/biz/ - Business & Finance

Someone donated 260k USD for the Monero CCS Funding for Monero Bitcoin Atomic Swaps Implementation.

I assume that there is an substantial Need for Swapping BTC to Monero kyc free without an CEX

Almost Raised 2150.37 of 2727 XMR

>>23237438
i was worried if the 2727 goal could be met, but damn, there are some generous xmr whales out there

>>23237438
yes!! I just saw this. For the unaware: https://ccs.getmonero.org/proposals/h4sh3d-atomic-swap-implementation.html

Shit started another general 2 mins later
Oh well might keep the pasta for the next one

>>23237510
Wtf yesterday it was around 7XMR right?
Looking damn good

>>23237621
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.

updated daily transactions

Is it possible to have a stable coin on Monero chain? Having private stable coin would be a game changer.

>>23237881
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?

>>23237881
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.

I prefer 0x<>MR, it can scale, can't be blacklisted, and it's not inflationary.

>>23238114
>>23237881
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 have a 10th of a monero :)

>>23238413
*an unknown amount

>>23238413
Are you a poorfag?

>>23237416

>>23238348
>>23237881

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?

>>23237438
Goddamn that's impressive. I've never seen this much XMR get thrown at *any* CCS proposal, the whales must want atomic swaps really badly.

>>23238511
yea but its okay :)

>>23239185
>whales
*dealers

>>23239218
lol it may have been mr. white

>>23237416
Comfiest hold in all of crypto, bar none

>>23237416
She looks a bit like biz's queen, pic related.

>>23239592
Disgusting

>>23239592
blasphemy

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?

>>23239676
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...

>>23239602
>>23239641
But I like Arinka!

>>23239728
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?

>>23239765
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.

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?

>>23240017
Why do you send monero to binance?

>>23240014
>one issue is regarding bitcoin taint. How can someone know if somebody has tainted bitcoin or not?
I came here to ask about this. Not sure how they will solve this problem, especially since they are addressing the worst case scenario in which XMR is banned on all exchanges.

>>23240441
Ironically you would have to have bitcoin provided from somewhere with kyc. Otherwise bitcoin without it would be at a lower premium because of potential taint. It’s a dilemma, but as I said earlier this innovation is so big anyway that I’m confident that a workaround will be found.

>>23237881
Stablecoins like USDT and USDC have custodians. Stablecoins like DAI depend on oracles.
Custodians and oracles are attack vectors for censorship.
The only advantage of decentralization is censorship resistance.

0x,,MR is easier to use, has a larger ecosystem of exchanges and wallets, scalable, cannot be blacklisted, limited supply, fungible, and isn't banned.

>>23240796
Begone shill

>>23239592
>>23239731
ngl I would go through a thread of her shilling monero

>>23240796
Kek literally every one of those is false. You pajeets are silly

>>23240441
The risk of receiving tainted BTC already exists if you sell XMR on Bisq or Morphtoken.
Atomic swaps would have the same taint risk, but they would remove the custodial risk of the trade.
Public ledger coins may continue diverging into two different systems:
System A: Rejects tainted BTC or requires extra documents/provenance if your BTC is tainted.
System B: Accepts tainted BTC.
Users who want to use BTC in System B would be fine with atomic swapping XMR for random BTC.
If the prices of BTC in System A and System B diverge, there would be arbitrageurs who specialize in moving BTC from System B to System A in order to earn a %.

>>23241130
For most normal users the Monero CLI is too difficult compared to a simple wallet like Torus.

Ethereum tokens can be traded on dozens of exchanges and wallets. There are estimated to be over 200k Ethereum developers vs Monero's 200.

Ethereum can scale with L2, zk-rollups, sharding etc. to an estimated 160k tps. Monero can't scale beyond 5tps.

UTXO coins carry a history with them of every where they have been since they were created. Ethereum is account based and individual tokens have no identifier. If a suspect wallet sends BAT for example to another wallet that has BAT tokens, there is no way to determine which of the BAT tokens are tainted. Ethereum tokens cannot be blacklisted.

Monero has an infinite suppy, 0x<>MR does not.

Monero is being banned around the world and is only available on a couple of exchanges with fiat on ramps. Monero is loosing it's fungibility.

Monero can be banned from centralized exchanges and platforms but Ethereum tokens cannot be banned because the majority of the ecosystem is built on decentralized smart contracts. If a platform tries to gatekeep a token, that project can just fork the platform that's cockblocking.

