TY :) I recommend Monero(.) com vs Cake since IMO it's better for security/isolation to have a dedicated wallet for one currency only. And, yes, the idea is to keep the GOS Pixel offline unless you need to spend, don't ever connect to cell, no SIM, home network with always-on VPN/Tor/Orbot etc.
Discussion
Wino.
I love you Bro, but encouraging shitcoinery will not serve the cause of freedom.
Good sir, you must know thatās the last thing Iād do. Note my OP, I convinced my friend to sell all her ācryptoā for Bitcoin and buy a cold card. She downright refused to sell the Monero (and fwiw Iām not all that convinced that Monero is a shitcoin... from my limited knowledge, it strikes me as a bit closer to cash in terms of default privacy, at least under certain threat models. A strong contrast to some silly/scammy token that ignorant people buy into, to increase their fiat net worth. But thatās a different discussion, lol)
In any case, and regardless of the above, since she was choosing to hold some, I really really donāt want her using Ledger Live for it. My understanding is that Ledger tracks every action, click, balance, etc., that one does in their app. So for someone I care about, who is using Monero for its privacy benefits, I worry about her compromising her security.
I save in Bitcoin. I encourage my friends to do the same, and to sell everything else, any time they ask. And plenty of times when they donāt š
But I worry that *not* talking about general best practices when relevant - usually due to social fear around discussing āhe-who-must-not-be-namedā (ie anything that isnāt Bitcoin) ā will put people we care about in situations they can avoid.
Ya get what I mean?
Also, love you too homie š«
Thanks for that Holmes. I was worried about you for a minute.
When I first got involved I mined using the Equihash algo because I didn't know any better (ZEN, ZEC, HUSH, etc.) but then the light of Satoshi shined on my and I sold my earnings for Bitcoin and the rest is history.
No need to worry here, my friend š¤
I do maintain a healthy curiosity about Monero, if for no other reason than that the people who I see support it are about as Bitcoin-y as it gets, with a strong penchant for privacy, libertarianism, āthe worksā.
My day to day life doesnāt really require a perfectly anonymous digital cash, and Iām technically competent enough to use Bitcoin in a sufficiently private way. So itās more of an intellectual curiosity and feeling like I donāt know enough about it to hodl a strong opinion.
But I can imagine a world where Monero is something that retains its use case. Especially considering absence of all the numb-nuts āwen moonā wiz-idiots that you see with all the crypto tokeny crap lol
At the same time, itās not something I feel drive to put energy into, because Bitcoin is the thing that fixes the world, if we all do this right.
Also I have never even heard of these tokens š¤£š¤£š¤£
Monero is not a shitcoin...Bro.
It surely is. Like all of them, it has a "use case" which in Monero's case is just privacy, but is has the privacy stink on it and will never be accepted anywhere as legitimate cash.
I had some once Bro, but in order to use it I had to convert it to Bitcoin at a non-KYC exchange at a huge discount.
Do you think the DEX like trocador.app or changenow expensive? What about nostr:npub1j9qyxka5lck4tw50v7qfrs6gdwczz5ydt7ugqy6nhuva9p6dpy5q8rs2yg's buy.cakepay.com?
I exchanged years ago.
The point is that Monero is an aborted fetus that has no "use case" unless it is exchanged into something that is useful for spending. Certainly it is losing value against Bitcoin in the long term, no?
Iād agree with āā¦has no āuse caseā for youā. Monero, same as Bitcoin is not for everybody, it depends on oneās needs and strategy.
The beautyās in the eye of the beHODLER.
But it is undeniable that for sometimes it has a āuse caseā in fact could be the ONLY āuse caseā: the ones you imagine plus I want to remark another: In nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx's nostr:npub10atn74wcwh8gahzj3m0cy22fl54tn7wxtkg55spz2e3mpf5hhcrs4602w3 #127 with Anya Chekhovich, in fact they are using monero among others.
About the XMRBTC chart it definitely looks so. But comparing XMRBTC with BTCUSD It is obvious that XMR performs excellent on the BTC bear markets. Does it ring any bell?
You are showcasing your ignorance. You neither speak from experience nor from knowledge and wisdom.
Monero's use case includes privacy
It incentivises running nodes through CPU mining and extra privacy guarantees.
It's tail emission at levels of BTC is meant to secure the chain for centuries.
Fungibility is the most important function of real money vs other assets like cash, stocks, gold and Bitcoin's that makes Monero unique
Hedge against the downsides with Bitcoin and gold and you will have a more powerful combination if tools at the cost of destroying your ignorance..
