Spyke

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monero

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Dampening Volatility To Promote The Monero Economy

If averages are published by a reputable website, shops can choose to use the average rather than "spot" price. In any case as XMR is more frequently exchanged for more stable goods or assets, the natural actions of buyers and seller will moderate fluctuations. However if you create a trading platform to trade averages vs spot prices that will tend to increase volatility, as short-term speculators benefit from volatility.

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KYC? No, thanks | KYCNOT.me Blog

KYC is being used by many businesses as a convenient gatekeeping tool

The more important point is that the state has the gatekeeping and tracking power, they can see your transactions and refuse access because of "suspicious activity". The business is just "complying with regulations". If it was a business decision you could just find another.

monero

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Why is Monero hated by Bitcoiners

At some level it's the fear of backing the wrong horse. To feel safe you have to be a "maxi", and to be a "maxi" you have to deny anything else can work. Bitcoin is the first crypto most people find, and the "everything else is a shitcoin" message creates a self-reinforcing cult atmosphere. The fact that mot altcoins soon fail reinforces that.

Almost all bitcoiners are there for "number go up" profit, so the price volatility also creates a lot of anxiety. The ones that stick with it become very committed HODLers. It's a bit like an abusive relationship, the pain makes you commit more. Market psychology is fascinating, and is why emotional investors lose their money.

monero

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Concerned about my friend who’s a Bitcoin maxi

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.

monero

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*Permanently Deleted*

I follow George. Most of the more libertarian financial channels are pro gold/silver sound money, and tend to ignore or have antipathy to crypto as competition/distraction. HeresyFinancial is pro-bitcoin though. The technical analysis channels are happy to talk crypto. Now that CDBCs are looming some may start taking the crypto angle more seriously as an alternative.

monero

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How To Encrypt Your Mnemonic Seed Without A Computer/Internet

The first 3 letters are unique for the English seed words, so you just need to encode 25*3 = 75 letters.

I also think it is worth writing them down in a way that is not obviously a crypto address. You can place 75 letters in a 9x9 square (with maybe some extra dummy letters) that looks like a common word puzzle, eg sudoku or crossword, in a specific order, eg a spiral. You can custom print a template or copy one from eg https://puzzlestream.com/sudoku/blank-grid.php .

monero

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Skepticism Sunday #3 — August 11, 2024

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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.

monero

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Monero on Nostr: Some progress

So I installed Gossip, created an identity but did not publish it, and added some relays and followed your public key. Now Settings says my "public key not set" while Account>Keys says "ready to sign events" and your follow says "relay list not found" and Inbox is empty. What else do I need to do?

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ZH article on financial discrimination by crypto exchanges

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This is the only explicit mention of companies applying "risk assessment":

(Knox suspects she has ended up on a blacklist at Plaid, a provider of technology plumbing to large crypto exchanges like Gemini, Kraken, and Robinhood, leading to the repeated bans. Freya Petersen, spokesperson for Plaid, says no such list exists, but that all firms that wish to use its services are subject to a standard risk assessment process, factoring in the industry in which they operate.) -Wired

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Creating a miner/space heater

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If you want to generate heat, go for higher voltage overclocks (you will need larger coolers to disperse the heat).

Probably best to clock optimally for XMR/watt to minimize net heating cost. Either keep it on for longer per day or get a 2nd rig for more total heat.