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How Monero Fulfilled Satoshi's Promise
- deleted 2y ago[deleted]
- m00dy 2y agoThe entire darknet industry revolves around this small yet precious thing, something to be proud of.
- yapyap 2y agoIs this sarcasm? Truly can’t tell to be honest. I’m assuming it isn’t cause having privacy so great a whole industry can be revolved around it is indeed something to be proud of.
- desumeku 2y agoHN is all about privacy, security, never trusting Google ever ever, etc. until it comes to crypto, and then all of a sudden it's well only criminals would want that and don't you know they can probably trace you anyway etc.
- 123yawaworht456 2y agothis place is only good for reading about topics that don't get opinionated coverage from the media. otherwise, you just get regurgitated diarrhea from people who are incapable of forming their own opinions or keep their existing opinions in face of adversity, when the overton window shifts. crypto got heavily bombarded with bad press at some point during COVID era - I remember seeing 2-3 articles per day on the front page here, for weeks, about how le bad it is for the environment, etc. and that was enough to change the public sentiment here from indifference to knee-jerk, Pavlovian reaction to anything related to it.
- SR2Z 2y agoThere are many objections to crypto on this site and they're almost never about privacy or security. It's disingenuous to pretend that: - stability - throughput - power consumption - taxation - monetary policy capabilities are all made-up objections from people watching too much cable news. Yes, the consequence of crypto's failure to support a large subset of these is best distilled as "this is useful for criminals, grifters and not many others."
- madethisnow 2y agoUSD is so much cleaner, true
- hudon 2y ago“ Cash is Censorship-Resistant, meaning it cannot be blocked by banks or governments” No crypto is large enough to be useful as cash and yet still censorship resistant. Governments can and have censored developers, miners, and exchanges. Monero is no exception, as highlighted at the beginning of the article. Further censorship is just a matter of time, not capability.
- LiquidSky 2y agoYeah, I never understood this "censorship resistant" nonsense. It seems completely disconnected from the real world. The Internet is not some magic fantasyland in another dimension. If a government made it illegal to possess, use, or accept any crypto your choice of protocol won't matter.
- desumeku 2y agoIf it's so easy, why don't they just enforce it? Go ahead and try and catch people when they make Monero transactions and arrest them, considering the entire protocol is designed to make that as hard as possible.
- SAI_Peregrinus 2y agoA law making something like Monero illegal isn't intended to catch all users of the thing, it's intended to be able to add charges to cases involving other things.
- SR2Z 2y agoSure - you can't stop regular people from making small purchases from other regular people. But the INSTANT that a regular person becomes a regular small business, the tax authority can and likely will ask to see their records. The INSTANT someone buys a car, the government will be interested in knowing how they paid for it. Even in the most extreme situation, the government can and will demand taxes to be paid in its preferred currency. How are you gonna get hold of a substantial amount of dollars or remnibi or whatever without getting caught? This stuff is enforced and no amount of math can beat thousands of years of the state figuring out how to collect taxes.
- cbradford 2y agoMonero is the last refuge of freedom in the monetary system. Its a beautiful replacement for cash, a true work of art
- criddell 2y agoSatoshi also claimed (in an email to Mike Hearn) that Bitcoin can beat VISA with higher transaction volume and lower processing fees. Has Monero achieved this goal as well?
- cantSpellSober 2y agoSatoshi claimed a lot. For the purpose of the title the Promise was peer-to-peer permissionless transactions, with a weakness: > public ledger cryptocurrencies have most of the characteristics of cash except one thing: Untraceability The author argues Monero fills a missing case: > untraceable cryptocurrency while keeping all of cash’s characteristics
- criddell 2y agoOne of cash's characteristics is that I can give my neighbor $1 and my net worth drops by exactly $1 and theirs goes up by that amount. There's no fee.
- cantSpellSober 2y agoYes > cryptocurrencies have most of the characteristics of cash
- criddell 2y ago> untraceable cryptocurrency while keeping all of cash’s characteristics
- lcnPylGDnU4H9OF 2y agoSurely this is a place where a good faith reading solves the conundrum. If the author had written, "while keeping the cash-like characteristics" we wouldn't be here and they would have made the same point they were trying to make.
- maremmano 2y agoWhat about Monero competitors? I think about ZCash or, maybe, some new kids on the block? :)
- OutOfHere 2y agoEven Litecoin officially supports privacy these days via Mimblewimble / MWEB, although the privacy is not as strong as Monero. Litecoin is easier to work with since all crypto exchanges support it unlike with Monero. I would like to see Bitcoin similarly support Mimblewimble / MWEB. Bitcoin Lightning also has privacy, although it's not as strong as MWEB and obviously nowhere near Monero.
- bdcravens 2y agoNot sure if it's still the case, but Monero's main use case seemed to be making CPU mining viable (ie, hacking cloud accounts for profit). It's so fun to deal with $50k of surprise AWS charges on a Saturday morning. (Thankfully AWS is pretty forgiving in terms of letting you get those charges removed)
- bitbasher 2y agoRIP Len.
- morbicer 2y agoMonero was the only coin that made sense to me back in the 2017 crypto craze. A real anonymous and government free currency. To this day I am salty that Bitcoin won, such a shitty coin, now firmly embraced by governments, full of regulation. Slow, high fees, not really accepted by merchants. Just a "gold" made out of thin air.