[-] anesthesia@monero.town 1 points 1 day ago

Literally just make a new wallet, as everyone else in this thread (including me) did. Of course no one is going to post here their regular use wallet (if they even had one to begin with)

[-] anesthesia@monero.town 4 points 1 day ago* (last edited 1 day ago)

Why Ethereum? Isn’t possible to do it on RandomX?

Eh... no? Because the Monero blockchain has no support for custom tokens...?

Also, why limited supply? XMR ≠ BTC.

Because this is not XMR? It is literally just a memecoin.

Why the F will you sell JPEGs with the Monero mascot that I can download off of Google images for free?

Because people are stupid and they like the NFTs. Besides it's not about "having the JPEG", more of "owning it" I would guess.

Is there a guarantee this won’t be a Pump-and-Dump? Also, why is this pinned?

Probably not. Again it's just a memecoin, play the game if you want, or don't. Up to you.

I'm not related to this project but I don't think it is such a bad idea. Just don't play the game if you don't like it. It is not even in the Monero blockchain so what harm can it realistically do to us?

Edit: Formatting

[-] anesthesia@monero.town 2 points 1 day ago

This sounds interesting. I'm up for the free tokens, and might grab some extra ones later for the meemz :)

0xA4E16089D807F2B52353E193D637EB1FAA6DD6bA

2

I have a quite more technical question regarding how Monero nodes (and other P2P networks) work.

The question is: Once you start your node for the first time, or after it being shut down, how does the node find the first P2P peer?

I get that torrents for instance use trackers for this. But how does Monero (or other cryptos) do it?

I am guessing Haveno does the same thing? ie: Haveno is essentially connecting to two P2P networks at the same time, namely the Monero and the Haveno networks. What tech does Haveno use to find the first peers? Is it related to the seed nodes?

How does Monero do it without seed nodes?

[-] anesthesia@monero.town 5 points 4 weeks ago

They add support for USDT I assume, as there is no support yet. Weird wording I agree

[-] anesthesia@monero.town 2 points 1 month ago

Yes that is exactly it.

That is why you should always make sure to lose all your XMR on a boating accident right after acquiring them 😉

[-] anesthesia@monero.town 2 points 1 month ago

No, Haveno is completely Non-Kyc.

The only problem with Haveno is that you need to pre-own a small amount of XMR as a safety deposit to avoid scams. So it is not the best if you need to get started from scratch. (You get your deposit back after the trade)

Haveno essentially generates a wallet for you that you use on trades, so when I say "add funds" I mean to that new wallet (which is locally generated and thus non-custodial, keys are always under your control)

Once you add some funds to Haveno, just click any of the offers listed there. You'll probably need to add a payment account to your haveno account but the app will guide you through all the steps. There are some tutorials floating around there.

Sounds daunting but it really is super super easy

8

The ongoing Russian conflict has caused Euro Union and other political powers to heavily sanction Russia. Some of these sanctions involve blocking bank transfers between the eurozone and Russia.

Now I do not want to enter a political discussion here, but I think most of these sanctions are actually hurting the individual citizens more than the government to whom they should be targeted.

This has caused that a lot of people that live abroad cannot for instance send money to their loved ones in the country, spend money whenever they go there for a visit, or for people who live and earn money in Russia to spend that money abroad.

Additionally, many banks have seized Russian-owned bank accounts in Europe, essentially stealing their money without them being able to do anything to prevent this.

Of course we could get in the argument here that you do not really own your hard-earned fiat money. After all, if I cannot spend my fiat money in a bakery in Russia, do I really own my money?

This is where Monero shines (or should be shining) in my opinion. Monero should give Russians the ability to break free from these sanctions and actually spend their money however they want.

However, looking into Haveno, there are 0 offers in Russian Rubles (RUB), and historically there have been zero trades with RUB. Also trying to find information on Russian forums about Haveno, no one seems to talk about it at all.

However, before Haveno came out officially, I used another centralized P2P exchange called bitpapa, which I do not promote or recommend, as even though I used it without problems on some occasions, I do not know if it can be fully trusted.

My experience is that (maybe just a coincidence) all trades I did there were done with Russians. So it seems that that platform might be the one preferred by them.

And here is where I want to open a discussion:

Why do you guys think is the reason that there are so little trades in a currency so heavily sanctioned, when Monero is supposed to fight exactly against this kind of issue?

Perhaps there is some failure in our communication methods, and the information about Haveno is not reaching the relevant forums or circles?

[-] anesthesia@monero.town 5 points 1 month ago

I would like to add that if you actually have XMR in a wallet that you got from mining, and you never moved those funds before, you CAN confirm that those funds came from mining. In fact, the GUI wallet will show a symbol indicating that it came from mining (what's called a "coinbase" transaction).

