wait

next year is already exit scam

April

the next name of the gui will be nitter.net/fluffypony/status/923986313921081344

at some point there will be a vote lol

"too many old people 30 year olds, in Monero"

:D

<nioc> "not bridged get eh?" <- Matrix is completely ignoring my emails 😡

Diego said that he would try something besides email but I don't remember what

<sgp[m]> "Matrix is completely ignoring my..." <- same

New plan: I'll email them using the ENS paid support ticket. Someone remind me tomorrow pls

ENS?

EnerSys, 59.11 USD, down 1.44% today

OR Ethereum Name Service

but the former is more likely

I'm just confused how that's related to Matrix

<selsta> "ENS?" <- Sorry, EMS. Element Matrix Services

They were talking about this on monerotalk couple months ago, they actually pressed the button now.

sgp[m] i can see your messages fine, nioc, DiegoSalazar[m]

anhdres[m]: congrats ccs.getmonero.org/proposals/anhdres-monero-garden.html

w0w

Legalize nuclear bombs

microsoft restored the accounts of the tornado cash devs that they had disabled? and restored their other, unrelated repos?

It's from a song

NorrinRadd: we were talking about the main monero channel, not this one

imagine if that 2500 xmr " to buy monero .com" lol was put into a special scheme to handle volatility for our developers under the CCS. If you elect to be apart of this scheme , lets say .. we will top up any losses to a maximum of 50%, BUT - if the price of Monero moons, the proposer only gets the xmr equivalent of the fiat requested come pay day. and those excess funds can be "donated to the general fund" as 'profits' (boring) or set

aside for some other proposal. Just an idea i've had

<plowsof> "imagine if that 2500 xmr " to..." <- Plowsof being a great mind in the monero community, as usual

Or, XMR futures contracts could be used for what they were originally intended for.

plowsof: Such a fund should be used to actually hedge, not reimburse losses

Nioc Insurance Of Ccs

reimburse losses yes - but they don't get the benefit of any price increase. How would hedging work? (i think the idea with the least 'someone has to do something' would be feasible)

I still think devaluing xmr because of volitility is a bad idea

XMR doesnt have a fluctuating supply

plowsof: Let's say entity A raises 10 XMR for a proposal

Once it is fully funded, the funds goes short 10 XMR on a futures exchange

If the XMR price goes down, the fund profits on the short

The profits can then be used to reimburse the proposer with the loss

I think, if I ask for 10 xmr in a monero economy, what happens to price of the xurrenxy is irrellevent

Usd isnt stable either

TIL - thank you dEBRUYNE

So if the price of bread doubles but xmr price only goes up By 50%, should I also get free xmr?

such a scheme would be 'opt in' of course , just a thought

Insurance is insurance because you pay for it

If its opt in, the user should have to _pay_ any surplus into the insurance fund if they profit

So if I get 50xmr and the price 10x, and I opt in, I have to give back 45 xmr (maths?)

the problem in Monero is - "Do you have an idea" -> Yes -> "Does someone have to do something in a timely fashion" -> Yes -> Think of another idea :P

The problem is using monero to get fiat

Again, it works both ways

Nobody complains when they profit

if its opt in - they don't get any profit at all

debruynes / ruckniums comments on futures / shorting

And if you short the future and the price rallies?

If it's shorted by option, price rally no problem. If it's shorted by perpetual, can incur lost

s/lost/loss

my original idea was 'reimburse losses to a max of 50% - if monero moons you get your pay and we keep the profits

lol @nioc took me a minute to get the joke

plowsof: I dont see lossws

Haveno, for example. XMR value was above target when milestone 0 was paid

By the time milestone 0 was done, it was sold at a loss.

According to Plowsof theory, ericcione should be paying back, nor writing off losses

there would be no up front pay in this scheme ofcourse

I think ccs needs no relation to fiat

And if you Ned a fiat value you should use something else

If you want to break your contract aka x amount of XMD for x amount of work, then you forfeit your ccs

Hard to pay rent in Monero in my area so far :( Grocery store still not taking it either.

