Is Ethereum still worth it?

etherium is moving into proof of stake. i do not know the full of extent of what it means.
so my question is as follows. will it still worth it investing in? will it still even be anonymous?

if not. what other crypto currency would you reccomend?

I recently started using Monero after seeing this techlore video and I don’t know much about which cryptocurrency if it is worth investing money on and I recommend you consult a someone knowledgeable in crypto irl rather than listening to advices from someone on the internet. The only reason I use Monero wherever I can ( instead of credit card/Gpay/Paypal ) is because it’s private and secure and not because I am looking to earn some money.

Ethereum, as Bitcoin, is a trasparent ledger, so it is not anonymous in any way. In fact you can go to etherscan.io, search for your address and see every transaction you have made with that address. It can be pseudo-anonymous, because your addresses are not tied to your personal informations, so you must take the time to learn how to interact with it securely.

Example → let’s say you bought ETH with a centralized KYC exchange like coinbase or binance, then you withdrawn to your wallet (metamask or whatever). The exchange now knows that the address you used for the withdrawal is yours (because your ID is required to open and use an account) and can see every transaction you make on ethereum. This is not anonymous nor pseudonymous and is worse than using a bank account in terms of privacy.

The merge changed only the consensus mechanism, which is how the network agrees on the order of transactions.

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To be clear, not only is it not anonymous now, but it was never anonymous.

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I am not counting on crypto as an investment but rather as another currency.
Monero might be an option. the questions about it are are:
1:is it minable?
2:how cost effective it is?
3:can this be traded for other crypto currency if need be (i am asking because i am aware that Monero is slightly different due to it being more privacy focused)

i am confused. i am aware that crpyto is transparent but @mhouse mentioned.
as long as you don’t purchase it from an exchange that require KYC (as bastardization of the whole concept if you ask me)

the information in the ledger only tracks the coin and the wallet address. with no information in regard to who owns the wallet. isn’t it the definition of anonymity?

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  1. Yes
  2. What do you mean by that?
  3. Yes

The owner of the coins is the address, which is a sort of pseudonym.
When you use these technologies you have to always keep in mind that everything will be public forever. You can use ethereum for 10 years pseudo-anonymously, then make 1 mistake and reveal your identity.

There is also another problem with transparent ledgers: every coin has a history, which implies non-fungibility (yes every ether is an NFT lol).
When you buy coins you can’t be sure they were not used for illicit activities and therefore banned from xyz services.

Monero is a private and fungible cryptocurrency, if you want to make anonymous payments on the internet (or when you can’t use cash) then it’s the best choice.

What do you mean by that?

when you take into account the cost of electricity. is it still worth mining? economically wise?

The owner of the coins is the address, which is a sort of pseudonym.
When you use these technologies you have to always keep in mind that everything will be public forever. You can use ethereum for 10 years pseudo-anonymously, then make 1 mistake and reveal your identity.

fair point

It really depends on your hardware and cost of electricity. Websites for this type of calculations do exist. Unfortunately I can’t raccomend any because I don’t use them.
In general it isn’t very profitable and I belive a modest portion of the total hash rate is from people who just want to support the network.

ok so in this case.
is there any reason why would mining would be better off then just buying monero on localmonero for exemple?

Yeah, it’s the best and easiest way to acquire moneroj anonymously.
If you want to start mining check out p2pool.io

Not rly imo, you’re just overpaying if you mine it yourself

How resource intensive can mining monero be?

what is the minimum requirement for a decent mining device?

You can use the NiceHash Profitability Calculator NiceHash - Leading Cryptocurrency Platform for Mining and Trading it is not 100% accurate but pretty close and a nice starting point if you want a rough estimate.
As long as you enter a CPU it only mines XMR

XMR, remind what that means?

XMR = Monero, I should have kept calling it Monero

as long as you don’t purchase it from an exchange that require KYC

I buy bitcoin from Coinbase. Before I send it to my hardware wallet, I run the bitcoin through Wasabi Wallet in order to break the connection between my bitcoin and Coinbase. If you decide to do this, be sure to read all the documentation first. You have to handle your bitcoin in particular ways to maintain as much anonymity as possible.

Also, look into the Bisq decentralized exchange. It’s a little bit of a pain to set up, but it is a good way to buy bitcoin directly from other bitcoiners without getting the banking system directly involved.

Investment is not my primary reason for buying bitcoin. I do it to support the idea of getting out of fiat currency and the corrupt banking system. If it goes up in price, that’s great. But I’m not planning to sell it, so that really doesn’t matter.
As a fiat-based investment, there don’t seem to be many options, what with inflation, low interest rates and the prospect of a stock market crash. I’ve been investigating buying land (not buildings), and Treasury I bonds, which have a decent, inflation-protected, interest rate.

Judging from what i see here i think i wills tick to buy monero.
Financially speaking i am gonna spend more money on electricity bill mining it. then i would gain from it.

now what i wish to know. is were can i exchange monero for bitcoin without having giving away any personal “KYC” like info.

@wallart1 is it possible to do trough coinbase?

Danwallart1

Anon

8d

I buy bitcoin from Coinbase. Before I send it to my hardware wallet, I run the bitcoin through Wasabi Wallet in order to break the connection between my bitcoin and Coinbase. If you decide to do this, be sure to read all the documentation first. You have to handle your bitcoin in particular ways to maintain as much anonymity as possible.

You had mentioned wasabi wallet, your hardware wallet (whatever which one that will be) and Coinbase. The documentation of which one should i read?

I suggest you to stay away from wasabi, use samourai instead. From this topic:

Use localmonero or agoradesk, I think you can find the techlore’s affiliate link on this page

I was thinking of Wasabi wallet when I wrote that. But read everything about anything you are using, and then double it.