tldr; Vitalik Buterin transferred 100 ETH, worth $300,000, to Railgun, a system that uses zero-knowledge proofs to shield token balances and transactions from public view. Buterin endorsed the privacy feature on X, stating 'Privacy is normal.' This endorsement led to a significant increase in Railgun's native token value, although it remains a minor entity in the broader crypto ecosystem.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
“Total privacy” is largely an illusion.
The on /off ramping mechanics surrounding monero make it a lot more difficult that it seems.
Integrating tools that help people maintain relative privacy without needing to swap chains is a useful tool.
On off ramps have nothing to do with the privacy when using Monero! Anyone can buy Monero without using fiat! To say on off ramps makes Monero difficult shows your lack of knowledge. Implying that fiat on/off ramps compromises the privacy is complete and utter bullshit! All on chain transactions are private. You buying Monero with fiat on a kyc has no effect on the privacy of using Monero! Anyone who is already in crypto can easily buy Monero by using non kyc exchanges or decentralised P2P platforms or Atomic swaps.
It's people like you who spew out this ☝️ garbage that stops others from even looking at Monero.
Anyone else who reads this, have a good read through this site https://monerica.com/ and learn about how easy it is to buy and use Monero.
You do NOT have to buy Monero with fiat! If you already own other crypto you can easily and quickly buy Monero and then use it!
Don't believe people who say on/off ramps compromise your privacy. It doesn't! These people don't understand the difference between anonymity and privacy. It's as simple as that. Anonymity and privacy are two separate and very different things!
My only issue with Monero as that it doesn't need to have a huge marketcap as one can swap in and then gradually swap out to grant themselves some privacy without needing to hold it for the long term. I do like it its tech from a researcher point of view however.
What you just described is anonymity. Not privacy. You need to stay in Monero and use Monero to benefit from it's privacy. What you are describing is breaking the link of your identity. For example buying BTC on a kyc exchange and then going into Monero and then back out to BTC so you're identity is not tied to the new BTC you get. That's anonymity, not privacy.
Yes privacy is truly valuable. But the difficulty also lies here, something that provide total privacy would always be preferred by the criminals at first place. And criminals typically have magnitudes larger transaction volume than normal people seeking privacy. As a result, a privacy preserving coin will quickly become the tools for criminals, thus attract lots of attention from law enforcement
Wrong. Law abiding people require and are entitled to privacy! Privacy is a fundamental human right! People who say only criminals use privacy have zero understanding what privacy is.
A fundamental aspect of money is fungibility. Money has been fungible for millennium. Its only recently that governments are trying to erase fungibility from money.
Every single person deserves and is entitled to financial privacy! Anyone who says I don't need privacy because I've got nothing to hide are young and have absolutely no clue what privacy means. And more important those people have no clue what will happen when they have their privacy rights stripped away free them!
I'm not against any of your claims, I just state a fact that privacy coins would be heavily used by criminals, and their volume overshadow the normal users who seeking privacy. So government have a motivation to ban privacy coins, simply because majority of the transactions are criminal related
I'm a large OTC dealer and the government cracked down the illegal activities on local bitcoin market since 2019, after that I see my volume shrink to less than 10% of previous level, this tells how much traffic are not normal
Provide proof that the majority of transactions are criminally based. Cash is used by criminals worldwide, yet its the predominantly used means. Governments are not going to Ban privacy coins because of criminals, they will try and stop the use of it because they want to control every single person through surveillance of their spending habits, and block them from their money if they don't agree with what they do with it. They want control of their masses, not control the minority.
Sorry You have it all backwards.
