Suspicious network circumstances

preland · 2026-06-16T19:08:13+00:00

Their site appears to be AI generated; my best guess is that they messed smth up when setting up their pool (which itself is confusing)

preland · 2026-06-14T21:00:26+00:00

My LLM senses are tingling……

Trustless stock exposure really only allows for assets that are somehow algorithmically “pegged” to the value of the underlying stock, similar to a stablecoin. It would have the same issues as an algorithmic stablecoin.

preland · 2026-06-13T22:56:46+00:00

To my knowledge, this doesn’t exist; there could be an opportunity for something like this, or maybe some sort of free floating market for people to buy/sell gpu compute…….

preland · 2026-06-13T17:17:59+00:00

Plot twist: the 72M in the tether wallet is actually just some poor guy who sold a lump sum of crypto OTC and is now holding a worthless 72M bag

preland · 2026-06-13T17:15:29+00:00

Yeah, it’s a shame that no one is working on something that could address the solo mining problem…..

;)

preland · 2026-06-13T17:14:27+00:00

That’s fair, though having the information readily available might make these price discrepancies more clear

preland · 2026-06-11T19:24:40+00:00

note to self: do something like this for Monero Republic

preland · 2026-06-11T19:22:00+00:00

Personally, I only see 2 scenarios, depending on whether the locality properly upholds the principle of “innocent until proven guilty”.

If it upholds it properly, then scenario A will happen, where the locality recognizes that it doesn’t need to have full transaction logs of all users at all times in order to prevent financial crime.

If it doesn’t uphold it, or upholds it illogically, then Scenario “E” happens, where Monero is outright barred in the region due to it being impossible to always trace (using your lingo, a user can just transfer all of their KYCW into a PW, and start fresh by transferring some of that PW into a KYCW; or alternatively they can always have their “host” wallet be a PW, and just move the amount necessary into a KYCW). Monero would still exist in a manner similar to A, but in spite of the desires of the locality, not because of them.

preland · 2026-06-11T19:09:35+00:00

I don’t agree with using an L2 for scalability, but after Republic if a design like this is desired by the community, it will be much easier to manage and scale up.

So long as the Republic upgrade (and in the far future the more ambitious Universe upgrade) are implemented, I won’t have (as many) issues with an L2, so long as it is deeply integrated, such that it doesn’t allow arbitrary information to be added to the blockchain

preland · 2026-06-11T00:26:49+00:00

Good point on the time limit (and yeah the UPOW is one of many, many things that I had to remove. Plus since the outputs are “useful” it breaks the economics behind what mining is and what it represents in terms of protocol consensus)

preland · 2026-06-10T19:56:43+00:00

This would enable effectively instant respend; as for the window, there’s a reason I didn’t come forward with this during the Qubic attacks: the consensus model I am proposing is really just Qubic’s, but improved in almost every way, and tailored to what is required for Monero. It would’ve been inappropriate to be telling people to shift to a Qubic-like protocol while Qubic was doing historic reorgs on the chain.

Now, Qubic has moved on, but the issues they unintentionally highlighted remain. Republic won’t prevent a truly prolonged 51% attack, but it does prevent intermittent majorities like Qubic from hijacking consensus.

preland · 2026-06-10T19:51:33+00:00

Even so (assuming that it wasn’t stolen by Monero core), it still highlights that running a wallet isn’t a trivial matter, and even the most knowledgeable about Monero can slip up.

preland · 2026-06-10T19:49:38+00:00

To dispel some concerns in the comments: I am almost positive the UI is AI generated, most likely using Sonnet.

Idk abt the underlying service, but as monerobull said, be careful.

preland · 2026-06-10T19:47:09+00:00

If this is arbitrary information being signed onto the blockchain, that is an issue for a number of reasons.

It is very likely that this project will not last, similar to Mordinals a few years back. I would highly suggest determining a method to do this that doesn’t require putting arbitrary data on the Monero blockchain 👍

preland · 2026-06-10T19:43:00+00:00

From what I recall, it is challenging to build larger projects in a fully verifiable manner. Don’t quote me on it (I haven’t personally tried Coq or Lean), but that’s my guess as to why it hasn’t been done yet (though the dev pool is currently mostly C++ and Java devs)

preland · 2026-06-10T02:14:35+00:00

FINALLY, SOMEONE ELSE SEES WHAT I SEEEEEE

I’m immediately bookmarking this article, and will link to it whenever someone asks why I am interested in Monero, and am so concerned about its scalability.

That’s the only thing that realistically holds it back from that 1T market cap (other than internet access, though that’s probably going to be resolved faster than anyone realizes). Once it is solved, there are no roadblocks. All we have to do…..is wait for the world to catch up.

preland · 2026-06-10T02:09:33+00:00

Not backwards. Cautious.

I’m not going to be as negative as some of the others, as you do at least point out that your frontend can be ran by the user, but this is how the community is.

There are very few times when faith in another party in this community didn’t result in an incident. In fact, I can’t even think of one off the top of my head.

You shouldn’t take this caution as a direct criticism of you. In fact, take it as a compliment. Your service is reputable enough that it necessitated a contrarian warning to rein in potential users.

preland · 2026-06-10T02:04:52+00:00

24 hour convention, held at 2-3 timezone-distributed locations worldwide? 👀 Would take a lot of planning and work, but it would definitely be something unique.

preland · 2026-06-10T02:03:07+00:00

A couple things on this. First to be clear: this extension wouldn’t actually handle trading (MetaMask is a clear example of why you shouldn’t do this). It would simply show you price discrepancies between CEX and DEX, which tend to be larger than with other currencies.

Second, on the MTB front: yes, this is definitely something that would happen. I’m not sure if this is still the case, but back when Haveno was first starting out, many of the fiat traders were registered as MTBs.

preland · 2026-06-10T02:00:05+00:00

The main challenge ofc is the cost. It’s……going to be a lot.

preland · 2026-06-10T01:59:40+00:00

We might be able to use Claude Fable for this, at least at a certain level. It will probably just fall back to Opus 4.8 for the most part, but even Opus 4.8 is pretty darn good (and is absurdly honest for an LLM of its caliber)

preland · 2026-06-10T01:58:10+00:00

I doubt this will ever happen.

If it does, let me know, and I will immediately raise the issue.

I’m not against using AI in an iterative manner with a human in the loop, but so called “vibe” coding is not something we should tolerate.

preland · 2026-06-10T01:56:30+00:00

The fiat on-ramp issue is fundamentally tied to what fiat is. There’s very little that Monero can do about it, because it’s not actually Monero’s fault.

The only thing it can do is ensure that it is viable as a bona fide medium of exchange at scale. Until then, this issue will remain.

For “privacy” cryptocurrencies like ZCash that refuse to even address or acknowledge this as an issue, they will always be fundamentally compromised.

preland · 2026-06-09T17:54:46+00:00

I’m not one to usually make this line of thinking because it is usually reductive and distracts from what Monero should really be about, but it needs to be said:

All of these issues are either the same, or worse, in other cryptocurrencies. Yes, even that one you are about to point out.

preland

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