I have been struggling from 5 days to understand monero. Was totally surprised to see a notification on my phone that said “Siraj Raval has uploaded a video - how does monero work” ... awesome content ... this has helped me a lot in understanding it... thanks Siraj :)
Just wanted to say thanks for actually mentioning the technologies involved like ring signatures rather than just saying “monero is private” like the other videos do
Siraj you should look closer at the story of Ross before you repeat lies like "he was ordering hits on people" - it was a smear piece used against him during the early days of his arrest to ensure he was viewed as a bad person and the authorities never were able to substantiate any of those claims. How would you feel if you were wrongly accused and called a murderer but nobody had to provide any evidence?
hahaha you're right Kyle. im aware of the influence my videos can have. its a big responsibility for one dude but i asked for it. i dont want metaphorical blood on my hands. ring signatures are such a cool idea though
Siraj, you're awesome. Whenever I get interested in some cool technology, you already have a video covering it. Always on the top of the things. Keep it up buddy!
I thought the silk road guy was caught because they found a post discussing the silk road, on the clear web, by him using an email with his real name in it.
wow Siraj, your notes look to be quite an extensive study as well, is that part of the repository (couldn't find it) or part of public monero resources ? thanks for your amazing content and energy that you put into organising your content!!
Governments are now developing and using software to track Bitcoin's transactions and users for tax evasion and so on. Monero is the ultimate answer to this problem. 2018 will be Monero's year.
Luigi Tecnologo Bitcoin wasn't meant to be an anonymous form of money, it was made to be a "Peer to peer system of electronic cash", according to the white paper. I don't see " Privacy" or "Anonymous" in there.
If you really want secured transactions why being fast, you guys really need to be up to speed. Lookup the technology HashGraph; the days of Blockchains and any versions are coming to an end, but not anytime soon. They are no coins yet established with this new tech means you have a heads up. What you do with the information is up to you. :)
Monero, Zcash, Dash ... these private coins are interesting for many people but especially for finacial institutes. Zcash has the advantage that it has an addressed institution, while Monero is complete decentralised ... states, banks and so on will never accept a private currency that is complete decentral ... this works only if all countries in the world would unite ... and I can`t see this für the next 300 years.
Imagine you life in a country where Things are illegal you do in your country everyday you start a Political campaign and need Money for that. Which One you will prefer? the One the gov Has the ability to Check that who spend money to you and where you will spend it on or the One that is completely private? Edit: XMR to Nibiru!
Is sending XMR from one exchange to another traceable? Does it have to go through a Monero wallet to break the trace-ability? What about Exchange to Trezor to another Exchange? (I'm new to xmr, and trying to learn)
This technology is amazing, Monero's ability to be transparent through the one time key I think is the key point in its ability to scale and be more viable for everybody, while still honoring individuals privacy. Brilliant.
+Siraj Raval i've tried to access changelly for over a week now. The site has been down, Reddit has very poor comments about them too. Why do you recommend them for monero, and where else can I buy monero?
1. it's never too late to get into in Monero, the best privacy coin out there. 2. Theres an upcoming hard fork & Airdrop with MoneroV. You get 10 XMV for each 1 XMR. 3. This will probabaly drive Monero up like crazy in 2018. 4. Hold for long, believe in true privacy!
This is a breath of fresh air! Everyone talks about cryptocurrency in terms of prices and how to make money with it. Understanding the tech and how it translates to the real world is exactly what I'm looking for!
‘I am here to give you knowledge so that you can do Good in the World’ Saraj, you are nominated top human! Thanks again for providing these wonderful videos. Do you have any books or swag I can purchase?
Mining monero .. What minimum specs( or graphic card) do we require to mine monero profitably.? What's the transaction fee for changelly if I use my master card ..? And is it better than shapeshift ??
I don't understand the third way to anonymize bitcoin? How do you purchase an asset than convert back into bitcoin? Won't just at that time you could be revealed?
Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Could you explain how to move them to Binance?