And that doesnt get better by dumping ccs xmr for fiat

Complete decoupling of CCS payout from exchange rate can lead contributors to experience significant financial loss over the course of R & D due to reduced spending power of their income twitter.com/mitchellpkt0/status/1252720219644063745

I believe it ^, but thats because they plan to sell the xmr

Might as well fundraise in usdc if they dont actually care to hold the xmr

Also, I believe it ^ works both ways

you can fundraise usdc with MAGIC but its KYC

Ever heard anyone complain during a bull run that they tripled their ccs by the time of payout? Lmao

If contributors MUST take CCS funds in XMR and are expected to not convert it to fiat, then the only people who can be Monero contributors are those with previous independent fiat wealth or a landlord + grocery store that accepts Monero??

No, they arent expected not to convert

They are expected to do whatever they want

👍

And yes, must take funds in xmr.. at the preprescribed contracted amount

so the theoretical scheme would "steal" profits / not give them, but cover losses (this is the dumb way) - the correct solution proposed by Rucknium / debruyne may require "somebody to do something"

So if you say 100 xmr or 14000. 14000 means nothing. Younger 100 xmr.

I dont see _anyone_ willing to give _back_ their xmr if price rallies

It is a prerequisite that CCS proposers must suffer.

Or... get rich off of 😆

If hedged with a futures contract, the proposer would not have to give any XMR back. They just would get less (if XMR rallies) when the milestone is reached.

And... less = "sorry, we will stall and not complete work"

Im saying, KISS

If my employer pays me 20 an hr

And price if gas doubles, do I get a raise?

Is my employer going to trade futures for me?

Yes. Cost of living adjustments are very common

Yeah.. 2.5% for a 40 realistic incease in cost of living

Just driving people toward MAGIC and getting KYC'ed.

Rucknium[m]: And thats because the business profits increased.

Is ccs going to file taxes on the futures trading? Lollol

No. It would actually be best if the proposer does the futures trading

But they would have to understand the process

Actually that would be tricky, there are no futures platforms open to non-accredited investors in the US, for example

Agora Desk used to have a XMR futures contract IIRC

Oh nice, haven't heard of them

Localmonero

Same ppl

but its not realistic to pay up front to proposers and make them pinky promise they will hedge

Nooe

But for some / repeat ccs peoole, i have np paying up front

thats why i suggest a purpose for the 2500 xmr :(

Like haveno

If he had all the money day 1, hed still be asking for more

Not our problem.

objection your honour here say speculation

sustained

xD

Milestone 0 was fumbled. Paid above value, sold below

Erciccione says im a liar but the dates and numbers are right there on his weird accounting

@plowsof RE "but it's not realisti...c" < yea and now that you point that out I'm realizing it's kind of a big ask to have each individual contributor roll a hedge solution with complex financial derivatives to make sure their income doesn't lose spending power.

#oversightcommittee

Like, the thought of having to touch futures just to make sure I can pay utilities is making me sweat a bit

I dunno how to do that kind of thing

I thought you did DeFi, isthmus :P

The easiest hedge solution? Dump it all if what you require is fiat.

Thats not for us to decide, thats for the proposer to ask in the proposal - immediate payout

Yes, up front payout in XMR and let contributor set aside in fiat what they need to cover bills is the most straightforward solution

Example, I think the recent ccs for 1xmr for mirroring GitHub was paid out immediately.

Haveno knew from day 0 that they needed to bet on xmr staying above 203 in order to pay the devs

In which case they should have requested all xmr be paid our immediately once the value is at or above 203.

But they did some extended milestone scheme and continued to work - forced to sell milestone 1 at a major loss to pay devs wages.

But again, no complaining from haveno when xmr went from 203-280 and they were well overfunded.

And the ccs* was well overfunded (haveno only had access to milestone 0)

<ofrnxmr[m]> "Not mine ^ but working. I cant..." <- I think it is mine. But I'm not sure either. 😀 In any case, enjoy. It should also be aliased to sprout.i2p

Yes, it is mine. Does that mean native i2p support is coming aoon to cake/monero.com? 👍😀

s/aoon/soon/

<jozsef[m]> "Yes, it is mine. Does that..." <- We would need to support the new-ish --proxy feature I think. Should be doable :)