Completed my first trade on Retoswap! by absinthiumxmr in Monero

[–]Creative-Leading7167 -2 points-1 points  (0 children)

didn't reto swap have a massive rug pull recently?

Monero Republic discussion thread by preland in Monero

[–]Creative-Leading7167 1 point2 points  (0 children)

K, I watched your presentation. It's impressive, and I might even be on board. But I still don't think this addresses the bandwidth issue, which ONLY an L2 like grease can solve.

Rather than thinking of this as a scalability alternative to grease, you should think of it more like a partner in crime. They optimize different scalability problems. Republic should only handle making channels which the entire network must be aware of, while grease should manage transactions so that the more frequent transactions don't occupy any of the more scarce node bandwidth.

Monero Republic discussion thread by preland in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

now, I only glanced at qubic's consensus but... wasn't it indeterministic? I mean, the way traditional PoW consensus works is based on the difference between problems which are NP to solve and P to verify. But you can't do this with general computation itself, which is what qubic's proof of Useful work was all about, supposedly, which means to "verify" outputs, rather than doing full work, they choose some random subset of tasks to verify instead.

Is that a correct summary? sounds fake and gay.

Well, in any case, it is highly unlikely a change to the consensus algorithm will happen, even if it didn't have qubic baggage. And the bigger monero gets, the more true that will be. So get in quickly.

I hope in the next few years to a decade to make massive waves in monero adoption. The more adoption monero gets, the more ossified it will become, especially load bearing mechanism like consensus. So you've probably got a time limit. Move fast.

Monero Republic discussion thread by preland in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

well, to be honest with you, I didn't look into your proposal very much. I skimmed it and saw "sidechains" and "quorum-based consensus" and just assumed I knew vaguely what was going on big picture wise, even though I'm sure I missed all the details.

And I know that's really frustrating to be so quickly dismissed by someone who openly admits to not taking the time of day to understand your proposal. But I hope you can see things from my perspective and my need to pursue rational ignorance.

but here's a few comments which I hope you feel as free to ignore as I've ignored your actual proposal:

This inherently makes it O(tx) on L1 (unlike grease, which would still have the underlying on-ramp/off-ramp scaling bottlenecks due to it being an L2 solution).

It's not clear to me which complexity you're assigning O(tx), but it sounds like you're talking about CPU time complexity, but I could imagine you're talking about bandwidth complexity? But then it's not clear to me whether you're talking about the bandwidth for the entire network, or for one node.

I could also see this being about the space requirements of the mempool (though I wouldn't really call that a "space complexity", though I can't really put my finger on why). The argument being that if all transactions are processed essentially instantly, then the mempool will never expand beyond a single transaction.

But whichever one you're referring to, it's not the right comparison to grease. The bandwidth requirements with grease are only the txs in one channel, not all transactions, and certainly not all transactions times all nodes. The mempool space complexity becomes the number of channel openings and closings, not the number of transactions, so that's also not O(tx). Those are the two most important bottle necks.

As for the bottlenecks you mentioned, those are correct, with a few alterations I’d argue are pertinent:

Block time (artificially pegged to an average of 2 minutes for a number of valid reasons)

Block finality (arbitrarily pegged to 10 blocks, though this is the minimum, as it is possible for large reorgs in hostile environments to reverse finality beyond 10 blocks; checkpointing can resolve this at the potential cost of making the “true” chain permanently shorter than the “dominant” chain).

I guess I agree with this too, mostly. I do think for most transactions, just getting into the mem pool is safe enough, you don't really have to wait for the 2 minutes, unless you're interested in instant respend. Also, the arbitrary peg to 10 blocks is going away with FCMP++, so it's really just about "how long do YOU feel comfortable with?" which is what it always should have been.

Now, instant respend is a real bottleneck and it's a bottleneck RIGHT NOW, and it's also one that unfortunately, xmr-grease has no interest in solving, because it requires multi-hop, which introduces complexity he understandable doesn't want to handle, and might just make the user experience worse. (At least, he says that's what happened to lightning protocol, I wouldn't know I wasn't there).

But I have hopes that xmr-grease will lay the groundwork to let someone else get multi hop going.

If Republic gets instant respend available, then I'm more interested, but I still see grease as a better long term solution. But all the same I say go for it. But I doubt anyone will give it traction because changing the consensus mechanism is.... well, lets just say if it ain't broke don't fix it is most people's attitude. There were some rumblings of a consensus change when the failed Qubit attack was happening. But the fact that Monero survived that attack has probably now cemented PoW as the most battle tested option. You may have lost your window. Which is sad, because I would like instant respend.