Hi, what about Verge currency, I thought it is better than Monero when Wraith protocol implemented which is a switch on and off the public and private blockchain.
2 questions left unanswered for me: 1. How does the sender being anonymous translate into them getting paid for their "data"? 2. Is it even possible to audit this blockchain while keep the anonymity completely uncompromised?
I've been wanting to understand crypto for a long time but it really confuses me....especially because of the limits on purchasing as far as payment method goes...I don't have a bank account. This video is very easy to understand as a beginner and I just wanted to say thanks.
I think our value is in what we do - period. And I think the blockchain represents the ability to both companies AND us to capitalize on that our use of their products alone.
Ok... I see a potential vulnerability here. If you know which users in a given ring are nodes, then you can deduce which one is the actual transaction. Am I right, or am I missing something?
Ross Ulbricht, the founder of the Silk Road had a vision of creating a marketplace where most everything can be bought and sold with some moral exceptions. He didn't ordered hits on people.
Great video bro! Thanks! Also thanks for showing that PRIVACY DOES NOT EQUAL things that are illlegal... Have heard that those who are serious about criminal activity prefer diamonds. This is more for a private individual! Question, if a person purchases MONERO on someplace like Binance, would it not be connected that you purchased it from BINANCE. Private after that but a record that you purchased MONERO from Binance?
Good video, but you are referring to Ross Ulbricht. And he never ordered hits on people, or sold drugs. He simply created a bitcoin marketplace, what people decided to sell in the form of goods and services he had no control over.
At first glance a thought that comes to mind is that there could be DOS vulnerability if someone wanted to slow down the network by posing ringCT transactions with no real inputs/output (all blue inputs with no “real” red one) especially since the transaction fees are fixed a motivated bad actor could create a lot of activity (as a portion of the block / whole blockchain capacity) without any real activity at all
What an amazing content, we feel the passion you have for the topic you've chosen, you've worked it, and made it understandable for crypto newbies. Thanks a lot
If bitcoin is not quantum computer proof or big mining centralization proof those that mean all the crypto currencies that uses blockchain are the same?
The whole banking system is not quantum proof because most cryptography isn't. Bitcoin is really the least of your concerns when it comes to quantum vulnerability. There are quantum resistant algorithms, IOTA uses one, but quantum computers are still quite far in the future.
JavaScript is a high-level* scripting language, good for writing nice looking web applications, or even some desktop/mobile ones when speed isn't a priority C/C++ on the other hand are compiled lower lever programming languages, and that means the following: Once compiled , C/C++ code can run directly on the processor (or GPU for that matter), hence leveraging its full raw power, while JavaScript requires other layers of software between it and the processor (Chrome V8 for instance, which is written in C++), that adds latency and wastes a lot of processing power. When it comes to mining, that could be the difference between making revenue or paying in electricity more than you manage to mine Why does this JavaScript miner exist in the first place you may ask? Simply because websites can embed it on their pages to mine on your device when you visit them: arstechnica.com/information-technology/2017/10/a-surge-of-sites-and-apps-are-exhausting-your-cpu-to-mine-cryptocurrency/ * The higher level you go, the more readable the language is to a human. The lower you go, the closer it is to machine byte-code, i.e. 1s and 0s
Cool! I had searched google and found this site: coinmarketcap.com/new/ and I found this site for new ICOs: icodrops.com/category/upcoming-ico/ but I don't really understand how to invest in any new cryptocurrency from real money. Maybe you could make a video explaining ICOs, how they work and what such a token is worth?
Good lord, you just don't know what you're talking about, there are so many factual errors in this video. - Digital fiat dollar is absolutely not private. - Ross Ulbricht was not caught because of tracing Bitcoin transactions. - Creating a new wallet for each transaction offers no additional privacy. You're thinking of new addresses, and virtually all wallets do this by default (if fact, the protocol is designed with this specifically in mind). I'm sure there's more but at this point I stopped watching. You have done just the bare amount of research required to convince a non-technical audience that you know what you are talking about and this is very dangerous.
