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Kevin Karhan :verified:<a href="https://pounced-on.me/@finalstaticfox" class="u-url mention" rel="nofollow noopener" target="_blank">@finalstaticfox</a> <a href="https://mastodon.social/@dansup" class="u-url mention" rel="nofollow noopener" target="_blank">@dansup</a> Well, <a href="https://infosec.space/tags/Ethereum" class="mention hashtag" rel="nofollow noopener" target="_blank">#Ethereum</a> is a <a href="https://infosec.space/tags/Shitcoin" class="mention hashtag" rel="nofollow noopener" target="_blank">#Shitcoin</a> and it's "<a href="https://infosec.space/tags/GasWars" class="mention hashtag" rel="nofollow noopener" target="_blank">#GasWars</a>" really make it not conducive to <a href="https://infosec.space/tags/payment" class="mention hashtag" rel="nofollow noopener" target="_blank">#payment</a> applications.<a href="https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=18m17s" rel="nofollow noopener" translate="no" target="_blank">https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=18m17s</a><ul><li>That being said <a href="https://infosec.space/tags/Monero" class="mention hashtag" rel="nofollow noopener" target="_blank">#Monero</a> doesn't have that issue and is also fully <a href="https://infosec.space/tags/private" class="mention hashtag" rel="nofollow noopener" target="_blank">#private</a> as in noone can see the senders' balance, sender, amount sent, beneficiary and their balance without having full access to both wallets. <a href="https://infosec.space/tags/ProofOfStake" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfStake</a> rather increased <a href="https://infosec.space/tags/centralization" class="mention hashtag" rel="nofollow noopener" target="_blank">#centralization</a> compared to <a href="https://infosec.space/tags/ProofOfWork" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfWork</a> just like ASIC-based mining did.</li></ul>Again, I don't deny the problems. I just think it's way less sussy than Western Union or god forbid Hawala...

Kevin Karhan :verified:<a href="https://vmst.io/@maikel" class="u-url mention" rel="nofollow noopener" target="_blank">@maikel</a> basically, it boils down to the few key features of <a href="https://infosec.space/tags/Monero" class="mention hashtag" rel="nofollow noopener" target="_blank">#Monero</a>:<code>1.</code> <a href="https://infosec.space/tags/Anonymity" class="mention hashtag" rel="nofollow noopener" target="_blank">#Anonymity</a> & <a href="https://infosec.space/tags/Privacy" class="mention hashtag" rel="nofollow noopener" target="_blank">#Privacy</a>: Unlike with any other <a href="https://infosec.space/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener" target="_blank">#cryptocurrency</a> (aka. <a href="https://infosec.space/tags/Shitcoins" class="mention hashtag" rel="nofollow noopener" target="_blank">#Shitcoins</a>) it's not just pseudonymous in that there is no mandatory linkage between individuals & their wallets, but the entire transaction history and balance is hidden. Unlike say <a href="https://infosec.space/tags/Bitcoin" class="mention hashtag" rel="nofollow noopener" target="_blank">#Bitcoin</a> or <a href="https://infosec.space/tags/Ethereum" class="mention hashtag" rel="nofollow noopener" target="_blank">#Ethereum</a> one cannot track the coins from the moment of mining to their destination.<code>2.</code> Speed: Monero's network does mine one block every 2 minutes. After 10 blocks any transfered balance gets unlocked for spending. That means that a transfer is completed at worst within 6 minutes and the balance is being unlocked at worst after 24 minutes. This makes it faster than Instant-<a href="https://infosec.space/tags/SEPA" class="mention hashtag" rel="nofollow noopener" target="_blank">#SEPA</a> which only has a 1 hour SLA.<code>3.</code> <a href="https://infosec.space/tags/Fungibility" class="mention hashtag" rel="nofollow noopener" target="_blank">#Fungibility</a>: Like <a href="https://infosec.space/tags/cash" class="mention hashtag" rel="nofollow noopener" target="_blank">#cash</a> all it's coins are equal, since they cannot be tracked. This makes Monero the digital equivalent of cash.<code>4.</code> <a href="https://infosec.space/tags/Scalability" class="mention hashtag" rel="nofollow noopener" target="_blank">#Scalability</a> & <a href="https://infosec.space/tags/Stability" class="mention hashtag" rel="nofollow noopener" target="_blank">#Stability</a>: Monero adaptively self-adjusts block sizes and mining difficulty based upon demand (transactions in it's <code>mempool</code> aka. requested transactions that have to be added to the blockchain) and supply (total blockchain hashrate). Unlike Bitcoin and Ethereum it has a fixed Tail Emission Rate of at least 0,6 <a href="https://infosec.space/tags/XMR" class="mention hashtag" rel="nofollow noopener" target="_blank">#XMR</a> (Monero) per block, so the miners solving it get at least 0,6 XMR (+ transaction fees), which is a longterm stable rate. Bitcoin and Ethereum will necessitate huge transfer fees once their last coins are mined to make sense, which will result in the crash of said cryptocurrencies as they'll be too expensive to trade!<code>5.</code> Anti-<a href="https://infosec.space/tags/ASIC" class="mention hashtag" rel="nofollow noopener" target="_blank">#ASIC</a> and focussed on <a href="https://infosec.space/tags/CPU" class="mention hashtag" rel="nofollow noopener" target="_blank">#CPU</a>|s of general-purpose machines: Whilst it does run on <a href="https://infosec.space/tags/ProofOfWork" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfWork</a>, it's specifically designed to run poorly on <a href="https://infosec.space/tags/GPU" class="mention hashtag" rel="nofollow noopener" target="_blank">#GPU</a>|s and not on <a href="https://infosec.space/tags/ASICs" class="mention hashtag" rel="nofollow noopener" target="_blank">#ASICs</a> as the latter one are not just manufactured <a href="https://infosec.space/tags/eWaste" class="mention hashtag" rel="nofollow noopener" target="_blank">#eWaste</a> but also inherently increase the centralization (with less than a dozen big miners controlling >50% of Bitcoin and Ethereum's hashrate respectably). Thus it's the "least worst" in that regard. <a href="https://infosec.space/tags/ProofOfStake" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfStake</a> is not possible due to it's privacy-based setup (<a href="https://infosec.space/tags/Staking" class="mention hashtag" rel="nofollow noopener" target="_blank">#Staking</a> necessitates a public balance) and unlike a <a href="https://infosec.space/tags/Shitcoin" class="mention hashtag" rel="nofollow noopener" target="_blank">#Shitcoin</a> like <a href="https://infosec.space/tags/FileCoin" class="mention hashtag" rel="nofollow noopener" target="_blank">#FileCoin</a> it doesn't incentivize <a href="https://infosec.space/tags/hoarding" class="mention hashtag" rel="nofollow noopener" target="_blank">#hoarding</a> components. (in this case: <a href="https://infosec.space/tags/HDD" class="mention hashtag" rel="nofollow noopener" target="_blank">#HDD</a>|s)<code>6.</code> Accepted & Convertable: Whilst there is a concerted effort to ban Monero, there are payment processors like <a href="https://infosec.space/tags/NowPayments" class="mention hashtag" rel="nofollow noopener" target="_blank">#NowPayments</a> that accept Monero. It's low transaction fees and good speed make it useable in settings like Restaurants and Online Stores (sadly not retail, because it would need to be like 60x faster)... And even then it's easy to convert to/from Shitcoins.That's the <a href="https://infosec.space/tags/TLDW" class="mention hashtag" rel="nofollow noopener" target="_blank">#TLDW</a> of <a href="https://www.youtube.com/watch?v=B7sLnmlZ-kU" rel="nofollow noopener" target="_blank">Whiteboard Crypto</a>, <a href="https://www.youtube.com/watch?v=QrHsFZBab4U" rel="nofollow noopener" target="_blank">Mental Outlaw</a> and <a href="https://www.youtube.com/watch?v=H33ggs7bh8M" rel="nofollow noopener" target="_blank">The Hated One</a>…And finally:<code>7.</code> Monero gets continously developed and enhanced, whereas Bitcoin, <a href="https://infosec.space/tags/Litecoin" class="mention hashtag" rel="nofollow noopener" target="_blank">#Litecoin</a> and Ethereum don't even do <a href="https://www.youtube.com/watch?v=-3BF_mE2e6M" rel="nofollow noopener" target="_blank">proper</a> <a href="https://infosec.space/tags/upgrades" class="mention hashtag" rel="nofollow noopener" target="_blank">#upgrades</a> via <a href="https://infosec.space/tags/HardForks" class="mention hashtag" rel="nofollow noopener" target="_blank">#HardForks</a> (see <a href="https://infosec.space/tags/EthereumClassic" class="mention hashtag" rel="nofollow noopener" target="_blank">#EthereumClassic</a>)...

