hijacked my computer and is mining in the background. If there is no further evidence, your conclusion is highly unlikely in my opinion. Was the CPU under 100% load? Have you seen any process that might indicate what you are saying? And finally checking if the problem continues offline would be a nice cross check. But sounds like it's too late now.

SamWizza

Higher CPU/GPU = network stability / 51% attack unlikely.

nullama

> As unfortunate as that kind of trade is in retrospect For laszlo it was literally free pizza. He is not mad about it, he even continued to buy more pizza with his CPU mined bitcoins. He then even released the first GPU miner, and continued to buy pizza with it. Then when lightning started he bought more pizza with bitcoin through lightning. Just buy and replace.

nom420

The inception didn't face the incoming onslaught of climate change and environmental concerns, and serious problems with the energy cost of mining. I wish I hadn't deleted my bitcoin wallet in 2009, but case in point, I mined several coins with an old CPU not knowing what would happen. I'm sure a lot of people did the same thing I did "this is stupid" \*delete\*. However, I was mining with a cpu. Now people are taxing the power grid with GPUs arrays and getting jailed in numerous countries for it. I'm not gonna sell jack yet, but I'm still wondering if I'm going to lose everything or not, because I've been "buying the dip" for over a year now.

Lamuks

I'm pretty sure he means that the algorithm specifically doesn't allow specialized CPU's to have an advantage when mining XMR.

nullama

From Genesis you were able to make transfers using Bitcoin, now called Bitcoin Core. To actually get some coins, 50 to be precise, you had to mine them. In the year 2009 it was simply clicking on Generate Coins in the Bitcoin software. The CPU would mine, and because the difficulty was so low, you would get a block in minutes/days with the coins. To make a transaction you would just click Send and input the address. All done in the same software. The first Bitcoin transaction was made from Satoshi Nakamoto to Hal Finney in 2009. [You can see it here](https://mempool.space/tx/f4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16). It was for 10 bitcoins for testing purposes. [You can read here about the early days from Hal directly](https://bitcointalk.org/index.php?topic=155054.0). Long but recommended read. You can also sell goods and services for Bitcoin. The first example of that was in May 18, 2010, when [Laszlo bought 2 large pizzas for 10,000₿](https://bitcointalk.org/?topic=137.0). Laszlo was not just a random dude, he published the first GPU miner. Also, he is still happy with his Bitcoin pizza purchase. At the time it was basically free pizza, as Laszlo has mentioned. You could get that amount of bitcoins in a few days mining with any standard computer.

Derek-Gridlock

Haha ok, here's the long story. Back in 2009, my friend asked me if I had heard about this new thing called Bitcoin. Like almost everyone else when they first hear of crypto, I was too busy and never found time to get involved. A couple of weeks went by, and I brought it up again, so I begrudgingly checked it out. And I was amazed. The tech and the possibilities that could come from it were astounding. So I jumped right in and started mining my Bitcoin. This was back when you could mine Bitcoin using a laptop CPU! So I mined Bitcoin for a while and got some, but eventually, I stopped and got busy with other things. However, I did save my private key because that Bitcoin would be worth something someday. That's where the fun ends because I have no idea where that private key might be, and I've looked everywhere. Of course, I still look randomly once or twice a year, but I think it's lost. I don't know how much I had exactly, but back in 2009, when you minded Bitcoin, you mined it 50 units at a time. I know I had at least 50 Bitcoin, but likely much more. That means I've lost millions worth of Bitcoin, if not more.

vie_lia

You install official Monero GUI, never run the GUI after installation. You open task manager, found dllhost.exe taking 30% of CPU resource. You suspect that the Monero GUI (which you never run after installation) create dllhost.exe and manipulate the company name if it to “Microsoft Corp” and secretly mining Monero? Even after you uninstall the Monero GUI, the process still there? Hahaha If that really the case, there are 3 possibility: 1. Monero developers are very competent in creating malware, or 2. You don’t have enough capability in term of keeping your own machine safe, or 3. Your OS is suck

Elean0rZ

I think there is a miner in there, not necessarily named "CoinMiner" specifically, so the detection isn't weird: [https://www.getmonero.org/resources/user-guides/solo\_mine\_GUI.html](https://www.getmonero.org/resources/user-guides/solo_mine_GUI.html) But I also [don't think](https://np.reddit.com/r/CryptoCurrency/comments/uisu7i/comment/i7ejmwe/?utm_source=share&utm_medium=web2x&context=3) his CPU usage has anything to do with Monero.

