The Monero Moon (Issue 46)
The Monero Moon is a curated weekly newsletter covering all the latest news within Monero (XMR).
Development, Releases, and Technology
Monero’s Tail Emission kicked into play today (June 9th 2022) at approximately 00:31UTC, Block 2,641,623. Monero’s block reward will be fixed 0.6XMR per block. The 0.6 XMR block reward is linear, meaning Monero’s inflation rate approaches 0% in perpetuity. This makes Monero disinflationary, unlike printed fiat or centralised crypto where the supply is known. sech1 pointed out that XMR mined so far is not an exact multiple of 0.6 XMR. This is because full blocks get a reward penalty and mine less than 0.6 XMR. This means that the tail emission is technically less than 0.6 XMR per block on average.
The official Monero Twitter handle put out a tweet thread outlining why Monero has a tail emission, how it works, and what it means for users. Check it out below.
P2Pool.io have updated their website to reflect the tail-emission in real time. so it The update shows how many XMR have been mined, and Monero’s annual inflation rate. Check it out here.
Below is a video of Dr. Kim explaining Monero’s tail emission and supply schedule in comparison to Bitcoin, and why it’s good. Thanks to Untraceable for bringing this to everyone’s attention again. Watch it below.
Justin Ehrenhofer provided an overview of cryptocurrency privacy-focused transactions that took place in May 2022. Monero made up over 98.8% of privacy transactions! Check out the tweet below.
selsta provided a developer update regarding their work for the month of May 2022. selsta has worked heavily on the official Monero wallets. More detailed information can be found here on Github.
unyieldinggrace aka fatalglory has published the code for his Monero TX Scanner. According to unyieldinggrace, “this package can be used to scan a Monero transaction and see if it belongs to a specific view-key and public address. It works completely client side, so there is no need to share your view-key or address with a scanning server or any third parties. The main goal is to make it much easier for people to create point-of-sale software that works in a browser or a mobile app”. Check it out here.
vdo has released xmr.sh v0.3.1. The xmr.sh script wizard sets up a new server running a monero node daemon with Docker compose, with your choice of SSL certificates for your domain, network selection, a Tor hidden service, Grafana dashboard and more.
AnonimaUzanto has begun analysing the unlock_time field in transactions, and claims there is a very interesting trend beginning in 2022 for invalid unlock times. Check out this post here for links to more information.
spackleXMR published a read-through of the 2.3 Elliptic curve cryptography section of Zero to Monero on YouTube. Watch it below or here, it may help you get your head around what’s under Monero’s bonnet.
Monero Talk sat down for a chat with Elizabeth Binks who is developing an Ethereum-Monero Atomic Swap implementation that has launched on Monero’s testnet. Watch the interview here or below.
paulred70 shared a video of them mining Monero with XMRig on Windows 11 with Intel 12900k with no optimisation. Check out the video below. paulred70 claims to be making 0.001024 XMR per day.
Monero miner monerobull, found their very own block after 1 year of mining. The block was mined on P2Pool.
xmrvsbeast made a request for all Monero public node operators to please consider enabling ZMQ on their node to allow the use of P2Pool mining. Check out this post here, and read the comments first to make sure it’s right for your circumstances.
If you’re a user or an aspiring user of the Monero CLI wallet, check out this cool ‘cheat sheet’ from 3RA at monero.observer. The commands in the cheat sheet will help you get the most out of your Monero CLI wallet.
Reuters published a special report titled How crypto giant Binance became a hub for hackers, fraudsters and drug traffickers. The report claims Binance has processed transactions totalling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales. In one particular section of the report, Reuters claims that hackers used Binance to convert stolen funds into Monero in an effort to launder it, and that people use Monero on the darknet markets to buy illicit substances. You can read the Reuters article here.
Binance responded to the report by published a blog post titled The Crypto Money Laundering Myth and the Machine Working Overtime to Sell a False Narrative. Binance claims “interested parties continue to spread disinformation or purposely mislead the general public by leaving out critical context, such as how much more effective crypto is than the traditional banking system at casting sunlight on illicit activity.” Read Binance’s response here, and check out a short excerpt from their blog below outlining that in 2021 only 0.15% of crypto transactions were associated with illicit activity.
A detailed response to the Reuters article from a cryptocurrency user can also be found on the r/cryptocurrency subreddit. Read it here.