>>23237881
You can already have something like an implicit Monero stable coin. You just need to short XMR on some exchange (you or just some party you trust) and control a corresponding amount of XMR on the chain to do your shady business. Any losses that occur by the real XMR will be offset by your short and vice versa. If XMR gains in value your position will stay the same because you accumulate losses from the short.
However, strongly advise to just hold XMR as it is set to appreciate imho.

>>23241656
>For most normal users the Monero CLI is too difficult compared to a simple wallet like Torus.
there are literally more types of wallets for Monero than vendors that accept 0xmonero as payment.
>Ethereum tokens can be traded on dozens of exchanges and wallets
and 0xmonero is not
>200k Ethereum developers vs Monero's 200.
and there is one stinky pajeet 'working' on your shitcoin
>Ethereum can scale with L2, zk-rollups, sharding etc.
soon tm
>Ethereum tokens cannot be blacklisted.
yeah it's not like the kucoin hacker had coins blacklisted or anything
>Monero has an infinite suppy
fucking lol
>Monero is being banned around the world
lol
>Monero is loosing it's fungibility.
lol

Is the ride finally slowing down or starting up again?

>>23241656
Quite imaginative.
Bashing XMR in favor of ETH to shill some low tier XMR-fork .

>>23241983
Monero wallets do not provide all of Monero's features unless you run the desktop wallet with a CLI.

0xMonero can be held in any Ethereum compatible wallet. 0xMonero is currently traded on approx 9 exchanges but can be traded easily on dozens more if liquidity is added to the trading pair by the user.

Sharding mainnet released yesterday, ETH 2.0 final testnet was successfully run today. L2 platforms like zk-synch, loopring, pillar and "sidechains" like xDai Chain and Matic work now.

You can blacklist coins that are UTXO, you cannot blacklist tokens because they are account based and exist in the EVM and have no identifier. You can only blacklist a wallet. That wallet could easily interact with a decentralized exchange or dapp and have the contract send funds to a different wallet. There would be no link between the blacklisted wallet and receiving wallet, only a contract interaction would be visible. You could also use tornado cash or 0xMixer (later this month) with zk-SNARKs to hide transactions.

Monero has an infinite supply. not debateable

Monero is being banned around the world. not debateable

Monero is losing it's fungibility because the number of places that accept it in exchange for fiat is falling rapidly.

>>23242317
be gone retard

>>23242317
It would be fairly easy for chainanlysis to profile every tornado input/output and trace many of them.
In tornado's entire history, it has only received 1923 x 100 ETH = 192k ETH ($75m)
$75m probably moves through XMR every week or two.
There is $2.3B worth of coins in Monero's "shielded pool" currently.
That's 30x bigger if we assume there is $75m in tornado's shielded pool. In reality it's probably much less than that.
It's honestly dangerous to rely only on tornado without trading through XMR.
You are giving wrong and dangerous advice.

>>23242183
But captain, the future of privacy is Ethereum.

>>23242361
I gotta say, normally pajeet scams leave after a month but this guy is like herpes. Just keeps reappearing.

>>23237416
>cypherpunks
Please don't post cringe.

>>23242464
nobody believes his lies anyway

>>23242393
https://explore.duneanalytics.com/public/dashboards/UEU02CHiGtNw9crfeD6OJ7bKPnvFtNjOgZ7Vc6uj

over 225,000 ETH

but you fail to realize that Monero has to use stealth addresses, ring signatures etc. because it is UTXO based. You don't need all of that with Ethereum, you only need to send to a contract and later have that contract send to a different address. If the contract belongs to a dex or tipbot or game for example, there is no way to link the deposit and withdrawal other than time based analysis and transaction size. If you take your time with the contract, or on L2, it's unrealistic that your transaction could be tracked, even without using zk-SNARKs. Tokens themselves have no identifying information or history.

>>23238242
>eth
>scale

>>23242559

>>23238520
Honey bowl

>>23239728
Eth is such a worthless shitcoin. Great for ponzi schemes and nothing else.