My ignorance shows yours. All you have to do is look at the hash rate and market cap of monero to see where its going...
What do you mean by āwhere itās goingā? Are you referring to price, adoption, development?
Again, my experience here is minimal, but one thing Iāve noticed thatās very different about Monero is that I rarely hear proponents suggesting that you should āinvestā in XMR, or that the price matters, or any of the other scammy marketing stuff that shitcoins are known for.
Instead, it seems like the only reason Monero users care about adding more users is that it adds to the anonymity set (just like with Tor users, or coinjoin participants) to enhance the privacy in transactions.
It also seems like Monero peeps donāt really care if the fiat price goes up ā in that yes, asset appreciation is always preferred, but the point of the currency is a cash-like spending function, rather than an āinvestmentā or a savings account.
Now, itās not Bitcoin. Thatās for sure. Itās not the ābest store of value the world has ever seenā, and itās probably not going up forever Laura š
But when I think about what defines a shitcoin, I think of:
1) a centralized issuer, usually holding their pre-mined coins to dump on new buyers
2) lots of marketing about why itās a āgood investmentā or solves some techy/obscure problem that doesnāt really exist
3) Hype about what the token āwill doā on a roadmap full of empty promises
And when I think honestly about it, I donāt think Monero checks the shitcoin boxes. If I needed to purchase something online or through a digital medium, and wanted easy, near-perfect privacy (or secrecy), Monero seems like a really good way to achieve that purpose.
Itās not how I would store my wealth. And itās not something I would recommend to people, because I donāt know nearly enough about it. I only recommend Bitcoin because I have spent hundreds, if not thousands, of hours studying and using it. So I feel confident in recommending it.
But if itās simple question of, āIs Monero a shitcoin?ā, defined by the numbered list above (or as a silly crypto/blockchain token created for the primary purpose of extracting wealth from retail investors under false premises of a made-up use case)ā¦ Iād argue itās probably not.
My two sats š«”
I appreciate your thoughts but could you give me a half dozen examples of any well known shop or chain that accepts XMR in any kind of circular economy?
Oh, and...
And thanks for engaging! I appreciate the opportunity to think more deeply about this, question our assumptions and premises, try to be as intellectually honest as I can when evaluating the concepts here.
Re: Agora Desk, if understand the press release, itās namely due to better options being out there to acquire Monero..?
As for businesses that accept Monero, I would imagine thereās probably at least one rather large, international industry (for starters) that perhaps used Bitcoin in the past and prefers Monero neā¦ but itās not one that I feel particularly comfortable discussing on a public, permanent protocol š
But more importantly, the āonly XYZ uses this toolā argument is the same logical fallacy that gave rise to the Bitcoin meme of āonly small countries own itā. Itās just so damn early and, perhaps more importantly, I donāt think Monero would require widespread adoption to be useful to those who want it. Again, why I donāt *think* it qualifies as a shitcoin. It doesnāt matter much, whether itās widely adopted or accepted, as long as people and businesses who wish to use it for private/secret transactions are able to do so. Like one could almost think of it as an āinvisibility cloakā over your fiat cash, to spend money with excellent privacy, and not ever need it to be more than that, for it to āsucceedā at what I understand its purpose to be.
Not an investment, not a store of value, not a token to sell to the next idiot in order to stack more fiat. Just a bunch of code that helps people make purchases in private.
Again, I say this not as a holder or proponent of Monero, but as someone with a genuine interest in digital privacy, and a personal interest in the wellbeing of my friend who sparked these questions in the first place š«”
"has the privacy stink on it and will never be accepted anywhere as legitimate cash."
Which one is it? Does privacy have a "stink" on it or is cash legitimate? Can't be both
Appreciate you š¤š„š¤
I think the graphene setup is going to be too technical for this one, lol
Then Trezor?
Thatās what Iām thinking. She was asking about HWWs so I think thatās the comfortable/familiar move. Unless you can use something like Cake or m()com on desktop with a ledger attached, and not ever have to open the ledger live app again? I recall doing this with Electrum wallet when I first got a ledger for my Bitcoin (and then realized ledger live is ass)
You can :)
About the hardware wallets Iād like to add the possibility of using a virtual machine
Thoughts on Cake Labsā privacy policy as linked in the Apple App Store? Iām always a little skeptical of Apple applications & iOS appsā privacy assurances, but also recognize this is pretty much par for the course when using Apple productsā¦
https://raw.githubusercontent.com/cake-tech/cake_wallet/main/PRIVACY.md