The Monero Moon (Issue 33)
The Monero Moon is a curated weekly newsletter regarding all things Monero.
March 10th 2022
Development, Releases, and Technology
RINO wallet has been released! RINO is a new type of Monero wallet. They are a non-custodial, enterprise-grade, multisig wallet. Essentially, RINO are looking to offer all the convenience of an online wallet AND the safety of a non-custodial wallet. For now, it’s currently only available on Monero’s testnet network. Check it out here, or check out this post for additional information.
Additionally, binaryFate announced that the tools and public nodes previously available at melo.tools are migrating to the new website community.rino.io. The website offers various free tools including explorers and faucets, with most of them being open source.
The Monero Observer provided a Dev Activity Report activity report. The report “aims to provide a big picture view of Monero development activity, increase community support for existing devs and, hopefully, encourage new contributions”. Check it out here!
Monero’s hashrate appears to have strengthened in the sense that it has become more decentralised between pools since the recent fears regarding mineXMR gaining 50% of the hashrate.
For over a year now there has been wild speculation of cryptocurrency exchanges, in particular Binance, conducting fractional reserve banking in regards to Monero. Regardless of the legitimacy of these claims, cryptocurrency communities have long recommended users withdraw their coins from exchanges into a self-custody wallet. Head over to getmonero.org/downloads to find a suitable and trusted wallet.
Wondering what the emission schedule for Monero is? For approximately the next 20 years Monero’s inflation will be less that Bitcoin’s. Check out this infographic shared by Monero advocate Don Yakka.
Justin Ehrenhofer provided another graphic detailing Monero’s and Zcash’s shielded transaction count over the past six months. It will be interesting to see if the transaction count increases much after XMR’s recent run up in price.
The next MoneroKon 2022 Planning Meeting is scheduled to take place on Sunday, March 13th 2022 at 18:00 UTC in the #monero-events IRC channel. Additionally, check out the MoneroKon 2022 website for more information on the upcoming Monero conference to be held in Lisbon in June 2022. They are also accepting presentation and workshop proposals if you want to get involved.
Alex Bornyakov, the Deputy Minister of Digital Transformation of Ukraine announced via Twitter Ukraine are now accepting XMR donations. It appears legitimate as the Vice Prime Minister of Ukraine Mykhailo Fedorov, also retweeted the donation address.
Cryptocurrency exchange Coinbase revealed via their blog post Using Crypto Tech to Promote Sanctions Compliance that they block over 25,000 addresses related to Russian individuals or entities they believe to be engaging in illicit activity. Check out their blog here for more information regarding their stance on sanction compliance.
Following on from the news last week that Swiss banks are breaking a long-standing policy of neutrality by freezing the funds of major Russian figures, The Financial Times reported that the Swiss federal government plans to freeze crypto assets owned by Russian citizens and businesses held within Switzerland’s borders. Read more here.
The White House issued and signed the Executive Order on Ensuring Responsible Development of Digital Assets that will shape policies around cryptocurrency. Many were anticipating the government taking a harder stance on cryptocurrency, and the order extensively discusses the possibility of a central bank digital currency. You can read it here.
Nassim Nicholas Taleb came out this week to denounce Bitcoin once again, this time stating that “if governments declare that a certain BTC address is tainted (that is put on a sanction list), any additional transaction flowing from it become tainted as well, as in a polluted chain. BTC is not fungible.” Taleb then went on to suggest that, “Monero is not fit to be a store a value if the act of using it makes the transaction suspicious”. As the number of Monero transactions continues to grow, it is likely that the adoption of Monero will be considered freedom of choice, as a desire for privacy doesn’t mean have something to hide.
Ragnar Lifthrasir from Guns N’ Bitcoin recently made an appearance on the What Bitcoin Did podcast and talked about how his business accepts Monero. Lifthrasir described Monero as a litmus test of intelligence in Bitcoin, and explained that because Monero is such a good money, how could someone not want to use it. Lifthrasir went on the discuss how Guns N’ Bitcoin received more payments in Monero than Bitcoin and credit cards combined!
John Foss, author of the Monero Moon, recently shared a Twitter thread titled Bitcoin, Monero, Crypto, & Financial Privacy in 2022 — Where We Are Today. Check it out here.
Monero Talk recently hosted a crypto OG called Frank Dashwood. Dashwood discusses his early days in crypto, why privacy coins matter, and his opinion about Monero.
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!
Popular YouTuber Luke Smith recently put out a live stream called the Nightowl Monero Stream. While it isn’t entirely about Monero, it is great publicity for the project. You can watch it here (29:30 is a good place to start).
The Monero Standard #3 was recently released. It’s a new weekly Monero newsletter. Check it out here.
In case you missed it, Twitter now offers support for the Tor Project.
Alec Muffett @AlecMuffettThis is possibly the most important and long-awaited tweet that I've ever composed. On behalf of @Twitter, I am delighted to announce their new @TorProject onion service, at: https://t.co/Un8u0AEXeE https://t.co/AgEV4ZZt3k
Exchanges and Merchants
Monerica.com continues to grow. Monerica is a directory for a circular Monero economy that lists businesses and services that accept XMR as payment. It is a fantastic resource so check it out!
Want to spend some Monero? Head over to Guns N’ Bitcoin and purchase some cool merchandise with XMR!
Monero.win are still around (since mid-2018!) and are a fun place to wager some XMR. They also recently shared some findings as they use the Monero blockchain as a Random Base16 Character Generator. You can check out their website here.
In case you didn’t know, the Monero subreddit holds a weekly Monero market thread on Fridays. Head over to r/monero and search for ‘Friday Monero Market’ if you want to buy or sell something for 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.
CryptoGrampy proposed a bounty for an Android GUI Monero node. You can read more about it here.
Winston has put forward a CCS proposal seeking funding to create a FOSS Android app called Whatnero that will encompass all of the available information regarding Monero in a user-friendly manner so that newcomers or experts can easily access all of the information to learn about Monero. Check out the proposal here.
moneroguides came out to say there is a delay in the completion of their CCS proposal to create new educational Monero videos.
Monero Observer have put forward their Spring 2022 CCS proposal ready for community review. Check it out here.
Finally, we at The Monero Moon have also put forward another CCS proposal for funding the next 18 issues. If you enjoy reading the Monero Moon please show us some support and comment whether you support our proposal. Our previous CCS proposal from last year can be found here.
Trading & Speculation
The XMR/BTC pair is looking as if it has printed a double bottom on the weekly chart. A move back to 0.009BTC could be on the cards.
Sir Bud Fox is extremely bullish on XMR, predicting the price to reach $9000USD in the next couple of years.
The XMR/USD pair on Binance wicked up to $270USD on the 8th of March as over 75,000 XMR were purchased. The price of XMR moved up by over 50%!
Total Monero in Circulation — 18,090,517 XMR
Monero Total Marketcap — $3,150,933,548
XMR/USD Price — $175 USD
XMR/BTC Price — 0.00446 BTC
LocalMonero.co Street Price — $189 USD
Average Transaction Fee — 0.00017 XMR ($0.03)
Hashrate — 2.833 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.