Kevin Karhan :verified:<a href="https://berlin.social/@cobordism" class="u-url mention" rel="nofollow noopener" target="_blank">@cobordism</a> <a href="https://mastodon.social/@hyc" class="u-url mention" rel="nofollow noopener" target="_blank">@hyc</a> <a href="https://infosec.space/@voxel" class="u-url mention" rel="nofollow noopener" target="_blank">@voxel</a> Noone claims that <a href="https://infosec.space/tags/Monero" class="mention hashtag" rel="nofollow noopener" target="_blank">#Monero</a> will help "<a href="https://infosec.space/tags/AbolishCapitalism" class="mention hashtag" rel="nofollow noopener" target="_blank">#AbolishCapitalism</a>"!<ul><li>That would be deranged and in complete denial of reality.</li></ul>What is however evident is that only <a href="https://infosec.space/tags/PostPrivacy" class="mention hashtag" rel="nofollow noopener" target="_blank">#PostPrivacy</a> <a href="https://infosec.space/tags/Shitcoins" class="mention hashtag" rel="nofollow noopener" target="_blank">#Shitcoins</a> can do <a href="https://infosec.space/tags/ProofOfStake" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfStake</a> as unlike <a href="https://infosec.space/tags/ProofOfWork" class="mention hashtag" rel="nofollow noopener" target="_blank">#ProofOfWork</a> it inherently necessitates <a href="https://infosec.space/tags/PostPrivacy" class="mention hashtag" rel="nofollow noopener" target="_blank">#PostPrivacy</a> as in <a href="https://mastodon.social/@hyc/114638342299449486" rel="nofollow noopener" target="_blank">all transactions and amounts are public.</a><ul><li>I'm pretty shure that <a href="https://infosec.space/tags/PoS" class="mention hashtag" rel="nofollow noopener" target="_blank">#PoS</a> cannot be implemented (even if <a href="https://infosec.space/tags/Monero" class="mention hashtag" rel="nofollow noopener" target="_blank">#Monero</a> devs wanted it to!) without making removing Monero's <a href="https://infosec.space/tags/privacy" class="mention hashtag" rel="nofollow noopener" target="_blank">#privacy</a> that it can retain under <a href="https://infosec.space/tags/PoW" class="mention hashtag" rel="nofollow noopener" target="_blank">#PoW</a>.</li></ul>Again: I call it <a href="https://infosec.space/@kkarhan/114638656071829798" rel="nofollow noopener" target="_blank">"least worst"</a> for a reason; not "great", "good" or even "okay"...

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