Some say this sudden increase in transaction volume is the result of Bitcoiners fleeing into Monero after the recent publicity proving that No-KYC Bitcoin use is de-facto illegal.
I choose to believe this regardless of whether it's true or not. 😁
Because Bitcoin Nodes run a public ledger, but Monero Nodes are private.
STEP 1: FUD the Scaling
The network that was meant to be the foundational difference from fiat was deemed unworkable. A Layer 2 solution was promoted as the only way.
STEP 2: Introduce the Red Herring
In order to hold off on-chain scaling, the Lightning Network was introduced. Just wait 18 more months. It'll be ready and it will be amazing!
STEP 3: Jack Up Fees
Use Ordinals to jack fees high enough that no one can afford to self-custody, let alone use the main layer for anything normal.
STEP 4: Introduce Custodial L2
Liquid hung out in the background while Lightning was promoted. When Lightning broke because of crazy high fees, Liquid was quick to slide in as a solution.
STEP 5: Bridge from Exchanges Straight to L2
Now Banksters use Ordinals to jack fees to force everyone to withdraw directly to the permissioned L2. A host of exchanges can bridge to and from Liquid, and this is promoted as the ultimate solution.
Coinbase conveniently shuts off functionality for most payment coins on its merchant app. This funnels people into "trusted" KYC L2s.
Congratulations, most crypto users are now permanently stuck in a permissioned, custodial system, unable to afford actually controlling and owning their own money on permissionless networks.
Satoshi is rolling in his grave, but the Banksters are happy. What an amazing coincidence!
(plagarized from Joel Valenzuela @TheDesertLynx)
Excellent video. Thank you @ShadowRebel@monero.town
I believe things are in a state of flux as security and privacy-minded people re-adjust to the new reality wherein attacks with real-world consequences (like getting thrown in prison on false charges) are no longer theoretical.
In the past, such things mostly only happened to high-profile activists like Julian Assange and Edward Snowden. Now it's happening to normal, everyday people, just like we predicted for years would happen.
Things are getting "real". People are adjusting.
Interesting. I'd never heard of this. Thank you.
This is why I run good 'ol Debian Stable.
Slower is sometimes better. :-)
@SummerBreeze ,
Is this you on Nostr ?....
npub14slk4lshtylkrqg9z0dvng09gn58h88frvnax7uga3v0h25szj4qzjt5d6 , SimplifiedPrivacy@getalby.com
I followed that account. I want to slowly organize a stealthy infiltration and eventual subjugation of Nostr by Monero Bros. :-)
Gab accepts Bitcoin, but refuses to accept Monero.
Torba knows Bitcoin is not private and is easily traceable. I've discussed this fact with him.
Naïve people often mistake malevolence for incompetence.
Gatekeepers recommend ineffective and/or dangerous solutions on purpose.
Monero is a good measure of how serious and trustworthy a news source or social platform is.
For example, GAB refuses to accept donations or membership fees in Monero, and Infowars uses Cloudflare.
This attack will only make us stronger.
Bring it.
I mean, really.
It's like some people don't even know Atomic Swaps exist.
Their TOS indicates they use FedGov's AML / OFAC blacklists...
" To use the Service, you represent that:
- You are not a sanctioned individual or entity, or a resident of a sanctioned jurisdiction "
Have things calmed down a bit ?
I don't want to miss this 30% off sale !!
What is your estimated turn-around time for February 7th ?
In this video I discuss how the hacker responsible for the Vastaamo data breach incident was caught due to numerous OPSEC mistakes and not really any flaws with the Monero protocol.
Contains good examples of the bad operational security mistakes one should avoid.
Seeing your face on Monero Talk made me trust you more.
You made a good impression. Thank you.
I will check out Session.
https://odysee.com/@MoneroTalk:8/digital-privacy-w-simplified-privacy%2C:a?t=5477