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Monero [XMR]’s Riccardo says that he chose Monero because it is not based on the Bitcoin code

Ajay Narayan



Monero [XMR]'s Riccardo says that he chose Monero because it is not based on the Bitcoin code
Source: Unsplash

On a recent episode of Whatbitcoindid, Riccardo Spagni, a core team member of Monero, spoke about the privacy aspect of Monero. The interview covered a wide range of topics which included the importance of privacy and the similarities between Bitcoin [BTC] and Monero [XMR].

Riccardo spoke about his decision to choose Monero. He stated that one of the main factors which drove him towards Monero was that it is not based on the Bitcoin code. He said that this alone was the reason for him to give Monero a “second look”. He said:

“Simply cloning Bitcoin or forking Bitcoin generally leads to things that are not terribly interesting. You are taking a foundation that is solid, that has nearly a decade of proven history and you are fudging around with the incentives, you are slapping some lipstick on a pig or adding functionality that doesn’t create certain incentives and that to me is not interesting.”

He further said that Monero was “new” even though its code base was not a “very mature code”. Riccardo also said that the privacy aspect of Monero was another important reason for choosing Monero. He stated that Monero was doing “something concrete” for privacy and has pushed the privacy barrier ahead.

He also spoke about a part of the Bitcoin maximalists community frowning upon all the altcoins, which they refer to as shitcoins, except for Monero. Riccardo stated that this is because everyone who got involved with Monero and Bitcoin in the initial period had to face similar problems. He further added:

“…at the beginning we didn’t get anything handed to us on a platter, we didn’t get a slick mobile wallet that someone else had written that we could fork and change the name and change the logo and go, hey! look we made a Monero mobile wallet. Everything had to be done from scratch”

Riccardo stated:

“when I first started using Bitcoin, the experience was certainly not smooth. The wallet looked like it was something out of Windows 95”

According to Spagni, individuals who were earlier involved with Monero had to deal with CPU mining, a command-line wallet, and the entire database was stored in four to five gigabytes of RAM for the first six months. Riccardo said:

“all of the nasty stuff that we had to deal with at the beginning, Bitcoin will find familiar with or atleast Bitcoin maximalist are familiar because they understand that that’s the stuff  Bitcoin is had to go through at the beginning”

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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.


John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more





John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!

4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!

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