Luke is uploading much now with starlink, he like that friend that finally got a gaming pc at 17 and is trying to play every coop game from the past 2 decades with you.
lol wtf? i got a gaming PC when i was 16 because thats how old you need to be to get a job in my state. used a celeron until then.. TF2 on 20 fps, WoW on 25fps.. 800x600 res, all low settings. is it really the normal to have a $1000+ PC when youre 12 nowadays?
hi , mmm... why you want to go back to fiat ? would it not be better to have a kind of monero ZKproof stablecoin ? and make business with anyone anytime sure it could be an issue to pay your electricity bills an other state controls service .. but think could be used for all the other things cheers
Cash can be seized through civil forfeiture laws (legal robberies.) I remember a story of a stripper having 1 million dollars she saved up seized after being pulled over on the freeway. She got it back but they couldn't do that if it was crypto. You can cross borders.
If they take your money and give it to the feds they get something like 75% of it back as funding and there is no way to get the money back when you prove the money you had was all legit because they don't have the physical money they seized from you anymore after giving it to the feds.
I resonate with Luke's position and passion on physical vs digital currency usage. In terms of privacy, gold coins are pretty sweet. However, digital currencies are very hard to counterfeit and relatively easy to verify/validate. Gold is vulnerable to counterfeit. Coins have to be minted. Gold bars have to be smelted and tested to a purity standard. The "trust" involved in an exchange with gold isn't as air tight as the "trustless" nature of crypto. It sure would be nice to not need the trustlessness of digital currencies... but counterfeiting is one less thing to worry about with digital crypto implementations (as far as I know). Tradeoffs.
@BZB hi ;) price of gold and silver are manipulated also at the level of minting declaration ..lot go out by the back door and are not even declared .... maybe waiting the price to sky rocket ? like the oil tanker who stay on the sea for month even years,like it happen on the 80 ... waiting the price to go higher but i think you are right , a good crypto currency could be less or impossible to be falsified ...but i think .. only if it is a attach to a real decentralised anonymous , ZKproof stable coin ;) stable coin is the key of the game ... that is why the stable coin regulation is the most important for the elite who does'n exist ;) cheers mate
Luke when all the coins are mined, miners will still collect on transaction fees. If the blockspeed slows down transaction fees will rise and the incentive will return. Not criticizing your other points. The biggest flaw of bitcoin IMO is that its a geopolitical risk and an incentive for governments to deceptively or overtly control the mining farms in their territory and the ones they can reach externally. Land military based powers are not just going to roll over to algorithm coders living in the clouds
but his point is that at current hash powers miners expect 45$ per tx, if there is no emission. It's not thta blockk speed would slow down, it's that it would become more lucrative to execute double spend with your hash power. also iirc block speed would not slow down, they adjust difficulty if that happens, which again opens up to double spend
I wonder how much of an effect the deplatforming of Russian civilians by big tech will have on the value of the American dollar in the coming years. That was a very interesting point and only mentioned in passing.
silver is just as private and decentralized as crypto, if not more. the problem is it's not divisible. If I want to buy a candy bar with silver i'm gonna need to break out a microscope and a laser. ammunition is probably the best physical currency, although it's not so decentralized.
@@5000okok but then its not a currency anymore. it's a good you're trading for the actual currency. So youre gonna have to find a guy who can actually use silver, which...idk a dentist?
yea maybe it would.loose value. But ithink people would still use it to store their money. Like maybe the farmer sells his potatoes for currency and then changes some of it for precious metals.
as far as physical currency. If we take it to its' logical conclusion, we solve the problem of ubiquitisness by using stored energy as the exchange medium. There is tons of all the elements in the universe, but energy is constant so we can exchange that. Like if we had perfect batteries thay where small, don't leak and can charge and discharge quickly we could use that as a physical form of exchange.
Yeah I was just thinking the same if I was a vendor on a private market selling something to you and get payd in monero how and where can I then cash it out to $ or €
@@Kirt44 swap xmr to eth with an anon exchange (there are lots of them) and then cash out eth via an exchange. Tricky but not impossible. Also with things like Bisq you can just cash out immediately
I will forever be indebted to you, you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs Desiree Madsen
I invest with Mrs Desiree too, she charges a 20% commission on profit made after every trading session which is fair compared to the effort she put in to make huge profits
As a first time investor I started trading with Mrs Desiree with just a thousand bucks. my portfolio is worth much more than that now within just weeks of trading with her.
@@Ryan-xq3kl I don't see a real reason in smart contracts yet. Maybe a few specific functionalities, which are typically created using some kind of smart contract in order to communicate with Monero based platforms, for example a Monero based smart contract platform.
