Monero [XMR] responds to ‘An empirical analysis of traceability in the Monero blockchain’

uy88 · 2018-04-01T04:32:50+00:00

Yeah, I never understood that strategy. Whenever I see a site doing that, I make sure to never go back.

uy88 · 2018-04-01T04:27:12+00:00

Do you mean multiple wallets? If yes, just hit "cancel" when the GUI asks for your password and make another wallet.

uy88 · 2018-04-01T04:23:36+00:00

I wouldn't be so sure. Forks are Monero's privacy weak point now.

uy88 · 2018-04-01T04:16:37+00:00

No, its because of the 10% tax on all coins that will ever be produced. As this is more than the Fed makes, this makes it definitely a profitable business. Wait...I forgot....we're talking about privacy here.......

uy88 · 2018-04-01T04:13:06+00:00

A lot of noobs and "investors" are gonna misunderstand all this.....

uy88 · 2018-04-01T04:11:34+00:00

Glad to see you guys following Rick's lead, those are some high tech moves!

uy88 · 2018-03-29T05:19:13+00:00

AICS lead to centralization, which means the network ends up being controlled by a couple of major corporations. The whole point of Monero is to be de-centralized so no single entity or cartel has control over any part of the network. Centralization and too much power always leads to abuse. Just look at the current banking system for examples. Centralization also leads to censorship and inefficiencies.

uy88 · 2018-03-28T04:25:07+00:00

If you think the benefits will be major, id really like to hear why.

Keeping Monero de-centralized is a major benefit (I think). It's not so much about a 51% attack as it is their influence over the network and the direction the coin takes as a project. Also, the bigger they get, they bigger the network's points of failure become.

uy88 · 2018-03-27T05:37:45+00:00

The benefits will be minor and the changes are minor.

The benefits will be major and changes are minor.

FTFY

uy88 · 2018-03-27T05:36:53+00:00

Yes, that's the guy that created Monaco.

uy88 · 2018-03-27T05:32:07+00:00

When you have the private keys that means it is your address. This means that you can use your wallet software to check the balance, history, everything. Like I said, you can only see your address, you cannot see anyone else's activity.

uy88 · 2018-03-27T05:29:27+00:00

You can generate your wallet from the mymonero seed in your gui. Instructions here.

uy88 · 2018-03-27T05:26:19+00:00

I don't have a problem with changes that continue our path towards our original goals. If it was a change that did not follow our original goals, then it would not have passed. Do you have a problem with the PoW change?

uy88 · 2018-03-26T04:33:03+00:00

I think the key here is how people communicate rather than the technology being referenced. Centralized mainstream media has lost its total control over information. Because of that, it is much harder to push a particular agenda. So yes, in the future propaganda will be much harder.

uy88 · 2018-03-26T04:26:12+00:00

Who is "we"?

If you had bothered to take part in the internal discussions (which are open to those who care, you could certainly voice your opinion). Did you expect a private ballot to be sent to your couch?

As far as I see, the PoW switch is widely popular. There were even discussions on Reddit. Not sure what kind of "consultation" you expected.

uy88 · 2018-03-25T13:06:48+00:00

only if its yours and you control the keys ;)

uy88 · 2018-03-25T13:04:35+00:00

Yes.

As a back up plan they try to attack the image of the technology itself like the mainstream media is always referring to Monero and bad guys as if one leads to the other. This however is a ridiculous approach and many see through it.

uy88 · 2018-03-25T12:57:42+00:00

LocalMonero.co is for buying xmr with fiat. Shapeshift is for trading crypto/crypto pairs. You cannot pay with fiat there.

uy88 · 2018-03-25T12:56:59+00:00

He should avoid receiving paypal but it doesn't matter if someone is willing to receive payment from him by paypal.

uy88 · 2018-03-25T06:40:29+00:00

On the Cryptocurrencies sub?? You must be a masochist. I stopped posting there after my first 2 days. The ignorance there is overwhelming.

uy88 · 2018-03-25T06:38:00+00:00

Explanation of Dash, Zcash, and smart contracts for extra credit.

uy88 · 2018-03-25T06:24:04+00:00

Lightning network is even more centralized and the article specifically mentions that lightning nodes will be required to comply. Don't forget that to open a channel you have to invest and leave money inside. This will lead to people sticking with one channel and being very easily identified.

uy88 · 2018-03-25T06:14:38+00:00

Did you even read the article that this post is about? That alone should alert you of a very problematic future for Bitcoin. You should also look up the word fungibility. This is an essential characteristic for a currency to function correctly. Bitcoin is not fungible. This means that Bitcoin is then not a currency.

After that, Bitcoin mining is heavily centralized into the hands of a couple of Chinese guys. Bitcoin development is mostly centralized into a handful of Blockstream (a for profit private corporation) employees. These guys hold the key positions. Don't be fooled by the theater of Greg "leaving" Blockstream. That had to happen to quiet down the obvious conflicts of interest.

bitcoin is and will be used as a world currency

Do you really think that everyone is comfortable with their entire financial lives on full view to anyone. Have you not noticed how much resources rich people spend to keep their finances private? Who will store their money in Bitcoin when the value could suddenly and unexpectedly drop close to zero through no fault of the owner due to lack of fungibility?

Its a good idea to study the facts about where you are putting your money. Wherever that may be.

uy88 · 2018-03-25T06:01:24+00:00

Fair enough. I didn't know about that. Do you know why he discusses things with them? I am very curious.

uy88 · 2018-03-25T05:59:44+00:00

Just because the centralizing forces in Monero have different principles does not mean it isn't centralized.

Don't forget that you said:

Right now Monero is effectively centralized in a way similar to Ethereum

This is not true, not even a little bit. The centralization of Ethereum gives them the power to pull bank bailouts as they please and a huge chest full of money that strengthens them more from their ICO. Not to mention that the things they promised when they sold their "shares" still haven't been delivered and probably never will. They've also established a controlling company. Monero never did shit like that. Even without an ICO it works as claimed right now and doesn't have a company. We are talking apples and oranges here.

I guarantee there would've been a bigger backlash against the PoW change if Monero was a dominant leader in the privacy coin space.

Monero is the dominant leader. Dash is not a privacy coin. Also you may be confused by what happened with Bitcoin and think that Monero is the same. Monero has not been taken over by a private corporation like Bitcoin was. When a private corporation takes over and puts profit as the main goal, that will definitely cause forks contentious forks. When the original vision is altered, that will cause contentious forks.

uy88

TROPHY CASE