What is Monero ?
Monero is called "the king of privacy or sleeping giant of cryptocurrency".
Monero official site https://getmonero.org/
Open source project on Github https://github.com/monero-project/monero
Market capital https://coinmarketcap.com/currencies/monero/
Monero has a very low supply, it is around 15 millions
Transaction volume also quite small
Why Monero ?
Why use cryptocurrencies at all?
Cryptocurrencies allow fast, inexpensive payments to and from anywhere in the world. There are no wire transfer or check clearing fees, no multi-day holding periods, and no risk of fraudulent chargebacks. Due to lack of centralized control, cryptocurrencies cannot be shut down by any one country. Cryptocurrencies are safe from ‘capital controls’, which are measures that restrict the flow of currencies, sometimes to an extreme degree during financial panics.
This Economist magazine article describes how people in Greece were restricted to accessing only 60 Euros per day during their crisis – holders of cryptocurrencies were saved from this fate.
With very short notice, India recently declared that 86% of all the cash in circulation would soon no longer be considered legal tender. The European Central Bank has announced it will be phasing out the 500 Euro bank note, and Australia has proposed a ban on the $100 bill.
At the time of writing, Denmark, Japan, Sweden and Switzerland have implemented negative interest rates, which means that if you hold their currencies in a bank account instead of as cash, the bank can charge you interest instead of paying you interest!
How can Monero compete with Bitcoin ?
Roger Ver, known as “Bitcoin Jesus” for his evangelical support of the currency during its early years… said his investment in Monero is “substantial” and his biggest in any virtual currency since bitcoin.
Source: Bloomberg
The most important thing : privacy
The most critical flaw in Bitcoin is its lack of privacy. If you give me your Bitcoin wallet address so that I can send you a payment, you immediately compromise your privacy. I can see as a matter of public record how much money you have in your Bitcoin wallet (there are messy workarounds to attempt to fix this problem, which we will address shortly). The same situation applies even if you are the one sending Bitcoin. Any recipient can then see how much money you have in your Bitcoin wallet, both now and in perpetuity. To understand how critical this privacy problem is, consider the following scenarios:
Monero’s superior mining algorithm
Because no special mining equipment is required, it means that it would be easy for anyone that downloads a Monero wallet to simply click a single button to start mining on their computer.
Monero’s ‘Adaptive block size limit’
Monero, however, has been designed to have an automatically adaptive block size limit. This means it will automatically be able to handle future increases in transaction volume by automatically expanding the size of blocks to accomodate higher future transaction volumes.
An impressive integration of the ‘invisible internet project’ I2P layer into Monero is in development
This will add even greater privacy protections when transacting in Monero. I2P will protect you from passive network monitoring, so that not only are your payments untraceable, but people snooping the network cannot tell you are even using Monero at all.
The quality of the development and research team behind Monero and their design goals are seriously impressive
There are over 180 contributors to the Monero project.
You could see all contributors from Github here https://github.com/monero-project/monero/graphs/contributors.
Why Invest in Monero ?
- First, it solve a huge problem : the finance privacy
- Second, it is better than bitcoin in every thing