The Monero Moon (Issue 71)
The Monero Moon is a curated newsletter covering all the latest news within Monero (XMR). We are driven by a compelling need to champion both freedom and financial privacy!
Table of Contents:
Development, Releases, and Technology
General News
Events
Exchanges and Merchants
Community Crowdfunding
Trading and Speculation
Network Metrics
Entertainment
Development, Releases, and Technology
woodser has released Haveno version 1.0.9, featuring numerous improvements and bug fixes. Key updates include automatic Monero node switching, offer preservation without arbitrators, additional mainnet nodes, randomized historical trade amounts, IPv6 support, and a "send max" button for withdrawals. New contributors include sraver, fa2a5qj3, shortwavesurfer2009, and milahu. The full changelog is available on GitHub.
Haveno can now be used on Monero’s main network through a third-party network such as Haveno Reto. Haveno-Reto has launched a new website to introduce its flagship instance of Haveno, the non-custodial, decentralized exchange platform for crypto and fiat currencies built on Tor and Monero. As the first fully functional Haveno instance on mainnet, Haveno-reto offers low arbitration fees (0.1% taker, 0.5% maker) and zero general fees. Designed for ultimate privacy, it adapts the Bisq model specifically for Monero. The site provides download links for the Haveno-reto installer across multiple operating systems. Users should exercise caution when using the service as it’s still quite new.
Rotten announced that someone supposedly built a Haveno DEX mobile application for Android and successfully completed a trade on stagenet.
XMR-BTC atomic swap v0.13.3 has been released, introducing a cooperative Monero redeem feature and simplifying the CLI with an optional --change-address. Downloads and the full list of changes are available on GitHub.
Keystone Hardware Wallet has announced an upcoming integration of Monero (XMR) following a call with the Cake Wallet team. The exact timeline for the integration will be shared once details are finalized. Stay tuned for further updates.
The MMGen Project has released MMGen Wallet version 14.1.0, an online/offline cryptocurrency wallet for the command line. This update introduces several new Monero features and improvements, including offline transaction signing, new sweep_all operation, fee-prioritizing of transactions, and additional rescan and skipping options. The full list of changes is available on GitHub.
Stack Wallet v2.1.3 has been released, featuring various fixes and improvements. Stack Wallet is a crypto wallet developed by longtime members of the Monero community. Updates include showing confirmation counts, removing unnecessary permissions, fixing null errors and spacing issues, and adding multi-address functionality to FROST. The full list of changes can be found on GitHub.
Jeffro256 has shared the first progress report (June 2024) for their Monero/Seraphis development CCS proposal. This month, significant efforts were focused on integrating legacy address support into the Jamtis-RCT library, along with code cleaning, documentation expansion, and hardware device support. You can find the report here.
0xFFFC has released the second progress report (June 2024) for their full-time Monero development CCS proposal. Key achievements include significantly improving monerod start-up speed by 3x and contributing to multiple Monero Core PRs, such as updating the tx_pool data structure and fixing a filename comparison bug. Additional efforts were focused on the Monero Stressnet Experiment and performance debugging. The complete list of contributions is available on GitHub.
Monero Observer has released a new Monero Dev Activity Report to provide a big-picture view of Monero's development activity throughout the past week. If you’re interested in the nitty gritty, check it out here.
Several bounties are open to support the development and improvement of Monero. Freelance developers can visit the Monero Bounties website to find projects they might be interested in working on. Additionally, anyone can show support by donating XMR to these bounties.
SamsungGalaxyPlayer has initiated a discussion for the new OpenAlias v2 specification, aiming to modernize and improve the widely-used Monero username address system. OpenAlias v2 seeks to retain the benefits of the current version while supporting assets on multiple blockchains and incorporating additional metadata features. The discussion and proposed specification are available on GitHub, and community feedback is encouraged. For more details and to join the discussion, visit here and here.
General News
David Black has written a blog for LIBERECO titled "Redefining Money for the Digital Age: The New Monetary Properties of Cryptocurrency." In it, he explores how cryptocurrencies like Monero can be considered true digital money by examining their properties such as decentralization, privacy, and scalability. Black argues that these properties, along with traditional monetary features, make cryptocurrencies well-suited to survive in an adversarial environment. He highlights how Monero stands out among other cryptocurrencies for its comprehensive monetary properties. Read the full blog here.
Last week, Serai participated in a Twitter Spaces event with THORChain, Maya Protocol, and Chainflip. Serai, a new DEX offering a liquidity-pool-based trading experience, plans to list Bitcoin, Ethereum, DAI, and Monero. The event provided insights into Serai's features and how it fits into the broader crypto ecosystem.