Kevin Wad asked me to do an interview. We're releasing it here first. Kevin Wad's channel: ua-cam.com/channels/Mg5jHjEp59TKy_0tdoeXnQ.html Him on Monero Talk: ua-cam.com/video/4lwRB7YxAsA/v-deo.html
Luke, salvadoran here, the govt gave $30 not 20, and also you were able to cash it out in an bitcoin ATM. You dont need to take a picture of yourself, a lot of my friend exploited the system since you only needed a picture of the id, and you can get sim card back there anonymously, since the wallet recognizes your sim card. Also, you can use any wallet that you want to pay, thoe yes people were sheepy enought to fall into the $30 bait. Also, bitcoin is not bound to taxes in El Salvador, unlike US that is not recognized as a tender but is Taxable (so much of freedom amirite?). The govt did a good thing with a hidden agenda that at the moment I’m still trying to figure out what the dark motives are besides the surveyllance of people’s monetary activity.
@my life is over Never try again Yes, we do have an extradition treaty, not only that most major banks in El Salvador adhere to FACTA. If you dont know about FACTA, is basically you gotta pay taxes to the US even if you are not living or working in the US on the foreign accounts you have and the earnings you do, luckily in El Salvador if you pay taxes to the US you dont need to pay taxes to El Salvador (as I have understood)
Wow! I've spent many years cheering BTC and the recent KYC (recent for me) crap is really turning me off. I LOVE the idea of BTC, but in practice, its falling apart. I don't want crypto so I can get rich and buy a Lambo, I want crypto to work for the everyman as a stable, decentralized, private, deflationary, investment/currency. Your arguments are totally changing my mind on things. Are you big enough to debate Saifedean Ammous on these topics?
The beauty of “crypto currency” is the variety. Communities can establish their own financial preference. Bitcoin is valuable as it stands. However, why stop there? Lots of opinions, lots of personal beliefs, that is the basis of decentralization. If a token or coin or whatever you wanna name it, they all have utilities. Some for gambling, some for investing. With the age of information, let the info flow. The more we become informed, the less we will be scammed
Cryptocurrencies can not prevent fractional reserve banking. Even if all transactions is made in Monero, someone can set up some leech currency on top of it.
Monero will never top Bitcoin, but I do believe privacy coins do have a place. But for world applications, having an open ledger is extremely important. Most people who gain financial security find value in an open and ledgered system. The government has less power than we realize.
@@CelonixCleaningServicesLLC “Future” is just as strong a word. And neither of us know the future for sure or whether fiat will exist in the further. Monero may be privacy, but Bitcoin’s algorithm so far is Top
how to prevent doublespending then every transaction is private and how can somthing be truely privat? well i have to read into monero thanks alot guys ^^
40:20 - Don't forget the best part about Bitcoin Extensions to make it do what you "want" it to do; At every step of the chain to make BTC do its thing, without massive dataleaks, you have the potential for something (including You!) to screw up, and now the transaction goes off into the void. Seeing that this is a decentralized system, that means NO TAKESIE BACKSIES on fudged numbers and addresses :- ) Each additional step is a multiplicative chance of irreversible error, so best to keep the number of steps low! don't feed the satoshi void crocodiles 45:10 - exchanges are clearly Layer+1 🤡
interesting point where kevin said that if we expand into the universe that it would be post scarcity where the only scarcity will be digital, i disagree, for one time and energy will always be scarce and even if you have the abundance of infinity with material goods if its 100 light years away it is worthless to you
Quantum computers are no threat to cryptography. The only thing they can do is work on more solutions with less accuracy. A quantum computer gives you a dynamic range of possibilities instead of just 1 and 0. It is the scientific notation of computing. Instead of a true to the decimal place answer, you get something that is close enough but with a fraction of the energy input.
I literally worked on quantum computing during my thesis. Quantum computing absolutely poses a threat to modern cryptography. However, it will very likely enable new kinds of cryptography which are specifically designed to be difficult problems for quantum computers to solve.
Suppose you want to send money to the government(for paying tax let's say), but you are using a middleman to process your taxes. Is there a way that you could seal a portion of the payment so that it only gets opened by the department you want your taxes to go to? Isn't that the goal of encrypted transactions and zero knowledge proofs? Why shouldn't Monero aim for such functionality then?
No, fees are a result of having more people willing to create a transaction that the number of transactions that can be made in the blockchain. That is purely a supply and demand issue where the proof algorithm is irelevant, the only two variables are layer 0 suply and demand of transactions (which in etereum includes smart contracts). It has nothing do with miners. Miners get rewared with block new coin and block fee, they migth decide to invest more or less in mining acording to expected profits, but they dont determine in any way the fees. More miners means more dificult to mine a block, the fees are the same.
@@alejandrosrwebmaster okay thank you for the information. Polygon network does not charge any gas fees; is Polygon mining but not charging users or is the network simply paying the gas fees on behalf of its users?
@@0x007A I dont much about Polygon but I understands it is layer 2, Transactions and contrcs inside do not run in the ethereum chain, it happens in their own chain. So they simply offer a diferent chain with more transaction per second. More supply of transaction slots, less demand of transactions.