Eddie Drury in the United States multiple law enforcement agencies have already said they can track down Bitcoin easily. Even if they didn't they could have.
-fiat dollar IRL is indeed private i.e exchaging paper currency by hand between 2 people -yes they did, they tracked the withdrawals arstechnica.com/tech-policy/2016/08/stealing-bitcoins-with-badges-how-silk-roads-dirty-cops-got-caught/ -yes you're correct about this point, i should've said addresses instead of wallets 99bitcoins.com/know-more-using-bitcoin-anonymously/
- Physical cash is private, sure, but in your Venn Diagram you have it under digital as well. Fiat is either digital or private, not both. - Sure, but this is not why he was caught. Which I grant you don't directly say, but I read it as the implication.
9:30 it's not just that (say) Target *mines* your data; it's the inherent risk in a 3rd party having your data at all. Target was attacked by hackers in 2013. 70 million records of personal information were stolen; quite likely yours, if you went to Target...
Investing in Monero. There are talks about an upcoming Monero fork with airdrop distribution, is this legit? MoneroV is claiming to be the finite version of Monero. Anybody familiar with this??
I have been struggling from 5 days to understand monero. Was totally surprised to see a notification on my phone that said “Siraj Raval has uploaded a video - how does monero work” ... awesome content ... this has helped me a lot in understanding it... thanks Siraj :)
Just wanted to say thanks for actually mentioning the technologies involved like ring signatures rather than just saying “monero is private” like the other videos do
Siraj you should look closer at the story of Ross before you repeat lies like "he was ordering hits on people" - it was a smear piece used against him during the early days of his arrest to ensure he was viewed as a bad person and the authorities never were able to substantiate any of those claims. How would you feel if you were wrongly accused and called a murderer but nobody had to provide any evidence?
Also worth noting the shady things a couple law enforcement agents were doing during the investigation
What were those?
LOL Siraj is paranoid af making this video
Kyle Horne Yea and it was so funny
hahaha you're right Kyle. im aware of the influence my videos can have. its a big responsibility for one dude but i asked for it. i dont want metaphorical blood on my hands. ring signatures are such a cool idea though
The only truly anonymous coin. As people notice this in 2018, the price while skyrocket.
Nikusuke Doguro But if X would have sent this from a wallet that has this function the transaction would show in his transaction history
Siraj, you're awesome. Whenever I get interested in some cool technology, you already have a video covering it. Always on the top of the things. Keep it up buddy!
Wow finally a youtuber who researches and explains! Most other youtubers just talk but don't say anything usefull. Nice job man
I thought the silk road guy was caught because they found a post discussing the silk road, on the clear web, by him using an email with his real name in it.
I need Monero to buy Michael Jackson's patented anti-gravity shoes, so I can be a smooth criminal... Too bad this video is not for me :(
Don't miss the MoneroV earning bus, forking on March the 8th, 2018
wow Siraj, your notes look to be quite an extensive study as well, is that part of the repository (couldn't find it) or part of public monero resources ?
thanks for your amazing content and energy that you put into organising your content!!
Great lecture. Really detailed but easy to follow
I seriously admire your work. Truly inspiring. Thank you for your quality content.
Governments are now developing and using software to track Bitcoin's transactions and users for tax evasion and so on. Monero is the ultimate answer to this problem. 2018 will be Monero's year.
@@zerosum4234 lol
normally don't sub to anyone but you really do a great job with your clear and concise approach to educating/teaching people. Well done Siraj
I kinda have to admit ive been waiting for siraj all week lol
Monero is how Bitcoin wanted to be. Bitcoin 2.0
Luigi Tecnologo Bitcoin wasn't meant to be an anonymous form of money, it was made to be a "Peer to peer system of electronic cash", according to the white paper. I don't see " Privacy" or "Anonymous" in there.
but bitcoin is both peer to peer and open source since the beginning
The key difference here is that Bitcoin is traceable, while Monero is completely untraceable.
