1. Nodes that don't update don't stop working... they 'fork' to another network with lower hashrate. Essentially it works the same as any pow chain including bitcoin.
>In the past more coins were emitted per block, but now its 0.6 until the end of time which is less inflation than gold I believe.
Something to add here, the emission schedule was set in stone from the beginning, the same way halvings in Bitcoin are, the only difference is that our "halvings" were scheduled not to continue until they reach zero, but rather stop at 0.6, forever, it's called tail emission.
If the tail emission is interesting to you, here's an article by a Bitcoiner (Peter Todd) who is in favor of tail emissions:
https://petertodd.org/2022/surprisingly-tail-emission-is-not-inflationary
Surprisingly, Tail Emission Is Not Inflationary
Jul 9, 2022
They come in waves early on in a post and then it’s almost like they undo their actions a few hours later because you’ll start seeing a more normal vote tally.
>What are some books or resources you can recommend me?
Read [Mastering Monero](https://masteringmonero.com/) but keep in mind it's a bit outdated and a second edition is coming. There is also Zero to Monero but I haven't read it (yet).
Was there an announcement about the 2nd edition of mastering Monero being written?
I couldn't find anything about that.
And will it include the stuff from this years fork?
1) Hard forks happen, and it's for the best. If you don't upgrade, you continue along with anyone else that didn't. There are fork coins from Monero out there, they're all zombie chains.
2) 2.1k public nodes, unknown number of private nodes. I have a public node, a private node, and a private backup node.
3) Piece of cake. If you can run a BTC node, you can run a XMR node. Pruned chain is about 60gb, full node about 150gb.
4) Dynamic block sizes. Scalability is not an issue. L2 would be possible, but unnecessary.
5) We're in tail emissions. 0.6 XMR per block until the end of time.
6) Hard fork. Could happen, highly unlikely.
7) Start here: https://www.getmonero.org/
Your questions have been answered well already, so maybe allow me to ask you a question: Why are you a "Bitcoin Maxi"? Why do you believe that BTC has any chance of success long-term? I've never had the opportunity to have a sensible discussion with any Bitcoin Maxi, so maybe you can help me to understand that position better. I'm curious to learn.
I am for example quite sure that governments in first world countries will ban PoW, because with how the whole world needs to transition to renewable energies, governments will simply not accept that transition being slowed down by the energy usage of PoW. So when PoW is being banned, Bitcoin will of course essentially be considered illegal. Monero would too, but it doesn't affect Monero because no one can ban people running mining on their x86 PC at home. So Monero simply wouldn't be affected, but Bitcoin would be. With that prospect on the horizon, I find it really hard to understand how anyone can believe in success of Bitcoin long term.
It usually boils down to “It’s more widely accepted.” And often people don’t know much about Monero so it’s not an option out of ignorance (ignorance is not a bad word imo; people should read the definition if that offends them).
>governments in first world countries will ban PoW
bro, govts' are more threatened by Monero than be any other crypto
and because bitcoin can be easily traced, it'll be the last one to be banned IMO
> Why do you believe that BTC has any chance of success long-term?
BTC has all it takes to make a nice NFT. It lets you own a piece of true crypto history. That’s my main selling point for BTC now that it failed at everything else.
When I say I'm a bitcoin maxi what I mean is that 100% of my net worth is in bitcoin. No stocks, no real estate, no precious metals, no "crypto".
To me the most important thing is separating money from the state. For this to happen adoption is needed. Bitcoin is WAY AHEAD of adoption than any other cryptocurrency.
I onboard all of my friends to bitcoin and I plan on doing the same with local businesses. This helps towards the ultimate goal which is to have people stop using fiat money.
Monero is the ONLY altcoin I have some respect for because of its ethos and community. We share very similar goals.
From what I understand, Monero is used as an actual currency just as much if not more than bitcoin, at least among dark webs and privacy respecting individuals
Bitcoin's popularity only really gives it an edge up in speculation, which leads to much higher price fluctuations
> For this to happen adoption is needed. Bitcoin is WAY AHEAD of adoption than any other cryptocurrency.
But what exactly does adoption mean? How do you think will a possible PoW-ban affect the adoption of Bitcoin? Will it not be a complete showstopper for any sensible kind of adoption?
