[XMR] Monero - A secure, private, untraceable cryptocurrency

[abonarea]

I have diversified my portfolio just few days before this latest rise took place. I think it is still time to re-arrange the plans for future and investor to add some coins/token like Monero and exclude some of already in possession. That article about Monero own version of localbitcoin's exchange is getting popular was great read these day.

[1713874762]

1713874762

[1713874762]

1713874762

[je@ngrey83]

Hi, I have a very important and general question.

If I have lets say $1M dollars( a very large sum ) . How to buy and cash out Monero without being spotted from government institutions?

pay  your taxes and enjoy profits in the open. Dont sell all. This is just the start imho

Thank you for the suggestion but that doesn't answer the question

because the sum is huge then this is what I would do if I were you:
1 - go through KYC in multiple fiat supporting exchanges and open your own account there - in case you have not got yet (eg: Kraken, Bithumb, Bitstamp, etc...)
2 - go through KYC and open account on crypto only accounts - in case you have not got yet (eg: Bittrex, Poloniex, etc...)
3 - send your fiat to multiple exchanges as point one. For the ones with direct fiat/XMR pairing exchange directly in XMR. For the ones not supporting XMR directly, exchange to BTC first.
4 - move the BTC to the crypto only exchanges, exchange your BTC to XMR there.
5 - optional but recommended: transfer your XMR from the exchange to your own wallet so that you control the keys.

Agree with previous post: pay taxes as per regulations of the country where you're resident nevertheless.
And enjoy your Monero.

[vitocorp]

A team of monero enthusiasts based in Hong Kong have launched an alternative version of LocalBitcoins.com.

Called LocalMonero.co, the website will connect buyers and sellers of the cryptocurrency based on country of residence. Users can meet and exchange monero for cash, or buy it online from a local seller.

Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures."

Like the currency itself, LocalMonero.co is also committed to privacy, according to its founders. Launching the website in a Reddit post, user "optocomp" stated:

https://www.coindesk.com/monero-getting-version-localbitcoins/

[Chicken76]

Created in 2013, monero is a privacy-centric cryptocurrency ...

2013, really?

[Ratatosk]

https://binance.zendesk.com/hc/en-us/articles/115001308592

[javieralexvr]

https://steemit.com/xmr/@javieralexvr/my-monero-xmr-thoughts-why-should-everyone-use-it

This is my first steemit post, What do you guys think?

[aikklond]

The expected upward trend continues for a long time. It was a very nice investment. $ 140 is a very good value. I think that you will continue to rise during the past few days.

[visdude]

Is this now becoming a spec thread too? I thought there is a separate thread just for such a purpose.

[tiCeR]

Is it actually true that XMR is more likely to be cracked than ZCASH in terms of anonymity? Could that problem ever be fixed if it's true?

BTC will be cracked before either so don't worry on that score. And if it comes close to any CC then it's just a fork away to a tougher Algo. So don't listen to the FUD. BTC will fall first as it's the easiest to crack.

Hi,

Sorry i don't know where i can post this:

When i open mymonero.com it says:

"Your account is catching up, your details may be out-of-date until it is finished (47 blocks behind)
This is not an error, and you do not have to do anything except wait until it is complete."

What's going on?
Do i have to do anything?
Usually is faster ...

Well you could just do what it says.

I thought I read some time ago that the ring signature technology is mathematically not as secure in terms of anonymity as- for instance, ZCASH or so. So is that true? I have no clue about that stuff.

[c789]

I thought I read some time ago that the ring signature technology is mathematically not as secure in terms of anonymity as- for instance, ZCASH or so. So is that true? I have no clue about that stuff.

Even if that's true, their Trusted Setup negates it, not to mention how their devs feel about privacy.

[sheld0n]

Monero is getting its own version of localBitcoins. A team of monero enthusiasts based in Hong Kong have launched an alternative version of LocalBitcoins.com.
Called LocalMonero.co, the website will connect buyers and sellers of the cryptocurrency based on country of residence. Users can meet and exchange monero for cash, or buy it online from a local seller. Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures."
https://localmonero.co

[rickgejr]

Just in case you are not versed in Indian "Bytecoin" Temple theory and how BCN is taking over... (Yeah, right.)

https://thecryptopapers.com/2017/08/31/bytecoin-and-the-crypto-coin-daddy/

[Hueristic]

Hi, I have a very important and general question.

If I have lets say $1M dollars( a very large sum ) . How to buy and cash out Monero without being spotted from government institutions?

That of course depends on what government you are talking about. And I would expect that anyone that has figured out how to do this on a large scale (it would have to be in BTC I would think) would not be willing to share that information without a price so your best bet would be to consult a good CPA.