Elean0rZ

You're making a large leap in assuming that CPU usage = mining. As I noted below, it's more likely that they're unrelated: a memory leak on dllhost, and then virustotal "detecting" the miner, because miners are routinely flagged by virus software. The CPU usage is continuing after you uninstalled XMR because the actual problem--the dllhost leak--hasn't been fixed.

Elean0rZ

You're making a large leap in assuming that CPU usage = mining. As I noted below, it's more likely that they're unrelated: a memory leak on dllhost, and then virustotal "detecting" the miner, because miners are routinely flagged by virus software.

bittylicious_

Imagine mining on a CPU at all! That's now the equivalent of hasing using an abacus.

pink_raya

you can't mine btc with CPU nor GPU effectively.

Studio271

Well, no one has bothered to try to make an ASIC for it because it would be complex, expensive, and very risky to develop. You can mine on CPU and even by hand (if you are brave enough)!

comfyggs

“I feel like to the average joe, however, this isn’t as appealing as having the security of an insured bank backing them.” Take time to read the Bitcoin White Paper. https://bitcoin.org/bitcoin.pdf “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

demesisx

You literally need an enterprise grade server or better to run it. Hardware Recommendations# **CPU** * 12 cores / 24 threads, or more * 2.8GHz, or faster * AVX2 instruction support (to use official release binaries, self-compile otherwise) * Support for AVX512f and/or SHA-NI instructions is helpful The AMD Zen3 series is popular with the validator community **RAM** * 128GB, or more * Motherboard with 256GB capacity suggested **Disk** * PCIe Gen3 x4 NVME SSD, or better * Accounts: 500GB, or larger. High TBW (Total Bytes Written) * Ledger: 1TB or larger. High TBW suggested * OS: (Optional) 500GB, or larger. SATA OK * The OS may be installed on the ledger disk, though testing has shown better performance with the ledger on its own disk * Accounts and ledger can be stored on the same disk, however due to high IOPS, this is not recommended * The Samsung 970 and 980 Pro series SSDs are popular with the validator community **GPUs** * Not strictly necessary at this time * Motherboard and power supply speced to add one or more high-end GPUs in the future suggested

basilmintchutney

It shouldn't use Proof-of-stake because PoS is highly flawed. It relies on who has the most riches to become a validator on the network, doing so breaks decentralization & security. Contrasted with PoW anyone with a CPU can participate in securing the network. Compare how many PoS nodes there are, vs how many PoW nodes there are. PoW provides more security due to the amount of nodes there are.

aerismio

ETH is the most distributed coin there is right now. Even more so than bitcoin due to the fact of GPU mining. And with bitcoin GPU and CPU mining is long gone. It's all few large companies who have all ASIC's. while Ethereum any foold can mine ETH with a 3090 card. ETH is not POS.. at least it did not start up like a POS. It's POW still, just like bitcoin. POW is also a distribution mechanism. POS coins from the start have this VC shit, it's actually just a ponzi scheme where the makers of the coin get DIRTY DIRTY rich, with retail holding the bag. This is not the case with POW.

Paskee

What in the hell are you talking about ? What does GPU price have to do with NFT-s ? Tip: Nothing ​ >New gens of GPU and CPU are released later this year They are released every 2 years. Nothing news under the sun. Again it has no correlation with NFT-s. >They were excited about the following: unique skins for weapons for your account unique content/ DLC which only you own certifiable ownership of your games on the blockchain (suck it, steam!!) Which AAA game offers weapon skins ? None. Not one. There is a fantastic pushback for NFT-s in gaming sphere. ​ Unique DLC ? Where did you get that ? Unless specific DLC costs hundreds of thousands of dollars, you will not be getting unique DLC. The idea makes absolutely no sense. The idea behind DLC is to make small content increment and sell it to public bleeding them for maximum profit. ​ Certifiable ownership - of what ? Game? How many games do we have on blockchains ? Few shit tier games that you can grind and make a few hundred bucks. Great for developing countries, but for anyone with a job in developed world its a shit tier job. How many AAA publishers use blockchain ? Zero. I have no idea what you have been smoking mate, but what you described is a wish list. None of that exist nor is it close to being realized.