Guy is discribing Cardano in every way, ugh if only cardano had privacy like monero... If cardano had a baby with monero, it would dinosaur everything in the market
I probably care more about privacy than you (I push people to use freenet), but money is not just about us "radicals" (un?)fortunately. If we just wanted to transact with each other, sure, bitcoin could have gone completely dark on day1. But if we want this to be a global money, we have to try to meet people where they are. Bitcoin is a trojan horse, as we see in El Salvador, and with the Saylors and Musks and Byrnes of the world. Even though the el salvador's gov-wallet sucks, their citizens DO finally have an accessible sound money. They have the option to go dark whenever they want. At 4:30, it's ridiculous to think that gov-money flow (cash included) isn't ~100% surveiled. At 14:10, I'm pretty sure the reason Schnorr signatures weren't used at first was because of (evil) legal/patent reasons, not because they weren't vetted enough. They're being included now cuz the patent just expired. At 19:30, lightning IS bitcoin ... it's just multisig. And the idea is that bitcoin is the least regulatable universal money. Monero is far more regulated (banned everywhere basically), has a far smaller and more centralized and attackable dev community, it's proof of work (i assume?) system is far easier for govs to attack/overpower. Billionaires probably aren't legally allowed to move their company's savings into Monero. By the way, Michael Saylor isn't in Bitcoin just to make money. When he was operating in Argentina, apparently basically overnight that gov decided to ban conversion out of the Argentinian currency, and then the next day they devalued it in half, so he lost half of his hard earned savings. Ie. he's in bitcoin to protect his hard earned savings, after he got badly burned. At 24:10, the El Salvador gov-wallet indeed sucks, but the fact that it's possible for their citizens to go dark is the amazing trojan horse. At 30:30, the Canadian truckers could easily have been funded in a censorship resistant way with bitcoin - they simply naively didn't expect that their gov would react so insanely and brutally. At 2:08:00, that guy's new-crypto-blockchain pitch ... :DDDDD :))))). Idk man, maybe you shoulda given him some better advice ;).
lol ! right permaculture is the best investment you can do ;) man will bring you there wife to suck you again 1 kilogram of potatoes ;) .. in a neat future ;) be prepared adios amigo
I really like your points and I agree with most of them, but, I have some issues about how xmr is competing with BTC, imo, they are not competing for the same thing, Bitcoin's goal is integrity and an immutable store of value, where everything is open, and I see that as a feature instead of a bug, xmr has a use as a tool, but since it's so easy to send money privately, governments try and force exchanges to delist it, thus making it less attractive. Also xmr doesn't have a max cap, and that's a bit sus ngl. Great vid!
it replaces a hard cap with tail emissions. Hard cap is sus for a useable currency. Hard Cap > Store Value. Tail Emissions or even a print on demand currency is the only viable thing with daily transactions.
@@clayotissmith158 I understand that, but that's quite bad for a store of value, since Bitcoin is capped, a unlimited supply of money (FIAT) will chase a finite amount of Bitcoin. Meanwhile XMR there will always be more, so why buy now and hold if you can just buy or mine later on. Still amazing tool
@@s1l3nttt duh no shit sherlock. go read the whitepaper and show me were it says a store of value... i will wait. bitcoin doesn't work as intended proven by the original whitepaper, store of value is pure bs propogated by the wef and there ilc. how you couldn't see the point of my post. lmao go read the whitepaper dum dum
The main feature of Bitcoin for me (other than all the P2P self custodian ideals) is that its creator is not known and will never be, it can't be pressed or coarsed by the government on doing anything. But I do recognize the privacy issues.
And if he was know, what could possible the goverment coerce him to do? They could put him in jail, that is all, Satoshi has zero power over bitcoin, that is how it works.
@@alejandrosrwebmaster I'm not sure what those government scums would do. There are more advantages of the author not being known, like people digging up the past and associating some ideology with the technology itself. And it's simply a better start for a de-centralized technology, there is no ego involved and prejudices.
99.9% of cryptocurrencies are neither "cryptic", nor currencies. they're extensions of fiat as digital assets in the form of dark pools with KYC. the actual tender is the smart contract & its permissions. the free-market highjacked the original Bitcoin idea into financial concepts (stock) rather than sound money, & yet it can barely be used as barter as of today, where it depends on the Forex market to designate its purchasing power (it is ultimately pegged to fiat, & that's its sole denomination), & not to the scarcity of itself, but to the pool of fiat it holds divided by its artificial scarcity, making it simply some sort of an illegitimate derivative.
all this to say that cryptocurrencies are just stocks. that's all that it's for. it uses the wrong metrics to make it a "currency". it would need to use a metric that does not rely on its own scarcity, but the scarcity of something else entirely that is quantifiable. the issuance of that "cryptocurrency" would be based off of that object. possibly the concept of mining can be the ultimate form of that object into a hash... but it cannot be corrupted by fiat. it shouldn't act as a stock. cryptocurrencies should have their own Forex market.
@@uptome4399 I meant it as "non-identifiable" & "untraceable". I know it means cryptographic, but there's a semantic dissonance going on.. where the prefix "crypto" can mean that it can tilt in favor of any party, either you or the authority that precedes over it's usage, rather than it being cryptic (where most people think it's safe for your to use under the nose of authority)
@@sgill4833 it not being traceable doesn't mean you can't use it to invest..... all investing is, is putting a resource into something to generate more resources. You can do this with monero. You can either buy and hold monero. You can buy other things with monero. Etc.