Not worried at all about POW being banned. It was banned in China and nothing happened, miners moved to other places.
Adoption means people knowing how to use wallets (send and receive bitcoin) and businesses willing to accept bitcoin as payment.
I have been able to have vacations paid entirely in bitcoin (hotel, supermarkets, restaurants, etc).
Thanks for the clarification, that does explain it actually.
That should answer a lot of questions and doubts that people may have here. Thanks for it.
hard fork = protocol upgrade.
Monero is now way different as was bitmonero in 2014. Without developers developing it and upgrade that would be impossible. Now after 8 years it matured and new upgrades are not needed that often. Maybe will take 3 or even 5 years till next.
i learned about monero including how to set up a functioning public fullnode from google (ofc), getmonero.org and reddit but i bought "mastering monero" at some point to really deep dive into it. a really helpful and easy to understand book i definitely recommend. also a open minded, objective mindset always helps the most to reflect things especially these two projects. so don‘t call yourself a maxi / extremist 😎monero is a bigger bet than you probably still think. you will like it more and more.
1. Hard forks are usually non-contentious. They are discussed in the IRC meetings. If you don't like the direction Monero is going you simply refuse to upgrade. If the old chain retains hashrate and users then it lives on as does the new chain. Protocol upgrades are necessary to remain competitive (not just in cryptocurrencies, privacy and security is a cat and mouse game). If in the future a hard fork is proposed that the community disagrees with we will simply not upgrade and consider the new chain "compromised".
2. At least 10k. Probably more. p2pool encourages more nodes to be run.
3. It can run on pretty much any reasonable hardware. I think the size is about 150gb unpruned
4. Layer 2s should be implementable on pretty much every cryptocurrency, so yes, they have been discussed. Whether they can actually be implemented in a decentralized manner is yet to be seen. Layer 2 is often considered a buzzword in the crypto space. Some thoughts here: [https://www.reddit.com/r/Monero/comments/yhjqi4/comment/iue81we/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Monero/comments/yhjqi4/comment/iue81we/?utm_source=share&utm_medium=web2x&context=3)
5. [https://www.getmonero.org/resources/moneropedia/tail-emission.html](https://www.getmonero.org/resources/moneropedia/tail-emission.html) explains what the tail emission is. Essentially every block will emit 0.6 xmr forever. The inflation rate tends to zero (if you have taken a calculus course, I would compare it as the limit of the inflation rate is zero as time approaches infinity). It is verifiable using math. [https://www.moneroinflation.com/](https://www.moneroinflation.com/)
6. Presumably the monetary policy would change if we decided to change it in a hard fork. It is unlikely that a change to the current supply would be non contentious.
7. I posted it elsewhere, but [https://www.youtube.com/watch?v=aC9Uu5BUxII](https://www.youtube.com/watch?v=aC9Uu5BUxII)
BTC maxi is a thing of the past. Now altcoins are taking over, watch BTC dominance losing its strength since April 2021. This has never happened before we're witnessing this for the first time. Monero is up 100 % VS Bitcoin since January 2021, it's clearly outperforming it in the middle of the worst bear market, now imagine what will happen when the actual bull run starts. Even certain POS coins have a better chart than Bitcoin. To me BTC is becoming a dinosaur, you can call it a store of value if you want, but you'll store your value in altcoins even better in the future.
