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

Why Monero

benkaiser.dev

Post reply on HN
Print view View original

31–40 of 394 posts

Re: Why Monero

#31

Post by colordrops »

wheresmycraisin wrote: post #25

I've tried using Monero because of it's supposed privacy features, and found that the official desktop gui clients is completely unusable. I'm not just talking usability and design issues -- I'm talking random crashes and freezes, if it manages to launch at all. When I brought these issues to the dev team, I was basically told to fuck off.

I tried mining, tried buying, and tried various wallets, and I couldn't get any of them to work. And I'm a highly paid software engineer with decades of experience.

Re: Why Monero

#32

Post by tylercubell »

cosmotic wrote: post #8

Still has 21 minute transaction time: https://www.monero.how/how-long-do-monero-transactions-take

In contrast, "Algorand delivers the fastest finality possible thanks to its Pure Proof of Stake (PPoS) algorithm invented by MIT Professor Silvio Micali. The consensus mechanism doesn’t admit forks at all, which reduces the risk of micro forks to zero. The block creation time on Algorand is less than 5 seconds, and all transactions reach immediate finality." [0]

And although Algorand doesn't include some of the more "controversial" privacy features, it's still RTBF-compliant. [1]

[0]: https://www.algorand.com/resources/blog/role-of-transaction-...

[1]: https://www.algorand.com/resources/blog/right-to-be-forgotte...

Re: Why Monero

#33

Post by paulryanrogers »

delaaxe wrote: post #22
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.

That's like being worried about using the Internet in 1995 because of indirectly supporting porn. Remember, the Internet is only useful for porn and cat pictures, right?

Financial regulations mitigating crime predate the Internet.

Re: Why Monero

#34

Post by galangalalgol »

henriquez wrote: post #10
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've played around trading other currencies but Monero is the one I hold dear for the end times. Plus it's fun to mine, you can do it on a CPU instead of needing a massive GPU swarm.

Is the algorithm poorly suited to GPUs or fpgas, or are we just not to that point yet? Proof of stake seems like a good thing.

Re: Why Monero

#37

Post by chizhik-pyzhik »

teawrecks wrote: post #20

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?

Finality is usually considered a feature of blockchains, not a bug. Chargebacks work on networks like Visa and Mastercard because we trust the network (visa) to step in arbitrate disagreements, but there's no central actor here.

Re: Why Monero

#38

Post by easrng »

teawrecks wrote: post #20

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?

>What if I want the ability to allow an intermediary to arbitrate a dispute between me and the other party?

Use a 2-of-3 multisig for dispute resolution.

Re: Why Monero

#39

Post by stavros »

galangalalgol wrote: post #34
henriquez wrote: post #10

Earlier quoted context omitted.

I've played around trading other currencies but Monero is the one I hold dear for the end times. Plus it's fun to mine, you can do it on a CPU instead of needing a massive GPU swarm.

Is the algorithm poorly suited to GPUs or fpgas, or are we just not to that point yet? Proof of stake seems like a good thing.

They purposely design/change it so it's poorly suited to GPUs/FPGAs.

Re: Why Monero

#40

Post by stiltzkin »

wheresmycraisin wrote: post #25

I've tried using Monero because of it's supposed privacy features, and found that the official desktop gui clients is completely unusable. I'm not just talking usability and design issues -- I'm talking random crashes and freezes, if it manages to launch at all. When I brought these issues to the dev team, I was basically told to fuck off.

I had different experience with the GUI client, but you can use CLI or other wallet as Cake Wallet.
Post reply on HN