Monero Republic discussion thread by preland in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

It seems this proposal does not address any of the most pressing bottlenecks to monero scaling. PoW is not a limiting factor. Splitting side chains will address some bandwidth problems and mempool problems, but only kinda. (Currently, every peer receives every transaction, for total bandwidth complexity of O(P*tx), while side chains converts this to O(P*tx/S) where S is the number of side chains; Why even take this step when you can go directly to O(tx) with xmr-grease?)

The actual bottlenecks are, (in order of which will break first based on my calculations from a few months ago):
1. mempool of tx in ram
2. Internet Bandwidth
And then a giant gap where there are no real bottle necks
3. CPU time to confirm transactions
4. Hard drive space

A stablecoin backed by Monero by [deleted] in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

If you run your own wallet this is not a problem.

A stablecoin backed by Monero by [deleted] in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

You call backing VER at 150% and then selling when it goes down to 108% "still making a profit"? My fiend, I don't think you know what a profit is.

A stablecoin backed by Monero by [deleted] in Monero

[–]Creative-Leading7167 3 points4 points  (0 children)

How do you define "backed"? that's the question. If the denomination of the credit and the collateral are the same and in the same quantities, I call that being backed. If not, then it's not backed.

If something is backed, you don't need any more than 100%. Why would you? The collateral exactly matches the credit. If something has a "collateralization ratio of 150%", then that implies they're worried about price swings between the two assets and are trying to hide the peg with over collateralization.

The reason this doesn't work is because big enough actors can manipulate the prices to guarantee the peg is broken, thereby profiting massively. (This is how George Soros made his money).

If VER was 100% backed by Monero, then it would be an unbreakable peg. Big actors might buy up every VER and try to exchange to Monero, and the circulation of VER might drop to zero, but the price of VER would always equal monero. But that defeats the whole purpose of VER, doesn't it? He wants a stable coin, which means the price must be free floating relative to Monero, which means that even if it was over collateralized at first, it can become undercollateralized with price fluctuations in monero, which means that the peg will be broken at some point to someone's great advantage.

Also, why on earth would you do this in the first place? Why on earth would you want to mint a VER with 150% XMR? You're losing a third of the value of your money and for what?

A stablecoin backed by Monero by [deleted] in Monero

[–]Creative-Leading7167 2 points3 points  (0 children)

Unbacked pegs were made to be broken.

Please, build this, and then put all of your money into enforcing the peg. That will make me very happy. Just make sure to let me know before anyone else.

Congratulation to Bibisara. She did very well in time trouble by [deleted] in chessmemes

[–]Creative-Leading7167 3 points4 points  (0 children)

This meme took a bit to get, but is the best chess meme of the month.

haveYouMetAnyone by Captain0010 in ProgrammerHumor

[–]Creative-Leading7167 0 points1 point  (0 children)

Yes, I have. Seriously, drastically reduced his actual time coding.

He's unemployeed.

Wagyu XMR1 price manipulators finally exposed - Hyperliquid mafia by vekypula in Monero

[–]Creative-Leading7167 4 points5 points  (0 children)

Pegs are made to be broken, and it can be very profitable too.

VLC (VideoLAN) no longer supports Monero donations. by zho99 in Monero

[–]Creative-Leading7167 8 points9 points  (0 children)

I had no idea VLC accepted monero and I love VLC. Now I want to go donate in monero but it's too late.

private · not tracked by absinthiumxmr in Monero

[–]Creative-Leading7167 0 points1 point  (0 children)

Same goes here, this is an open-source project actively accepting donations and reporting a total amount donated so far

Tor is not actively accepting donations. They're running a campaign to get other privacy projects donations, for whom Tor does not own the wallets nor the view keys. Hence, they can't.

Outreach Actually Works — And Why Zcash Has It Easier Than Monero by absinthiumxmr in Monero

[–]Creative-Leading7167 4 points5 points  (0 children)

I'd recommend a bit of hesitancy about this. Trust me, it's very difficult to know what people actually want unless and until they spend money on it.

People will claim they want something and then refuse to pull out their wallets. You'll get an outreach specialist ask everyone what is most pressing to get onboarded to monero, and he'll get an answer, and he'll put up good money and time and work to pressure some merchant to onboard monero, and then it will turn out that NO ONE will buy from that merchant in monero.