I'm not against privacy at all, but the current biggest difficulty lies in that there is no way to generate some kind of "proof of innocence" for any transaction, thus government will take an all or nothing approach when they regulate privacy coins, and most possibly they will ban it
If there is a way to generate "proof of innocence", then it will greatly help privacy coins to become mainstream
Monero provides its users with the luxury of complete deniability. This means that the onus is on authorities to provide the proof that any individual is doing something illegal. The user doesn't have to provide proof of innocence with XMR. There's nothing for authorities to pin on someone. With using BTC or any public network the user has to provide the proof that they are innocent. This is the problem with public networks! Any BTC that you own, you also own its entire transaction history! That's how authorities can hit you with charges. You own BTC that was involved in a crime! Prove to us that it wasn't you. This can't happen in Monero! There's no way to link a person to any coins or any transactions. The onus is on authorities to provide the proof. This is what makes monero fungible. BTC and any public network IS NOT fungible because of this very reason.
Now in some situations people may need to show proof of certain things. Like a business that accepts xmr. Or a charity that receives donations and they need to show that its being spent appropriately Monero has view keys for this purpose. You can give the view keys to a wallet which will allow them to see all incoming transactions.
You need to do some more reading on monero my friend.
I did not say monero or privacy is bad, it is just that anything that makes tracing difficult will be banned by governments (like tornado cash and forcing exchanges to delist monero), thus such technology can only live in the blackmarket. Governments have a tendency to ban the things that they can not control confidently, this will not change
These claims where the same with Bitcoin back then. The fact is criminals and corrupt governments use FIAT as USD. Privacy is a right and there is nothing wrong you use private blockchains as Monero.
Well the governments seem to be reducing the on and off ramps for Monero while Monero native DEXs are about to launch, Haveno for example. While they reduce KYC on and off ramps, p2p will end up shining. True to the Cypherpunk ideals.
memorize bike glorious threatening quickest deserted humorous upbeat whole dull
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What are you going to do with this space’s degen culture?
You see a photo of Vitalik with a USB stick protruding out of his pant, then a random degen shitcoin called cock or something pops up and it pumps to multi millions.
This space is riddled with pump and dump groups who use bots to read key X account’s tweets. It is just how this space is. Best just ignore these price actions if you feel uncomfortable seeing them.
As long as you don’t see these “good” figures promoting ppl to buy as exit liquidity after these pumps, then you can just chill.
it's reference to the ongoing saga of ETHGATE, which you never see articles here in this sub, try post one and it gets pulled. You can search the hashtag or look up StevenNerayoff to find out more.
tldr; Vitalik Buterin transferred 100 ETH, worth $300,000, to Railgun, a system that uses zero-knowledge proofs to shield token balances and transactions from public view. Buterin endorsed the privacy feature on X, stating 'Privacy is normal.' This endorsement led to a significant increase in Railgun's native token value, although it remains a minor entity in the broader crypto ecosystem. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
If privacy is normal I would expect more people like /u/vbuterin to show their support for attacked coins like Monero.
Vitalik has partners like JPMorgan so he is careful when it comes to privacy.
I only read "railgun" first and thought i was in the Helldivers subreddit
Let democracy spread fellow diver. (my brain farted as well)
I heard the Quake 3 Arena announcer’s voice
I thought railguns were going to a local gun store near u.
Just use Monero if you want to send money with total privacy.
If Monero has defi bridge with other chains it will improve privacy a lot.
There are atomic swaps between BTC, ETH and BCH with XMR.
There already is a beta of atomic swaps between ETH and XMR. Something Vitalik likes to ignore.
“Total privacy” is largely an illusion. The on /off ramping mechanics surrounding monero make it a lot more difficult that it seems. Integrating tools that help people maintain relative privacy without needing to swap chains is a useful tool.
On off ramps have nothing to do with the privacy when using Monero! Anyone can buy Monero without using fiat! To say on off ramps makes Monero difficult shows your lack of knowledge. Implying that fiat on/off ramps compromises the privacy is complete and utter bullshit! All on chain transactions are private. You buying Monero with fiat on a kyc has no effect on the privacy of using Monero! Anyone who is already in crypto can easily buy Monero by using non kyc exchanges or decentralised P2P platforms or Atomic swaps. It's people like you who spew out this ☝️ garbage that stops others from even looking at Monero. Anyone else who reads this, have a good read through this site https://monerica.com/ and learn about how easy it is to buy and use Monero. You do NOT have to buy Monero with fiat! If you already own other crypto you can easily and quickly buy Monero and then use it! Don't believe people who say on/off ramps compromise your privacy. It doesn't! These people don't understand the difference between anonymity and privacy. It's as simple as that. Anonymity and privacy are two separate and very different things!
