Question about Monero from a Bitcoin maxi

Why you bully me

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Quote from: RussianEnglishTranslation on June 20, 2021, 01:00:07 AM

Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

a) Is Monero as suited for it's stated goal of private transactions as it claims- no, Monero can be tracked by monitoring node traffic and using tools patented by ciphertrace.
b) Is it better suited to this goal than using properly coinjoined btc over Tor- No, both are not safe and likely honeypots.
c) Is Monero actually decentralized to a decent degree- No, the majority of mining is done by cryptojacker malware and one mining pool controls the majority of the hashrate and can 51% attack at any time.
d) Why Monero will fail in the long run- No, due to it's design, Monero can never scale to be used as a world currency due to the time it takes to process bulletproofs, transaction confirmations, block size/centralization limitations.

Due to these reasons and more I sold my Monero for 0xMonero.

Monero cannot be traced. Make a video on youtube about how it can be traced, you will be the first one if you can do it.

Why you bully me

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Activity: 148

Merit: 13

Quote from: hodap on June 22, 2021, 01:47:40 AM

Quote from: RussianEnglishTranslation on June 20, 2021, 01:00:07 AM

Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

a) Is Monero as suited for it's stated goal of private transactions as it claims- no, Monero can be tracked by monitoring node traffic and using tools patented by ciphertrace.
b) Is it better suited to this goal than using properly coinjoined btc over Tor- No, both are not safe and likely honeypots.
c) Is Monero actually decentralized to a decent degree- No, the majority of mining is done by cryptojacker malware and one mining pool controls the majority of the hashrate and can 51% attack at any time.
d) Why Monero will fail in the long run- No, due to it's design, Monero can never scale to be used as a world currency due to the time it takes to process bulletproofs, transaction confirmations, block size/centralization limitations.

Due to these reasons and more I sold my Monero for 0xMonero.

As for a), could we run the experiment with a transaction of mine? You put is as if it was no problem to track Monero transactions. Cool, let's assume I believe you, would you be so kind and deliver some proof? What do you need from me to show that you successfully tracked my Monero transaction from one address to another, let's just go for a one step transaction.

He spreads fud about monero and it can be traced for some reason. Monero is not traceable as we all know Cheesy

.

crwth

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I think the degree of technicality of transacting it is what makes it hard to adopt everyone. Of course, every coin has its pros and cons about its features, but usually, it's always the use case of the coin being accepted by everyone, making it a use case crypto. The only sad thing about BTC is the fees, but it's being worked on. Specifically for Monero, it's not going to fail, like all the OG coins. Comparing to all the meme coins that are popping up, it's not going to be like that.

jrrsparkles

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Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

a) Monero is still considered to be the best anonymous crypto coin and have better volume that others so its still on the path, may reach its goal if crypto becomes mainstream.
b) Yes, bitcoin blockchain is public and most user's addresses are connected with some centralized exchange so it can be still tracked even if there is a small mistake.
c) yes, until now.
d) If governments targets this coin particularly and bans them on every exchange then the liquidity will be no more.

hodap

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Quote from: RussianEnglishTranslation on June 20, 2021, 01:00:07 AM

Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

a) Is Monero as suited for it's stated goal of private transactions as it claims- no, Monero can be tracked by monitoring node traffic and using tools patented by ciphertrace.
b) Is it better suited to this goal than using properly coinjoined btc over Tor- No, both are not safe and likely honeypots.
c) Is Monero actually decentralized to a decent degree- No, the majority of mining is done by cryptojacker malware and one mining pool controls the majority of the hashrate and can 51% attack at any time.
d) Why Monero will fail in the long run- No, due to it's design, Monero can never scale to be used as a world currency due to the time it takes to process bulletproofs, transaction confirmations, block size/centralization limitations.

Due to these reasons and more I sold my Monero for 0xMonero.

As for a), could we run the experiment with a transaction of mine? You put is as if it was no problem to track Monero transactions. Cool, let's assume I believe you, would you be so kind and deliver some proof? What do you need from me to show that you successfully tracked my Monero transaction from one address to another, let's just go for a one step transaction.

