Why Monero is better than bitcoin

Monero is one of the most popular crypto-currencies on the market. It is currently valued around 210 dollars and has been the subject of recent hype, including John McAfee claiming that monero will beat out bitcoin as the future of the internet. How has a  minor crypto-currency generated so much buzz and why do so many people swear by it?

Monero is often listed as one of the most secure crypto-currencies and is considered vastly more secure than bitcoin thanks to "ring signatures." Ring signatures are a type of digital signature that can be performed by any member of a group of users that each have key. This means that it is not possible for someone to tell who sent the payment, who it was sent to and how much the payment actually was. Meanwhile, bitcoin is only pseudo-anonymous and the ledger contains all amounts and address, even though the bitcoin wallet ideas are somewhat anonymous.

Monero also has much lower payment fees. While at its peak during late 2017 bitcoin transaction fees were reaching 20.00 dollars, monero averages to about 2.00 dollars. This is because Monero has adaptive block sizes which, unlike bitcoins block sizes, enable to the transaction fees to remain much more managable.

Monero also has the advantage of the advantage when it comes to mining. Bitcoin has notoriously become so specialized when it comes to mining that only major investors or corporations can blow the thousands of dollars on the specialized mining rigs. And while you may not become incredibly rich from mining monero, you can make your first forays into the coin while making decent progress with your home computer.

Most importantly, with Monero's massive security advantage over bitcoin, it is increasingly being used in the dark web. Experts expect that more and more of the gray and black markets will adopt Monero as their default currency and as they do the currency will increase in value and receive coverage, for good or bad. As an Agorist I would look forward to the markets becoming increasingly resilient to drug war interference.