The Monero Moon (Issue 31)
The Monero Moon is a curated weekly newsletter regarding all things Monero.
February 17th 2022
Development, Releases, and Technology
During the next network upgrade, Monero will receive added privacy with ring sizes increasing from 11 to 16!
View tags are also going to be added to Monero! More information about View Tags can be found here!
Monero users were on alert this week as the MineXMR mining pool acquired 50%+ of network hashrate, bringing fears of a double spend attack to the network. In response, an XMR developer even sold their XMR in order to rent hashrate and support the network via mining.
xnbya, an admin at MineXMR, stated that: “We understand that people are concerned with the large hashrate that minexmr currently has. We have announced an increase to the pool fees and continue to monitor the situation”.
dEBRUYNE, a long time Monero contributor, shared a post outlining that Monero is not under attack, and reiterated that the MineXMR team were implementing measures to decrease incentives and seek out a different pool.
The minexmr.com mining pool continues to harness a large majority of XMR hashrate. At the time of writing, minexmr.com currently has ~41% of known hashrate. Miners are urged to stop mining to minexmr.com in order to ensure and build a decentralised global network. A list of alternate mining pools can be found at miningpoolstats.stream/monero.
Wanting to get into mining Monero on a mobile phone? It is totally doable. Check out these images below!
Wondering how to start mining on a mobile device? Check out this video below from Davo.
aFungible shared a post in which they had tracked the development of the Monero project. Metrics chosen to measure the progress of Monero included team retention, knowledge retention, refactoring rate, and versions chart. The analysis spans three full years from 2019 to 2022, and highlights the need for the attraction and retention of new contributors going forward. Read the post here.
A Monero Space Meeting is scheduled to take place on the 19th February 2021 1700 UTC. Join them on IRC and help contribute to Monero!
There is a MoneroKon 2022 Planning Meeting scheduled for the 20th February 2022 1800 UTC. More information regarding the meeting can be found here.
There has been a lot in the news about the funds of the Canadian trucker protesters being frozen by authorities, or the names of donors being leaked. There have even been reports that the Royal Canadian Mounted Police are investigating particular cryptocurrency addresses!
Monero’s strong privacy does not allow transactions to be traced or censored, unlike other cryptocurrencies as seen in the video below from CryptoniteClub.
The Monerod Project, a not-for-profit aiming to promote and increase the adoption of Monero, recently celebrated their 1st birthday. They do many great things such as providing a mining pool, and if you’d like to join them helping Monero grow head over to their website monerod.org.
LocalMonero published an article by Seth For Privacy titled How Monero Uses Hard-Forks to Upgrade the Network. This is a must read as a hard fork in Monero is simply a network upgrade to bring improvements. Monero’s hard forks are planned well in advanced by developers. They are not a nefarious activity in which one party forces a chain split and births a new cryptocurrency.
The Monero Talk team recently interviewed Marc Falzon, a crypto journalist who recently published a very well made docu-style report on the ‘dark side of Bitcoin in El Salvador’. Watch the video below.
The Monerotopia event is taking place in Miami on April 7th, and they have an amazing lineup of speakers and even Crytp0 Bear is putting on a concert. Head over to their website and grab a ticket to one of the hottest Monero conferences around!
Exchanges and Merchants
A team have announced they plan on creating a fork of the Haveno DEX and are calling it Penumbra DEX. It will be interesting to follow their progress. More information regarding their plans can be found here.
Monero is the second most used coins for payment on ShopinBit.com. Monero has 7% of all transactions, while Bitcoin has 80%.
Want to win some XMR? Check out Moneropot.org. Also, if you had any entries from January hit them up for a refund on their website!
easyMarkets have allowed Monero trading, but you can’t deposit or withdraw XMR.
Several crowdfunding proposals are awaiting community feedback before they can start accepting funds through the Community Crowdfunding System (CCS). For now they are just proposals, but if they receive some positive feedback from the community they will be moved to a “Funding Required” stage so that they can accept Monero donations through the CCS.
Justin Berman has submitted a proposal to work on Monero and help ensure the upcoming hard fork goes smoothly, and then move onto other aspects of the Monero project. Check out his proposal here.
mjxmr has submited a replacement CCS proposal for Q2 2022. This essentially replaces his previous proposal. Check it out here.
The android wallet team at Monerujo are developing Sidekick. Sidekick is an android app that you will be able install on an old, unused phone, which then gets permanently taken offline to secure a cold seed and sign transactions offline. More information can be found here. If you want to support the development of Monerujo, an android wallet for Monero, they have a funding page on their website seeking financial contribution.
Trading & Speculation
Total Monero in Circulation — 18,080,082 XMR
Monero Total Marketcap — $3,215,541,982
XMR/USD Price — $178 USD
XMR/BTC Price — 0.00409 BTC
LocalMonero.co Street Price — $199 USD
Average Transaction Fee — 0.00013 XMR ($0.023)
Hashrate — 2.85 Ghash/s
Monero Mining Pools Hashrate Distribution —
If you like the newsletter and want more of this content, then shout me a round of beers by donating some spare Monero you didn’t lose during your boating accident.
Want to help contribute to the Monero Project? Developers, marketers, event coordinators, translators, Instagram personalities, meme creators, public speakers — whatever your skills may be, it is extremely likely there is something you can do to assist. I urge you to reach out to the Monero community on Reddit, IRC, GitHub, Twitter, or Telegram. The official Monero website is GetMonero.org.
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DISCLAIMER: This publication contains opinion for informational purposes only and does not constitute investment advice. Information may contain errors and omissions. Use solely at your own risk. The author of this publication and/or the authors of articles linked to from this site may have financial investments that may bias their opinions, including ownership of Monero currency. Always do your own research, form your own opinions, and never take risks with money or trust third parties with out verifying their credibility.