>>23242464
Tt's just the same guy who spams it over and over again. There are only 300 addresses with his 0x token.
Shit is supposedly a private mineable token on Ethereum and it's basically a copy & paste of another mineable token project, 0xBitcoin. If you compare codes from both projects with a plagiarism checker, you'll see that they're a match, as the "dev" only changed the token supply and decimal places.
There are even direct references to 0xBitcoin in his smart contract, and descriptions of 0xBitcoin's token supply and decimal places.
tl;dr: incompetent dev stole code left and right, left behind immutable evidence on smart contract, project is based on an empty promise with nothing to show for and now they spam here.

>>23242731
That's an interesting statement, it's the #1 smart contract platform and #2 marketcap. The most valuable thing about it is arguably the fact that billions of dollars worth of stablecoins are built on it.

I'm giving you fair warning that privacy is coming to Ethereum. You can get on board the life raft (0xMR) now or you can sink with the ship, your choice.

>>23241656
>200k Ethereum developers
>create ponzi token
>look I'm a developer

>>23242763
The project is barely 6 months old, it takes time to build a functioning zk-SNARKs mixer friend.

As to the contract, it's an EIP918 mineable contract, which is completely open source. The contract is only for fair distribution of 0xMR as the project is multi-chain and multi-contract. The current contract is not their final contract, a first layer privacy zkERC20 standard token is.

>>23242811
You want to help fluffy pedo buy a new million dollar watch, by all means continue.

>>23242794
>smart contrac

ETH is a useful shitcoin but still a shitcoin. It's not absolutely necessary for any essential usecase.

>>23242531
>https://explore.duneanalytics.com/public/dashboards/UEU02CHiGtNw9crfeD6OJ7bKPnvFtNjOgZ7Vc6uj
Interesting stats. It's even worse than I thought. There is only 30k ETH ($11.4m) in tornado's shielded pool. Monero has $2.2B worth of coins in its' "shielded pool", almost 200x larger.
Tornado has less than $10m weekly deposits/withdrawals. We can't see how much moves through XMR per week, but it's probably at least an order of magnitude larger as well. You can also use XMR for payments without withdrawing it from the "shielded pool".
Even if you avoid having your tornado inputs/outputs profiled - if the other participants don't take proper precautions, you could be profiled/traced by process of elmination.
I'm not even going to analyze 0xMonero because it's less than $1m marketcap. In theory it could be great. In practice the network effect is so small that it's useless and dangerous for privacy protection.

>>23242892
You've gotta be the same schizo from the other day. Thanks for bumping the thread.

>>23242865
>the project is barely 6 months old, it takes time to build a functioning zk-SNARKs mixer friend.
Bottom line:
0xMonero:
- has nothing to do with Monero
- has no actual privacy features of any kind
- relies on an uncredited rip of another smart contract (0xBitcoin's)
- relies on mining software they didn't write (written for 0xBitcoin)
- has not one line of original code related to any of the things they claim to be working on
does not dispute any of this
- keeps promoting 0xMonero

Why the fuck are we even arguing with that 0xMonero scam? Don't feed the troll.

Monero's price by EOY2021?

>>23243174
$999-$9999

>>23243174
>9000 USD

>>23242963
Once again, I think you are missing the point, you don't need to mix all transactions using zk-SNARKs to make them private on Ethereum, you only need to send tokens to a contract and have the contract send to a different address that what was used to deposit. Tokens do not have identifying information like Monero and Bitcoin "UTXO" that needs to be hidden.

>>23243239
Hiding addresses and who send how much to whom are also comfy features.

>>23243306
available right now.

>>23243150
I have seen many other Ethereum users giving the same dangerous advice. Advising people to rely soley on tornado without mentioning XMR.
If I were an ERC20 token scammer, I would send my ill gotten ETH through tornado. Then swap the ETH for XMR on Morphtoken or Localmonero for the ultimate privacy protection and peace of mind.

>>23243015
The founders created 0xMonero because they believed a better Monero could be built on Ethereum using smart contracts.

Actually there are several privacy features out of the box, just by virtue of being a mineable token on Ethereum and being account based. Combine those features with L2 transactions off-chain and existing token bridges and you cannot track 0xMonero.

It took a years for LINK to release a working product and they raised millions of dollars in an ICO. 0xMonero doesn't want your money, they are building privacy on Ethereum for the ecosystem.

I think what you are failing to realize is how different Ethereum is vs UTXO based blockchains and how transactions work. The techniques one uses to hide transactions are completely different.

>>23243306
You can do that now on L2, even without zk-SNARKs.

>>23238242
shut the fuck up you street shitting commie pajeet faggot nigger kike.