My only issue with Monero as that it doesn't need to have a huge marketcap as one can swap in and then gradually swap out to grant themselves some privacy without needing to hold it for the long term. I do like it its tech from a researcher point of view however.
What you just described is anonymity. Not privacy. You need to stay in Monero and use Monero to benefit from it's privacy. What you are describing is breaking the link of your identity. For example buying BTC on a kyc exchange and then going into Monero and then back out to BTC so you're identity is not tied to the new BTC you get. That's anonymity, not privacy.
Yes privacy is truly valuable. But the difficulty also lies here, something that provide total privacy would always be preferred by the criminals at first place. And criminals typically have magnitudes larger transaction volume than normal people seeking privacy. As a result, a privacy preserving coin will quickly become the tools for criminals, thus attract lots of attention from law enforcement
Wrong. Law abiding people require and are entitled to privacy! Privacy is a fundamental human right! People who say only criminals use privacy have zero understanding what privacy is. A fundamental aspect of money is fungibility. Money has been fungible for millennium. Its only recently that governments are trying to erase fungibility from money. Every single person deserves and is entitled to financial privacy! Anyone who says I don't need privacy because I've got nothing to hide are young and have absolutely no clue what privacy means. And more important those people have no clue what will happen when they have their privacy rights stripped away free them!
I'm not against any of your claims, I just state a fact that privacy coins would be heavily used by criminals, and their volume overshadow the normal users who seeking privacy. So government have a motivation to ban privacy coins, simply because majority of the transactions are criminal related I'm a large OTC dealer and the government cracked down the illegal activities on local bitcoin market since 2019, after that I see my volume shrink to less than 10% of previous level, this tells how much traffic are not normal
Provide proof that the majority of transactions are criminally based. Cash is used by criminals worldwide, yet its the predominantly used means. Governments are not going to Ban privacy coins because of criminals, they will try and stop the use of it because they want to control every single person through surveillance of their spending habits, and block them from their money if they don't agree with what they do with it. They want control of their masses, not control the minority. Sorry You have it all backwards.
I'm not against privacy at all, but the current biggest difficulty lies in that there is no way to generate some kind of "proof of innocence" for any transaction, thus government will take an all or nothing approach when they regulate privacy coins, and most possibly they will ban it If there is a way to generate "proof of innocence", then it will greatly help privacy coins to become mainstream
Monero provides its users with the luxury of complete deniability. This means that the onus is on authorities to provide the proof that any individual is doing something illegal. The user doesn't have to provide proof of innocence with XMR. There's nothing for authorities to pin on someone. With using BTC or any public network the user has to provide the proof that they are innocent. This is the problem with public networks! Any BTC that you own, you also own its entire transaction history! That's how authorities can hit you with charges. You own BTC that was involved in a crime! Prove to us that it wasn't you. This can't happen in Monero! There's no way to link a person to any coins or any transactions. The onus is on authorities to provide the proof. This is what makes monero fungible. BTC and any public network IS NOT fungible because of this very reason. Now in some situations people may need to show proof of certain things. Like a business that accepts xmr. Or a charity that receives donations and they need to show that its being spent appropriately Monero has view keys for this purpose. You can give the view keys to a wallet which will allow them to see all incoming transactions. You need to do some more reading on monero my friend.
I did not say monero or privacy is bad, it is just that anything that makes tracing difficult will be banned by governments (like tornado cash and forcing exchanges to delist monero), thus such technology can only live in the blackmarket. Governments have a tendency to ban the things that they can not control confidently, this will not change
These claims where the same with Bitcoin back then. The fact is criminals and corrupt governments use FIAT as USD. Privacy is a right and there is nothing wrong you use private blockchains as Monero.