Unsanctionedf announced the establishment of a new /c/monero community on Lemmy.cafe following reported DDoS attacks on Monero.town. These attacks led to downtime and Cloudflare's attack mode, disrupting federation and visibility. At the moment Monero.town is working fine, but feel free to Join the new community at lemmy.cafe/c/monero.
Last Friday, a major IT outage caused by CrowdStrike disrupted banking services and payment systems worldwide, affecting banks, card payments, shops, airlines, and media. According to reports, the outage brought significant inconvenience across various sectors. In contrast, Monero's decentralized payment system remained fully operational, showcasing the resilience and reliability of decentralized finance. This incident underscores the importance of not relying solely on the legacy financial system and highlights the advantages of using Monero for uninterrupted transactions.
Moner-Master has introduced a crypto tip card designed to help new users get into Monero. The card is intended to be handed out when tipping someone who doesn't have crypto, guiding them to set up a Cake Wallet through a step-by-step guide available here.
Revuo Monero Issue #203 has been published. Check it out for a weekly dose of Monero news.
In Monerotopia Episode #174, the show covers a variety of topics, including betting on Copa Monero games using Sigmanero, the Monero Price Report with Bawdy, and the latest news with Tony. The episode also discusses XMR's increasing vendor payments compared to BTC and Trump's pro-Monero stance. You can watch the episode here.
In a recent episode of Monero Talk, Sterlin Lujan, Kenny Palentano, and Dan O’Neil sit down to discuss the case of Ross Ulbricht, creator of the Silk Road darknet marketplace, and the ongoing efforts to secure his release from prison. Recorded at Porcfest 2024, the conversation debunks myths about Ulbricht's alleged involvement in murder-for-hire schemes and highlights the disproportionate sentence he received. The speakers also address the evolving landscape of drug laws and cryptocurrency acceptance, noting support for Ulbricht's release from figures like Donald Trump and Robert F. Kennedy Jr. The episode underscores the broader implications for civil liberties and the cryptocurrency community. Check it out here.
Last week, CopaMonero Games #3 and #4 featured exciting matches with PirateChain facing TrocadorApp and XMRBazaar taking on Monerotopia. The games, streamed on YouTube and Twitch, showcased Monero's growing adoption in Ibarreta, Argentina, as locals shift from fiat to untraceable digital cash. Supporters were encouraged to donate to help fund the tournament and increase the Monero prize for the winning teams. Catch the replays and support Monero Town by watching and sharing the event!
It appears that the Republican VP nominee JD Vance's values are closely aligned with Monero, as evidenced by his tweet from February 2022.
Events
A Monero Research Lab (MRL) meeting will take place on Wednesday, July 24, 2024 at 17:00 UTC. You can find more information about the meeting here, thanks to the Monero Observer. The MRL meeting will take place in the #monero-research-lab channel if you want to lurk in real-time.
The next Seraphis Wallet Workgroup meeting is on Monday, July 22, 2024 1800 UTC in the #no-wallet-left-behind IRC channel. You can learn more about Seraphis here.
The next Cuprate Meeting is scheduled for July 23, 2024, at 18:00 UTC in the #cuprate channel on IRC. Cuprate is an alternative Monero node, written in Rust, designed to independently validate Monero consensus rules, providing added security, redundancy, and improved memory safety for the network. More information can be found here and here.
Exchanges and Merchants
Monero was the most used cryptocurrency on ShopinBit, Europe's biggest Bitcoin store, in June 2024, with a usage rate of 74.54%, more than doubling from May's 31.02%. This surge flipped Bitcoin, which dropped to 23.64%, marking Monero's continued rise in popularity. Additionally, Monero recently outpaced Bitcoin on Coincards for the first time.
OrangeFren.com, a cryptocurrency instant exchange platform, shows Monero (XMR) at 31% usage, significantly outpacing Bitcoin (BTC) at 21%.
Kind-Weakness-4011 has initiated a Haveno Listings Request Thread to help users request specific listings or payment methods more efficiently through Libera chat. By using Libera Chat in the ‘Haveno’ channel, users can communicate their needs before placing an order, addressing the app's current lack of pre-order communication. This effort aims to promote a local P2P network for XMR and privacy activists, and enhance P2P options for selling Monero for cash in person. Join the discussion to contribute to this community-driven initiative.