@@sgill4833 There are two financial investments.. capital growth and cash flow. If one has capital growth then it's an investment. You can use the capital gains as cash flow if you so please. Are you claiming if you buy shares they aren't investments as all? Such as Google, Amazon, etc, because they don't have dividends?
@my life is over Never try again It's some big-braned conspiracy that suggests that the internet is comprised of mostly fake users, like the person who wrote this comment. They're manned by an AI or glowie goon up to no good according to that theory.
I am your 256th comment, that's 8 bits! Now answer this question, which do you prefer? 1 KB = 1024 bytes Or 1 KB = 1000 bytes No KiB or multiple units of data, too much confusion & stupidity caused with that. There is only 1 & how will you choose to express that measurement system with binary or with decimal?
I mainly work with blockchain and stable coins, and now I`m starting to understand the fundamental goal of all this other than privacy and getting states out of the individual life. Something interesting I`ve been thinking about is how networks can (not so quickly, but they can) be connected with each other to group two or more distinct groups together, different cultures. This thing about connecting cultures is somehow something that the future will be made of; everything becomes digital groups that can be bridged between themselves and creating a large merge of groups with similar purposes. Every network has its particularities, and thinking further about the future, the quantum system could make a new revolutionary breakthrough applying insanely faster blockchain consensus using quantum internet. Before that, the ability to break it as well. The Cryptocurrency system will affect everyone so that they would end up choosing these groups and joining others while everyone else doing the same. Still, one day, the quantum internet will really make all of this a fun place for humans to be really free; otherwise, to destroy everything.
@@snk-js You should be physically separated. If you want to leave, you should be allowed to, but first stripped of all your possessions and citizenship
@@stigcc Things being physically separated is what we`re experiencing since the virtualization of the stuff itself; you would still be locked by what internet networks are most helpful: communication interoperability.
The problem with zcash is that it supports transparent transactions, therefore it is really hard to know if service provider even supports private transactions, since, you know, they never really tell you anything apart from what currencies they support, so you need to get to the very last step of whatever you are doing most of the time with said service just to get blue balled with transparent transaction. The algoryth itself is supposedly is not yet "cracked" unlike monero rings, but cracking of monero is somewhat questionable, so... Though they are smaller currencies adopting the algorythm , but without the transparent transactions, like ryo currency made by the guys who made xmr-stak
there's no future in cryptocurrency and currency just invest commodities like gold, silver if you can buy physical and store. Real estate (with mortgage) and funds. At least wait 3 - 5 years when investing these.
@@kimapr3817 no currency is private. If you want really remote just bu funds about commidies like precies metals etc. its not expensive anyway. Just look at silver price.
@Grace I invest in bitcoin on a platform, with assistance from their top crypto experts. *Sir* *Nicholas* *Merten* is my assistant, I have been trading with him for a year... I've really made a lot from his strategies in trading and mining of cryptocurrencies.
Now is the best time to invest in bitcion, I'm really taking advantage of the dip, I invested additional $5000 to my dashboard. A week ago, and presently I have $22,000.
1:27:00 ! wow .. never thot about that : paper physical monero backed by , indexed to real digital monero !! dammm 🏌️♂️🎯🎯🎯🎯🎯!! very interresting point !! the thing is that a decentralised currency will not be fully decentralised until the electric grid , the internet access is fully decentralised !! they can cut it at any point in time under any falls pretext . hopefully not
Finally, a collab with Mental Outlaw! I've been waiting for this Luke, glad you finally endorsed.
hhahaha nice one
hahahah
so true
I think he's spent too much time in France and developed an accent
@Glizzster it's a joke.
Luke is uploading much now with starlink, he like that friend that finally got a gaming pc at 17 and is trying to play every coop game from the past 2 decades with you.
lol wtf? i got a gaming PC when i was 16 because thats how old you need to be to get a job in my state. used a celeron until then.. TF2 on 20 fps, WoW on 25fps.. 800x600 res, all low settings. is it really the normal to have a $1000+ PC when youre 12 nowadays?
Would make more sense if you said he got his gaming pc at 40 lol
HD Webcams are bloat. Return to 240p
It was actually Jitsi that just continually lo-fied me.
I watch all youtube videos in 144p anyways
- Mom, can we have a Mental Outlaw at home?
- No, we already have one.
wow luke and another human
That's not the first time he talks with another human about Monero :)
@@porky1118 at monero talk right?
@@darkarie Yeah
Luke "I used to freestyle rap" Smith and his homieeeeeeeeeeeeees
lolol
Oh no, Kenny has changed a lot ...
I'm glad to see you're meeting your diversity quotas, luke.
Every crypto investor needs to see this
I see you are having fun in this collab, looking for more of this!!
Kevin Wad Finally got in touch with Mental Outlaw !
Layer 1 should be privacy, fungibility, ease of use etc. Layer 2 should be smart contracting.
agree !
There is no space. Man has never left earth and penetrated the firmament. Man never went to the moon.
Monopoly money is the most stable crypto.
very nice of you to collaborate with a fellow black creator!
Very nice of you to see the world (and judge) based on skin colors! - MLK
@@raiden72 that's how life is nikka.
