Switching from Bitcoin to Monero


#1

Bout that time again to go over a few things on security. First off what is Monero? Simply put, monero is a crypto currency that rose to fame as a more anonymous form of payments across the dark net markets. Previously it remained popular only amongst those as there were no good mobile wallets or desktop wallets. With Monero you didnt need to worry about tumbling coins.

Monero is the leading cryptocurrency with a focus on private and censorship-resistant transactions.
Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world. Furthermore, sending and receiving addresses for these transactions may potentially be linkable to a person’s real-world identity.
Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts.

Monero transactions are confidential and untraceable.
Every Monero transaction, by default, obfuscates sending and receiving addresses as well as transacted amounts. This always-on privacy means that every Monero user’s activity enhances the privacy of all other users, unlike selectively transparent cryptocurrencies (e.g. Z-Cash).
Monero is fungible. By virtue of obfuscation, Monero cannot become tainted through participation in previous transactions. This means Monero will always be accepted without the risk of censorship.
The Kovri Project, currently in development, will route and encrypt transactions via I2P Invisible Internet Project nodes. This will obfuscate a transactor’s IP address and provide further protection against network monitoring.

Now with the current governments looking harder at bitcoin and wanting to tax and trace wallets the best time to start switching over is now. There are more easier to use wallets that are secure and actually look better then most bitcoin wallets on Windows.

You can search the downloads from the site for the wallets here:

Now how would you get monero?

For now the easiest way is you can purchase bitcoin as you normally do and use shapeshift.io to send Monero to your wallet. When you need to cash back out you should transfer back into bitcoin (I send direct to my exchange wallet from Shapeshift over Tor).

Certain payment processors have already added monero as a payment solution. For VPNs, NordVPN already takes monero as payment. But if you use a mobile wallet like Monerujo (monerujo.io) you have the option to pay bitcoin addresses directly from your monero wallet without having to use a separate site like shapeshift.

Im hoping we can see more @Source start accepting Monero as payments to ensure better security for themselves and the members. In addition, its a better way to hold funds if you dont them traced for some time.

@UGMain @PHD @Bigmurph


#2

I’ve been watching monero on the exchanges and it actually does well holding its value and making gains. Its not making btc gains but for a coin that is worth around 200$ and only lost around 80$ in the last crash. Compared to eth going from 1000 to 300+ and was supposed to be the coin to take down btc lol
I will say good coin to hold its value and make small gains.
Its privacy is definitely there also im going to look into these wallets you mention because the wallets were definitely the downfall.
If more easier to use wallets are being developed my ltc holdings are becoming monero today.
Thanks for the heads up brother


#3

Definitly. The desktop is great and I’m using the mobile wallet now. I think it will pick up even more now the wallets are easy to use and can pay bitcoin straight from wallets if needed. Also the app allows you to have multiple wallets you can rename to what you want and they don’t share a common seed like most bitcoin wallets do. So the wallets really stay independent of each other.


#4

Thanks for keeping us up to date on the latest boss.


#5

Sounds like foreign tongue to me man! I havent used any of these crypto currencies yet. But looks like im gonna have to learn as this is the future of our game! Thanks bro for the lesson today I appreciate it :facepunch:t2: