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Purism Collaborates with Cryptocurrency Monero to Enable Mobile Payments
- Casseres 9y agoI'm glad I supported the Librem 5 fundraiser. At first Purism seemed to be gimmicky (a few hardware switchs, big deal), but then they continued to take privacy more seriously by supporting coreboot, accepting Monero as payment, and now this. That's a great write-up about Monero towards the end. The dev is right about Monero's usability being a pain point right now, but with more adoption of services that value privacy, there will be more interest in creating user-friendly ways to use Monero. I can't wait to get my Librem 5.
- crasch4 9y agoExcellent news! Purism gets it. Time to start taking back our privacy.
- Alghero 9y agoGosh, I love Purism. Todd Weaver is such a wholesome guy and really concerned about people's privacy.
- X86BSD 9y agoThank god, finally, someone embraces the most secure, anonymous coin out there. WHY people throng to bitcoin ill never know.
- XR0CSWV3h3kZWg 9y agoNetwork effect/first mover is extremely important.
- X86BSD 9y agoVery true.
- wyager 9y agoMonero’s mild technological advantages in some areas don’t clearly outweigh the other advantages of using Bitcoin.
- generalizethis 9y agoIt isn't really a rating of mild/hot/atomic advantages, it's one offers fungibility and privacy and the other is a public ledger--they have vastly different design goals that will separate them more and more over time.
- wyldfire 9y agoMonero is super great but would have trouble scaling to bitcoin levels of transactions. I hope they continue to develop it as people begin to consider it more.
- hossbeast 9y agoTo be fair Bitcoin is also having trouble with this
- Casseres 9y agoHow so? The blocksize and fees automatically adjust. The blockchain will get bigger, but as I understand it, there are some theoretical ways to trim some of it. Supposedly trimming isn't a big priority because the theory is that storage capabilities will grow along with the blockchain.
- Bromskloss 9y agoAre you referring to some technological advantages of Bitcoin, or the fact that it is more widespread?
- rhn_mk1 9y agoI don't know much about Monero, but, remembering the lessons from Bitcoin, is it actually feasible to use it on a phone? - Is running a full node possible on the limited hardware or would the client need to connected to some external server? - How frequent transactions can Monero support? Bitcon blocks are filling up, resulting in high fees.
- Casseres 9y agoIt's feasible to use a light wallet on your phone (connect to an external server). There is already an Android app that does this: monerujo Monero's blocks automatically scale, and transaction fees decrease as more transactions occur.
- blueprint 9y agoFwiw, as far as I'm aware, monerujo is not actually a "light wallet" because it still must download the transaction outputs set from a remote node and then do the computations to scan for your outputs (with your view key), then cache those. Basically what monero-cli or monero-gui does. I've been asking around the community and we seem to agree to some degree it's more apt to refer to it as a full wallet or some such. Disclosure: partner and lead dev for mymonero
- coinme 9y agoI’m a fan of monero, but transaction fees do not decrease as more transactions occur. There are limits to how big the blocks can grow, and also how quickly they respond to demand, and at the end of the day the transaction price will go up as demand increases.
- eosophos 9y agoWhat are the limits to how big the blocks can grow?
- gingeropolous 9y ago> but transaction fees do not decrease as more transactions occur. Yes, it does. The transaction fee is a dynamic fee based on the block size. As the block size increases, the transaction fee decreases. The theory being that an increased blocksize means there's increased demand for Monero, which implies that the value of Monero has increased, so the transaction fee should decrease. https://github.com/monero-project/monero/blob/4a20a5b5ea4adc47e65d9148e39dadf666e48e07/src/cryptonote_core/blockchain.cpp#L2863 https://github.com/monero-project/monero/blob/4a20a5b5ea4adc... https://monero.stackexchange.com/questions/2531/how-does-the-dynamic-fee-calculation-work https://monero.stackexchange.com/questions/2531/how-does-the... > There are limits to how big the blocks can grow Perhaps. But they are not hardcoded. The limits are based on the network infrastructure (lag, node calculation speeds). Basically, the blocks will grow until orphaning becomes a serious problem. > and also how quickly they respond to demand, This is in, in fact, the only hard coded limit of the things you mentioned.
- ecesena 9y agoInteresting. Does anybody know why Monero vs ZCash?
- curtisgiddings 9y agoThe Monero blockchain didn't require the trusted setup that ZCash did.
- Casseres 9y agoMonero is private by default which makes it fungible. You won't stand out by choosing to make a transaction private on an otherwise public coin. And there is no company which runs it and takes a 10% cut of all coins that will ever be mined. To me, Monero seems more like an open, decentralized, community project than Zcash.
- codys 9y agoedit: I just found a paper [1] which talks about this issue and a potential solution. Monero certainly has lots of things that make me excited about it, but it seems there is a downside: To recieve a payment, 'A' must tell the sender ('B') A's recieve address. Now, this recieve address is never encoded in the block chain, but it is known to everyone who sends 'A' coins. If 'B' and others who know 'A's recieve address keep track of it and the coins they send, some privacy is not preserved. Bitcoin & many other crypto curencies "solve" this to some extent by using Hierarchical Deterministic wallets ("HD wallets") were a single secret plus a deterministic "count" is used to generate multiple "accounts", each with it's own receive address. The problem is that it isn't clear to me Monero has any HD wallet implementations, and I'm not familiar enough with monero to say whether generating lots of different accounts would even be feasible. Can anyone with more knowledge chime in here? 1: https://github.com/b-g-goodell/research-lab/blob/master/publications/bulletins/MRL-0006-subaddy/MRL-0006-subaddresses.pdf https://github.com/b-g-goodell/research-lab/blob/master/publ...
- eximius 9y agoEgh, honestly I hope they don't spend much effort on this. They have more than enough work just making a phone that doesn't suck. For their Monero stuff to be helpful, it would need to include the infrastructure to transparently exchange with normal fiat currency. If it doesn't do that, it'll be just another wallet app. That sounds like too tall an order given their funding and existing project of making a phone.
- Casseres 9y agoIt would be interesting to know the details of the collaboration as well as the plans for the end product. It could be that the Monero devs are doing all of the heavy lifting. I imagine whatever they are planning just deals with Monero only. And that people will use LocalMonero, Monero ATMs, or exchanges to go in and out of fiat. Monero devs just published multisig for review. I imagine that's a requirement for some exchanges (like Coinbase?) to securely store it before they can offer it.
- efnx 9y agoI’m having a hard time loading any puri.sm articles. Anyone else having a problem?