In early 2019, I put 20K in an active investment account with a fancy senior advisor from one of the big companies around. I did it because I wanted some exposure on how investment advisors think. So, I don't direct any purchase and just go with "the flow" they recommend.
It's by far my worst investment ever.
Really, like, stock picking by myself did better than that fund. Lol.
It's never late to stop a mistake
It wasn't a mistake. I like the exposure. It makes me feel smart when I just put everything else on BTC. :)
Huh, you afford a 20k exposure.
Sometimes I forget the caliber of some pockets here.
Bitcoiners these days. Won't put 20k into Monero because it's a shitcoin. Then put 30k into the fiat scam.
Monero is cool and is an ok transactional model, but attracks too much regulatory attention, which affects the price and thus is not ideal as a long term investment vehicle. To me it doesn't make any sense to put any serious money in Monero. But If Monero had a lightning-like layer, it could be a great option for a "checking" account.
it's fast and cheep. why do you need lightning like infrastructure?
(not a fan of monero btw)
2 minutes block time (
or longer... received XMR is not spendable for 10 blocks) is faster than Bitcoin but still REALLY slow for lightning (<2 seconds).
Would say it's better to bridge it with e-cash mints. totally doable. not sure if wanted ...
and then for every payment you send, your whole change has the 10 block lock. So unless you have split coins into different utxos, creating "pocket change" beforehand, you can't keep spending coins shop by shop, or donating note by note on your nostr timeline, you need to wait 10 blocks every time
And this is not changing anytime soon, so since we are getting LN like constructions before getting rid of the 10 block lock, it will be an improvement for these instant finality use cases
in a few months Monero will have FCMPs++ which not only will get rid of Monero's weakest link, decoys, and will make its privacy perfect, it will also enable TX chaining, thus enabling lightning-like payment channel networks. Will this sound, fungible, uncensorable money + lightning fast payments network become the perfect checking account?
And thanks to open networks like Haveno and Nostr we don't need to worry about middlemen's regulatory pushback, we can just p2p fiat money into serious money hehe
recommended watch: https://www.youtube.com/watch?v=jc8Kc0WogAI
Unless I misunderstand how transaction-chaining works, this would not be anything like the lightning network because the transactions would go out one after another sequentially. So you would send transaction 1, wait 10 minutes, send transaction 2, wait 10 minutes, send transaction 3, etc. Again, I could be misunderstanding how it works. But if that is truly the way it works, then the only thing that solves is keeping you from broadcasting a transaction with three outputs or four outputs, etc.
Tx chaining allows you to sign a tx that has not yet been mined, so for eg. we create a 10 XMR output, then we can immediately sign off a second tx that sends 5 XMR to me and 5 XMR to you even if the first one is not mined yet. That way we could have a "refund" mechanism that was a key thing missing to port the LN to Monero as noted here: https://monero.stackexchange.com/questions/12143/what-parts-of-bitcoins-lightning-network-can-be-ported-to-monero
Even if each tx needs a 10 block lock between another, we don't need each other's private view or spend keys to be online to spend the output so we are safe that the "refund" tx can be broadcast and mined
This allows us to create some payment channel designs as kayaba notes here: https://x.com/kayabaNerve/status/1788959848110985658
His latest comment on it (timestamped):
https://www.youtube.com/live/jxPulIjhXwg?si=yA4GfbOKXl6JXRbL&t=5847
Okay, so the 10 block lock cannot be worked around but it allows for refund transactions which weren't able to be done before.
ya basically
a LN alone will require way more to work like using multisigs, timelocks, penaltys... Monero will have to hack around all those things together without scripting to work
Would that limit the channel to only be alive for 20 minutes? Because if so, that doesn't seem like it would be super helpful. I mean sure you could trade back and forth as many times as you wanted within that 20 minute timeframe. But then once it unlocks the refund transaction could be broadcast and undo it all. So you'd have to make sure to settle the state before the 10 block lock finished. Again, I could be totally off base though.
It would need a timelock mechanism as well like it works on BTC so that if there is a newer channel state, like you sent me 1 XMR and the balance is now [ me: 6 XMR <-> 4 XMR: you ] and you try to cheat by publishing the old [ 5 <-> 5 ] XMR state in this 20min window I need time to come back online and broadcast the latest state on-chain and redeem the funds before you are able to broadcast the theft attempt, still not super sure how all of this would work on XMR vs BTC, but this way we can basically let the channel live forever and the optmistic path is we send LN-moneros back and forth no need to close as soon as possible
I believe that Monero did have a timelock mechanism in the recent past, and it was deprecated or removed for some reason. But I do feel like I remember it being discussed. I want to say there was concern about it being unlimited and so you could lock somebody's Monero for like thousands of years and they wouldn't be able to do anything about it.
yeah but there are other papers describing other ways to achieve this as well, like https://eprint.iacr.org/2020/1441 which they call "time lock puzzles" instead, without using the protocol, which sounds like PoW for a few days of time, not sure which method will be preferred by then
There's a lot of really, really smart people working on Monero. That's for sure.
Vou assistir pra entender melhor esse FCMPS ++. Rafael tava usando cake wallet mas carregamento e muito lento , mudei pra monerujo bem mais rápido. Tinha baixado Cawe wallet no f-droid depois descobrir que foi descontinuado lá , era indicado baixar Playstore ou no Accrescent. Baixei no Accrescent ainda continuar lento processamento.
Qual a diferença do carregamento? Você criou uma carteira nova em cada um, ou restaurou uma carteira antiga nos dois e um demorou mais que o outro?
It's about the friends we make along the way...
20k at the beginning of 2019 would have been 5 bitcoins
Thank God for Bitcoin.
Interesting. Did they achieve their own benchmark tho?
No, they didn't even beat the S&P.
Retirement account "managers" intentionally pick "low risk" and "quality" portfolios. They make your money a sitting duck to the hedge fund managers, wall-street tycoons and day traders.
Who do you think these people are making all their money from? It's you.
That's an expensive lesson. Hodling Bitcoin for at least four years outperforms all advisors.
