/biz/ - Business & Finance

>>54242392
What do you guys think of Decred? Is it another shitcoin scam or is it a real competitor to Monero?

Are there any proposals in Monero (or any crypto for that matter) to deal with the infinite growth of the blockchain?

>>54242392

Your participation needed:

Global. Hyperinflation General /GHG/ >>>/pol/420522228

>>54244617
Technological advancement of storage. Look at floppy disc than and ssds now

>>54242417
Doesn't matter

>>54244617
If you are asking about the adjustable blocksize, you should know that it has a maximum limit in monero, just like bitcoin, litecoin and almost every other cryptocurrency I can think of.

If you are wondering about the ledger just getting longer over time, note that the blockchain size increases linearly over time, while the cost of storage tends to decrease exponentially (or at least an greater-than-linear-rate). I don't see the (bitcoin, monero, etc.) blocksize being a problem at all as long as it stays below ~1TB by the end of this decade. After all, you don't need to store all the transactions in order to mine. You don't need to run a full node to send crypto. The only users that really need to store transactions for their daily operations are automated recipients, which are usually large businesses like exchanges and stores, which can afford lots of storage.

In monerod, there is a pruning flag that removes some non-essential data, and only stores about a third of the output signatures. There is also "sharding" which drops entire blocks, but this isn't implemented. The problem is fundamentally that you need to keep old transactions because they might be spent in the future. If you systematically delete old blocks, then you are basically deleting someone's money. I think is worse in a private cryptocurrency because you can't even be sure if an output has been spent yet.

The most extensive pruning/sharding I have heard of is in a proof-of-stake system called RaiBlocks, which stores the account balance at the end, so most nodes can prune the whole history before that. It takes advantage of the stakers' ability to agree on balance without showing inputs (not possible with PoW and pretty dangerous imo!). the structure of raiblocks is very different though, and I am not sure if I would be willing to hold any meaningful amount of money in it (or any PoS coin for that matter),

fake general thread

>>54244617
>>54246241
I should add that the reason that pruning/sharding works is because there is *redundancy* in the network. If everyone decides to shard the same blocks, it won't work. if everyone decides to shard a random x-of-y blocks, then you don't lose history because everyone can fetch the blocks they don't have. This does not have implications for security because the block hashes are really the root node of what's called a "merkle tree", which is a data structure you should familiarize yourself with.

However, it does have some implications for convenience. If everyone stores only a third of the blockchain, you need like three times as many peers, maybe more to make up for it.

>>54242417
I don't know if it is a scam, but it has PoS and DAO which is very scammy, and it does not introduce any novel privacy mechanisms. It is about as private as bitcoin or litecoin are already, maybe less so after litecoiners implemented mimblewimble.

>>54246475
Thanks for the response bro, thing is I talked to some /pol/fags and they said that DRC is better than XMR, had more real privacy and utilities like atomic swap. Btw I learned that Decred was based on XMR. I truly believed that it was more secure and legitimate but now not so much, plus it’s a dead coin

Either way, isn’t Monero pretty much the best coin there is? It’s gotten more sales than BTC

>>54242392
>>54242417
Did you create this fake thread just to shill a dead shitcoin? Fucking lol. All fields and kys nigger.

Why are there people still saying that BTC is the best and everything else is a shitcoin grift? They say bitcoin has the most privacy. On the other hand we get Monero anons saying BTC is a privacy stealing psyop that will rob all your money.
Does anyone have proof of what they’re saying?

>>54246698
Nope I made this fake thread to learn about this fake coin. I wanted to know if the claims that it is legit are true. I haven’t invested in either Monero or Decred, but now I realized that Decred is shit so I think Monero will probably be the best bet since Bitcoin seems too scammy

>>54246583
I have seen a number of your threads. This is a very interesting way to shill your coin, by agreeing with everyone in the XMR thread that it sucks.

I don't think it will work though. DRC is a dead scamcoin with no fundamentals whatsoever. You might as well just fork bitcoin or litecoin yourself, even a skid can do that. But based on what I am reading here, it may be above your pay grade, pajeet.

>I talked to some /pol/fags and they said that DRC is better than XMR
You talked to the dumbest, most schizophrenic users on this website, and they knew about a cryptocurrency that wasn't bitcoin or etherium? I don't think so.

>>54246777
I’ve only posted about the coin since yesterday. Also thankfully no I’m not a streetshitter. By the way a bit off topic but can you explain to a non coiner why bitcoin is garbage and why Montero is good? Also the reason I was asking about the coin since yesterday was because I wanted to see what my options were, I even considered uni swap, pancakeswap, and shiba and I found that most coins are shit and pozzed, and this one was no different than the other coins. Monero and Bitcoin seem to be the only legit ones, but Bitcoin seems really pozzed and has 0 privacy from what I can tell.

>>54247260
If you cannot infer whether or not a coin is a scam, just avoid crypto altogether for the next few years. that's my advice. The entire market is doomed in the short term anyways.

Bitcoin has *some* privacy mechanisms. These are generally insufficient for use on the darknet, but may be sufficient for day-to-day spending on the lightning network (for now). But bitcoin's privacy or its other technical limitations are not the problem.
Monero has technical limitations as well, the difference is that monero users will work together to improve the network. The larger problem is not technical, but social. Bitcoin users have become uneducated and will dogmaticially oppose any improvements to bitcoin at all. Bitcoin's main opposition is in etherium, whose community is caught up in a lot of ponzi/gambling distractions like proof-of-stake, NFTs, and very esoteric stuff like DAOs. You can see that in the LINK shills, which are etherium-adjacent.

In a nutshell, the big problem with crypto is that the devs and userbases are concerned with short-term profits and hype rather than making useful products. Monero is different, but it is not enough to prevent it from crashing with the rest of the market.

The situation will not get better until it gets worse.

>>54247501
Thanks for the warning anon, I wish you luck

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>>54248437