Luke's shiny scalp and proclivity for the woods made me think he doesn't associate with such people.
High quality content dude! Appreciate you sharing and keepin it real
wrr
Thank you, I needed this video!
We need businesses that operate solely on Monero. So people can opt out of fiat.
hi ,
mmm... why you want to go back to fiat ?
would it not be better to have a kind of monero ZKproof stablecoin ? and make business with anyone anytime
sure it could be an issue to pay your electricity bills an other state controls service .. but think could be used for all the other things
cheers
Thank you Luke, I'm glad you're connected it's just like I'm a sponge and you you're the water
Cash can be seized through civil forfeiture laws (legal robberies.) I remember a story of a stripper having 1 million dollars she saved up seized after being pulled over on the freeway. She got it back but they couldn't do that if it was crypto. You can cross borders.
If they take your money and give it to the feds they get something like 75% of it back as funding and there is no way to get the money back when you prove the money you had was all legit because they don't have the physical money they seized from you anymore after giving it to the feds.
actually , they are seizing your , our , money everyday !!
Printing it like crazy ;)
@@micklbx9125
True...
You don't have to use a government wallet in order to use Bitcoin there.
People who understand Bitcoin won't use them.
LOL if monero is at state where bitcoin right now probably government will make monero wallet too! LOL monero shillers 😂😂😂😂
@@bahmak2003 What you are saying is not related to what I was saying.
It's true, but why are you saying that?
I resonate with Luke's position and passion on physical vs digital currency usage. In terms of privacy, gold coins are pretty sweet. However, digital currencies are very hard to counterfeit and relatively easy to verify/validate. Gold is vulnerable to counterfeit. Coins have to be minted. Gold bars have to be smelted and tested to a purity standard. The "trust" involved in an exchange with gold isn't as air tight as the "trustless" nature of crypto. It sure would be nice to not need the trustlessness of digital currencies... but counterfeiting is one less thing to worry about with digital crypto implementations (as far as I know). Tradeoffs.
@BZB
hi ;)
price of gold and silver are manipulated also at the level of minting declaration
..lot go out by the back door and are not even declared .... maybe waiting the price to sky rocket ? like the oil tanker who stay on the sea for month even years,like it happen on the 80 ... waiting the price to go higher
but i think you are right , a good crypto currency could be less or impossible to be falsified ...but i think .. only if it is a attach to a real decentralised anonymous , ZKproof stable coin ;)
stable coin is the key of the game ... that is why the stable coin regulation is the most important for the elite who does'n exist ;)
cheers mate
This was a great interview, very insightful stuff
Gotta admire the optimism from Kevin thinking humanity will become interplanetary
"The Good Government is the government that doesn't feel threatened" - priceless
Luke when all the coins are mined, miners will still collect on transaction fees. If the blockspeed slows down transaction fees will rise and the incentive will return. Not criticizing your other points. The biggest flaw of bitcoin IMO is that its a geopolitical risk and an incentive for governments to deceptively or overtly control the mining farms in their territory and the ones they can reach externally. Land military based powers are not just going to roll over to algorithm coders living in the clouds
but his point is that at current hash powers miners expect 45$ per tx, if there is no emission. It's not thta blockk speed would slow down, it's that it would become more lucrative to execute double spend with your hash power.
also iirc block speed would not slow down, they adjust difficulty if that happens, which again opens up to double spend
I wonder how much of an effect the deplatforming of Russian civilians by big tech will have on the value of the American dollar in the coming years. That was a very interesting point and only mentioned in passing.
@WhatsApp ➕❶❾❽❾❹❹❷❼❻❼❹ bruh
Very interesting video. Thank you!
Time to stack some Silver for true privacy.
Good luck selling
silver is just as private and decentralized as crypto, if not more. the problem is it's not divisible. If I want to buy a candy bar with silver i'm gonna need to break out a microscope and a laser.
ammunition is probably the best physical currency, although it's not so decentralized.
I guess in a crysis you would first have to turn it in for the new currency (eg. Cigarettes, Ammo etc.)
@@5000okok but then its not a currency anymore. it's a good you're trading for the actual currency. So youre gonna have to find a guy who can actually use silver, which...idk a dentist?
yea maybe it would.loose value. But ithink people would still use it to store their money. Like maybe the farmer sells his potatoes for currency and then changes some of it for precious metals.
as far as physical currency. If we take it to its' logical conclusion, we solve the problem of ubiquitisness by using stored energy as the exchange medium.
There is tons of all the elements in the universe, but energy is constant so we can exchange that. Like if we had perfect batteries thay where small, don't leak and can charge and discharge quickly we could use that as a physical form of exchange.
When will you do a video with Mental Outlaw?
Did you even watch the video?
this video is SO BASED.