>>23243351
Tornado cash is dangerous to use and you can get caught, not because zk-SNARKs doesn't work but because contract interactions say "Tornado Cash"!!! 0xMixer won't have that problem.

>>23243201
I’m not at a make it stack yet for those numbers, but I will definitely sell the peak and buy back in to increase my stack tenfold at the bottom of the next bear market

account based anything will leave you with no funds after getting your accoubt banned for saying gamer words or for no reason at all. I use mobero to donate a website whose bitcohen wallet is banned from most exchanges. Now tell me why your account based scam will protect anyone from that.

Actually, don't bother telling me and just fuck off.

>>23243508
Yes, deposit your ETH or token in a contract like a dex or dapp or L2 wallet then specify a different receiving address.

Etherscan will show the wallet being watched sent to a contract only. There will be no link from the original wallet to the receiving wallet.

Use the new wallet to deposit in your game or website or whatever you are trying to do. The wallet will not be linked to the old wallet. The Ethereum or tokens have no identifying history and will not be linked to the original wallet.

As long as you use a contract with a large amount of transaction, and delay your send to the final wallet, chainanalysis should not be able to find the origin of the funds.

>>23242509
Embrace the cringe anon we are on a Mongolian hobby website
>>23243150
Yeah we usually ignore him. Sometimes it’s fun though. Plus he bumps our generals so we gotta give him some attention every now and then.

>>23243439
you're having this complete disconnect between shilling a token on the Eth network and fudding Eth.

can someone please help me out? my XMR gui wallet is synced, latest version and i still cant send a transaction. been days and zero confirmations. please help i just want a russian wife
>>23243042

Does monero have a chance to have smart contract or second layer one day? Same question for multisig.
Being nearly all in monero have never been so fucking comfy

>>23243664
Not following you. Is it because I said Tornado cash shouldn't show their contract name? You don't have to name a contract, you can leave it numbers or name it Cryptokitties etc.

>>23243710
https://github.com/monero-project/monero-gui/issues/3140

>>23243753
Monero devs have already said they're never going to bother with smart contracts. Facelifting the protocol to implement that would create a bajillion bugs, would compromise privacy and they're of the opinion it's just unneeded.

>>23243753
>smart contracts
No, although Tari is sort of doing its own thing. Frankly I don’t understand it but it will be merge mined with Monero and is all about digital assets and Tokens.
>second layer
Yeah monero will likely parrot whatever works for bitcoin. Stuff like payment channels has also been talked about a lot. You can also send monero to bitcoin lightning addresses with xmr.to
>multisig
You can do this with the Cli. I think the new wallet feather has this integrated in a GUI.

>>23237416
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>>23244843
shut the fuck up you street shitting commie pajeet faggot nigger kike.

>>23239185
It's Satoshi trying to cash out

>>23244843
Kill yourself

>>23244843
Shit post but great gif... one of my favorite soft core scenes

XMR fags huffing each others' farts.

>>23246452
You left out the most important part.. we are huffing completely anonymous and untraceable farts

XMR: AMOUNT UNKNOWN

https://archive.is/meIU4

>Meanwhile, the company's work with government agencies such as the IRS has sparked a backlash against Chainalysis, with a recent contract with the IRS to "break" privacy token Monero attracting negative attention.

>"Privacy coins are a very interesting technology," Gronager said, who thinks privacy tokens such as monero and zcash, which work in a similar way to bitcoin but are harder to track, don't have enough take up to be successful.

>"If you look at their use cases, which includes the likes of crime syndicates, you need liquidity and adoption and you need a lot of people to use it. That works for bitcoin as it has liquidity. Monero and zcash are niche purposes that can't be used for criminal activity at scale. There will be privacy coins and there will be privacy features but they're niche products. Long term it's not something we should be very concerned about."

>>23247139
The transaction volume have never been this high, I think in a few years monero will have way more adoption and liquidity

>>23246452
*an unknown amount of farts

>>23247522
Lol their response is to ignore it? I think they’re trying to throw people off the trail. They’ve been too transparent about their shortcomings re: AEC’s as of late.

