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

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

#111

Post by saesdev »

kossTKR wrote: post #74
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…

[flagged]

If anything, people have more to gain by being anti-monero than advertising for it. It's a stable asset, never goes up in price, hardly will make you a profit, so it is made for pure usage and protecting your freedoms

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

#112

Post by __alexs »

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.

Drugs. The answer is drugs.

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

#113

Post by m348e912 »

ur-whale wrote: post #41
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…

> No charismatic leader boiling the frog with scope creep. LOL > It's actually private. It's actually anonymous. This is all a lot of us ever wanted from a cryptocurrency. Yes indeed. I sometimes daydream Satoshi knew about ZKP's early enough to integrate it into Bitcoin ... we would have had the perfect storm. > No $20 transaction fees. This one isn't a structural guarantee of Monero, but rather a side-effects of be…

>Yes indeed. I sometimes daydream Satoshi knew about ZKP's early enough to integrate it into Bitcoin ... we would have had the perfect storm.

Can't read SN's mind but I don't know if transactional privacy was a priority for him when developing bitcoin. One of the downsides of Monero's anonymity was that it quickly became a target of censorship so large exchanges like coinbase don't offer it anymore.

Before transaction fees increased, Bitcoin had a capability of enjoying a pretty good mixing feature that is now only practical with similar but lower fee proof of work cryptos.

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

#114

Post by __alexs »

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…

PoC||GTFO

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

#115

Post by saesdev »

diegoholiveira wrote: post #13
helsinki wrote: post #6

Monero is the only crypto I hold, really.

Why? Asking because I know nothing about crypto yet.

to me it's because I see how it's properties are valued by the markets it is transacted in, giving me enough safety that I can find a p2p seller to acquire some Monero without being identified (no-KYC), which then I do not risk being part of data leaks and becoming a target of attacks, and I am able to move some funds to a cold storage, which means funds I don't need to touch or connect its keys the internet, as I know in months or years from now I'll still be able to transact those as I need them, as it retains its properties and all coins are always interchangeable no matter where they come from (https://en.wikipedia.org/wiki/Fungibility)

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

#117

Post by tromp »

ur-whale wrote: post #66
capableweb wrote: post #21

Earlier quoted context omitted.

I think Bitcoin is awesome because unlike cash, digital transfers are built into the system. Now, just like cash wasn't built with digital transfers in mind, neither was Bitcoin built with anonymity in mind, so not sure why Monero would be better/worse than Bitcoin for a thing Bitcoin was never made for in the first place. The purpose of Bitcoin was never that all transactions were anonymous. Monero is great for this…

The feature set of Monero is strictly larger than Bitcoin's. In other words: everything you can do with Bitcoin can be done with Monero while the converse isn't true. Strikes me as a pretty decent definition of "Better". (unless of course, you consider the lack of anonymity a "feature". I'd bet most people don't unless they work in law enforcement or for the IRS).

Monero just makes different trade-offs than Bitcoin [1]...

[1] https://phyro.github.io/grinvestigation/why_grin.html

It's missing several of Bitcoin's features, such as an identifiable UTXO set, relative time locks, a fully auditable supply, instantly verifiable PoW...

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

#118

Post by anonym29 »

seligerasmus wrote: post #87
ur-whale wrote: post #47

Earlier quoted context omitted.

[flagged]

>Why would it be any different for Monero This response does not make much sense: how do you pay for cars, groceries, condoms with Monero? With fiat, you use some centralized banking instrument like cash, credit, debit, or whatever. Reconciling how that purchase experience is identical with Monero (but is somehow an anonymous, decentralized transaction) might require slightly more explanation to distinguish it from y…

It's a stretch to call FIAT "money", let alone "hard money". The US dollar has lost >97% of it's value just since the inception of the Federal Reserve in 1913... and that's widely viewed as one of the strongest FIAT currencies in the world. The only stronger FIAT currency that immediately comes to mind for me is the Swiss Franc (CHF).

In places like Venezuela, doctors and lawyers spend their days playing Runescape and World of Warcraft, because thlse fictional, virtual currencies are more stable than their real state-backed FIAT currency, and because they can earn more real-world currency by exchanging ingame currency for it than they can as doctors and lawyers in their "equitable" economic system of socialism.

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

#119

Post by dmbche »

roenxi wrote: post #98
forty wrote: post #45

Earlier quoted context omitted.

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

If you look for purchasable things there isn't much. But the current US president is effectively identifying some of his political opponents as traitors [0]. it isn't that clear which exact opponents he is referring to (does it include Trump, who was a slim margin from being the US president?). We've seen bank account freezes deployed against that truck protest in Canada too and it isn't obvious why any of us have a…

Separately from the rest of your comment, I think you should look into how crypto was used in the trucker situation - it did not work at all, iirc a lot of money just vanished

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

#120

Post by themikesanto »

__alexs wrote: post #112
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.

Drugs. The answer is drugs.

Do you know which other payment methods people use to buy drugs? All of them.
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