Also it's known that microstrategy uses coinbase's custodial service to store their Bitcoin
This is exactly why I use monero. It's what people are actually using in the anonymous market right now. Nobody uses Bitcoin or anything else
Is it possible to cash out Monero anywhere though? I can't seem to find a way
Yeah I was just thinking the same if I was a vendor on a private market selling something to you and get payd in monero how and where can I then cash it out to $ or €
@@Kirt44 swap xmr to eth with an anon exchange (there are lots of them) and then cash out eth via an exchange. Tricky but not impossible. Also with things like Bisq you can just cash out immediately
You seem like the younger version of Eli the Computer Guy
love this constructive conversation. :)
I will forever be indebted to you, you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial
debt with just little investment thanks so much Mrs Desiree Madsen
I invest with Mrs Desiree too, she charges a 20% commission on profit made after every trading session which is fair compared to the effort she put in to make huge
profits
This is not the first time I am hearing of Mrs Desiree Madsen and her exploits in the trading world but I have no idea how to reach her.
As a first time investor I started trading with Mrs Desiree with just a thousand bucks. my portfolio is worth much more than that now within just weeks of trading
with her.
With the consistent weekly profits I'm getting investing with Mrs Desiree, there's no doubt she is the most reliable in the market. such a genius
@@timothyandrews3443 You can reach her on TELEGRAME, with the username investwithdesiree.
1:17:40 I don't want smart contracts in Monero. At least not turing complete ones like in Ethereum. If you want smart contracts, just use Dero, right?
@@Ryan-xq3kl I don't see a real reason in smart contracts yet.
Maybe a few specific functionalities, which are typically created using some kind of smart contract in order to communicate with Monero based platforms, for example a Monero based smart contract platform.
@@Ryan-xq3kl Smart contracts are completely inferior to regular contracts. Its a problem looking for a solution.
Grug invest in rock market vs Grug make Rock tool
39:50 Luke channeled his inner RMS
Kevin Wad asked me to do an interview. We're releasing it here first.
Kevin Wad's channel: ua-cam.com/channels/Mg5jHjEp59TKy_0tdoeXnQ.html
Him on Monero Talk: ua-cam.com/video/4lwRB7YxAsA/v-deo.html
Luke, salvadoran here, the govt gave $30 not 20, and also you were able to cash it out in an bitcoin ATM. You dont need to take a picture of yourself, a lot of my friend exploited the system since you only needed a picture of the id, and you can get sim card back there anonymously, since the wallet recognizes your sim card. Also, you can use any wallet that you want to pay, thoe yes people were sheepy enought to fall into the $30 bait. Also, bitcoin is not bound to taxes in El Salvador, unlike US that is not recognized as a tender but is Taxable (so much of freedom amirite?). The govt did a good thing with a hidden agenda that at the moment I’m still trying to figure out what the dark motives are besides the surveyllance of people’s monetary activity.
@my life is over Never try again Yes, we do have an extradition treaty, not only that most major banks in El Salvador adhere to FACTA. If you dont know about FACTA, is basically you gotta pay taxes to the US even if you are not living or working in the US on the foreign accounts you have and the earnings you do, luckily in El Salvador if you pay taxes to the US you dont need to pay taxes to El Salvador (as I have understood)
Luke what are your thoughts on the Haven Protocol (XHV) and other projects bringing privacy to algorithmic stable coins?
@@MrJoseklon most people aren't that interested in privacy that justifies the hassle of doing that. People will just do what they're told
@@SuperGuirro indeed.
Wow! I've spent many years cheering BTC and the recent KYC (recent for me) crap is really turning me off. I LOVE the idea of BTC, but in practice, its falling apart. I don't want crypto so I can get rich and buy a Lambo, I want crypto to work for the everyman as a stable, decentralized, private, deflationary, investment/currency. Your arguments are totally changing my mind on things. Are you big enough to debate Saifedean Ammous on these topics?
I want it to support struggling people without the government and insurance sector pulling everything they have from them because of it
Good one
Br?🇧🇷
@@vlad.the.impaler. Sim lol
@@ancapistaomarxista4071 nice mano 😂
The beauty of “crypto currency” is the variety. Communities can establish their own financial preference. Bitcoin is valuable as it stands. However, why stop there? Lots of opinions, lots of personal beliefs, that is the basis of decentralization. If a token or coin or whatever you wanna name it, they all have utilities. Some for gambling, some for investing. With the age of information, let the info flow. The more we become informed, the less we will be scammed
Nice video! Thank you
1:18:00 we already have, PHA, SCRT, Integritee
Thanks
Cryptocurrencies can not prevent fractional reserve banking. Even if all transactions is made in Monero, someone can set up some leech currency on top of it.
ya but it provides the alternative for people who don't want to engage in it
Haha for a split second when I saw the title I thought it said Keith Woods.
I think Keith did a Monero interview
Monero will never top Bitcoin, but I do believe privacy coins do have a place. But for world applications, having an open ledger is extremely important. Most people who gain financial security find value in an open and ledgered system. The government has less power than we realize.
@@CelonixCleaningServicesLLC “Future” is just as strong a word. And neither of us know the future for sure or whether fiat will exist in the further. Monero may be privacy, but Bitcoin’s algorithm so far is Top
how to prevent doublespending then every transaction is private and how can somthing be truely privat? well i have to read into monero thanks alot guys ^^
40:20 - Don't forget the best part about Bitcoin Extensions to make it do what you "want" it to do;
At every step of the chain to make BTC do its thing, without massive dataleaks, you have the potential for something (including You!) to screw up, and now the transaction goes off into the void.
