@MakeCryptoScary Hacker Music https://nitter.gq/t.co/EnMjAx8SHa 84stfivNjMNX4jwHCCtQmTDyxxqVdRqTpdHivgPa3VCWJvPVqvZmab6XhELdfSL1ueUfPEibKuUKTJR6zFSQEE89R4hAR4u
Crypt0-Bear !!Km/ejGedKFC
Joined March 2016
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Privacy Matters
Every day, another #Bitcoin Maximalist discovers the dark side.
Every day, another #Monero Extremist is born.
MONERO EXTREMIST - by @Crypt0_Bear
*Make Crypto Scary Again* 🔊🆙
Released 4 years ago
Still available for free download on the darkweb
Mirror music.makecryptoscaryagain.c…
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In the USA there is no regulation that explicitly prohibits digital cash. Kraken was the only major exchange that had the balls to list it.
Destroying privacy isn't the solution.
Monero is better poised to use existing cash frameworks in the digital age than other crypto projects.
̵P̵r̵̵̵i̵̵̵v̵̵̵a̵̵̵c̵̵̵y̵̵̵ ̵̵̵c̵̵̵o̵̵̵i̵̵̵n̵̵̵ ̵
Digital cash
Regulation around cash acceptance already exists. Using those same guardrails for monero means compliance is actually much easier than for coins with public history.
But monero has no CEO, no VC cabal, no foundation that is going to go shill exchanges. Cypherpunks are not going to go meet with regulators to create a modern digital framework. (And in this environment why would they?)
If you really want to win, go publish an open source digital cash compliance framework. Include things like compliance SOPs for monero that exchanges can integrate into their aml policies. Focus the main strategy around cash in/out flows. Controls are an extension of irl cash, just as a bank would treat cash deposits for SAR reports etc.
Exchanges are not going to go do the work for you especially for an open source coin without a PR team.
In proof of work you don't need to own or spend the asset to earn it.
The matrix of control can't own what it can't see.
The means of production for cryptocurrency are one of the following:
1) Funds for POS
2) Hashrate for POW
For POW the following:
a) - ASICS and industrial power for asic friendly algos
b)- People's machines for ASIC resistant algos
Asics have an economy of scale which trends towards centralization. (Power, new asics, large scale datacenters). Each of these become potential bottlenecks for central control.
Asic resistant algos require CPUs to mine. There is no inherit advantage to centralize. This is because CPU design is not led by optimizing for RANDOMX but by other factors. CPU design is extremely expensive and requires a lot of capital by companies. This capital investment is higher than any ASIC company could ever get for their one single algo chips.
CPU mining also ensures any person can buy consumer grade hardware from anywhere and start mining that same day. There is no specialty vendor, chips or store that they must order from. This freedom to use commodity computers for mining means it is harder to corner and coax into submission through tracking of who buys or owns specialty hardware.
POS is more easily tracked through exchanges. The built in privacy a currency offers is negligible since the exchange has an inside look into money flows in and out. Computing the ownership of a user can then lead to directly computing the potential production capability off that user.
When it comes to POS, ideological reasons aside, my biggest qualm about it is: If you are not allowed to buy it, how do you mine it?
There is a reason none of the qubic miners are open source.
Useful Proof of Work is not real. Yeah, (You) QUBIC
It has been tried before.
Primecoin (2013), curecoin (2014), folding@home coins
POW has to be hard to solve but easy to verify.
Usefulness is a paradox to this
Qubic tries to handwaves this away with computors scoring the trained model.
A thread clearing the air on QUBIC mining 🧵
Some of the "solutions" involve adding centralized failure points.
Someone is being malicious to fund their token's buybacks. That's it.
Literally beat him at his own game and his whole project goes into a price death spiral.
In a fight, if someone throws a punch you throw one back harder.
You don't try and change the law of physics to make their punches hurt less.
Qubic is an economic attack funded by circular rehypothecation.
A competing pool with the same tokenomics would accelerate their spend to force their price death spiral.
ALL WITHOUT ANY TECHNICAL CHANGE TO MONERO
Crypt0 ₿ear retweeted
I miss the old Bitcoin.
The cypherpunk code Bitcoin.
The no blockstream, run your own node Bitcoin.
I miss the bold Bitcoin.
The screw the Fed, gold Bitcoin.
Not the ETF, BlackRock-sold Bitcoin.
