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.
That will be damn useful for me being blind and needing text transcription from images. However, I would have to make sure one of the open source models could do it instead because I absolutely refuse to use closed source software whenever 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.
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
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.
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.
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.
It's Bitcoin that either won't be accepted, will be accepted and then confiscated, or will be accepted at less than the market price, because it has a bad history. This thankfully cannot be done with Monero, which is why I prefer it because I don't think my money should have a history associated with it.
Over your infinite life, you mean? Oh, wait... Monero has a tail emission in order to make back lost coins. So eventually, it will level out to where 432 Monero are lost per day through loss of private keys, etc. And 432 Monero are created per day through the tail emission. Tail emission fixes lost coins and it also continues to incentivize the miners to create blocks without fees skyrocketing through the stratosphere.
Is it were being offered for monero, yeah, probably.
And this is how you find the people who truly do not get the revolution and what it was intended for.
nostr:note106hxyy2ls86chnv44uvfp80d7z3mu44leffw60lxjetgmj2exdlq6z50vc
I just don't see Bitcoin as a way of achieving this since Bitcoin is totally transparent. Monero, on the other hand, might actually be able to do this.
AlaskaAnon is a very based sovereign individual
Watchman Privacy: 147 - Living Monero: AlaskaAnon
Episode webpage: https://watchmanprivacy.com/2024/12/23/147-living-monero-alaskaanon/
Media file: https://traffic.libsyn.com/secure/watchmanprivacy/147_Living_Monero_AlaskaAnon.mp3
That was a very good episode, and I highly encourage people to give it a watch.
I watched the episode and it was a really good show.
So X had to suppress Taylor Swift due to AI generated nudes https://video.nostr.build/f1f44c1d98e31f55125f5158be5ef960ba8af7db8ae52ea1a465fdfe81c9d389.mp4
This is really cool!
I was just thinking last night that it's a good thing that Santa isn't a stoner, because he'd light up a joint on Christmas, and he'd be like, you know what? These presents have to get delivered, but fuck it, I'm not doing it.
I still do not understand why Taylor Swift replaced the lyric "She's better known for the things that she does on the mattress" in better than revenge.
#TaylorSwift
just cleaned up my Keepass database a little and did a manual backup.
Watchman Privacy just interviewed AlaskaAnon about being debanked and living on a cash & XMR standard. It was a great teaser episode, but I'd love to hear even more details on how people can get away from the banking industry and move more fully into the parallel economy.
Also, if anyone still uses Twitter, tell AlaskaAnon to get over here to Nostr!
https://www.youtube.com/watch?v=FL0SyY0aHlY
#privacy #xmr #monero #freedom
The one big thing I would like to know is how to pay my monthly mortgage payment in Monero. You can pay lots of things that take a debit or credit card, but paying things that take an ACH transfer is where I would find my stumbling block. The big ones I see that would cause issues would be credit card bills if you have those car payments and mortgage payments since those require aCH transfers.
Found the fake Bitcoiner. Maxis cant handle the truth. We know that you guys are just fiat bitches. All you want is number go up. Moon Lambo boys.