AutoModerator

Post is by: Regret92 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/uf9vdo/as_a_gamer_i_am_bullish_beyond_words_on_gamestops/ The mainstream medias suppression of Gamestops’ Loopring announcement is the most bullish thing I’ve ever seen in the crypto space. Let me run down why for you: - GPU prices are going back closer to MSRP - New gens of GPU and CPU are released later this year - mainstream medias supression of the announcement has suppressed LRC price, but that is bullish for us I personally know of a few friends who gave up gaming and sold their rigs when they changed jobs/ had children. I spoke to some of them the other day about Loopring X GME and they told me they were considering building a new rig so they could experience what the GameStop NFT marketplace had to offer! They were excited about the following: - unique skins for weapons for your account - unique content/ DLC which only you own - certifiable ownership of your games on the blockchain (suck it, steam!!) So really, this downturn coupled with MSMs suppression of GameStops announcement is probably going to work against them in the long run. As our messiah Byron wrote on discord “sometimes you have to pick the highest mountain to find the most precious flower” and wow - LRC is that flower, and we are almost at the top! Lööp up, brothers! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*

Regret92

The mainstream medias suppression of Gamestops’ Loopring announcement is the most bullish thing I’ve ever seen in the crypto space. Let me run down why for you: - GPU prices are going back closer to MSRP - New gens of GPU and CPU are released later this year - mainstream medias supression of the announcement has suppressed LRC price, but that is bullish for us I personally know of a few friends who gave up gaming and sold their rigs when they changed jobs/ had children. I spoke to some of them the other day about Loopring X GME and they told me they were considering building a new rig so they could experience what the GameStop NFT marketplace had to offer! They were excited about the following: - unique skins for weapons for your account - unique content/ DLC which only you own - certifiable ownership of your games on the blockchain (suck it, steam!!) So really, this downturn coupled with MSMs suppression of GameStops announcement is probably going to work against them in the long run. As our messiah Byron wrote on discord “sometimes you have to pick the highest mountain to find the most precious flower” and wow - LRC is that flower, and we are almost at the top! Lööp up, brothers!

Get_the_nak

I think he is only talking about 51% attack and he’s pretty much right. With infinite CPU-time you would be able to create the longest blockchain.

BTCMachineElf

>Bitcoin is rare because it comes from the scarcity of CPU time CPU time is not scarce and that isn't what makes bitcoin scarce. >"I guess the chances (of counterfeit bitcoin) would be astronomically low" No, it's zero. Nothing but authentic bitcoin will ever show up in a bitcoin wallet. >"The way you create a bitcoin is you have to find a larger rare number, bigger than any of the other Bitcoin out there and so every Bitcoin, the next Bitcoin is harder to create \[...\] So it'd be exceedingly difficult to create counterfeit bitcoin" He has no idea how mining works, and this is not what protects us against counterfeit bitcoin.

nullama

> Also you had to know how/where to download a bitcoin wallet on your computer Since day one you could download Bitcoin from bitcoin.org though, the official site. And that software included a wallet, a node, and even a CPU miner for the first year or so. Even though the mining aspect of it was removed soon after, the wallet aspect is still there. But I agree that back in the day it was much more difficult to buy Bitcoin than today.