Monero vs IOTA: two completely different types of currencies. Privacy coin vs internet of things coin
If you really want secured transactions why being fast, you guys really need to be up to speed.
Lookup the technology HashGraph; the days of Blockchains and any versions are coming to an end, but not anytime soon. They are no coins yet established with this new tech means you have a heads up. What you do with the information is up to you. :)
Monero, Zcash, Dash ... these private coins are interesting for many people but especially for finacial institutes. Zcash has the advantage that it has an addressed institution, while Monero is complete decentralised ... states, banks and so on will never accept a private currency that is complete decentral ... this works only if all countries in the world would unite ... and I can`t see this für the next 300 years.
Hello Siraj, can you do a video on RaiBlocks (XRB)?
hmm this is getting likes will look into it
Awesome, thanks!
Have to admit I haven't found videos for much of 2017 as good as previous ones, but this is solid. Nice work
Imagine you life in a country where Things are illegal you do in your country everyday you start a Political campaign and need Money for that. Which One you will prefer? the One the gov Has the ability to Check that who spend money to you and where you will spend it on or the One that is completely private?
Edit: XMR to Nibiru!
Is sending XMR from one exchange to another traceable? Does it have to go through a Monero wallet to break the trace-ability? What about Exchange to Trezor to another Exchange? (I'm new to xmr, and trying to learn)
This technology is amazing, Monero's ability to be transparent through the one time key I think is the key point in its ability to scale and be more viable for everybody, while still honoring individuals privacy. Brilliant.
+Siraj Raval i've tried to access changelly for over a week now. The site has been down, Reddit has very poor comments about them too. Why do you recommend them for monero, and where else can I buy monero?
Excellent presentation Siraj! Thank you!
Best Explanation On TH-cam! Thanks Sir!
wrg
Siraj bro .. its amazing thanks a lot for the good info
1. it's never too late to get into in Monero, the best privacy coin out there. 2. Theres an upcoming hard fork & Airdrop with MoneroV. You get 10 XMV for each 1 XMR. 3. This will probabaly drive Monero up like crazy in 2018. 4. Hold for long, believe in true privacy!
The best crypto currency by FAR.
This is a breath of fresh air! Everyone talks about cryptocurrency in terms of prices and how to make money with it. Understanding the tech and how it translates to the real world is exactly what I'm looking for!
Hey Siraj, what about Verge? Is it considered a privacy coin?
Can Any Exchange Track Our Monero Transaction or Not?
No, Monero is completely untraceable.
Your video is so good hope you get better and better!!
‘I am here to give you knowledge so that you can do Good in the World’
Saraj, you are nominated top human! Thanks again for providing these wonderful videos. Do you have any books or swag I can purchase?
Siraj , my man you are awesome , thumps up to you for make it simpler for me to understand this crazy crazy crypto world.
what are your thoughts on Javascript within the cryptosphere application development arena...where could i learn more & do you see a future around it
Did you make a transaction on an Android or apple device, traceable?
So glad you mentioned scaling... Monero has challenges ahead!
Hey Siraj thanks for the deep explanation I am very intrigued by the technology Monero is using especially the RING signature piece. Dope video.
I always learn something new and useful from your videos. Thank you.
Well great vid, but why didn't you mention more issues? Theres also an upcoming hard fork (and airdrop) with MoneroV you should prob know about.
Waiting for this upcoming fork! Can you please let me know any thread about this?
Mining monero .. What minimum specs( or graphic card) do we require to mine monero profitably.?
What's the transaction fee for changelly if I use my master card ..? And is it better than shapeshift ??
I don't understand the third way to anonymize bitcoin? How do you purchase an asset than convert back into bitcoin? Won't just at that time you could be revealed?
BOSS! Monero is leading the way in private crypto
Also, people on the r/Monero subreddit have advised against using changelly...
Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Could you explain how to move them to Binance?
Hi, what about Verge currency, I thought it is better than Monero when Wraith protocol implemented which is a switch on and off the public and private blockchain.
