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Why Monero

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Re: Why Monero

#11

Post by paulryanrogers »

stavros wrote: post #6
paulryanrogers wrote: post #3

Earlier quoted context omitted.

My fear with strongly anonymous DeFi is indirectly harming the environment and supporting crime. Sadly doesn't look like Monero resolve these concerns.

I don't know how it could resolve the "supporting crime" concern, really. When something is anonymous/private, it's going to be used for things you don't like. It's then all about whether you think the tradeoff is worth it. Personally, I think it is, but I understand how others can have different viewpoints. I think the logical conclusion if you take the opposite stance is that you're against anonymity and/or privacy…

TBH I'm against strong anonymity when it comes to money. Seems like it can amplify harm more than other areas like speech or association.

Re: Why Monero

#12

Post by cinntaile »

stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

> and it hasn't been as full of cultists as some of the other coins I've seen.

Didn't they have a Church of Monero a few years back? That was kind of... weird? It was probably started as a joke or something, I can't remember.

Re: Why Monero

#13

Post by stavros »

paulryanrogers wrote: post #11
stavros wrote: post #6

Earlier quoted context omitted.

I don't know how it could resolve the "supporting crime" concern, really. When something is anonymous/private, it's going to be used for things you don't like. It's then all about whether you think the tradeoff is worth it. Personally, I think it is, but I understand how others can have different viewpoints. I think the logical conclusion if you take the opposite stance is that you're against anonymity and/or privacy…

TBH I'm against strong anonymity when it comes to money. Seems like it can amplify harm more than other areas like speech or association.

True. The issue I have is that anonymity exists, it's just expensive, so only rich people have it. This makes the choice from "financial privacy or no financial privacy" to "financial privacy for the rich or for everyone".

Re: Why Monero

#14

Post by paulryanrogers »

randomhodler84 wrote: post #5
paulryanrogers wrote: post #3

Earlier quoted context omitted.

My fear with strongly anonymous DeFi is indirectly harming the environment and supporting crime. Sadly doesn't look like Monero resolve these concerns.

Ultimately, you just have to let go. Every possible action you take in your life could be taken advantage by criminals. Do you want to let that restrict you ability to lead your life? I don’t.

Indeed it is a trade-off. And leaks revealing the dirty tricks of the rich and powerful make me wonder how effective KYC and similar controls are in practice. Yet it's that very visibility that motives people to act.

So perhaps the ideal is a sliding scale. The more powerful you are then the less anonymity/privacy you should be allowed, at least in financial or political matters.

Re: Why Monero

#15

Post by joe_the_user »

stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes,

They're get-rich-quick schemes plus money laundering/capital-flight mechanisms. And if you think capital flight is more ethical than a get-rich-quick scheme, I'd like to introduce you to X oligarch on Y continent committing Z poorly publicized genocide.

Edit: that said, the way that they facilitate dubious money transfer is pretty what makes them likely to stick around and so one can say with more certainty their value will be maintained. Hope that makes you feel better.

Re: Why Monero

#16

Post by ahnick »

I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.

Re: Why Monero

#17

Post by webwielder2 »

How do I get some monero? I've only ever bought crypto with the consumer-level apps and know nothing about mining. (Original article isn't loading, in case it has any info in there)

Re: Why Monero

#18

Post by delaaxe »

stavros wrote: post #2

I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…

I really want to like Monero but I've had one of the worst crypto experience using the official desktop client.

The app crashes randomly, hangs, and worst of all, refuses to send transactions using a hardware wallet when running as a full node.

The hardware wallet is only able to sign transactions when connected to a remote node, which is much worse privacy wise.

Monero needs much more developers & funding to succeed.

Re: Why Monero

#19

Post by I_cape_runts »

ahnick wrote: post #16

I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.

Zcash has to have privacy enabled by the user. It’s not automatically private. Monero is automatically private.

Re: Why Monero

#20

Post by teawrecks »

Monero sounds great as a starting point since it can theoretically mimic an in-person cash exchange as far as anonymity is concerned. But to encourage adoption we need to be able to do more than that. Is it possible to design a "chargeback" mechanism on top of monero? What if I want the ability to allow an intermediary to arbitrate a dispute between me and the other party?
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