CointestAdmin

#Monero Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Monero Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #Monero Pro Argument (Part 1/2) > > - Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/ovmttk/rcc_cointest_coin_inquiries_monero_proarguments/h7d1e6i/). > > - *Disclosure: I currently hold a position in XMR, ~2% of my current portfolio value* > > - **TLDR**: Privacy is a human right and Monero is the leading project aimed at protecting that right. Optional privacy is not sufficient for anonymity. If exchanges delist privacy coins, Monero will still be able to meet market demand through p2p channels and atomic swaps. > > ##Monero: Built different > > **Monero (XMR) is a cryptocurrency focused on private and censorship-resistant transactions** > > - Privacy is a [human right](https://en.wikipedia.org/wiki/Right_to_privacy), recognized by the [UN Declaration of Human Rights](https://www.un.org/en/about-us/universal-declaration-of-human-rights). Even if you have '[nothing to hide](https://en.wikipedia.org/wiki/Nothing_to_hide_argument)' you should still care about privacy, as [I argued for the Cointest Privacy - Pro argument](https://np.reddit.com/r/CryptoCurrency/comments/pfopc9/rcc_cointest_general_concepts_privacy/hf5o1sv/). > > - Monero has many of the attributes that people find valuable about Bitcoin. However, it also improves on some key aspects to align more with [the original vision of Bitcoin](https://np.reddit.com/r/Monero/comments/morrpp/satoshi_talking_about_privacy_features_that_got/) and the original [cypherpunk](https://en.wikipedia.org/wiki/Cypherpunk) vision of cryptocurrency in general: > > - Monero was created by an anonymous dev: like Satoshi, the pseudonymous creator of Bitcoin, Monero was created by an unknown entity, [Bitcointalk user thankful_for_today](https://bitcointalk.org/index.php?action=profile;u=233561;sa=showPosts). > > - Monero is a fork of Bytecoin, outlined in [Nicolas van Saberhagen's 2013 white paper ](https://bytecoin.org/old/whitepaper.pdf) which argued that "Privacy and anonymity are the most important aspects of electronic cash" and proposed areas to improve upon Bitcoin's design. > > - Like Bitcoin, Monero is an 'OG' PoW coin (2014 mainnet) with no premine or ICO > > - Monero does not have a hard capped supply like Bitcoin. > > - Monero *does* have a decreasing block reward schedule like BTC - but it doesn't trend towards zero over time. Instead, [the block subsidy will trend toward a fixed amount to incentivize participants to keep mining blocks](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). The current [annual inflation is 1.45% and decreasing until "tail" emission kicks in around 2022](https://moneroj.net/inflation/). > > - [Proponents regard this as an improvement over Bitcoin](https://np.reddit.com/r/Monero/comments/3z527f/does_monero_have_a_maximum_cap_like_bitcoin_21/). It's unknown if, in the future, transaction fees will supplant the mining incentive that secures BTC's blockchain once the block reward becomes extremely small > > - Unlike Bitcoin, Monero [does not have a fixed cap for block size](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). Instead, it has a dynamic block size, meaning that blocks can expand or shrink to accommodate demand. > > - *[Mining](https://moneroj.net/hashrate/)* > > - Unlike Bitcoin, Monero is designed to be ASIC-resistant with an intent to reduce the dominance of mining pools running specialized, high-performance mining hardware > > - Monero can be mined somewhat efficiently on consumer grade hardware such as x86, x86-64, ARM and GPUs > > - Moreover, Monero's updated PoW algorithm (from CryptoNight to RandomX) favors CPU mining and weakens GPU effectiveness > > - *[Fungibility](https://academy.binance.com/en/glossary/fungibility)* > > - Fungibility is a key property of currencies - at a high level it means that one dollar bill is equivalent to and interchangeable with another dollar bill. > > - Well 1 BTC = 1 BTC right? Yes, at the protocol level there isn't any distinction made between each BTC unit. > > - Fungibility is more ambiguous at the social and political levels. [Some bitcoins have a 'tainted' history due to being used for illegal purposes, confiscated, etc.](https://sethsimmons.me/posts/fungibility-graveyard/) Exchanges and other institutions can then blacklist coins using chain analysis. > > - If 'clean', freshly mined coins are seen as more valuable than older 'dirty' ones, then that undermines Bitcoin's fungibility. > > - Privacy > > - Monero's **private by default** protocol preserves the fungibility of the asset by obscuring transaction sources, amounts, and destinations. > > - Most blockchain networks today reveal information about your holdings and transactions: > > - "[Bitcoin is only semi-private; the protocol doesn’t know your real name but transactions can still be linked to you in a myriad of ways.](https://medium.com/human-rights-foundation-hrf/privacy-and-cryptocurrency-part-i-how-private-is-bitcoin-e3a4071f8fff)" > > - Blockchain analytics firms ([like Chainanalysis](https://www.cnbc.com/2021/03/26/chainalysis-doubles-valuation-to-2-billion-with-benioff-backing.html)) specialize in deanonymizing crypto activity and sell this data to corporations and law enforcement agencies. > > - In contrast, Ring signatures, stealth addresses and RingCT (Ring Confidential Transactions) make Monero unlinkable and untraceable. > > - If you [search for an address in the Monero block explorer](https://localmonero.co/blocks/search/41mT1gUnYHK6mDAxVsKeB7SP9hVesbESbWcupd7mMYC73GL4nSgsEwTGKHGT7GKoSEdMKvs8Fdu1ufPJbo5BV4d1PfYiEew), you'll see that you can't tie any holdings or transactions to it. > > - I would argue that privacy by default makes Monero more valuable vs. [optional privacy implementations](https://www.wired.com/story/harry-pottery-cryptocurrency-privacy-zcash-monero/) like [Litecoin's MimbleWimble upgrade](https://twitter.com/DavidBurkett38/status/1356469626511712258), Dash's PrivateSend or more direct competitors like Zcash (ZEC) > > - ZEC uses zk-SNARK proofs, which are not fully trustless: "[zk-SNARK proofs are dependent on an initial trusted setup between a prover and verifier, meaning that a set of public parameters is required to construct zero-knowledge proofs and, thus, private transactions.](https://academy.binance.com/en/articles/zk-snarks-and-zk-starks-explained)" > > - If users do not shield their ZEC transactions - and most do not - a third-party can uncover shielded transactions through process of elimination. > > - If you give people optional privacy they don't really use it - thus [Monero's month-over-month increase in transactions surpassed all shielded Zcash transactions *ever*](https://twitter.com/JEhrenhofer/status/1380566462344101899). > > - In September 2020, the US IRS criminal investigation division (IRS-CI), posted a [$625,000 bounty for contractors who could develop tools to help trace Monero](https://decrypt.co/41411/the-irs-is-offering-you-625000-to-crack-monero). However no team has provided convincing evidence of their success. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4ybr/coin_inquiries_round_monero_proarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds.