Seeing that this is a decentralized system, that means NO TAKESIE BACKSIES on fudged numbers and addresses :- )
Each additional step is a multiplicative chance of irreversible error, so best to keep the number of steps low!
don't feed the satoshi void crocodiles
45:10 - exchanges are clearly Layer+1 🤡
interesting point where kevin said that if we expand into the universe that it would be post scarcity where the only scarcity will be digital, i disagree, for one time and energy will always be scarce and even if you have the abundance of infinity with material goods if its 100 light years away it is worthless to you
Energy is already infinite. Since the big bang.
Quantum computers are no threat to cryptography. The only thing they can do is work on more solutions with less accuracy. A quantum computer gives you a dynamic range of possibilities instead of just 1 and 0. It is the scientific notation of computing. Instead of a true to the decimal place answer, you get something that is close enough but with a fraction of the energy input.
I literally worked on quantum computing during my thesis. Quantum computing absolutely poses a threat to modern cryptography. However, it will very likely enable new kinds of cryptography which are specifically designed to be difficult problems for quantum computers to solve.
I don't know but its seems there was a language barrier right? Maybe the connection was not the best and that did not help. Anyway good chat Luke!
Math that humans can't break is truth until it breaks
Suppose you want to send money to the government(for paying tax let's say), but you are using a middleman to process your taxes. Is there a way that you could seal a portion of the payment so that it only gets opened by the department you want your taxes to go to? Isn't that the goal of encrypted transactions and zero knowledge proofs? Why shouldn't Monero aim for such functionality then?
Mining some right now. Mainly for free heating LOL.
BSV Is worth a mention no? Excellent discussion
When Ethereum switches from proof-of-work to proof-of-stake won't transaction fees stabilize to a reasonable, affordable amount?
Eth will be 100% centralized at that point. AWS could shut down in a heartbeat
Eth security will drop into the toilet with POS. 5% is a shit staking yield. Not many people have 32 eth laying around.
No, fees are a result of having more people willing to create a transaction that the number of transactions that can be made in the blockchain. That is purely a supply and demand issue where the proof algorithm is irelevant, the only two variables are layer 0 suply and demand of transactions (which in etereum includes smart contracts). It has nothing do with miners. Miners get rewared with block new coin and block fee, they migth decide to invest more or less in mining acording to expected profits, but they dont determine in any way the fees. More miners means more dificult to mine a block, the fees are the same.
@@alejandrosrwebmaster okay thank you for the information. Polygon network does not charge any gas fees; is Polygon mining but not charging users or is the network simply paying the gas fees on behalf of its users?
@@0x007A I dont much about Polygon but I understands it is layer 2, Transactions and contrcs inside do not run in the ethereum chain, it happens in their own chain. So they simply offer a diferent chain with more transaction per second. More supply of transaction slots, less demand of transactions.
Guy is discribing Cardano in every way, ugh if only cardano had privacy like monero...
If cardano had a baby with monero, it would dinosaur everything in the market
I probably care more about privacy than you (I push people to use freenet), but money is not just about us "radicals" (un?)fortunately. If we just wanted to transact with each other, sure, bitcoin could have gone completely dark on day1. But if we want this to be a global money, we have to try to meet people where they are. Bitcoin is a trojan horse, as we see in El Salvador, and with the Saylors and Musks and Byrnes of the world. Even though the el salvador's gov-wallet sucks, their citizens DO finally have an accessible sound money. They have the option to go dark whenever they want.
At 4:30, it's ridiculous to think that gov-money flow (cash included) isn't ~100% surveiled.
At 14:10, I'm pretty sure the reason Schnorr signatures weren't used at first was because of (evil) legal/patent reasons, not because they weren't vetted enough. They're being included now cuz the patent just expired.
At 19:30, lightning IS bitcoin ... it's just multisig. And the idea is that bitcoin is the least regulatable universal money. Monero is far more regulated (banned everywhere basically), has a far smaller and more centralized and attackable dev community, it's proof of work (i assume?) system is far easier for govs to attack/overpower. Billionaires probably aren't legally allowed to move their company's savings into Monero.
By the way, Michael Saylor isn't in Bitcoin just to make money. When he was operating in Argentina, apparently basically overnight that gov decided to ban conversion out of the Argentinian currency, and then the next day they devalued it in half, so he lost half of his hard earned savings. Ie. he's in bitcoin to protect his hard earned savings, after he got badly burned.
At 24:10, the El Salvador gov-wallet indeed sucks, but the fact that it's possible for their citizens to go dark is the amazing trojan horse.
At 30:30, the Canadian truckers could easily have been funded in a censorship resistant way with bitcoin - they simply naively didn't expect that their gov would react so insanely and brutally.
At 2:08:00, that guy's new-crypto-blockchain pitch ... :DDDDD :))))). Idk man, maybe you shoulda given him some better advice ;).
What's your opinion about grin?
