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Why Monero

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Re: Why Monero

#101

Post by ryan_lane »

0xdeadb00f wrote: post #66
cowpig wrote: post #57

How can anyone think this is a good thing? At least other crypto projects have a degree of transparency going for them. I don't understand how people can possibly think that identity obfuscation at scale is a good thing for a financial system. The rule of law and democracy are far from perfect, but it is unquestionably the safest, cushiest time to be alive in human history right now for the average human being. Let's…

You know what else is similarly opaque, hard to trace, anonymous and still legal tender? Cash.

You need to physically transfer cash, and this is why it's difficult to use for things like ransom.

You know what makes it really easy to ransom a hospital during a pandemic? Monero. You know what makes it easy to ransom a school, leaking personal information of children in the process? Monero.

Re: Why Monero

#102

Post by ryan_lane »

ajkdhcb2 wrote: post #93
cowpig wrote: post #57

How can anyone think this is a good thing? At least other crypto projects have a degree of transparency going for them. I don't understand how people can possibly think that identity obfuscation at scale is a good thing for a financial system. The rule of law and democracy are far from perfect, but it is unquestionably the safest, cushiest time to be alive in human history right now for the average human being. Let's…

It is not safe to use Bitcoin and other traceable cryptocurrencies. I for one don't want to be tortured with a drill and there is a long list of such events: https://github.com/jlopp/physical-bitcoin-attacks Some people say the same things about encryption, but it is a very accurate parallel that it actually makes society safer, and the technology can't be taken from "criminals" so you just have to deal with its exis…

Use a bank account, then?

Re: Why Monero

#103

Post by sealaska »

scoofy wrote: post #50

When you develop a value exchange that is perfectly designed for facilitating human kidnappings and subverting international sanctions, you should not be surprised when other humans decide they value institutions over this level of personal privacy. The narrative that this type of value exchange will protect people is as easily argued that it will put others at risk. We have institutions for a reason, and nobody livi…

Well, paper money is also used for crime. In fact, illegal uses of paper currency are so common, U.S. authorities commonly seize cash from civilians deemed to be carrying too much of it!

In light of this - I think it's rational to remove paper currency from circulation and to move to a digital system where every transaction is tracked to a real person. This could be as simple as using existing banking structures, or maybe some sort of cryptographically-secure, immutable ledger of some sort, tying every transaction back to a real person. Almost like a centralized, managed "block chain".

/s

Re: Why Monero

#104

Post by oliv__ »

scoofy wrote: post #50

When you develop a value exchange that is perfectly designed for facilitating human kidnappings and subverting international sanctions, you should not be surprised when other humans decide they value institutions over this level of personal privacy. The narrative that this type of value exchange will protect people is as easily argued that it will put others at risk. We have institutions for a reason, and nobody livi…

Human kidnappings and subverting international sanctions account for what? 0.0001% of all transactions?

So you're saying 99.9% of the population shouldn't benefit from this because there will be a tiny percentage misusing it?

I take it you're against privacy, encryption and gun ownership too then right?

Re: Why Monero

#105

Post by kongin »

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…

The lack of cultists is the only reason why I'm even reading these articles.

Now if only they could stabilize the price so you can pay for things instead of gamble on it.

Re: Why Monero

#106

Post by Groxx »

hamburgerwah wrote: post #7

For those that may not be familiar, the relatively strong anonymity on Monero is via a cryptographic mechanism known as "ring signatures". Separate from cryptocurrency they are a useful cryptographic technique for many things: https://en.wikipedia.org/wiki/Ring_signature

I haven't read much on monero / this algorithm, so I'm not sure if it's particularly meaningful, but wikipeda references that being the case for most of 2017-2018 and then the algorithm was changed.

Re: Why Monero

#107

Post by InvertedRhodium »

ryan_lane wrote: post #102
ajkdhcb2 wrote: post #93

Earlier quoted context omitted.

It is not safe to use Bitcoin and other traceable cryptocurrencies. I for one don't want to be tortured with a drill and there is a long list of such events: https://github.com/jlopp/physical-bitcoin-attacks Some people say the same things about encryption, but it is a very accurate parallel that it actually makes society safer, and the technology can't be taken from "criminals" so you just have to deal with its exis…

Use a bank account, then?

Why would I when there are methods that afford me more privacy? For example, Monero.

Re: Why Monero

#108

Post by kongin »

cowpig wrote: post #57

How can anyone think this is a good thing? At least other crypto projects have a degree of transparency going for them. I don't understand how people can possibly think that identity obfuscation at scale is a good thing for a financial system. The rule of law and democracy are far from perfect, but it is unquestionably the safest, cushiest time to be alive in human history right now for the average human being. Let's…

>This is a blindness that can only come from a lifetime of extreme privilege.

The system is already that for everyone rich enough.

I just want to have the same privilege as the Clintons and Trumps when it comes to ~~bribes~~ voluntary contributions.

Re: Why Monero

#109

Post by minsc__and__boo »

ianmiers wrote: post #80
cowpig wrote: post #57

How can anyone think this is a good thing? At least other crypto projects have a degree of transparency going for them. I don't understand how people can possibly think that identity obfuscation at scale is a good thing for a financial system. The rule of law and democracy are far from perfect, but it is unquestionably the safest, cushiest time to be alive in human history right now for the average human being. Let's…

Because Bitcoin is twitter for your bank account. It exposes everything you do to anyone who can download the blockchain. You can argue that some gov/regulator should have access, though good luck finding one country everyone trusts. More realistically, and practically, you could require that, as many jurisdictions do with cash, we should have reporting requirements for when a merchant sells something for large amoun…

Right?

The whole "I don't understand how people can possibly think that identity obfuscation at scale is a good thing for a financial system" can be answered by, "Will you share your entire transaction history and account balances with the entire world? Why not?"

Re: Why Monero

#110

Post by Karrot_Kream »

paulryanrogers wrote: post #72
Karrot_Kream wrote: post #64

Earlier quoted context omitted.

There's lots of things that an order of magnitude more folks do that harm the environment than DeFi/cryptocurrency/shitcoin gambling. I'd love to revisit the environmental impacts of cryptocurrency after we've moved to electric cars, decreased car usage, decreased HVAC waste, made our toilets/sinks/showers more efficient, made our factories run on hydrogen instead of coal, and clean up shipping emissions. Once we're…

That's one approach. Another is to tackle low hanging fruit. What is lost if DeFi were more heavily regulated or outlawed? What is lost if shipping were more more heavily regulated / outlawed? Ultimately we have to do many things, and solutions aren't mutually exclusive.

> What is lost if DeFi were more heavily regulated or outlawed? What is lost if shipping were more more heavily regulated / outlawed?

Getting people to agree on "low-hanging fruit" is very difficult. Even on here you'll see people that are fine with using energy on crypto. It'll be an even taller order convincing folks that shipping should be outlawed or tightly restricted, especially folks living in rural car-dominated areas of Anglo countries. Then you'll have to mount a new fight to convince people to heavily restrict the bath and restrict shower usage. Oh and keeping your lights on all night. Then start a campaign to restrict running the AC. There will undoubtedly be folks who'll try specifically to find holes in restrictions as well, such as buying a propane stove on areas where gas stoves are banned, then you'll need to amend all of these restrictions and burn ever more political capital.

Much simpler to tax energy based on emissions. If that means PoW crypto will never be profitable, then they can pound sand. That way you also won't have lobby groups grandfather weird exceptions on restrictions to preserve their precious market.

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