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Why Monero

benkaiser.dev

391–394 of 394 posts

Re: Why Monero

#391
post #388

Earlier quoted context omitted.

> As I've said repeatedly, it's different because staking means that the same people control both the current coin supply and the means of creating new ones. This is the first time you are saying that, and you aren't explaining how that is relevant to PoS oligopolies. What was said by me and by rtkwe, on this matter, is that due to this characteristic of PoS coins the only way, we can think of (you've ignored both of…

> a staking oligopoly can remain oligopoly is by controlling the majority of coins and not selling those coins which in effect means that a PoS oligopolies don't make any money from being oligopolies. In fact maintaining a staking oligopoly would destroy all the money that was invested in creating it. Eh, maybe. I think there's a lot of middle ground between selling freely/anonymously to anyone and not selling at all…

> I think/hope that would destroy whatever coin that was, and far more quickly, because there's no way to be subtle about that one - everyone can see blocks being broadcast and ignored.

This also applies to staking oligopolies. Either all the coins are owned by the oligopoly rendering them valueless or they need to ignore blocks from others. Again, it seems that staking oligopolies are "better" than mining ones.

> Whereas if every time an outsider tries to buy some coins, their name didn't quite match for KYC and they need to resubmit their documents, or someone else bought them first, or the exchange suddenly needs to freeze all transactions to investigate an issue, you can maintain the illusion of an active market for quite some time.

This assumes that the exchanges are the oligopoly and ignores that the coins that the vast majority of coins that exchanges stake are owned by someone else and can be pulled. And no, if you freeze all transactions for whatever reason you can't maintain the illusion of an active market for quite some time.

Re: Why Monero

#392
post #164

Earlier quoted context omitted.

Changed to bulletproof https://eprint.iacr.org/2017/1066

The Wikipedia article is incorrect, Monero still uses ring signatures. Bulletproofs are used as efficient range proofs in RingCT to hide the amount in transactions. https://www.getmonero.org/2017/12/07/Monero-Compatible-Bulle...

Honestly, comments like this are why I stick with hacker news.

Thank you! There's a lot of difficult-to-google info locked up in comments like this, and I truly appreciate the effort spent replying to randos like me :)

Re: Why Monero

#393
post #71

Earlier quoted context omitted.

you kind of proved my point. kidnappers already use cash, and changing that to different mechanism isn't going to increase or decrease the amount of crime. You haven't explained any reason why digital anonymous currency will increase crime or make it harder to catch them. Evil people use neutral tools for evil purposes. They have been since the beginning of tools. So stop trying to slow the advance of technology just…

I'm not against blockchain technology. I'm against creating a systematically anonymous blockchain. Identity and reputation in value exchanges matter in society, both legally and philosophically. Monero seems much better suited as a weapon against real totalitarian regimes. If it is illegal in both a free and unfree society, then it will only have a practical purpose in the unfree society, whereas the free society wil…

If it's illegal in free society, it'll have use there too, as an alternative financial system for those kicked off traditional platforms.

Re: Why Monero

#394
post #388

Earlier quoted context omitted.

> a staking oligopoly can remain oligopoly is by controlling the majority of coins and not selling those coins which in effect means that a PoS oligopolies don't make any money from being oligopolies. In fact maintaining a staking oligopoly would destroy all the money that was invested in creating it. Eh, maybe. I think there's a lot of middle ground between selling freely/anonymously to anyone and not selling at all…

> I think/hope that would destroy whatever coin that was, and far more quickly, because there's no way to be subtle about that one - everyone can see blocks being broadcast and ignored. This also applies to staking oligopolies. Either all the coins are owned by the oligopoly rendering them valueless or they need to ignore blocks from others. Again, it seems that staking oligopolies are "better" than mining ones. > Wh…

You don't have to freeze all transactions, just the ones being made by outsiders. Who would know, or care? Just make sure the subreddit mod is an insider, toss a few coins to any of the crypto press (who are all on the take) and you're good.
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