Note with this federated approach it would be possible for some instances to add plug-ins for haveno and basicswaodex and serai.
g2devi
joined 2 years ago
I agree in principle but in practise it would be a disaster without a plan. Localmonero.co works because it is THE P2P XMR place. If there are 100 versions, the liquidity on each would be so low that Noone would use it, especially for non USD trades. Having 100 localmoneros is good but you need a federated login like nostr and when you search for offers you would see offers for all instances of localmonero, or at least the most reputable ones. With this approach, the new localmonero would be unstoppable.
Here's instruction on use: https://learn.robosats.com/read/en/
I think the key issue is the lightning network and the lack of user state so they user doesn't know how many steps there are or where they are in process. Getting rid of lightning solves parts of the issue. The user state issue is a newbie UI mistake that most DEXes have solved by including something basic like providing the steps involved in the sidebar, highlighting where you are in the process and how to get to the next step. What I found intimidating on LocalMonero was the openness of it and the fact that may ads requested either KYC or to use Telegram (which I have no need of installing). The two extra layers on anonymity in robosats discourages KYC or use of 3rd parties to discuss the transaction. The discussions can take place on an ID-less chat like SimpleX which is integrated. I believe that SimpleX supports plugins to allow for automation, so crypto-to-crypto trades can be done without user intervention.
The point I'm trying to make is that in the absence of LocalMonero, it is possible to build a replacement using existing technologies (Tor,Robosats,SimpleX,Haveno,BasicSwap,Serai, etc), in a more private, anonymous, an easier and less intimidating to understand technologies.
Eventually Monero will ossify and be linked to the existing financial system just like cash and gold. But when it happens it has to be on Moneros terms. Unfortunately bitcoin ossified and got adopted before it became popular. Btc.maxis believe Btc is popular but that is only in comparison with other crypto. If you look at people like rebel capitals on YouTube try to live off crypto outside Europe or the US you see it no crypto is anywhere near usable except perhaps Usdt on tron. That's to Btc, monero has a guide on what not to do.
While I agree, it's not impossible. MimbleWimble has proven itself on Litecoin and it was implemented (I believe) using a soft fork. So just as Ordinals was forced on the maxis, MimbleWimble can be forced on the maxis as a payment channel if the demand is there. Note, MimbleWimble isn't as private as Monero, and the fact that it's possible to know when something goes into and out of MimbleWimble may make you targeted as a "money launderer" makes it risky. But at least its a step forward.
Actually it can't because Bitcoin is a naked blockchain and you will be able to look at it in its whole glory. What mixers do is essentially allow you to occasionally hide your face. Sure, someone who doesn't know about your mole on your left thigh might not recognise you, but the rest of you is still exposed. Even worse, because of the high fees involved in moving funds around, you're paying a high fee for that face mask.
It doesn't need to be on a device. You can create a "book" at the local binding store containing 200 samples of "Vogon poetry" ( http://spaceinvaders.epizy.com/vogon.html?i=1 ) . Your seed phrase can be scattered in a memorised pattern within the book. You can bring that book with you anywhere and have multiple copies in different locations.
An old school method is to write a note with every fifth word being a seed word. Keep that note among 20 others so you cannot know what is relevant.
Mining isn't a transmission service. All mining does is validates a transmission that already happened. If validation equals doing, then you could send all auditors and detectives and judges to jail for the crimes they investigate and convict.
It's nowhere near as complicated as this. Anarcho-Capitalism inevitably leads to Crony-Capitalism since some people out-compete others and eventually you arrive at a state where its possible to 51% attack any system (e.g. Cantillon Effect). There is only one solution, complete decentralisation in everything so that no-one person can dominate. Bitcoin's main weakness was the lack of privacy (so real life attacks such as censorship, KYC regulations, etc could happen), lack of ASIC resistance (so power centralises), transaction speed so you have to rely on L2s, and the inability to mine your own transactions to push them forward. Monero is far better but it is not free from these issues. Mining should be so light that all wallets do it and the chance of centralisation is near zero.
I'm not american, but it'd take this report with a grain of salt since Politico is left leaning, the former advisers were selected at a time when Trump was more naive wrt the deep state and more dependent on neocons (first term Trump was indifferent to FISA, now he opposes it since it targeted him). What we do know is that Trump wants a strong dollar since if the US looses its reserve status, it's a disaster. He wants to stop the haemorrhaging of US debt by stopping the wars and rebuilding US financial relations which were damaged due to the war and sanctions that forced many countries that tried to wean themselves off the dollar and SWIFT. His stance on Bitcoin has softened, so I don't think he'll be antagonistic to it. A lot depends on who he picks for VP and the military and FBI/CIA. If he picks Vivek Ramaswamy as VP and Tulsi Gabbard in charge of the military and FBI/CIA, he'll focus on government and military reform and he'll be very friendly to crypto, possibly using it along with gold to help to support the US dollar. If he does the reverse, you'll likely see more social programs and reigning in of the FBI/CIA. If both are excluded and MAGA conservatives are selected to those spots, expect him to continue pre-COVID policies which appeared to work.
While I do admire the pledge and I hope it succeeds, IMO, it's a bit too idealistic given how few people currently accept Monero. My suggestion is to have three tiers...platinum (the above)...gold (add "where possible" to each level) and bronze (add "or other crypto" but not fiat when not possible).