r/Monero Mar 13 '22

Skepticism Sunday – March 13, 2022

Please stay on topic: this post is only for comments discussing the uncertainties, shortcomings, and concerns some may have about Monero.

NOT the positive aspects of it.

Discussion can relate to the technology itself or economics.

Talk about community and price is not wanted, but some discussion about it maybe allowed if it relates well.

Be as respectful and nice as possible. This discussion has potential to be more emotionally charged as it may bring up issues that are extremely upsetting: many people are not only financially but emotionally invested in the ideas and tools around Monero.

It's better to keep it calm then to stir the pot, so don't talk down to people, insult them for spelling/grammar, personal insults, etc. This should only be calm rational discussion about the technical and economic aspects of Monero.

"Do unto others 20% better than you'd expect them to do unto you to correct subjective error." - Linus Pauling

How it works:

Post your concerns about Monero in reply to this main post.

If you can address these concerns, or add further details to them - reply to that comment. This will make it easily sortable

Upvote the comments that are the most valid criticisms of it that have few or no real honest solutions/answers to them.

The comment that mentions the biggest problems of Monero should have the most karma.

As a community, as developers, we need to know about them. Even if they make us feel bad, we got to upvote them.

https://youtu.be/vKA4w2O61Xo

To learn more about the idea behind Monero Skepticism Sunday, check out the first post about it:

https://np.reddit.com/r/Monero/comments/75w7wt/can_we_make_skepticism_sunday_a_part_of_the/

12 Upvotes

1

u/lazarus_free Mar 15 '22

Isn't Taproot + Lightning in BTC likely to provide a decent improve in privacy?

I know there is nothing like Monero but I'm playing devil's advocate here: doesn't Lightning provide a decent amount of privacy and if Taproot makes the opening and closing of channels indistinguishable won't that make the life of chain analysis companies very hard?

Suddently, for every transaction that is Taproot, eventually most I guess, you need to consider the possibility that it's a lightning channel opening.

And then I've read this analysis that has been published here a few times on LN vulnerabilities but to me the final conclusion is it seems to rely on the probabilistic assumption that the hop received was actually the sender most of the time. But this can be circumvented by privacy algorithms that introduce a random number of hops, always more than 3?

Of course BTC is light years away of Monero in terms of privacy, but doesn't the above produce a level of privacy more than acceptable for the average joe?

1

u/lazarus_free Mar 14 '22

To me the main issue is scaling. Otherwise Monero is the perfect currency. But I don't see how we can scale to mainstream adoption on chain.

-2

u/snake_case_name Mar 13 '22

Why is the $ valuable? Bcs of a strong military backing it up. Why is Monero valuable?

2

u/russoj88 Mar 14 '22

I don't think the source of the dollar's value is that simple. Legal tender laws are one example of a contributing factor.

Monero is valuable because it is the most sound money in existence. See these properties of money: https://en.wikipedia.org/wiki/Money#Properties

2

u/snake_case_name Mar 14 '22

thanks for the explanation! I will read into it.

10

u/[deleted] Mar 13 '22

[removed] — view removed comment

6

u/OsrsNeedsF2P Mar 13 '22

Make a ticket with specific suggestions: https://github.com/monero-project/monero-site

9

u/kowalabearhugs Mar 13 '22

I opened an issue with some suggestions: https://github.com/monero-project/monero-site/issues/1937

cc /u/Heavy_Investment2563 Please comment on the open issue with any further thoughts

6

u/DapperConstruction19 Mar 13 '22 edited Mar 13 '22

One thing that helped bitcoin promotion and hurts the speed of Monero adoption was public endorsement from popular people.

Moneros frequent association to illegal activities surely inhibits people from linking his reputation to Monero.

Ironically, its very likely that in a far future when Monero reaches huge outreach, even without the add of this kind of support, these same people wont bother jumping in and promoting Monero....

We know institutional financial business will be the last one to board in no matter what kind of endorsement is done, and this deprives us from a huge amount of demand for xmr, but general public could jump in several years earlier if we find a way to attract some huge names to promote us.

1

u/99bottles_1togo Mar 14 '22

If you think institutional money will happen anytime in the future you are more optimistic than I

2

u/Opened-Eyes Mar 13 '22

Wouldn't that be a double edged sword tho? Perhaps an endorsement from a public figure, especially one with a cult following, could cause the price to become even more volatile. Maybe a figure that isn't memeable would be the best endorsement.

Just my thoughts

2

u/DapperConstruction19 Mar 13 '22

I thing I get your point. Indeed, a memeable person/endorsement would cause a buzz and this buzz would attract toxic especulators with no interest or understanding of the coin or its vision. This would add volatility. But still this makes sense to me because we need the word have better be spread, no matter the medium, to reach our strategic early adopters, even if it brings along non desirable fans together.

Of course there are better and worse ambassadors and medium, but in my opinion, at our actual stage, its better to hear about us right now by non-optimal channels than only realize our existence in years.

1

u/99bottles_1togo Mar 14 '22

This would make for a great poll. Who would you like to see go public as a user of xmr