What People Think Privacy/Security Is
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I'm still skeptical about passkeys. Tying your auth to a specific physical device feels like a recipe for being locked out (as has happened to many people at work already...requiring me to remove their passkey so they can get back in to their account...)
Passkeys are a shortcut, not the main authentication, and you're supposed to back them up.
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This is actually really helpful, thanks!!
My general impression for a while has been that there is a genuine need for what crypto claims (but fails) to do. It sounds like Monero is, while very imperfect, sort of like the closest thing we have?
I keep seeing a lot of orgs support it that I would've expected better from, on the crypto front, so I guess this explains why.
crypto claims
Well, that depends on what claims you're interested in.
Monero solves the problem of replacing cash while preserving all of the anonymity of cash. Transactions are reasonably fast, fees are low, etc.
Bitcoin is a terrible currency IMO, and isn't much better as a store of value because:
- transaction fees are high - due to finite block size and frequency
- it's a huge target for speculation as the largest cryptocurrency
- transactions are slow (see first bullet point)
The problem Bitcoin is trying to solve is transparency of transactions, putting huge emphasis on the public ledger. That's always going to be at odds with a currency, where most people don't want their transactions tracked.
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Somebody please tell me what's up with Monero. I thought it was some kinda cryptocurrency? In what way does it avoid or mitigate any of the overwhelming number of problems those inherently have?
Yes it is a cryptocurrency just like bitcoin and eth but it is privacy focused. For example, on the bitcoin blockchain, your transactions and who sent btc to who and how much did you send is open to the public. With monero, there is still a blockchain but nothing is open to the public. They don't know who sent monero to who or how much you sent. All they know is a transaction was made and thats it. If i made any mistakes hopefully someone will correct me but I hope this gave you the basic understanding of how it works.
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This is actually really helpful, thanks!!
My general impression for a while has been that there is a genuine need for what crypto claims (but fails) to do. It sounds like Monero is, while very imperfect, sort of like the closest thing we have?
I keep seeing a lot of orgs support it that I would've expected better from, on the crypto front, so I guess this explains why.
wrote last edited by [email protected]Ok, so searching for reliable info on this is (predictably) difficult because you get 80 pages of crypto shill websites. But i found this old article and the critique it lays out seems kinda damning.
That said, it doesn't mention in the critique whether they propose any other alternative. And we do seem to need one, right? Some of the stuff that people buy with whatever bullshitcoin on the darkweb, is actually very necessary and/or policed for bad reasons. Like meds unobtainable in the garbage U.S. medical system.
It seems to me like every other day, we're hearing that the major payment processors are banning some platform, or forcing some other platform to stop allowing adult content, etc etc. So ultimately I'm coming down on the side of "Monero is just more scammy nonsense", but it also kinda seems like the only option I'm aware of...