CointestAdmin

#Monero Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Monero Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #Monero Pro Argument (Part 1/2) > > - Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/ovmttk/rcc_cointest_coin_inquiries_monero_proarguments/h7d1e6i/). > > - *Disclosure: I currently hold a position in XMR, ~2% of my current portfolio value* > > - **TLDR**: Privacy is a human right and Monero is the leading project aimed at protecting that right. Optional privacy is not sufficient for anonymity. If exchanges delist privacy coins, Monero will still be able to meet market demand through p2p channels and atomic swaps. > > ##Monero: Built different > > **Monero (XMR) is a cryptocurrency focused on private and censorship-resistant transactions** > > - Privacy is a [human right](https://en.wikipedia.org/wiki/Right_to_privacy), recognized by the [UN Declaration of Human Rights](https://www.un.org/en/about-us/universal-declaration-of-human-rights). Even if you have '[nothing to hide](https://en.wikipedia.org/wiki/Nothing_to_hide_argument)' you should still care about privacy, as [I argued for the Cointest Privacy - Pro argument](https://np.reddit.com/r/CryptoCurrency/comments/pfopc9/rcc_cointest_general_concepts_privacy/hf5o1sv/). > > - Monero has many of the attributes that people find valuable about Bitcoin. However, it also improves on some key aspects to align more with [the original vision of Bitcoin](https://np.reddit.com/r/Monero/comments/morrpp/satoshi_talking_about_privacy_features_that_got/) and the original [cypherpunk](https://en.wikipedia.org/wiki/Cypherpunk) vision of cryptocurrency in general: > > - Monero was created by an anonymous dev: like Satoshi, the pseudonymous creator of Bitcoin, Monero was created by an unknown entity, [Bitcointalk user thankful_for_today](https://bitcointalk.org/index.php?action=profile;u=233561;sa=showPosts). > > - Monero is a fork of Bytecoin, outlined in [Nicolas van Saberhagen's 2013 white paper ](https://bytecoin.org/old/whitepaper.pdf) which argued that "Privacy and anonymity are the most important aspects of electronic cash" and proposed areas to improve upon Bitcoin's design. > > - Like Bitcoin, Monero is an 'OG' PoW coin (2014 mainnet) with no premine or ICO > > - Monero does not have a hard capped supply like Bitcoin. > > - Monero *does* have a decreasing block reward schedule like BTC - but it doesn't trend towards zero over time. Instead, [the block subsidy will trend toward a fixed amount to incentivize participants to keep mining blocks](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). The current [annual inflation is 1.45% and decreasing until "tail" emission kicks in around 2022](https://moneroj.net/inflation/). > > - [Proponents regard this as an improvement over Bitcoin](https://np.reddit.com/r/Monero/comments/3z527f/does_monero_have_a_maximum_cap_like_bitcoin_21/). It's unknown if, in the future, transaction fees will supplant the mining incentive that secures BTC's blockchain once the block reward becomes extremely small > > - Unlike Bitcoin, Monero [does not have a fixed cap for block size](https://academy.binance.com/en/articles/a-beginners-guide-to-monero). Instead, it has a dynamic block size, meaning that blocks can expand or shrink to accommodate demand. > > - *[Mining](https://moneroj.net/hashrate/)* > > - Unlike Bitcoin, Monero is designed to be ASIC-resistant with an intent to reduce the dominance of mining pools running specialized, high-performance mining hardware > > - Monero can be mined somewhat efficiently on consumer grade hardware such as x86, x86-64, ARM and GPUs > > - Moreover, Monero's updated PoW algorithm (from CryptoNight to RandomX) favors CPU mining and weakens GPU effectiveness > > - *[Fungibility](https://academy.binance.com/en/glossary/fungibility)* > > - Fungibility is a key property of currencies - at a high level it means that one dollar bill is equivalent to and interchangeable with another dollar bill. > > - Well 1 BTC = 1 BTC right? Yes, at the protocol level there isn't any distinction made between each BTC unit. > > - Fungibility is more ambiguous at the social and political levels. [Some bitcoins have a 'tainted' history due to being used for illegal purposes, confiscated, etc.](https://sethsimmons.me/posts/fungibility-graveyard/) Exchanges and other institutions can then blacklist coins using chain analysis. > > - If 'clean', freshly mined coins are seen as more valuable than older 'dirty' ones, then that undermines Bitcoin's fungibility. > > - Privacy > > - Monero's **private by default** protocol preserves the fungibility of the asset by obscuring transaction sources, amounts, and destinations. > > - Most blockchain networks today reveal information about your holdings and transactions: > > - "[Bitcoin is only semi-private; the protocol doesn’t know your real name but transactions can still be linked to you in a myriad of ways.](https://medium.com/human-rights-foundation-hrf/privacy-and-cryptocurrency-part-i-how-private-is-bitcoin-e3a4071f8fff)" > > - Blockchain analytics firms ([like Chainanalysis](https://www.cnbc.com/2021/03/26/chainalysis-doubles-valuation-to-2-billion-with-benioff-backing.html)) specialize in deanonymizing crypto activity and sell this data to corporations and law enforcement agencies. > > - In contrast, Ring signatures, stealth addresses and RingCT (Ring Confidential Transactions) make Monero unlinkable and untraceable. > > - If you [search for an address in the Monero block explorer](https://localmonero.co/blocks/search/41mT1gUnYHK6mDAxVsKeB7SP9hVesbESbWcupd7mMYC73GL4nSgsEwTGKHGT7GKoSEdMKvs8Fdu1ufPJbo5BV4d1PfYiEew), you'll see that you can't tie any holdings or transactions to it. > > - I would argue that privacy by default makes Monero more valuable vs. [optional privacy implementations](https://www.wired.com/story/harry-pottery-cryptocurrency-privacy-zcash-monero/) like [Litecoin's MimbleWimble upgrade](https://twitter.com/DavidBurkett38/status/1356469626511712258), Dash's PrivateSend or more direct competitors like Zcash (ZEC) > > - ZEC uses zk-SNARK proofs, which are not fully trustless: "[zk-SNARK proofs are dependent on an initial trusted setup between a prover and verifier, meaning that a set of public parameters is required to construct zero-knowledge proofs and, thus, private transactions.](https://academy.binance.com/en/articles/zk-snarks-and-zk-starks-explained)" > > - If users do not shield their ZEC transactions - and most do not - a third-party can uncover shielded transactions through process of elimination. > > - If you give people optional privacy they don't really use it - thus [Monero's month-over-month increase in transactions surpassed all shielded Zcash transactions *ever*](https://twitter.com/JEhrenhofer/status/1380566462344101899). > > - In September 2020, the US IRS criminal investigation division (IRS-CI), posted a [$625,000 bounty for contractors who could develop tools to help trace Monero](https://decrypt.co/41411/the-irs-is-offering-you-625000-to-crack-monero). However no team has provided convincing evidence of their success. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4ybr/coin_inquiries_round_monero_proarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds.

