• 7 Posts
  • 38 Comments
Joined 1 year ago
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Cake day: June 15th, 2023

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  • Hidden amongst all your bullshit (which Bobr has dissected) you do have a few reasonable points

    barely handle the transaction throughput of Visa

    Firstly that’s a non-sequitur, you don’t need Visa throughput to be a currency, but scalability is a genuine issue in the long term. That will need a 2nd layer technology, probably using sharding or other approach for more parallelism and throughput.

    Monero is confusing for average people

    Generally true. Any self-custody solution will be more complex than just trusting a bank service, but substantial UI improvements can be made and some trusted simple apps will develop.

    Monero is centralized

    There is currently a small group of developers and researchers, but they are distributed geographically and not connected except by their involvement in the project. All hosting and communication occurs on multiple platforms, including distributed ones like this one. It’s one of the most decentralized open-source projects around, certainly far better than BTC or ETH for example.

    will not be allowed to be hard-forked

    Bullshit, no-one can prevent hard-forks. Both source-forks and chain-forks can be created by anyone. That is a concern actually as bad actors can cause confusion.

    community can’t decided unilaterally … technical stagnation

    It will be the reverse. Unanimity or a centralized foundation would cause stagnation. Monero has had forks in the past, and it will have more in the future. That guarantees technical innovation. Customers will choose their preferred version. It’s a free market for currency innovation.







  • LobYonder@monero.towntoConspiracy@monero.townReally Russell?
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    3 months ago

    Brand was a typical new-agey authoritarian woke leftist for many years, then he adopted the populist right counter-culture which got him more views. He has a large following on social media and has woken many people up to globalist authoritarianism, but his content is pretty shallow and click-baity. Some consider him a leftist agent, but I think he’s just a narcissistic self-promoter/grifter. Not someone to look to for analysis.




  • You should read about relatives trying to help victims of romance scams on reddit /r/scams. Generally its hard or impossible to convince some who is emotionally invested. I recommend you point out past BTC volatility and drops, and suggest he diversifies a bit if that’s all his savings. He could put some in gold, some in shares, leave some (maybe 50%) in BTC. He will still win big if it “goes to the moon”, and will have some protection from a crash. Often you need to make a mistake before you can learn this lesson. Eggs in baskets.









  • The US dollar has lost about 98% of it’s value since 1971 yet people still use it in trade rather than gold or silver or a better fiat like Swiss Franc. Don’t underestimate the power of inertia. Just because USD has inflation problems doesn’t mean XMR is about to take off. It will take hyperinflation or a currency crisis and even then better-known cryptos like BTC or LTC will be the first choice for normies.





  • Isn’t there an equilibrium or oscillatory cycle: fees higher -> smaller wallets stranded -> fewer viable transactions -> lower block demand -> lower fees?

    BTC has no use-value any more, there are better functional crytpos and so it is a pure speculative “asset”. I think it’s price will increasingly fluctuate and eventually collapse for the same reasons as Beanie Babies or tulip bulbs. The power costs of mining set a lower bound on fees+price tho. Once block rewards are ended we could have a negative feedback where fees take an increasing fraction of tx value and price continues to drop to reducing liquidity.

    One scenario is BTC becomes the “Rai stones” of crypto https://en.wikipedia.org/wiki/Rai_stones which are not used directly but “ownership” is transferred by convention