121–130 of 176 posts
What's considered better these days: Monero or Zcash, and why?
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 hate to burst the bubble but strategies to break Monero's anonymity have been known since 2019. It turns out that the general strategy of mixing a subset of outputs together is insufficient to provide robust privacy, even if the mix set is large (like in Lelantus). The only strategies that can provide strong anonymity for on-chain crypto are full anonymity set currencies like Zcash.
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…
People don’t want private transactions. All they want is those pumps and unrealistic roadmaps and charismatic leaders and investment promises. They want to dream of massive financial success, not to pay for coffee anonymously through a clunky UI.
Crypto content on HN... this is either gonna go really great or the opposite of that.
Yup. It's always felt like there's a disproportionate amount of hate for crypto -- not that people should like it or love it, but that I'm surprised that tech people here don't appear to understand its inevitability. So it seems like they treat it as something to be killed (impossible) as opposed to something to buckle up and get ready to manage (more or less like they correctly do with AI.)
crypto's new paradigm is always just around the corner.
i've been involved in cc for long enough to know that it's popularity (and price) are not driven by utility.
as vb said, it's the linux of money.
> step 1: install gentoo
> step 2: install xmr wallet
Earlier quoted context omitted.
>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 an…
That's over a 100 years ago. I can easily see bitcoin lose much of its value in about 4 decades when the block subsidy is negligible and it relies almost exclusively on transaction fees for security.
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 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.
Earlier quoted context omitted.
>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 an…
Yeah, that’s the result of placing function as medium of exchange nd unit of account over function as a store of value, as a deliberate measure to both facilitate exchange and encourage investment outside of the money in productive assets.
Also why, while Bitcoin might arguably be a decent investment if you can take the volatility (note that I am not saying that it is, either), its crappy money compared to major world currencies.
Earlier quoted context omitted.
Not daily and I think that's the thing. I suppose when one says "cryptocurrency," there are a lot of possible ways one might use it. I agree that for a daily driver, very unlikely. But "store of value" is still very much in play. Crypto as a competitor to the 401k or "money in the mattress" strikes me as damn near inevitable.
There's no way in hell you could convince me to invest in anything as volatile as a pile of crypto coin for my retirement. My retirement account is for slow, gentle, growth, not for a rollercoaster that could end up at zero (within the realm of reasonability - yes, the entire stock market could disappear, but at that point we're not retiring, we're firing up the pursuit special and heading into the desert). This is w…
Putting a lot in a retirement account today is of course less dumb than putting a lot in crypto.
But neither is guaranteed or certain; and quite a few people diversify their portfolios.
Today, I'd say you're an idiot if you do a lot of crypto -- but also, you're not too bright if you don't throw in a little.
As for tomorrow, who knows. The technology of crypto definitely works. The humans might also decide that this is worth something, or they might not.
Earlier quoted context omitted.
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 an…
> The US dollar has lost >97% of it's value just since the inception of the Federal Reserve in 1913 That's over a 100 years ago. I can easily see bitcoin lose much of its value in about 4 decades when the block subsidy is negligible and it relies almost exclusively on transaction fees for security.
I actually agree with this, and that's one reason I, too, prefer Monero - the tail emissions + tx fees are more economically sustainable than tx fees alone.