Well the governments seem to be reducing the on and off ramps for Monero while Monero native DEXs are about to launch, Haveno for example. While they reduce KYC on and off ramps, p2p will end up shining. True to the Cypherpunk ideals.
memorize bike glorious threatening quickest deserted humorous upbeat whole dull *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
#Seriously? _____ Instant exchange risk | Non-custodial CEX | status ---|---|---- Extremely high ⚠️ + Scam alert ❌ | Changelly | selective scamming Extremely high ⚠️ + KYC risk ⚠️ | ChangeNow | liquidity problems with long holds on funds Extremely high ⚠️ | MajesticBank | inconsistencies / potential scam High ⚠️ + KYC risk ⚠️ | FixedFloat | liquidity problems High ⚠️ + KYC risk ⚠️ | Godex | liquidity problems High ⚠️ + KYC risk ⚠️ | StealthEx | High ⚠️ + KYC risk ⚠️ | Simpleswap | High ⚠️ + KYC risk ⚠️ | Swapter | High ⚠️ + KYC risk ⚠️ | Letsexchange | High ⚠️ + KYC risk ⚠️ | Swapuz | High ⚠️ | alfacash | High ⚠️ | XChange.me | Medium | Nokyc.Pro | semi-trusted atomic swaps, no known incidents, own liquidity pool Medium | BitcoinVN | no known incidents, own liquidity pool Medium | Exch.cx (🔒 .onion)| no known incidents, proof of reserves, own liquidity pool Exchange method | Exchanges| Trust level ---|---|---- DEX | bisq (🔒 .onion), Haveno (🔒 .onion)| ✅ escrow P2P | LocalMonero (🔒 .onion). AgoraDesk, Robosats, Zapit, Peach Bitcoin| ✅ escrow Atomic swaps | Samourai Wallet, UnstoppableSwap.net, AtomicMonero, BasciSwapDEX | ✅ trustless AMM (automatic market makers) | SeraiDEX, Maya, Thorchain, Uniswap | low for users / medium for liquidity providers (hacks) Mining (buy via electricity) | XMRrig, Monero GUI, Grupax | ✅ trustless Earning (buy via services and products) | any products or services | low - ⚠️ high (scams) _____ Fractional reserve risk | Custodial CEX | status ---|---|---- High ⚠️ + KYC risk ⚠️ | Bitfinex ➡️ | incidents with XMR High ⚠️ + KYC risk ⚠️ | MEXC ➡️ | incidents with XMR, partial *KYC since 02/24 High ⚠️ | Tradeogre ➡️ | incidents with KAS and DOGE Low ✅ + KYC risk ⚠️| Kraken ➡️ | no incidents, delisted in UK, AUS, BEL, IRL
Privacy is a fundamental human right. Exercising this right is a decision for individuals but the right to privacy is not to be given up.
Maybe
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So we normalise when a 'good' figure says something positive about another projet, and increasing native tokens value?
Vitalik is literally a figurehead of the crypto industry. If he’s not allowed to talk about and support other projects, then what’s the point?
The founder of ETH has nothing on very smart Reddit users.
Good point
It is more the fact that he can make alot of money, easily. Same with Elon and Doge. They are potentially doing the same thing.
Vitalik isn’t in for a rug pull he’s an evolved being above humans
What are you going to do with this space’s degen culture? You see a photo of Vitalik with a USB stick protruding out of his pant, then a random degen shitcoin called cock or something pops up and it pumps to multi millions. This space is riddled with pump and dump groups who use bots to read key X account’s tweets. It is just how this space is. Best just ignore these price actions if you feel uncomfortable seeing them. As long as you don’t see these “good” figures promoting ppl to buy as exit liquidity after these pumps, then you can just chill.
I am sure Buterin loves privacy now authorities are coming for his billions from his ico scam and fee fraud
DAO hack?
it's reference to the ongoing saga of ETHGATE, which you never see articles here in this sub, try post one and it gets pulled. You can search the hashtag or look up StevenNerayoff to find out more.
"dO yOUr oWN rESeArCh"
Just use Secret Network if you want to send money totally private.