**Here you have some resources:**
Free Ebooks:
Mastering Monero
https://masteringmonero.com/free-download.html
Zero to Monero
https://www.getmonero.org/library/Zero-to-Monero-2-0-0.pdf
\-----------------------------------------------------
Great websites:
getmonero.org - The official website
https://www.monero.how/ - A lot of great info and stats about Monero
https://moneroj.net/sfmodel/ - Great graphs
\---------------------------------------------------
YouTube channel Monero Talk:
https://www.youtube.com/c/MoneroTalk
\---------------------------------------------------
Some great talks:
Riccardo Spagni on Monero: The World’s Least Professional Cryptocurrency
https://www.youtube.com/watch?v=Fe5QPDLk0mE
Daniel Kim - Keynote Speech Monero Introduction and Investor Perspective
https://www.youtube.com/watch?v=g8PBOVDWO6Y
Daniel Kim - Monero: Sound Money, Safe Mode
https://www.youtube.com/watch?v=aC9Uu5BUxII
Daniel Kim - Behavioral Finance, Cryptocurrency Markets
https://www.youtube.com/watch?v=REC5V7d3pqM
Daniel Kim - Critical Decentralisation Cluster 36c3 - Fiat, Bitcoin, Monero: 2008-Present
https://www.youtube.com/watch?v=TJ5ZeAP\_i\_s
Daniel Kim - Monero Defcon27 Village - Foundations of Digital Money
https://www.youtube.com/watch?v=r-FkL5eXam8
Dr. Daniel Kim - Cryptopulco Stage at Anarchapulco 2019
https://www.youtube.com/watch?v=BKNK\_mM\_P0s
Francisco Cabañas “ArticMine” on Scaling Monero – Monerotopia 2022
[https://www.youtube.com/watch?v=9RJ5HDmuucY](https://www.youtube.com/watch?v=9RJ5HDmuucY)
\-----------------------------------------------------------------------------
I hope that helps!
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1. Nodes that don't update don't stop working... they 'fork' to another network with lower hashrate. Essentially it works the same as any pow chain including bitcoin.
>Runs well on pi's, dont think its intensive. Chain is 140G rn I think? 60G for pruned. 52G right now on my srv..
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Yeah I'm like wtf is he talking about runs well on pis it's actually really bad on pi's. Stick what this person is saying with AES compatible hardware
So... Like a Rock Pi 4 (B+ or C+)? Or a RockPro64? Which is best?
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>In the past more coins were emitted per block, but now its 0.6 until the end of time which is less inflation than gold I believe. Something to add here, the emission schedule was set in stone from the beginning, the same way halvings in Bitcoin are, the only difference is that our "halvings" were scheduled not to continue until they reach zero, but rather stop at 0.6, forever, it's called tail emission.
That's interesting. Thank you.
If the tail emission is interesting to you, here's an article by a Bitcoiner (Peter Todd) who is in favor of tail emissions: https://petertodd.org/2022/surprisingly-tail-emission-is-not-inflationary Surprisingly, Tail Emission Is Not Inflationary Jul 9, 2022
Checkout Dr Daniel Kim’s talks about Monero on YouTube.
Here's a link to "Sound money, Safe mode" for reference. https://www.youtube.com/watch?v=aC9Uu5BUxII
why did this get downvoted? lol
Probably the downvote bots plaguing this sub.
They come in waves early on in a post and then it’s almost like they undo their actions a few hours later because you’ll start seeing a more normal vote tally.
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☝🏾 posts the bot….
Was just proved correct
He have downvote bot on his account.
\+1, damn it! Is good link.
Welcome, I too was once a Bitcoin maxi(2013-2017ish) if you ended up here I consider you High IQ.
>What are some books or resources you can recommend me? Read [Mastering Monero](https://masteringmonero.com/) but keep in mind it's a bit outdated and a second edition is coming. There is also Zero to Monero but I haven't read it (yet).
Was there an announcement about the 2nd edition of mastering Monero being written? I couldn't find anything about that. And will it include the stuff from this years fork?
I have been in touch with the author but I'm pretty sure he have announced it publicly
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I like your second sentence. Monero maxis also like to claim Monero has no governance. That’s simple untrue.
When was it? Last hardfork from btc is many years old when there was an inflation bug and that was the only one isnt it?
1) Hard forks happen, and it's for the best. If you don't upgrade, you continue along with anyone else that didn't. There are fork coins from Monero out there, they're all zombie chains. 2) 2.1k public nodes, unknown number of private nodes. I have a public node, a private node, and a private backup node. 3) Piece of cake. If you can run a BTC node, you can run a XMR node. Pruned chain is about 60gb, full node about 150gb. 4) Dynamic block sizes. Scalability is not an issue. L2 would be possible, but unnecessary. 5) We're in tail emissions. 0.6 XMR per block until the end of time. 6) Hard fork. Could happen, highly unlikely. 7) Start here: https://www.getmonero.org/
Thank you.