Separate to all of this but somewhat related, Wired published an article about darknet markets and how only Monero is accepted. Read the article here.
The Monero Moon (and I’m assuming the broader Monero community) do not condone the use of Monero for illicit activities. Please take note that the enhanced privacy Monero provides can be useful for a variety of legal reasons, such as to prevent corporate snooping, escaping abusive relationships, or secretly buying a gift for a spouse. Privacy is not a crime.
A whitepaper was recently published titled How to Peel a Million: Validating and Expanding Bitcoin Clusters, and Justin Ehrenhofer made comment on the whitepaper in relation to Monero. The whitepaper touches on how having different transaction types on the Bitcoin network can negatively impact user privacy, something that Monero does not experience due to mandatory network upgrades. Check out the whitepaper and Justin’s analysis here.
Monero Talk published a recording from their Monerotopia 2022 conference. The video is of a Regulation and Policy discussion panel with Liat Shetret (Director of Regulatory Affairs and Compliance Policy at Solidus Labs), Carol R. Van Cleef (Cryptocurrency and Blockchain Counsel at Bradley), and panel host Justin Ehrenhofer (VP Operations at Cake Wallet). Watch it here or below.
The Monero Moon newsletter has seen consistent uptrending growth in subscribers since switching over from Medium to Substack. Check out the tweet below for more information.
Seth for Privacy featured on a podcast to talk Bitcoin and Monero.
South Korean cryptocurrency exchanges are reported to be delisting Litecoin due to its implementation of their MimbleWimble Extension Blocks (MWEB) network upgrade.
Bitcoin maxi podcaster Peter McCormack with almost 500k Twitter followers tweeted that he doesn’t think Monero is a scam.
A Monero Research lab will take place on June 15th. It is planned to include discussion regarding such as decoy algorithms and analysis of transaction volume anomalies. You can find links to and more information regarding the meeting here thanks to the Monero Observer. The MRL meeting will take place at 1700 UTC in the #monero-research-lab channel on IRC if you want to lurk in real time.
A Monero Tail Emission Day Global (Meet Up) celebration took place only a few hours ago in places such as NYC, Denver, Las Vegas, Chicago, Florida, Georgia, and more. Monero enthusiasts celebrated the end of Monero’s nominal supply and the beginning of tail emission with their local XMR community. Monerotopia live streamed an episode and broadcasted with fellow Monero meetups all around the globe in celebration of Monero’s tail emission coming into play!
There is a Monero Meetup taking place in Cape Town, South Africa at 5pm on Thursday the 23rd of June at La Parada. With the latest Monero hard fork on its way in July, the meetup will bring some of South Africa’s greatest technical developers and Monero junkies together. More information can be found here.
The Monerokon Conference is being helding on the 18-19th of June at Arroz Studios in Lisbon, Portugal. MoneroKon is going to be a celebration of all things Monero, privacy, and financial technology, and is aiming to be ‘the’ annual meeting of privacy advocates, cypherpunks, scientists, and philosophers. Please note the Monerokon Conference in 2022 is now SOLD OUT, but more tickets may become available if you’re lucky.
Monerokon are also looking for volunteers to help out with a number of different roles at the conference, so if you can lend a hand reach out to them here.
The next Monerokon 2022 Planning Meeting is scheduled to take place on Saturday, June 11th 2022 at 18:00 UTC in the #monero-events IRC channel.
Exchanges and Merchants
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.
Trading & Speculation
Meanwhile, Dangermousebanana is bullish on Monero and proposes a possible fractal pattern for price to follow.
Total Monero in Circulation — 18,132,264 XMR
Monero Total Marketcap — $3,392,327,274
Coinmarketcap Ranking — #26 (last week #25)
XMR/USD Price — ~$187 USD
XMR/BTC Price — 0.00620 BTC
LocalMonero.co Street Price — $198 USD
Average Transaction Fee — 0.00012 XMR ($0.022)
Hashrate —2.803 Ghash/s
Monero Mining Pools Hashrate Distribution —
Still wondering what Monero's Tail Emission is? These handy pics explain Monero's tail emission so easily even your BTC maxi grandma can understand it.
Monero's tail emission forever secures the network by ensuring miners are always rewarded 0.6 XMR per block for their efforts.
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. wwwThe 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.