Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Mastering Monero: The future of private transactions [pdf] (2019)

masteringmonero.com

Post reply on HN
Print view View original

101–110 of 176 posts

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#101

Post by mrangle »

lawn wrote: post #75
mrangle wrote: post #69

Investing in a coin for the purpose of privacy is not a good investment. This is because the government has to criminalize every private currency and privatizing method with any significant use. If it hasn't been criminalized yet, it is just because they haven't yet gotten around to it. I'm not saying that one can't hope for privacy. Only that the investment risk is extremely lopsided in this moment. Expect that the…

The biggest issue with cryptocurrencies is that people always seem to only view them as an investment, instead of what usage they may have.

I was using "investment" as a catch-all for both speculation and use. As in one "invests" dollars into BC with either the intent of selling it for cash later, or the intent of eventually using it. See "with any significant use" in my second sentence.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#102

Post by jpmattia »

once_inc wrote: post #10

I feel like Monero is in a tough spot. Not enough network effect to compete with Bitcoin, and new scaling layers like Arc and Lightning actively building out to provide privacy.

I don't know why you're being downvoted, it's an entirely valid observation. And as I type, it's the only comment mentioning lightning as competition.

Moreover, my greater sense is that the nuts and bolts of crypto is not an HN strong suit. It usually brings out religious-type arguments with little sense of balance.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#103

Post by fastball »

kossTKR wrote: post #100
charlie0 wrote: post #90

Earlier quoted context omitted.

Ah yes, let's starts banning books related to it as well. That's always a good idea.

Yes stopping crypto shilling spam that that lies to users is the same as banning books, got it.

Where is the lie?

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#104

Post by user6723 »

forty wrote: post #45
EscapeFromNY wrote: post #19

Monero is perhaps the only cryptocurrency that both works as advertised, and has gathered a self-sustaining userbase. No $20 transaction fees. No influencer pump and dumps. No VCs who need to extract value. No fork drama. No unrealistic roadmap. No charismatic leader boiling the frog with scope creep. It's not trying to be an investment. It's actually private. It's actually anonymous. This is all a lot of us ever wan…

I'm curious, what are people purchasing with it?

I bought a car that was listed on Craigslist with XMR.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#105

Post by EscapeFromNY »

forty wrote: post #84
lordofgibbons wrote: post #67

Earlier quoted context omitted.

The whole point of monero is that it's none of other people's business what I buy with my money.

Sorry maybe my question was not well asked. I don't want to know what you buy, but more generally what can be bought with it.

I pay for a VPN and hosting with it, and a few people I know IRL use it for settling small debts (like Venmo, except nobody is selling your transaction history). I think it's unlikely Monero will ever crack the chicken and egg problem of broad merchant acceptance, but all the same I'm glad something exists for the niche of privacy-oriented services.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#106

Post by landemva »

Eisenstein wrote: post #49
Yizahi wrote: post #35

Earlier quoted context omitted.

Inevitable for law avoidance? Sure. We know quite well that humans like very much systems which allow them to avoid laws of any kind, so of course such a system will survive for a long time. Inevitable for lawful daily usage? Nope. Fundamental problems and lack of benefits will prevent blockchain based ledgers to be deployed in any useful scalable way. Actually not "will" but rather "did". Token proposals had a decad…

> Anything else I've forgot? Going by the claims I have encountered: * Inflation proof/Store of value/Stock market hedge * Bringing banking to the poor * Web3 * Play-and-get-paid gaming

Also, preventing corrupt goverment and court from finding and stealing stored value.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#107

Post by fastball »

Taek wrote: post #85

Going to mention this as a top level comment because a lot of people here seem to believe that Monero is an anonymous cryptocurrency. Unfortunately, techniques to break Monero's anonymity have been known since 2018, and these techniques are effective at breaking essentially any partial-mixing based cryptocurrency. (Monero, Lelantus, CoinJoin, Wasabi, etc). Initial attacks (famously The Flashlight Attack) were capable…

> I never formalized the math

Formalizing the math seems very important to underpin a bold claim such as this one.

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#108

Post by forty »

sosuke wrote: post #96
forty wrote: post #84

Earlier quoted context omitted.

Sorry maybe my question was not well asked. I don't want to know what you buy, but more generally what can be bought with it.

I didn't check the links and the list is from late 2022 but https://monero.observer/101-things-monero-can-buy I did confirm at least one store: 3% discount for BTC and XMR https://shopinbit.com/electronics/tablets-smartphones/tablet...

Thanks! That seems to be a pretty good list (I haven't tried but I did check a bunch of the listed websites and they did say they accept Monero).

I'd still be a bit worried to use it to pay on a website that's not well known, as I assume you don't get disputes if the website doesn't deliver the service after you paid ^^

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#109

Post by lordofgibbons »

Taek wrote: post #85

Going to mention this as a top level comment because a lot of people here seem to believe that Monero is an anonymous cryptocurrency. Unfortunately, techniques to break Monero's anonymity have been known since 2018, and these techniques are effective at breaking essentially any partial-mixing based cryptocurrency. (Monero, Lelantus, CoinJoin, Wasabi, etc). Initial attacks (famously The Flashlight Attack) were capable…

If that's the case, why does the IRS still have a $625k bounty for anyone who can defeat monero's anonymity features?

And why have you not collected your money?

https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs...

Re: Mastering Monero: The future of private transactions [pdf] (2019)

#110

Post by kossTKR »

fastball wrote: post #103
kossTKR wrote: post #100

Earlier quoted context omitted.

Yes stopping crypto shilling spam that that lies to users is the same as banning books, got it.

Where is the lie?

Monero is not private. I remember reading about this in 2018. Extremely dishonest to ignore this. There's even comments here spelling it out. Besides that it's marketingspeak through and through in that post.

https://news.ycombinator.com/item?id=36084467

Post reply on HN