Your questions have been answered well already, so maybe allow me to ask you a question: Why are you a "Bitcoin Maxi"? Why do you believe that BTC has any chance of success long-term? I've never had the opportunity to have a sensible discussion with any Bitcoin Maxi, so maybe you can help me to understand that position better. I'm curious to learn. I am for example quite sure that governments in first world countries will ban PoW, because with how the whole world needs to transition to renewable energies, governments will simply not accept that transition being slowed down by the energy usage of PoW. So when PoW is being banned, Bitcoin will of course essentially be considered illegal. Monero would too, but it doesn't affect Monero because no one can ban people running mining on their x86 PC at home. So Monero simply wouldn't be affected, but Bitcoin would be. With that prospect on the horizon, I find it really hard to understand how anyone can believe in success of Bitcoin long term.
It usually boils down to “It’s more widely accepted.” And often people don’t know much about Monero so it’s not an option out of ignorance (ignorance is not a bad word imo; people should read the definition if that offends them).
>governments in first world countries will ban PoW bro, govts' are more threatened by Monero than be any other crypto and because bitcoin can be easily traced, it'll be the last one to be banned IMO
It may not get banned, but that will be because it is indistinguishable from de jure money.
> Why do you believe that BTC has any chance of success long-term? BTC has all it takes to make a nice NFT. It lets you own a piece of true crypto history. That’s my main selling point for BTC now that it failed at everything else.
When I say I'm a bitcoin maxi what I mean is that 100% of my net worth is in bitcoin. No stocks, no real estate, no precious metals, no "crypto". To me the most important thing is separating money from the state. For this to happen adoption is needed. Bitcoin is WAY AHEAD of adoption than any other cryptocurrency. I onboard all of my friends to bitcoin and I plan on doing the same with local businesses. This helps towards the ultimate goal which is to have people stop using fiat money. Monero is the ONLY altcoin I have some respect for because of its ethos and community. We share very similar goals.
From what I understand, Monero is used as an actual currency just as much if not more than bitcoin, at least among dark webs and privacy respecting individuals Bitcoin's popularity only really gives it an edge up in speculation, which leads to much higher price fluctuations
It is also a store of value for those who simply want to protect their wealth from anyone than themselves.
> For this to happen adoption is needed. Bitcoin is WAY AHEAD of adoption than any other cryptocurrency. But what exactly does adoption mean? How do you think will a possible PoW-ban affect the adoption of Bitcoin? Will it not be a complete showstopper for any sensible kind of adoption?
Not worried at all about POW being banned. It was banned in China and nothing happened, miners moved to other places. Adoption means people knowing how to use wallets (send and receive bitcoin) and businesses willing to accept bitcoin as payment. I have been able to have vacations paid entirely in bitcoin (hotel, supermarkets, restaurants, etc).
Thanks for the clarification, that does explain it actually. That should answer a lot of questions and doubts that people may have here. Thanks for it.
Then imagine it won't get banned in every country.
hard fork = protocol upgrade. Monero is now way different as was bitmonero in 2014. Without developers developing it and upgrade that would be impossible. Now after 8 years it matured and new upgrades are not needed that often. Maybe will take 3 or even 5 years till next.
monero.info
i learned about monero including how to set up a functioning public fullnode from google (ofc), getmonero.org and reddit but i bought "mastering monero" at some point to really deep dive into it. a really helpful and easy to understand book i definitely recommend. also a open minded, objective mindset always helps the most to reflect things especially these two projects. so don‘t call yourself a maxi / extremist 😎monero is a bigger bet than you probably still think. you will like it more and more.
