04:16:14 Can anyone explain to me the hype why traditional banks rush to issue stable coins ? What benefit it brings to them 04:19:26 they can do "crypto" without the volatility and spy on transactions 04:36:24 T-60d 04:36:24 Minimum required : 5% 04:36:24 https://xmr.mx/donate.html 04:41:14 @milas900:matrix.org: Someone explain more please 04:56:06 explain more what? 04:56:20 bank opens "stablecoin" gets all the hype of offering crypto to customers 04:56:28 doesn't run the risk of losing money since it's basically USD 04:56:40 can monitor the blockchain after and see who uses it where, unlike cash 04:56:51 basically a selfprinted Visa/Mastercard network 04:57:11 banks get to run a stable coin at 0.001% fees instead of 2% like the creditcards charge 04:57:51 @milas900:matrix.org: Of course 04:58:09 I think it’s bigger than this. I believe for traders and overcoming sanctions .. they will later do some agreement with exchanges… or maybe tokenization of real assets and trading underground > bank opens "stablecoin" gets all the hype of offering crypto to customers 04:58:21 I don’t think it’s b2c I feel more larger scale b2b now 04:58:54 it's relatively unregulated 04:58:59 they can abuse it how they see fit 04:59:13 stake customers coins at 5% instead of government bonds etc 04:59:19 lots of games a foot 05:06:38 There's zero point to it being "crypto" then, that's cringe AF 05:07:11 this reminds me of Jauwn's videos about crypto games XD 07:07:56

Do you mind if i ask how much are you guys earning from mining? 08:48:32 very little, but I mine to support the network when it's profitable or even borderline 08:49:08 power prices change every 15 mins here, should be writing some code to better track this 08:49:52 right now I just pick roughly based on what the daily prices look like, but it's a bit too much trouble compared to the tiny profits that way 09:46:56

Fair enough. I’m setting up a node, and now thinking of it would be a good idea to mine, if it’s profitable the coin will be absolutely private 12:03:31 https://mrelay.p2pool.observer/m/matrix.org/YcMRISJEbssWWMWqjFrtplWw.webm (Ankha_dancing_to_Camel_by_Camel_-_sylieve.webm_-_20211031.webm) 12:05:05 🤣😭 > <@death757knight:matrix.org> We already have those they just don't want to talk to you 13:36:35 > <@milas900:matrix.org> I think it’s bigger than this. I believe for traders and overcoming sanctions .. they will later do some agreement with exchanges… or maybe tokenization of real assets and trading underground 13:36:35 Stablecoins can and have been sanctioned. I think it's wanted by the US gov atm as regimes like Iran think it's private and seem to make use of it while all their accounts get linked to ip's by spy nodes and then receive a moab on their on their house. All crypto but monero is basically a voluntary cbdc unless you go through t [... too long, see https://mrelay.p2pool.observer/e/3aOf2_gKYUVGOHRD ] 15:26:19 You can have pseudo anonymity with scam like bitcoin like if you use tor and receive each transaction on a new address and send change to a new address. 15:26:19 But then if you spend, whoever receive can confiscate it and tell you that you are sus and/or non compliant. 15:27:37 Like if you pay something from an address that only been used one time for an incoming tx that you are now spending 15:29:00 So far that practice of not reusing address is going to be illegal in some countries including the US, if its now the case already. 15:30:15

That sucks 15:30:52

Why dont they just find those scammers, instead wasting all the efforts on every citizen 15:31:17 Control 15:32:01 They do find scammers sometime, but often its oversea and they can't do a thing 15:51:57 wdym "non-reusing address"? 15:52:15 Just how is it going to be enforced? 15:56:06 BlueyHealer: Its easy. 15:56:06 Your address should not be used only if it's your first time using the network. But then if the only incoming TX is not from an approved source... 15:56:52 For them, not reusing address == laundering 15:58:52 Like, where exactly would this be enforced? Amd how do they figure out that the wallet is "yours"? Like, I know nobody has perfect opsec, but this is the very same question as with checking people's social media when entering the country - just how deep is it indended to dig at each and every person?.. 15:58:55 I don't remember which law text I read months ago that considered not reusing address as money laundering 15:59:30 BlueyHealer: It's simple. When you pay something, they payment processer can see that your only tx is that one and flag you 16:00:01 eater confiscating your payment or refunding you, in the name of non compliance 16:01:05 But some providers already only accept crypto payments via KYC gateways. So basically another wording for what a recent European proposal was? 16:01:22 They can probably add some heuristics in there too. 16:01:22 Why your paid with an fresh address you filled 5 minutes ago, why did you not use your CC then, you have something to hide? 16:02:38 IDK, that still means only companies accepting it, exchanges, etc. I don't know how they'd do the entirety of existing wallets between every possible jurisdiction. 16:02:43 BlueyHealer: I think it was US, the proposal I read that included not reusing address == bad. 16:02:43 But yeah, at the end most of the "first world" want to keep control over the slaves 16:02:53 so they can't have "private money" 16:03:05 Bitcoin is fine as long as there reusing address 16:03:18 About heuristics - that's been the case with registering in various places, that's very cat and mouse. 16:04:11 I can't come up with examples right now but there seems to be so much gray area there. 16:04:56 reminds me of Internet traffic blocking 16:10:51 Like, how far are you going to go to prove this person isn't just a foreigner who bought their BTC on their country's exchange? Or some legit p2p site, etc. 16:11:37 BlueyHealer: They can ask for paper or something 16:11:37 Or just refund and tell you that you are non compliant 16:12:08 That latter did append to me one time, service did not accept monero so I got the scam coin they wanted... assholes 16:13:50 Actually I don't even trust paying service that don't accept monero directly. Not anymore 16:14:22 It's like paying with a card or something, you have that thinking in the back of your head like... It's it going to say no for some stupid reason?!? 16:16:14 Actually I don't even trust paying service that don't accept monero directly. Not anymore <- YES. 16:16:29 Also does Proxystore count? 16:18:37 Anything that don't accept monero 😂 16:18:37 Fortunately, all internet service I use now accept it, even some that did not accept it before. 16:18:37 I did not know proxystore 16:20:54 It's not the service that I don't trust, it's there payment processor. 16:20:54 If said service accept the crypto directly , like without using 3rd party processor, then that I actually approve, even if it's a scamcoin like bitcoin. 16:21:00 But most of them just a payment processor 16:27:34 I wouldn't call it a scamcoin, more like an evolution stage. 16:29:49 Yeah, more le the beta coin that got coopted years ago 16:37:12 "beta' 16:37:32 "beta" is a part of the lexicon of really gross people too. Or a particular fandom. 16:38:41 BlueyHealer: Between alpha release and gold release 16:39:58 Gold dont really append anymore now that I think about it 16:40:01 Can just patch eet later 16:40:24 ah lol just that the context could be read in a different way XD 16:40:27 But yeah, indeed. 16:40:50 Also, never heard the term "gold release" before. 16:40:55 Just 16:41:00 Just "release"