1 Level
3 Review
0 Karma
Review on Monero by John Nau
I dig the project. I personally favor it over BTC, and the community isβ¦
I dig the project. I personally favor it over BTC, and the community is consistently putting effort into their various Outreach projects.
Developers make strong argument for choice of inflation long-term, but it's still an experiment in testing, please remember.
ο»Ώ
Pros
- Easy to setup a miner and get two rx vegas going with some great monero mining guides. Monerujo and Cake wallets are solid for both android and ios. Reduced fees after bulletproof upgrade is amazing. Privacy makes for amazing financial tools if math proves right. Small time guys like me can participate in mining with an affordable gaming rig, maybe not profitable anymore for single card setups though. Anti ASICs.
Cons
- Monero has a poor "aura" associated with crime and legal uncertainty for the general public to accept. Talking to a person who hears from the mainstream news channels that Bitcoin is for illegal activities on the dark web, and then explaining why they should use Monero... well, it seems to make them less interested. Also the price vs BTC is hard to follow. XMR is great for cash substitute (untraceable, fungible, low/negligible transaction fee), and if the price were more stable compared to BTC, then I would say XMR is great to HODL, but hard to say at this point. During MoneroV fork, argument of "centralizing" as developers controlled the project against ASICs, however project has forked again to V8 with majority of community support. Seems like most video cards would profit more from mining ETH with the exception of the RX Vegas.
