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Cake day: June 18th, 2023

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  • aldalire@lemmy.dbzer0.comOPtoMonero@monero.townon the monero circular economy
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    51 minutes ago

    Not perfect, but leagues ahead of Monero which has zero L2 and zero roadmap for an L2.

    We’ll get there when we get there. Adoption is gradual. We don’t expect to see Visa level transactions overnight. And as adoption increases steadily, we can increase the capacity and infrastructure of the base layer steadily. The only real reason why Bitcoin needed an L2 was because ya’ll shot yourselves in the foot with the 1mb blocksize.



  • So if Monero wants to be a significant player on par with Bitcoin and have a circular economy, it will need to step up to the plate in a major way, and it needs to do that before Bitcoin implements privacy upgrades that place it at feature parity with Monero, which is imo only a matter of time since those folks tend to be pretty pro privacy

    Overall, not convinced of your argument for a L2 in Monero to be able to be on par with Bitcoin. In fact, I believe that the bitcoin community fell for the layer 2 trap. That high transaction fees on the base layer due to the 1mb blocksize can be solved by a Layer 2, and calling lightning a success is a stretch. It still needs to interact with the base layer to open channels, and your base layer is fucked.


  • Meanwhile over on Bitcoin’s side, they continue to add more functionality to their chain with a massive dev pool in terms of talent and funding

    Very talented, such as deciding to keep a 1mb block size to prevent DDOS attacks in 2010, and refusing to budge even as the entire community begged them to increase because of high transaction fees. Oozing with talent and ingenuity.


  • Hire a data hoarder to host a full node. A 16 tb hard drive will last you a couple years as a monero node if monero takes off, if not a decade, until you need to upgrade. It’s not that hard to create >20, >30tb NAS, with some more room to upgrade. I have a 16tb one myself to store movie files. Nodes are run by hobbyists nowadays anyways. Disk space and bandwidth is cheap and getting cheaper. Decentralization is just another buzzword: nodes will be run by a decentralized network of very motivated, anonymous data hoarders.


  • I haven’t read much of the “monero standard”. I found the writing style abhorrent.

    If i were to write one, I’m thinking more of a general history of crypto and bitcoin, why crypto has value, and how privacy and fungibility is important in a crypto. In the middle maybe giving a practical guide on privacy, advocating to leave a small digital footprint, and using software like tor, i2p, and VPN’s, maybe even a capstone, a guide on how to torrent without getting letters from lowlife lawyers.

    Maybe in the later chapters, an account of the impact of monero in the world, some stats on its adoption in darknet markets, how to buy monero, arguments why monero isn’t a crypto for criminals, and possible uses of it that can improve society.

    It’ll be a book targeted at the layman trying to understand the crypto side of the internet, not just monero.