RussianEnglishTranslation

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Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

a) Is Monero as suited for it's stated goal of private transactions as it claims- no, Monero can be tracked by monitoring node traffic and using tools patented by ciphertrace.
b) Is it better suited to this goal than using properly coinjoined btc over Tor- No, both are not safe and likely honeypots.
c) Is Monero actually decentralized to a decent degree- No, the majority of mining is done by cryptojacker malware and one mining pool controls the majority of the hashrate and can 51% attack at any time.
d) Why Monero will fail in the long run- No, due to it's design, Monero can never scale to be used as a world currency due to the time it takes to process bulletproofs, transaction confirmations, block size/centralization limitations.

Due to these reasons and more I sold my Monero for 0xMonero.

MusaMohamed

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Quote from: defa1 on June 19, 2021, 10:15:25 AM

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

Monero is the best privacy coin. You can see the explanation and guide of admin. [Guide] Decent mixing methods.

Nobody is able to trace Monero transactions and successfully break its privacy and anonymity.

Whether the Monero network decentralized or not and how decentralized it is? It is decentralized but is not a biggest altcoin network that belongs to Ethereum network.

Monero falls in long term because governments force exchanges to delist it and there are FUD that Monero transactions can be broken down, and its anonymous transactions will be broken soon.

hodap

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Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

If I may throw my hat in the ring as well:

a) For now it is indeed, as far as everyone knows, suited for its stated goal of private transactions. It does work like magic money and you can't trace it
b) Using properly conjoined btc over TOR requires long-term commitment to not get it wrong. The emphasis should be put on "properly" here. Also, a TOR node can be malicious and be operated by an agency you wouldn't expect to be the operator.
c) It is a proof of work coin. I don't know the exact mining distribution right now, but the incentive structure is properly set up such that under pretty much most circumstances you should expect a sufficient degree of decentralization. Power over the network comes at significant cost. This does not exclude the possibility for various attack vectors to exist (51% attack)
d) This a question that nobody can answer. How good is the locker to your safe? Sufficiently good to protect your assets until the day it gets cracked. Will it get cracked? Maybe not, awesome. But if it does, it did well until the day it got cracked.

$anounimus$

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Quote from: defa1 on June 19, 2021, 11:05:00 AM

The fact that exchange delist it is of no concern to me. Not all exchanges delist it by the way, you can buy it on Kraken. But you didn't really answer my question.

You can look elsewhere if in this place you do not find the right answer, or you can wait for someone else to provide an answer that is more appropriate for you, the point is not to complain about trivial things.

covfefe_

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Monero haven't failed. They are the most successful cryptonight coin. Though they are often associated with darkweb markets, it's one of the coins with high real use case. It's more decentralized and peer to peer than most of the coins as they actively modify the code to discourage dedicated ASIC being made to mine Monero. That's why they are still mineable by GPU and with small numbers even by individuals.

defa1

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The fact that exchange delist it is of no concern to me. Not all exchanges delist it by the way, you can buy it on Kraken. But you didn't really answer my question.

seoincorporation

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Quote from: defa1 on June 19, 2021, 10:15:25 AM

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

Monero is an anonymous coin, and that's a problem for the exchanges because their business is to track the money and the users, but monero makes the job terribly hard for them. That's why some exchanges delisted it.

The code behind monero makes it impossible to track the transaction or the money, if you go to a monero block explorer you will only see transactions with fake information, things like: Send ? To ?, the address you see in the block explorer are not the real ones, that makes it hard to track it. And if you really want to understand how it works then you should read this book: https://masteringmonero.com/

Monero will not fail in the long run, you can be sure of that.

defa1

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Activity: 55

Merit: 67

I've been in crypto for the last 4 years and I've been a maxi for the last 3. However, I've always had respect for the Monero project. Can somebody make the case why Monero does not live up to it's promises / is a scam / will fail?

More specifically I'm interested in the hearing arguments about the following issues:

a) Is Monero as suited for it's stated goal of private transactions as it claims
b) Is it better suited to this goal than using properly coinjoined btc over Tor
c) Is Monero actually decentralized to a decent degree
d) Why Monero will fail in the long run

Topic: Question about Monero from a Bitcoin maxi (Read 117 times)