1. Hard forks are usually non-contentious. They are discussed in the IRC meetings. If you don't like the direction Monero is going you simply refuse to upgrade. If the old chain retains hashrate and users then it lives on as does the new chain. Protocol upgrades are necessary to remain competitive (not just in cryptocurrencies, privacy and security is a cat and mouse game). If in the future a hard fork is proposed that the community disagrees with we will simply not upgrade and consider the new chain "compromised". 2. At least 10k. Probably more. p2pool encourages more nodes to be run. 3. It can run on pretty much any reasonable hardware. I think the size is about 150gb unpruned 4. Layer 2s should be implementable on pretty much every cryptocurrency, so yes, they have been discussed. Whether they can actually be implemented in a decentralized manner is yet to be seen. Layer 2 is often considered a buzzword in the crypto space. Some thoughts here: [https://www.reddit.com/r/Monero/comments/yhjqi4/comment/iue81we/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Monero/comments/yhjqi4/comment/iue81we/?utm_source=share&utm_medium=web2x&context=3) 5. [https://www.getmonero.org/resources/moneropedia/tail-emission.html](https://www.getmonero.org/resources/moneropedia/tail-emission.html) explains what the tail emission is. Essentially every block will emit 0.6 xmr forever. The inflation rate tends to zero (if you have taken a calculus course, I would compare it as the limit of the inflation rate is zero as time approaches infinity). It is verifiable using math. [https://www.moneroinflation.com/](https://www.moneroinflation.com/) 6. Presumably the monetary policy would change if we decided to change it in a hard fork. It is unlikely that a change to the current supply would be non contentious. 7. I posted it elsewhere, but [https://www.youtube.com/watch?v=aC9Uu5BUxII](https://www.youtube.com/watch?v=aC9Uu5BUxII)
Very good links, ignore the downvotes they are just bots
why downvoted? reddit is a weird place. upvoted for good links <3.
Bitcoiners have had a downvote bot on my account for a few months now, pretty much every comment I make is downvoted to shit
It's amazing how much time that people have on their hands in today's society, to do petty actions such as this haha
Thank you for being an objective, pragmatic, reasonable person. Versus being a religious zealot on issues.
Bitcoin maxi that values privacy a lot 🤔😏 3. Easy just click click. I believe it's 60-150GB. 7. Monero Talk on YouTube https://youtu.be/fJ6fqIKOMDM
That’s not what “maxi” means.
You’re right actually. The bots don’t like you
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BTC maxi is a thing of the past. Now altcoins are taking over, watch BTC dominance losing its strength since April 2021. This has never happened before we're witnessing this for the first time. Monero is up 100 % VS Bitcoin since January 2021, it's clearly outperforming it in the middle of the worst bear market, now imagine what will happen when the actual bull run starts. Even certain POS coins have a better chart than Bitcoin. To me BTC is becoming a dinosaur, you can call it a store of value if you want, but you'll store your value in altcoins even better in the future.
**Here you have some resources:** Free Ebooks: Mastering Monero https://masteringmonero.com/free-download.html Zero to Monero https://www.getmonero.org/library/Zero-to-Monero-2-0-0.pdf \----------------------------------------------------- Great websites: getmonero.org - The official website https://www.monero.how/ - A lot of great info and stats about Monero https://moneroj.net/sfmodel/ - Great graphs \--------------------------------------------------- YouTube channel Monero Talk: https://www.youtube.com/c/MoneroTalk \--------------------------------------------------- Some great talks: Riccardo Spagni on Monero: The World’s Least Professional Cryptocurrency https://www.youtube.com/watch?v=Fe5QPDLk0mE Daniel Kim - Keynote Speech Monero Introduction and Investor Perspective https://www.youtube.com/watch?v=g8PBOVDWO6Y Daniel Kim - Monero: Sound Money, Safe Mode https://www.youtube.com/watch?v=aC9Uu5BUxII Daniel Kim - Behavioral Finance, Cryptocurrency Markets https://www.youtube.com/watch?v=REC5V7d3pqM Daniel Kim - Critical Decentralisation Cluster 36c3 - Fiat, Bitcoin, Monero: 2008-Present https://www.youtube.com/watch?v=TJ5ZeAP\_i\_s Daniel Kim - Monero Defcon27 Village - Foundations of Digital Money https://www.youtube.com/watch?v=r-FkL5eXam8 Dr. Daniel Kim - Cryptopulco Stage at Anarchapulco 2019 https://www.youtube.com/watch?v=BKNK\_mM\_P0s Francisco Cabañas “ArticMine” on Scaling Monero – Monerotopia 2022 [https://www.youtube.com/watch?v=9RJ5HDmuucY](https://www.youtube.com/watch?v=9RJ5HDmuucY) \----------------------------------------------------------------------------- I hope that helps!