Trocador, an instant exchange, recently faced accessibility issues with its .i2p and .onion services due to a DDoS attack affecting its Tor service. While users experienced intermittent access, Trocador confirmed normal operations in the past few days. The team has resolved a bug affecting i2p, and the service is now functioning properly. For accurate access information, users should refer to official links on Trocador's website and contact support for any issues.
Monerica, A directory for a Monero circular economy, is currently under a DDoS attack, receiving nearly 2 million requests per hour and consuming hundreds of gigabytes of bandwidth. Resolving this issue will require implementing a CDN for pages and making application changes. For updates, visit Monerica and Monerica's status on X.
Tommy from AllArk reported on r/Monero about their fully launched private, zero KYC XMR to Cash service across the US, UK, Europe, and the Middle East. After a successful soft launch in 2023, users can now exchange XMR (and other cryptos) for cash in multiple cities. With coverage in over 120 cities, AllArk allows cashing out amounts ranging from a few thousand dollars to $250k+ per transaction, making it easy to spend XMR while traveling. For more details, reach out to AllArk.
MoneroDice, a new privacy-respecting dice game, has been launched on the Monero blockchain. The game requires no accounts, deposits, or KYC, and offers two modes: Fast, which provides instant results, and Provably Fair, which ensures fairness by using confirmed transactions. Additionally, players can enjoy both classic and four-deck versions of blackjack, complete with stunning audiovisual effects. For more details and to play, visit MoneroDice, or check out this Reddit post.
Slade991 reported on r/Monero that servers.guru is celebrating its 3rd anniversary of providing anonymous VPS and web hosting for the Monero community. To mark this milestone, they are offering a 30% recurring discount on all products (except ARM VPS and Cloud servers) with the coupon 3YEARS_30. Over the past three years, they have implemented user feedback, added a Tor address, and now offer Windows VPS. As an anonymous hosting provider, servers.guru does not require any personal data for setup. For more information, visit servers.guru.
Kraken Germany will delist Monero (XMR) on August 19, 2024, making it an unsupported asset. After this date, XMR will be set to withdrawal-only mode. Users should take necessary actions before the delisting.
Community Crowdfunding
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.
CCS proposals - funding required:
A new proposal for the MAGIC Monero Fund, titled XMR + Paga: Sovereign Business Infrastructure, is seeking community input. The proposal requests $222,000, but concerns have been raised about the high cost and the early, uncertain state of the software and user base. For more details, visit the MAGIC Monero Fund GitHub issue and review the proposal document.
Trading and Speculation
According to NoFOMO - “Bullish continuation on this asset, as long as BTC can hold current support. Almost an identical pattern from its initial rise many years ago. My only concern is they were delisted from the major exchanges not too long ago. Whilst that is normally bearish for bulls, some charts appear to have their own mind. This is priming up for another major move.”
According to norok - “I have been pointing out on my social media and Livestreams that Monero has been outperforming Bitcoin since April 2024. This inversion in the XMRBTC cross pair is interesting in itself considering most cryptocurrencies remain in high correlation to Bitcoin BTCUSD but there is more that can be inferred by this relationship. First, we will look at the key data point in the past that could be happening and then I will offer a possible explanation for this phenomenon.
Bitcoin Maxis will point out that over the last 2 years Bitcoin overall has outperformed Monero by 25%. That's not the point. It is not that Monero is a "better" long term investment. Bitcoin has far more bullish history. The point is that the last time Monero outperformed Bitcoin was through the whole 2022 bear cycle. The outperformance did not end until January of 2023 when the Bitcoin bull trend started.
If history is a guide then Monero outperformance, especially sustained over many months, is an indicator itself that a bearish cycle of Bitcoin is confirmed. It also could be argued that Monero could become the "flight to safety" during bear cycles. We only have one sure data point but are currently witnessing a second.
How can Monero do this? The best possible explanation is the Dark Web. On-chain transaction on Bitcoin have become prohibitively expensive. The alternative of using Lightning network, by having to setup and join nodes, negates the privacy that the Dark Web runs on. Monero has over the last few years become more dominant to the point that now it is the only cryptocurrency used on many Dark Web sites. Monero is the clear winner in the privacy use case for cryptocurrency.”
Network Metrics
Total Monero in Circulation — 18,466,155 XMR
Monero Total Marketcap — $3,041,553,463
Coinmarketcap Ranking — #30
XMR/USD Price — $164 USD
XMR/BTC Price — 0.002449 BTC
Monero.Boats’ Monero Street Price — $170 USD (+3.32%)
Average Transaction Fee — 0.00033 XMR ($0.054)
Monero Network Hashrate —2.25 Ghash/s
Entertainment
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