Would love a video comparing the tech behind Monero vs. Zcoin. Both are privacy coins but uses different tech
Awesome video, explained Monero really well!
siraj is a genius --- he really is
2 questions left unanswered for me:
1. How does the sender being anonymous translate into them getting paid for their "data"?
2. Is it even possible to audit this blockchain while keep the anonymity completely uncompromised?
Can one get a copy of that PDF for study purposes?
I've been wanting to understand crypto for a long time but it really confuses me....especially because of the limits on purchasing as far as payment method goes...I don't have a bank account.
This video is very easy to understand as a beginner and I just wanted to say thanks.
I like it...good way to present...quite prepared.
Great Lecture. Thanks for sharing!!!!
Thank you Siraj, very well explained!
truly bro your inspiration to me as looking monero as my 7th crypto token .keep doing vlog
Basic income for the rights to your data. What a great idea!
I think our value is in what we do - period. And I think the blockchain represents the ability to both companies AND us to capitalize on that our use of their products alone.
Make videos for such currencies ........nice work Siraj
Ok... I see a potential vulnerability here. If you know which users in a given ring are nodes, then you can deduce which one is the actual transaction. Am I right, or am I missing something?
Ross Ulbricht, the founder of the Silk Road had a vision of creating a marketplace where most everything can be bought and sold with some moral exceptions. He didn't ordered hits on people.
Great as usual Siraj
How are the Siraj's shadow projected onto the screen?
womplestilskin green screen
I'm loving these videos Siraj, really fantastic work. Could you go and make one on Cardano?
dude im so glad I found your channel.. thanks for sharing this knowledge
Hello Siraj, I have the 2000$ of gift cards, how do I add send them to microsoft customer service?
Can criminals really launder money using monero though or is there some inside way of viewing their transactions when large enough?
I started mining monero on miners gate. In my opinion, monero is easier for laptops to mine.
There is a movie on silk road, I think netflix. It was interesting.
Any thoughts about Monero fork - MoneroV?
Great video bro! Thanks! Also thanks for showing that PRIVACY DOES NOT EQUAL things that are illlegal... Have heard that those who are serious about criminal activity prefer diamonds. This is more for a private individual! Question, if a person purchases MONERO on someplace like Binance, would it not be connected that you purchased it from BINANCE. Private after that but a record that you purchased MONERO from Binance?
Excellent presentation!
Hey Siray, can you please tell something about BCN bytecoin...where is deferences Monero Vs Bytecoin
cheers
Hi. You can do overview IdealCash cryptocurrency ?
Good video, but you are referring to Ross Ulbricht. And he never ordered hits on people, or sold drugs. He simply created a bitcoin marketplace, what people decided to sell in the form of goods and services he had no control over.
At first glance a thought that comes to mind is that there could be DOS vulnerability if someone wanted to slow down the network by posing ringCT transactions with no real inputs/output (all blue inputs with no “real” red one) especially since the transaction fees are fixed a motivated bad actor could create a lot of activity (as a portion of the block / whole blockchain capacity) without any real activity at all
What an amazing content, we feel the passion you have for the topic you've chosen, you've worked it, and made it understandable for crypto newbies.
Thanks a lot
Relax Siraj, you're not going to jail. Good guy Siraj!
What happens if 2 seperate people mines same currency without knowing each other?
You are an awesome teacher.
siraj thanks for the video brother....ive been watching this currency for a while...it will rule in the future
could anyone tell Monero mining algorithm is cryptoNight or cryptonightv7?
This was a master piece.. Thank you.
This was a really good lecture. Thank you.
In algo for bitcoin
It says SHA-256 I thought BTC used
SHA-521
Thanks for the explanation. How about a video explaining how ZK-Snarks work?
Barry Gitarts That would be nice. I think ZK-snarks is pretty nice.
If bitcoin is not quantum computer proof or big mining centralization proof those that mean all the crypto currencies that uses blockchain are the same?
The whole banking system is not quantum proof because most cryptography isn't. Bitcoin is really the least of your concerns when it comes to quantum vulnerability. There are quantum resistant algorithms, IOTA uses one, but quantum computers are still quite far in the future.