>>23237416
>Adoption has grown significantly on the dark net and from people who are becoming tired of Bitcoin’s refusal to take privacy seriously.
I've noticed this, last week I saw a darknet market for the first time that preferred monero over bitcoin (i wasn't on the dark net for a long time). This made me curious about monero. How come it is more private? I thought the whole point of blockchain is that everyone can see what is going on

>>23248033
>I thought the whole point of blockchain is that everyone can see what is going on
Sorta but blockchain technology has matured alot. Enough that you can create a blockchain that works without allowing anyone to able to view everybody's addresses, transaction information, etc. - it all works thanks to a lot of complicated math and cryptography.

>>23248090
so, even if I buy monero using my real info the government can't track me buying drugs on the darknet? Or at least it makes it harder? If thats true I've gotta think about buying some, seems like it would replace bitcoin rather soon if thats the case. Are there any other (major) coins that also focus on privacy?

>>23248175
Others claim to focus on privacy but they have proven to be flimsy at best

>>23248175
Yeah. If you use an exchange and buy Monero and send to your private wallet your monero goes poof and disappears. If you are a target, there are ways to build probabilities of you using monero through metadata leaks but even in this case basic opsec will protect you completely.

>>23248268
damn, thats very interesting. Maybe I've gotta rethink becoming a darknet dealer
Any idea where I can find more information on how this works or how safe it really is?

>>23243357
>they believed a better Monero could be built on Ethereum using smart contracts
stopped reading there, dont listen to anyone who thinks he can do that

>>23248358
Getmonero has a lot of faqs. If you like reading book format, mastering monero is free and very easy to read. Monero is fungible, meaning one monero can always be traded for one monero (no history of transactions). It’s like cash. It is able to do this because of ring signature protecting the sender, obfuscated transaction amounts to shield what is being spent, and stealth addresses to protect the recipient (you can’t visit any wallet addresses unless you have a view key provided by that person).

>>23238159
>doesn't know about gold-backed stablecoins

bump

>>23248666
All these backings are artifical in nature and are bound to break. A gold backed stablecoin has counterparty risk and when shit hits the fan on a global scale then it would be very hard to trust it.

one last bump before bedtime. Good night and thanks for the info.

someone please buy my 0.0150 btc for xmr on bisq

>>23248666
Backed anything is retarded.

>>23249348
check out PMGT, backed 1:1 to aussie gold

>>23238159
>Plus, people buy Monero to use it, so those people aren't susceptible to short term volatility like holders.
Obviously false. This is a huge problem for all cryptocurrency adoption; if you are trying to run a business which involves fiat expenses, a big price swing before you have a chance to convert to fiat can fuck you. For users, say they bought some crypto with the express intention of buying something with price denominated in USD (which just about everything is), same problem with volatility, they would need to go through the whole process again paying fees etc.

If we can get to the point where you can pay for everything with XMR, ok yeah no need for a stablecoin. But interfacing with the existing economy is an unfortunate necessity right now, and volatility with respect to fiat reduces the actual utility of any crypto meant to be spent.

>>23250723
>backed 1:1 to aussie gold
Until Aussie government declares that they own all the gold that supposedly backs this token.
Hell, what are the probs that China invades and takes the Gold? 5%?
Thanks, bro. I rather stick with XMR.

In the last 100 years, my family has made enough bad experiences with Gold-backed promises.
What you see in the picture was Gold stable coin by the early Weimar republic.
The government by force "loaned" all the gold bars and gold coins that people had in their bank vaults.
Those who had taken the loan received the gold "stablecoin" in return.
From the state's point of view at the time, this was by no means an expropriation:
The citizen had delivered their gold to the state and received an interest-bearing gold loan for it.
According to the terms at that time, the gold depositor (citizen) had the right to demand the same amount of gold back on the due date of the bond. In addition, the citizen was promised an attractive interest rate.
However: the depositor had exchanged his safe gold for an (uncertain) promise by the government.
A few years later the government had the glorious idea of converting the promise of debt from gold to Reichsmark. The right to return the gold was abolished by law.
In reality, the end of the Gold stablecoin was even more terrible:
The promised sum of money in Reichsmark was subsequently subject to the consequences of the currency reform in 1949. That is, the consignor lost 90% of the value of the money through the currency reform.
In the end, the remaining 10% were also subject to the law regarding equalization of war burdens, insofar as the exemption limit had been exceeded.
Conclusion: the paper gold had ultimately developed into a monstrous nightmare.

>>23250723
>>23251229
>bans cash purchases over $10,000
>bans xmr on exchanges
fuck australia

Bump

>>23252266
bisq.network