Don’t Buy Monero
Created in 2012 Bytecoin was written using the Cryptonote algorithm; utilizing an entirely different codebase than Bitcoin’s. An early attempt at creating an opaque cryptocurrency Bytecoin utilized “ring signatures” to obscure transactions. However, it was a bit of a scam. When users learned 80% of the coins to be mined already existed miners, the backbone of any cryptocurrency, began to flee. What followed was the creation of Monero.
Born of the frustrated Bytecoin community seven developers began working on a fungible digital currency that didn’t require public ledger. Launched in 2014 Monero brought credibility to CryptoNote coins with it’s fair-distribution; lacking a pre-mine. Privacy it’s primary mission, Monero is considered by many the ‘Swiss bank account of crypto’.
With Monero’s development came a lively community of users and a never ending onslaught of inside jokes. Little known memes found in Freenode chat rooms, Telegrams, and subreddits. Attracting both hackers and investors the cryptocurrency is one of the spheres most colorful. Giving birth to forks of its own. Forks such as the meme coin Wownero.
A personal favorite, and community participant, I decided to memorialize a bit of Monero’s history, better-known memes, and culture.