However you could just say that you moved the funds from the mining wallet to this other wallet, but then I will ask again: Show me the mining wallet that got those mining transactions.

[-] anesthesia@monero.town 4 points 1 month ago

I would say depending on who is asking you...

If you have there some xmr valued many hundreds of euros, it is pretty unlikely you actually mined it unless you have some very powerful setup.

If I am the government, then I will ask you: Show me this mining setup. Prove to me that you at least owned or had access to this setup.

I think when we talk about plausible deniability it's not in the context or "Where did this money come from", but more along the lines of "I cannot prove it was actually you who bought this item".

Imagine you buy an item that is restricted or sanctioned in your area, plausible deniability makes it so it is very difficult for me to prove in a court it was you who bought it, and very easy for you to evade these accusations.

If someone forces you to open your wallet, you can just have a second hidden wallet where you keep your stash, and then just open another wallet with, let's say, 5 or 10 euros worth or XMR that you can actually mine in a reasonable amount of time with some old machines.

[-] anesthesia@monero.town 3 points 1 month ago

That is a very cool mechanism. Thanks for the info!

4

I have a question regarding Monero fees.

Currently a transaction gets you to pay around 0.00003 - 0.00005 XMR of transaction fee.

This is a very small fee, and given that XMR is priced at ~150€ it results in less than 1 cent of fee (0.6 cents approx).

I know of Monero's dynamic block size and that it will contribute to keeping fees small in the future given increased usage.

However, imagine a scenario where Monero's price skyrockets. Let's say current BTC price of 66k€.

A similar transaction fee of 0.00004 XMR would result in 2.64€ of transaction fee. This would make XMR unusable (or at least not interesting) for transactions of 10€ or less, given that the transaction fee would be 25% or more of the intended spend value.

I know that it is very unlikely that XMR reaches those values, but in that hypothetical scenario, what would happen with the fees? Would the absolute fee value in XMR go down? Is there a system already in place for this? Would the devs manually lower the fees?

[-] anesthesia@monero.town 3 points 1 month ago

Just watched the 3 available episodes.

Quite impressed with the quality so far, and really excited for you to make more episodes!

This is a very nice continuation to Breaking Monero, nicely updated to the current times.

Hopefully it will not stop without closure like Breaking Monero though, all my luck to you! Keep up the good work :)

[-] anesthesia@monero.town 2 points 1 month ago

I didn't know the protocol tried to use every output in around 16 transactions. I know about the 16 ring size, but I didn't know it also tried to use each output 16 times. If so, that is very smart and interesting. You learn something new every day!

The idea of sweeping them and then churning the merged output is also smart.

Oh well I guess we just have to wait for FCMP++ where theoretically all this will be no longer relevant :)

I remember watching the breaking monero series, when it was mentioned that (paraphrasing) "Rings are what give security to Monero but I really hope we get rid of them"... That time is finally getting closer :)

[-] anesthesia@monero.town 5 points 1 month ago

I think there is one very good usecase for churning though.

And before anything, yes I know that one should not use CEX but in some cases it is just much more convenient. Although I am now starting to use Haveno, I get not everyone is up to it, and CEX is just plain easier.

Imagine the following scenario:

I buy a shitcoin over at a KYC'd CEX.

I send that coin to a centralized swap, or trade it with a compromised person, in exchange of XMR.

Lets say I repeatedly do that procedure with the same person or CEX. Then I end with multiple "small" outputs on my wallet, all from the same entity. Let's say for example 10 outputs of 0.1 XMR, which all have been sent to me by the same entity.

Now I want to buy something that costs 1 XMR. I need to use my 10 existing outputs. I make a transaction that takes 10 inputs and 2 outputs (what I buy + change). The transaction has 10 inputs, and all of those inputs have a ring, where one of the members of each ring is an output controlled by the compromised entity.

The likelihood of someone making a transaction with 10 inputs, where those 10 inputs happen to contain a member in the ring that was sent by that specific exchange and that is linkable to my identity is near zero, unless it is me who is spending those 10 outputs.

Therefore, the person that sent me those 10 outputs can make a very well educated guess that it was me who bought that item for 1 XMR.

This "vulnerability" is actually talked about in the Breaking Monero series, and as far as I know, it will be solved when FCMP++ comes, since we will get rid of rings altogether.

However let's say I do one step of churning with all those outputs without mixing them with eachother. That is, I send to myself 10 transactions of 0.1 XMR, so I just "forward" each output to myself once, without making any transaction that contains two poisoned inputs at the same time.

Then I will still end up with 10 outputs of 0.1 XMR, but all the "poisoned" outputs are present in different and unlinkable transactions, and the negative actor does not know whether they are truly spent or not.

Then I can actually join those 10 outputs into one 1XMR transaction safely, knowing that I am the only person who knows where those 10 outputs come from.

Am I wrong in this thought process?

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anesthesia

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