bitusher

> The longer the block chain gets, the more processing power is required for each transaction. This is technically incorrect. Perhaps you mean to suggest concerns with the UTXO set and not the size of the blockchain which is specifically why segwit was introduced to balance UTXO costs and reduce UTXO bloat. If your concern is with the UTXO set and its effect on CPU/Memory utilization of verification than please be more specific in the future and than follow that up with some evidence suggesting that the UTXO sets growth is outpacing general CPU/RAM improvements

KincadeHoney

It's pretty much accepted at this point ASIC mining is bad compared to other PoW methods like ones that allow you to mine with GPU or CPU for so many reasons the biggest is decentralization. There is no defending ASIC miners imo. The fact that you need to constantly be buying new hardware that only does SHA-256 enriching nobody but the manufacturers is disgusting. The fact the Bitcoin mining so centralized with mining pools is disgusting. Bitcoin is over secured as evident by the many other networks that could be 51% attacked but aren't. 51% attacks aren't common because they aren't very profitable. You are essentially providing security for something that isn't going to happen. Bitcoin was not being 51% attacked in July 2021 when the hashrate dipped down to 90m TH/s just like it isn't now at 217TH/s https://www.blockchain.com/charts/hash-rate

thatrunningthing

[hacash.org](https://hacash.org), start CPU mining the 1st ever PoW NFT, $HACD aka [www.hacash.diamonds](https://www.hacash.diamonds)

Sheeple9001

Not sure about others, but I earn BAN with Folding@Home (with CPU and GPU), accumulate over x-months, convert BAN to NANO, then send it into Kraken.

odonnellnoel

Of course they compete with each other but so do tech companies. Facebook competes with Twitter in the social network market, Google competes with AWS and Microsoft in the cloud market... they can only be competitive if they spend money on servers and burn energy, but squeeze as many bytes, or TPS, or what ever metric you choose, out of every resource they purchase, be it a unit of energy, or a CPU or a memory chip... likewise miners spend money on resources and want to get as much as possible out of them. They're both businesses and this is how businesses work so I don't see what your point is.

Absoniter

Don't feel bad. I CPU mined Bitcoin when it was still worthless. Never wrote my credentials down, never even thinking it'd actually be *worth* something.

na3than

If you want it to last, don't let it run hot. If you want it to run cool, keep the CPU load relatively low. If you want a low CPU load, don't run stuff like emulators on it while running Bitcoin.

NikoC99

Well, back then transistor size was like, 10 micrometer? Most of the CPUs in 1999s was hitting near 1ghz max, and they're all single core. Can't help the monitor is CRT, the CPU is power intensive, HDD needs energy to spin all 50g metallic disc of glorious 100gb data server for a HDD, with 56k modem with power adapter the size of your fist. 5 mbps is probably the most attainable speed for cheap in 1999, even then 1 mb size .png takes time. Now try mine BTC with current rate with all these ancient techs, I'll bet a nuclear power plant is best suited to mine BTC in the future.

ismirschlecht

Isn't a "simple" Mainboard and a medium CPU enough? GPU does all the work I thought

Shim182

Thread ripper is a server grade CPU made by AMD. Silly high core counts for heavily multi-threaded tasks. They run super high price tags though. Typically thread rippers are only found in desktop or server racks, as their intended use is in professional grade video editing, 3d model rendering and the such.

UnaCabeza

I have a 1080ti and everything I have it handles easily. I have current gen CPU though. I see no reason to even upgrade yet and will run this til it dies probably.