Welcome to the Monero General, the meet up thread for the anti-pajeet cypherpunks who want the ideal form of cryptocurrency – one that is fungible, private, and decentralized. If you are new, feel free to stop by and ask questions and a Monero user will help you out. This week has been the most bullish of 2020. Our BTC ratio and price is at levels not seen since the tail end of the bull run, and our daily transactions totals are breaking all time highs. Adoption has grown significantly on the dark net and from people who are becoming tired of Bitcoin’s refusal to take privacy seriously. On October 17, Monero will implement CLSAG. This is a major scaling update that will reduce the typical transaction size by ~25% and improve verification performance by ~10%, thereby making Monero transactions lighter and faster. Monero has had several other improvements this past year from their researchers and developers, including the network layer privacy-enhancing tech Dandelion ++ and the anti-ASIC proof of work algorithm Random X.
Oh, and make sure to say hi to our newest Monero Waifu! She especially likes anons with unknown amounts of Monero ;).
Shit started another general 2 mins later Oh well might keep the pasta for the next one
Wtf yesterday it was around 7XMR right? Looking damn good
Alexander Thompson
yeah yesterday we had like 20 something people donate 37 xmr. And I woke up today to find out about the based monero whale.
Regarding the pasta, yeah this is something I was going to bring up to the xmr biz squad, but we should probably have a format for these generals. I usually just format the title as /XMR/ Monero General and then I either BS some sort of OP or I use a previous pasta. It would probably be a good idea to have some sort of agreed upon pasta. Yours looked pretty solid.
Is it possible to have a stable coin on Monero chain? Having private stable coin would be a game changer.
James Kelly
Oh boy that would really be something. A stable coin on Monero chain. Wow. Could such a thing be possible? It couldn't be I don't think. It's too good to be true. A stable coin. But on Monero chain. I can't stop thinking about it. Please tell me it's true. Private but also stable. Is it true?
Sebastian Rodriguez
stablecoins are a meme. Why would we want privacy pegged to fiat? Ruins the purpose of decentralized cryptocurrency to be honest and ruins any purpose of holding. Plus, people buy Monero to use it, so those people aren't susceptible to short term volatility like holders.
Daniel Phillips
I prefer 0xMR, it can scale, can't be blacklisted, and it's not inflationary.
Anthony Murphy
Retards.
Why would I want to have a privacy coin that makes me lose sats? It has all the problems of crypto adoption but no upside. The only upside is privacy, which monero already has.
I'd like to see a BASED or AMPL clone on the Monero chain but those require smart contracts. I'm fairly certain that a stable coin would not function on the xmr chain since it does not have smart contract functionality.
However, there are a number of projects that could hypothetically interact with the monero layer and address the stablecoin question.
Personally, I would dig an elastic supply stablecoin that fluctuates 10% and has a constant but slow elastic supply rather than the hard dumping $0.60 dollar stablecoin that dissapears like 5% a day that is scample right now. The once daily rebases are dog shit.
$0.90-1.10 stablecoin that is printable with escrow/locked tokens with an elastic supply to stabilize price sounds too good to be true. Was anyone in this thread in SBTC (soft bitcoin) before they did whatever chinese exit where I got my eth back?
Can someone confirm that the difference between the new "atomic swap" process that is in development and an existing dex like Bisq is that with Bisq there is still a chance that one of the side is malicious and a dispute is required? Am I correct?
Gabriel Reyes
The entire point of atomic swaps is that they remove the exchange entirely. When atomic swaps come out, if you have Bitcoin you can swap it for Monero trustlessly. No exchange required at all. If the swap gets cancelled or interrupted for any reason your BTC or XMR just gets sent back to your address. Now, imagine XMR having atomic swap capabilities with something like ETH...
But with atomic swap you need to know the person with whom you want to exchange assets, right? How is this better than a decentralized exchange?
Parker Peterson
It’s better because you are swapping on the blockchain as opposed to through a program like bisq. The funds are kept on the block chain and swapped. There are fail safe mechanisms in place to make this easier. Of course, one issue is regarding bitcoin taint. How can someone know if somebody has tainted bitcoin or not? It’s a real risk. But still this is a huge innovation that in the long term is bullish as fuck. It really makes the monero Swiss bank meme a reality.
Elijah Sanchez
I only buy xmr from coinflip atm send it to binance then private. None has my real id except atm requires phone number. Could irs track this?