[visdude]

Monero is getting its own version of localBitcoins. A team of monero enthusiasts based in Hong Kong have launched an alternative version of LocalBitcoins.com.
Called LocalMonero.co, the website will connect buyers and sellers of the cryptocurrency based on country of residence. Users can meet and exchange monero for cash, or buy it online from a local seller. Created in 2013, monero is a privacy-centric cryptocurrency that obscures user transactional data by use a cryptographic procedure called "ring signatures."
https://localmonero.co

LocalBitcoins.com used to be great when they first started. Back then, you were able to contact any buyer/seller directly (as it should be) and arrange a meetup to trade in person. When they got big, they got greedy. You now have to make a deposit on their site before being able to contact a buyer/seller. I guess they want their cut of the transaction.

I hope LocalMonero does not follow the same business model that LocalBitcoins has currently. If the idea is to find a buyer/seller in one's area, then he/she should be able to do so directly without any strings attached.

[visdude]

...and assuming one can contact a local buyer/seller to trade with in person through LocalMonero without any strings attached, how does one go about sending/receiving a Monero transaction in such a situation without lugging around a cumbersome laptop which requires a WiFi connection?

[birr]

...and assuming one can contact a local buyer/seller to trade with in person through LocalMonero without any strings attached, how does one go about sending/receiving a Monero transaction in such a situation without lugging around a cumbersome laptop which requires a WiFi connection?

I have an android phone with GnuRoot Debian installed.  On it I run the monero wallet linux command line client.  I use a VPS I rent in Europe as the remote node, but users can take advantage of one of the nodes listed at moneroworld.com
GnuRoot does not require root.
In truth, I only keep that phone wallet as a backup.  I use my laptop when I actually want to send and receive XMR.  Typing in commands on a smartphone's tiny touch screen is too much of a PITA.  But you can run the command line wallet on an anrdoid phone, and it works.  
I'm not going to tell you that you can run a full node on a smartphone;  synching the blockchain on a smartphone is a tall order.  But you can have a working monero wallet.

[visdude]

...and assuming one can contact a local buyer/seller to trade with in person through LocalMonero without any strings attached, how does one go about sending/receiving a Monero transaction in such a situation without lugging around a cumbersome laptop which requires a WiFi connection?

I have an android phone with GnuRoot Debian installed.  On it I run the monero wallet linux command line client.  I use a VPS I rent in Europe as the remote node, but users can take advantage of one of the nodes listed at moneroworld.com
GnuRoot does not require root.
In truth, I only keep that phone wallet as a backup.  I use my laptop when I actually want to send and receive XMR.  Typing in commands on a smartphone's tiny touch screen is too much of a PITA.  But you can run the command line wallet on an anrdoid phone, and it works.  
I'm not going to tell you that you can run a full node on a smartphone;  synching the blockchain on a smartphone is a tall order.  But you can have a working monero wallet.

Though I have a CLI phobia or some sort of aversion to it like so many other average Joes, I did try it on two different phones out of curiosity but could not get it to work. As you implied, it's not a viable nor a practical method of transacting on the go anyway. I guess the point is that Monero has been around a long time yet there is still no working mobile wallet app available to date. In fact, they just recently rolled out the GUI wallet.

[birr]

You mean you installed the GnuRoot Debian app and tried to set up Monero?  Did you use the ARM version?  Phone processors have a different architecture from computer cpu's.  There's a special version of Monero for the kind of cpu that android phones have.  Actually I think the Monero for ARM processors was built with Raspberry Pi users in mind, but the processors in android smart phones belong to the same family.
There's a learning curve to this kind of thing.  If you have negligible experience with the linux command line, navigating file systems and such, I would not expect you to be able to install Monero on your phone and get it working without a considerable effort.
Yeah, a nice android wallet would be a great thing to have.
Not that freewallet thing, which is probably a scam and ought to be taken off the Google Play Store.

[dEBRUYNE]

Surae Noether's End of August Update!

https://www.reddit.com/r/Monero/comments/6xajr6/suraes_end_of_august_update/

[Voice-Of-Reason]

LocalBitcoins.com used to be great when they first started. Back then, you were able to contact any buyer/seller directly (as it should be) and arrange a meetup to trade in person. When they got big, they got greedy. You now have to make a deposit on their site before being able to contact a buyer/seller. I guess they want their cut of the transaction.

I hope LocalMonero does not follow the same business model that LocalBitcoins has currently. If the idea is to find a buyer/seller in one's area, then he/she should be able to do so directly without any strings attached.

This! I stopped using localbitcoins a long time because of this...