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The Monero Moon (Issue 30)
The Monero Moon is a curated weekly newsletter regarding all things Monero.
The Monero Moon is a curated weekly newsletter regarding all things Monero.
February 10th 2022
Development, Releases, and Technology
At the end of January there was a Monero Dev meeting held to coordinate plans for the next network upgrade ‘Fluorine Fermi’. The goal of the meeting was to assess readiness for the upgrade and to discuss the status of associated pull requests. carrington1859 provided a succinct summary of the meeting. In the next network upgrade ring sizes will be increased from 11 to 16, Bulletproof+ is being incorporated, and View Tags are ready pending some final tweaks are reviews. Check out carrington1859’s summary here. Full logs of the dev meeting can be found here.
Morpheus, creator of moneroj.net, highlighted that Monero’s annualized inflation just crossed below the 1% line, standing at 0.99%, while the real inflation is in fact lower, since the decreasing rate means it represents 0.90% for the next 365 days.
UnstoppableSwap are proud to announce that the first alpha version of their GUI is out. It allows anyone to perform an atomic swap, withdraw funds from the internal wallet, compare swap providers, and view their past swap history — all without having to use the terminal. For now, though, it’s limited to testnet until enough people have tried it and they deem it safe enough to use on mainnet. Check out this post for more information.
As pointed out by Febos, over 20 million transactions have taken place on the Monero network! Here’s to 20 million more!
Additionally, Febos shared an image showing the yearly growth of Monero transactions.
The minexmr.com mining pool continues to harness a large majority of XMR hashrate. At the time of writing, minexmr.com currently has ~44% 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.
The brilliant mathematicians at Sieve are securing the Monero network by having 16 phones running XMRig for Android. Check out the Sieve website here. Unlike Bitcoin, Monero is ASIC-resistant and can be mined on almost any old hardware you have laying around.
SomeAncap2020 announced that they’re mining almost 24/7 on p2pool, and recommends others should give it a try. They claim they can still use the computer with no noticeable slowdown (mining on 4/6 cores). The Monero Moon also urges others to help secure the Monero network if you have the resources available.
Justin Berman submitted the final update to his first CCS working full-time on Monero with a highlight being his work updating openmonero’s decoy selection algorithm to use the correct distribution. Check it out here!
Seth Simmons wrote an article for LocalMonero.co titled View Tags: How One Byte Will Reduce Monero Wallet Sync Times by 40%+. In short, view tags allow wallets to save time when syncing by only performing the most consuming verification on those transactions that have a view tag that their wallet knows about. Read the article here, or check out this easy to digest Twitter thread below to learn more.
There has been recent discussion regarding the Pros and cons of Monero’s potential Seraphis Protocol Upgrade. Check out this post here on monero.stackexchange for more information.
Cake Wallet have provided an update to their wallets Monero.com v1.0.4 and Cake Wallet v4.3.8. Be sure to update and check out this post for more information!
Comit-Network are sadly looking for a maintainer for their XMR/BTC atomic swap project, as they don’t have the capacity for maintaining the project. As stated on their website, “If you love the XMR-BTC swap tool, have some Rust knowledge and are willing to step up please reach out for becoming a maintainer. It’d be great if community members could step in to keep this project alive. Unfortunately, we currently don’t have the capacity.”
There is a Community Workgroup Meeting scheduled for 13 February 2022 at 1600 UTC. Get on IRC and check it out! More information can be found here.
Additionally, there is a MoneroKon 2022 Planning Meeting happening on Sunday 13th February 2022 at18:00 UTC. Check out this post for more information.
The Monero Talk team published a new video called The Robin Hood Of Wall Street finds Monero: with Gregory Mannarino. Watch it here or below.
The US Department of Justice announced that federal officials seized some $3.6 billion worth of Bitcoin tied to the 2016 hack of the crypto exchange Bitfinex. Monero was mentioned in the DOJ’s report as tool that was used to help launder funds. Xenu provided a great ELI5 Twitter thread explaining this in more detail.
Long time and respected Bitcoin maximalist John Carvalho took to Twitter admitting that ‘Bitcoin is infungible’.
Mental Outlaw shared a video that mentions Monero. It is titled US Government Wants to Ban Crypto Used for “Money Laundering” and can be watched below.
Exchanges and Merchants
Exodus Wallet announced that they will be supporting Monero on Trezor hardware wallets by the end of June 2022. Check out their post below.
Monero is being increasingly used with the CoinCards.com service. In January 2022 almost 20% of sales were made with XMR, up from 12% in December 2021.
The organisers of the MoneroKon 2022 conference are still seeking funding and are approximately 87% funded. This is a great initiative so lend them some support over on the CCS page here. Additional information can be found here and here.
Haveno’s CCS proposal for the development of their user interface was recently closed after extensive community discussion. Check out the discussion here.
Lovera shared an update for all his work producing Spanish speaking Monero content. Check out his update here.
Trading & Speculation
rlm42 is predicting XMR/USD to form a Cup and Handle chart pattern, leading to a 400% rise in price.
Total Monero in Circulation — 18,076,503 XMR
Monero Total Marketcap — $3,301,866,267
XMR/USD Price — $182 USD
XMR/BTC Price — 0.00416 BTC
LocalMonero.co Street Price — $215 USD
Average Transaction Fee — 0.00014 XMR ($0.025)
Hashrate — 3.137 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.