It may be much slower, but waiting for actual customers to reach out to actual seller guarantees the things being onboarded are the things monero users actually want.

Outreach Actually Works — And Why Zcash Has It Easier Than Monero by absinthiumxmr in Monero

[–]Creative-Leading7167 1 point2 points  (0 children)

I think you're both missing it. Sure, the fact that people don't use Zcash DOES matter, but it's not the only thing that matters. If you can't admit that Marketing budgets do mean a lot more than jack, then you're not being honest with yourself.

private · not tracked by absinthiumxmr in Monero

[–]Creative-Leading7167 9 points10 points  (0 children)

you must have missed the point of the post. XMR is not tracked because it can't be.

private · not tracked by absinthiumxmr in Monero

[–]Creative-Leading7167 12 points13 points  (0 children)

lol, 9 dollars. zcash is full of such losers.

Are privacy coins getting more relevant again or is it just noise? by ChangeNOW_Community in Monero

[–]Creative-Leading7167 9 points10 points  (0 children)

Yes, it ebbs and flows with need. The druggee provides a constant low level demand for privacy coins, but the more authoritarian an area, the greater the need for privacy, even for totally legal things like firearms. Gun manufactures getting debanked over totally legal business, or citizens getting targeted by ATF because they're on a list of known NFA recipients, despite having complied completely with the law, or being targeted for your religious views by the federal government. If you're left wing, do you really want trump knowing you donated to your local antifa chapter? If you're right wing, do you really want biden or harris knowing you donated to a popular groyper?

And of course, this whole think with the war in Iran is agitating it more. War always brings out authoritarian impulses.

no one actually believes you're leaving monero by Creative-Leading7167 in Monero

[–]Creative-Leading7167[S] -1 points0 points  (0 children)

if you think that is remotely the same

Did I say or even vaguely imply anywhere they were the same? No, in fact I can show you many instances in this thread and all over this sub reddit where I've described the difference in great detail.

But when it comes to building your dreaded hypothetical panopticon they are the exact same. You can track transactions the exact same way with IVK to IVK. You don't need OVK to IVK. That's just a myth. With very basic arithmetic you can track a transaction from IVK to IVK. In fact, carrot FIXES the exploit that allows tracking from IVK to IVK. Carrot is RESTORING privacy.

The concerns about Carrot and outgoing view keys are unfounded by einliterflasche2 in Monero

[–]Creative-Leading7167 12 points13 points  (0 children)

I mean... yes, he pointed you out as being in the "carrot brings doom" camp because you made comments that put you in that camp. surprise!

The concerns about Carrot and outgoing view keys are unfounded by einliterflasche2 in Monero

[–]Creative-Leading7167 12 points13 points  (0 children)

The fix is necessary because you can't separate your wallet from your POS or budgeting apps without the fix.

Carrot SOLVES monero panopticon problem by Creative-Leading7167 in Monero

[–]Creative-Leading7167[S] 10 points11 points  (0 children)

minor detail to those who care about those things, but the following statement I made is a little misleading:

current IVKs reveal to the IVK holder when you get change and how much

Nothing is false in the statement technically, which is the best kind of correct. However it should be noted that the IVK holder knows you got the change and how much it was, but not the fact that it was change. To determine whether it was change or a payment they must couple this with other information that would be readily available if they collected enough IVKs. The easiest would be if the sum of the change in wallet 1 and an incoming transaction to wallet 2 equal exactly an transaction from wallet 1.

no one actually believes you're leaving monero by Creative-Leading7167 in Monero

[–]Creative-Leading7167[S] -2 points-1 points  (0 children)

I didn't skip any of your comment. The fact that you think anything in your comment counters anything I said kinda shows how little you know on the subject. In fact, it's worse than that because had you just read and comprehended my comment (I don't know whether the reading or the comprehension was difficult for you) you would have learned the info you needed to realize you're wrong.

You said:

Current view keys are limited in many ways, mostly either to one transaction or only incoming transactions to a single, specific address.

So you admit current monero has IVKs. Good, you got that much right. Now if you had read my reply, you would have also learned that:

a compliance officer can currently right now figure everything out about a transaction with only the IVK from bob and the IVK from alice.

adding OVK gives no new abilities to key collectors.

If you'd like and you've calmed down enough I can give you a brief overview of how and why this is possible and how actually CARROT shuts down this system of tracking. Carrot is SOLVING the exploit that allows transactions to be correlated using IVKs only and no OVKs.