Replying to Avatar Saberhagen The Nameless

I've been using RetoSwap since it came out earlier last year and have had no problems. But it still seems like good points you bring up.

Any ideas on what could improve Haveno in this regard?

What would you say are some downsides of using OpenMonero vs Haveno?

I'm open to using OpenMonero, but seems very new. I just think you guys need more time to build trust and reputation with the community at large. It seems like you guys are also a similar model to LocalMonero so have the same centralized point of failure(which I hoped we could get away from). Maybe the only difference being you're operating somewhat anonymously?(true?)
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894c61fd... 10mo ago đź’¬ 1

Let's be real, nothing comes for free. The fact that there are no arbitration fees on the retoswap network might make you think that users are actually the product. If you dig a little deeper, you'll find a bunch of issues, with the risk of exit scams being a big one.

A decentralized node network is only secure if there's no admin who can circumvent the rules. To address the exit scam issue, either eliminate the admin or remove the liquidity.

People want to trade online without the hassle of installing software, which can threaten their privacy. Trusting someone to keep your computer safe isn’t easy, and even open-source code can have hidden risks since most don’t compile it themselves. With OpenMonero, you can avoid those worries because it’s just a website that doesn’t need permissions.

The built-in non-custodial wallet for haveno funds isn’t very secure either, since private keys could be logged, and the project isn’t truly decentralized. The GitHub repo isn’t easy to fork, it’s built in Java and is pretty complicated. The more complex the code is, the tougher it gets for developers to spot vulnerabilities or malicious code.

Haveno is better at resisting censorship than OpenMonero, but this mainly benefits the admin. Without a reputation system, vendors can't import any stats to other platforms, leaving their accounts on Haveno fairly low in value. It’s unlikely that any former LocalMonero vendor, who has built up their reputation over the years, would want to use this system.

OpenMonero launched in June 2024, and I've recently started promoting it on social media. I encourage you to check out our list of over 150 verified vendors, including respected LocalMonero traders. If these vendors have confidence in the platform, users are likely to feel the same way.

Vendor list: https://nojs.openmonero.com/guides/how-to-import-reputation#cachedUserList

Reference: https://simplifiedprivacy.com/openmonero-interview-with-the-dev/compared-to-reto.html

Reference: https://primal.net/e/nevent1qqsq2pcudt9rdq4wwpk7r784fwr5h0lt4fhzj6cvaeckurla6wg29dqkrrz7a

#Privacy #Markets #HiddenService #News #Work #Monero #Crypto #Hacking #HarmReduction #Guides #Bisq #cakewallet #haveno #retoswap #trading #p2p #escrow #localmonero #dex #cex #moneroju #xmrbaazar #security #agorism #cypherphunk

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ede3d957... 10mo ago

Good critique of Haveno, but it would be more helpful if you point to solutions outside of OpenMonero, which comes with plenty of downsides itself.

If your product is indeed as good as LocalMonero, which will only be proven over time you could just welcome healthy competition with Serai and Haveno instead of marketing OM as the superior solution that it is not.

It's a valuable contribution, though.

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shortwavesurfer2009 10mo ago

There will be fees on Reto again after December of 2025. The only reason there are not fees currently is because there is an agreement in place with some people from the Monero community who are funding it until there is more volume. Ask in the SimpleX room.