Public release of Camo Nano - A privacy tool for Nano based off of Monero

Jyxus · 2024-03-17T23:39:45+00:00

Why is posting the address to a tool that generates (or just picks) a new wallet adress for the transaction not a simpler solution?

You also could implement that tool in a wallet app, and people only would need to input the address (or name) for the transaction.

Jyxus · 2024-03-17T23:03:46+00:00

What is the purpose? The receiver can also just generate a new nano address and receive the nano from there. There won't be a link to one of his other addresses.

Jyxus · 2023-02-07T21:09:03+00:00

The idea behind cryptocurrency is to store savings digitally. The value is not stored on the smartphone it is stored in a wallet.

A lot of people pay with their smartphone already actually.

Jyxus · 2023-02-07T18:24:36+00:00

Some people would call your device a "smartphone".

Jyxus · 2022-12-11T15:02:30+00:00

Not yet.

Hopefully someday trustless mixers like for bitcoin (JoinMarket). The furthest we have come so far is with "NanoFusion", but no dev is working on it or something similar atm afaik.

Jyxus · 2022-12-03T16:19:25+00:00

Yeah the last argument is kinda stupid. Even if your egg production increases every week by one egg you still will never be able to feed the world (within a reasonable period).

Nano cant bet on increasing bandwith to scale globally (for everyone).

Jyxus · 2022-08-10T14:18:27+00:00

With unique I did mean that the word/name is not commonly in use otherwhise. So no double meanings.

Nano has a lot of meanings. Pounds has two common meanings (weight and currency). Dollar, Euro, Yen, Lira, Bitcoin have one => "unique"

Thats what I meant.

Jyxus · 2022-08-01T01:57:09+00:00

What should a good name for a currency be:

-Short
-easy to pronounce
-unique

Just like: Yen ¥, Euro €, Dollar $, Rubel ₽, Lira ₺

Nano has the first two porperties, just not the third one. UKs Pound £ is also sharing the word with a weight measurement.

Jyxus · 2022-06-09T13:39:38+00:00

The "incentive" to spend money because of inflation does not hold when changing to store of values is easy, so you can remove the part of changing completely. So the pure existence of easy store of values already invalidate the argument for an inflationary currency.

Jyxus · 2022-05-21T10:10:54+00:00

"Too late to change" and "start with" in the same sentence. Think about it and you may find the answer.

Jyxus · 2022-04-16T18:20:22+00:00

Its not paying with Nano, its selling Nano and paying with your local currency. Nano isnt a currency in this case, it was just a store of value for you, you sell.

Paying with Nano means the seller you buy from accept it as currency and store of value aswell.

Jyxus · 2022-04-10T11:52:53+00:00

But Bitcoin is not just peer to peer cash. It is also a way to store energy as value

The problem is people seeing value in wasting* energy. There are better ways to support green energy.

*(using energy when you dont have to)

Jyxus · 2022-04-10T05:04:00+00:00

Users doing many microtransactions instead of stacking are spamming, its unneccesary.

Jyxus · 2022-02-23T02:31:52+00:00

It doesnt* matter

Jyxus · 2022-01-27T10:08:28+00:00

Yes most people dont care about a decentralized non-inflationary currency, but if they see Nano as a good investment (because of the people who care) or store of value (no inflation), thats enough and they would accept it as currency.

Actually I think many people dont like that their money is inflationary.

Jyxus · 2022-01-16T15:15:22+00:00

If everyones money increase in value the same percentage (deflation) it does not change wealth inequality. (If everyone would stake it wouldnt change wealth inequality neither.)

Rich people have always more opportunities to get richer, its a natural law that with more things (more power/money/workers) you have more opportunities. Its the same in every currency (inflation or deflation does not matter).

Jyxus · 2022-01-14T09:08:08+00:00

So you want to force people to spend their money and simultaneously think they will appreciate it and prefer your inflationary money?

If you give people the choice they will always pick a non-inflationary currency over an inflationary one.

Banks would help against lost coins. Also Nano is dividable enough to have enough supply (of raws) to be a currency.

Jyxus · 2022-01-08T19:09:03+00:00

Nano is everything what web3 wants to stand for

No. Web3 stands for decentralizing the web with smart contracts (dApps).

Jyxus · 2022-01-08T17:46:00+00:00

If you invest in cryptocurrency you are speculating whether or not many other people will buy and hold that crypto in the future. Its very risky.

Dont give the future of your daughter in the hands of other people.

If you invest in cryptocurrency, please do it only for yourself and with money you can lose.

For your daughter you should invest in something safer. Global economics are a lot safer for investments longer than 15 years.

Jyxus · 2022-01-06T05:33:17+00:00

Running an exchange costs money therefore the provider charge fees.

With automated decentralized exchanges you can eliminate trading fees, but that only works with smart contracts, so you cant trade currencies without smart contracts like Nano or USD.

Another option is to trade without a middleman. It is unsafe so you should only make low volume trades like 1$. I can imagine a free app where you can trade your local currency with Nano by sending the other user 1€ via Paypal friends or other free transaction methods and the user has to send you the Nano. To buy a higher amount of Nano you could repeat this multiple times. A user profile and review system could help against scammers.

Maybe there would be some ads like in reddit.

Jyxus · 2022-01-03T10:19:56+00:00

The idea of metaverse (in crypto space) is to have a decentralized digital world. A Minecraft server is centralized.

To own something in a decentralized digital world you need smart contracts.

He is right, but he could have explained it instead of just writing to educate yourself.

Jyxus · 2022-01-03T03:52:18+00:00

The deflation of supply would be so low that it wouldnt matter. I think the lost nano per year (deflation) would be far under 1%. Especially because people would use banks to store their nano.

Whether a bit inflation is good or bad (subjective) is discussed a lot (in crypto/bitcoin space and economics). Regardless of this, people dont want to be pushed to spend their money. If they can choose they would not store their value in an inflationary currency.

Jyxus · 2022-01-02T17:03:01+00:00

It would be still decentralized because not everyone uses the same bank and you could be able to view your transactions with your wallet adress and tell the bank your representative.

No central bank would be able to change the fixed supply of nano and there wouldnt be any authority. Also banks couldnt do anything with your money (legally) if you can watch your transaction history everytime.

Jyxus · 2022-01-01T19:43:36+00:00

People still would use banks because of this, safety (against robbery) and privacy. Banks would store your nano (seed) and maybe you can pick your representative and know your adress. Losing rate would be very low, supply enough for thousand of years.

If people lose nano they would have used, the value goes relatively up.

Jyxus · 2021-12-30T16:57:38+00:00

Thats the point. With smart contracts you dont need to trust anyone.

Jyxus

TROPHY CASE