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Joined 1 year ago
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Cake day: January 8th, 2024

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  • I’ll be honest, I read the link fully expecting to completely disagree with it, and actually I don’t. There’s actually a decent amount of it I do agree with. Bitcoin has evolved and not in a good way from what it was meant to be which was peer-to-peer digital cash that anybody could use to send money around the world in an instant with no government oversight. That’s actually the big reason that I’m interested in Monero, because it still fulfills that vision while providing user privacy and low fees. It does use proof of work mining, so uses electricity for that, but it is much better than Bitcoin simply because it uses your general CPU that you find in your phone, your desktop, your laptop, etc. and does not require specialized hardware that costs a ton of money and burns a crap ton of power to only mine.

    You may or may not find my arguments above compelling, but I appreciate the link. Because, as I said, I expected to fully disagree with it and found more agreement than I expected to.
















  • We really don’t have to advocate or evangelize for it much considering the fact that it’s completely used on the dark net for drug purchases. Love them or hate them. Criminals are the first ones to adapt. New better technology. And then everybody else follows on after that. That video is a lot of guesswork and most of it is completely solvable either today or in the very near future. The idea that they can trace Monero depends on compromised nodes which is fixed by running your own node or using somebody you trust as a node provider trading with a centralized exchange which is easily solved by not trading with a centralized exchange, and ring signature weaknesses that are well-known and in the process of being fixed.




  • Oh, I know Monero uses proof of work and therefore uses power. However, my thought is that Monero can replace the banks and so you’ve got to consider how much power it takes to run bank buildings and bank employees cars and armored trucks etc. Also, since Monero is mined with CPUs instead of application-specific integrated circuits, you don’t get a bunch of miners in one place. They are much more distributed throughout the entire power grid. So like we don’t have giant mining farms located in Texas that is causing noise pollution to the nearby towns and stuff like that. We also don’t have big mining companies causing drama in the news.

    Edit: Proof of work is truly required because it literally backs the value of your currency with energy. And proof of stake has no physical backing.