How do you do my fello non-criminals?
porteal LSD is hell of a drug...
Where was this jupyter notebook stolen from?
Nice video, but using a JavaScript miner isn't a good idea, try XMR-STAK (C/C++) for better performance
Thanks for the suggestion. Can you tell me why this C/C++ miner is more efficient?
JavaScript is a high-level* scripting language, good for writing nice looking web applications, or even some desktop/mobile ones when speed isn't a priority
C/C++ on the other hand are compiled lower lever programming languages, and that means the following: Once compiled , C/C++ code can run directly on the processor (or GPU for that matter), hence leveraging its full raw power, while JavaScript requires other layers of software between it and the processor (Chrome V8 for instance, which is written in C++), that adds latency and wastes a lot of processing power. When it comes to mining, that could be the difference between making revenue or paying in electricity more than you manage to mine
Why does this JavaScript miner exist in the first place you may ask? Simply because websites can embed it on their pages to mine on your device when you visit them: arstechnica.com/information-technology/2017/10/a-surge-of-sites-and-apps-are-exhausting-your-cpu-to-mine-cryptocurrency/
* The higher level you go, the more readable the language is to a human. The lower you go, the closer it is to machine byte-code, i.e. 1s and 0s
Thanks for the break-down :)
you are welcome :)
good idea
Monero is worlds first fungible cryptocurrency. 10,000per monero at the end of 2019.
Is there a website that publishes / writes about new cryptocurrencies?
i will be doing that but also crypto subrredit
Cool! I had searched google and found this site: coinmarketcap.com/new/ and I found this site for new ICOs: icodrops.com/category/upcoming-ico/ but I don't really understand how to invest in any new cryptocurrency from real money. Maybe you could make a video explaining ICOs, how they work and what such a token is worth?
Good lord, you just don't know what you're talking about, there are so many factual errors in this video.
- Digital fiat dollar is absolutely not private.
- Ross Ulbricht was not caught because of tracing Bitcoin transactions.
- Creating a new wallet for each transaction offers no additional privacy. You're thinking of new addresses, and virtually all wallets do this by default (if fact, the protocol is designed with this specifically in mind).
I'm sure there's more but at this point I stopped watching.
You have done just the bare amount of research required to convince a non-technical audience that you know what you are talking about and this is very dangerous.
Eddie Drury in the United States multiple law enforcement agencies have already said they can track down Bitcoin easily. Even if they didn't they could have.
Stefan Woldridge I never said Bitcoin is untraceable, only that this is not why Ulbricht was caught.
-fiat dollar IRL is indeed private i.e exchaging paper currency by hand between 2 people
-yes they did, they tracked the withdrawals arstechnica.com/tech-policy/2016/08/stealing-bitcoins-with-badges-how-silk-roads-dirty-cops-got-caught/
-yes you're correct about this point, i should've said addresses instead of wallets 99bitcoins.com/know-more-using-bitcoin-anonymously/
- Physical cash is private, sure, but in your Venn Diagram you have it under digital as well. Fiat is either digital or private, not both.
- Sure, but this is not why he was caught. Which I grant you don't directly say, but I read it as the implication.
They're *lying.* It's what government does.
Brilliant work, Hashgraph next please bro.
considering thx
9:30 it's not just that (say) Target *mines* your data; it's the inherent risk in a 3rd party having your data at all. Target was attacked by hackers in 2013. 70 million records of personal information were stolen; quite likely yours, if you went to Target...
Can I put Monero coins on a ledger
Love it. 👍 Great job
Scaling strategy !! I wish you great luck Siraj
thank you
Thank you for all your videos!
Do you condone using cash for illegal purposes? :)
Investing in Monero. There are talks about an upcoming Monero fork with airdrop distribution, is this legit? MoneroV is claiming to be the finite version of Monero. Anybody familiar with this??
Do EOS next. Testnet is up and there's only a few people talking about programming in it.