Nice vid
Bro monero is unpumpable
this
@@Ryan-xq3kl have you looked at the xmrbtc chart recently? 😁
Lightning network is Private!
*El Salvador launches their own lightning network nodes & KYC wallet...*
uhhhhh..... maybe not! :D
lol ! right
permaculture is the best investment you can do ;)
man will bring you there wife to suck you again 1 kilogram of potatoes ;) .. in a neat future ;)
be prepared
adios amigo
hey Luke, important question: how do you securely store xmr
Zero-Knowledge Proof - Piratechain (ARRR)
yes sirrrr !! ;)
How about Loki Oxen?
Very based
a moment of great healing
@WhatsApp ➕❶❾❽❾❹❹❷❼❻❼❹ bruh what 😩
I really like your points and I agree with most of them, but, I have some issues about how xmr is competing with BTC, imo, they are not competing for the same thing, Bitcoin's goal is integrity and an immutable store of value, where everything is open, and I see that as a feature instead of a bug, xmr has a use as a tool, but since it's so easy to send money privately, governments try and force exchanges to delist it, thus making it less attractive. Also xmr doesn't have a max cap, and that's a bit sus ngl. Great vid!
it replaces a hard cap with tail emissions. Hard cap is sus for a useable currency. Hard Cap > Store Value. Tail Emissions or even a print on demand currency is the only viable thing with daily transactions.
bitcoins goal is digital peer to peer cash 1 cpu 1 vote. it says so in the whitepaper.
@@beardbandwidth8821 lmao what, Bitcoin mining is made on GPUs, and nowadays Asics, no cpu involved
@@clayotissmith158 I understand that, but that's quite bad for a store of value, since Bitcoin is capped, a unlimited supply of money (FIAT) will chase a finite amount of Bitcoin. Meanwhile XMR there will always be more, so why buy now and hold if you can just buy or mine later on. Still amazing tool
@@s1l3nttt duh no shit sherlock. go read the whitepaper and show me were it says a store of value... i will wait. bitcoin doesn't work as intended proven by the original whitepaper, store of value is pure bs propogated by the wef and there ilc. how you couldn't see the point of my post. lmao go read the whitepaper dum dum
The main feature of Bitcoin for me (other than all the P2P self custodian ideals) is that its creator is not known and will never be, it can't be pressed or coarsed by the government on doing anything. But I do recognize the privacy issues.
cia probably made it
And if he was know, what could possible the goverment coerce him to do? They could put him in jail, that is all, Satoshi has zero power over bitcoin, that is how it works.
@@alejandrosrwebmaster I'm not sure what those government scums would do. There are more advantages of the author not being known, like people digging up the past and associating some ideology with the technology itself. And it's simply a better start for a de-centralized technology, there is no ego involved and prejudices.
Nice
We already have private smart contracts on Secret Network
HOW ABOUT DERO??
99.9% of cryptocurrencies are neither "cryptic", nor currencies.
they're extensions of fiat as digital assets in the form of dark pools with KYC. the actual tender is the smart contract & its permissions. the free-market highjacked the original Bitcoin idea into financial concepts (stock) rather than sound money, & yet it can barely be used as barter as of today, where it depends on the Forex market to designate its purchasing power (it is ultimately pegged to fiat, & that's its sole denomination), & not to the scarcity of itself, but to the pool of fiat it holds divided by its artificial scarcity, making it simply some sort of an illegitimate derivative.
all this to say that cryptocurrencies are just stocks. that's all that it's for. it uses the wrong metrics to make it a "currency". it would need to use a metric that does not rely on its own scarcity, but the scarcity of something else entirely that is quantifiable. the issuance of that "cryptocurrency" would be based off of that object. possibly the concept of mining can be the ultimate form of that object into a hash... but it cannot be corrupted by fiat. it shouldn't act as a stock. cryptocurrencies should have their own Forex market.
Cryptographic ? Cryptic means mysterious.
@@uptome4399 I meant it as "non-identifiable" & "untraceable". I know it means cryptographic, but there's a semantic dissonance going on.. where the prefix "crypto" can mean that it can tilt in favor of any party, either you or the authority that precedes over it's usage, rather than it being cryptic (where most people think it's safe for your to use under the nose of authority)
The problem with monero is you can't invest it. Yes indeed it is a lot like cash but I don't need that much cash on me over a certain amount.
You can invest it. Monero is a traceable currency
@@jonohimself4566 monero is not tracable
@@sgill4833 it not being traceable doesn't mean you can't use it to invest..... all investing is, is putting a resource into something to generate more resources. You can do this with monero.
You can either buy and hold monero. You can buy other things with monero. Etc.
@@jonohimself4566 An investment has cash flow.
@@sgill4833 There are two financial investments.. capital growth and cash flow. If one has capital growth then it's an investment. You can use the capital gains as cash flow if you so please.
Are you claiming if you buy shares they aren't investments as all? Such as Google, Amazon, etc, because they don't have dividends?
stack XMR!
Monero had a baby and named is Safex
You heard about the dead internet theory?
@my life is over Never try again go search you lazy
@my life is over Never try again It's some big-braned conspiracy that suggests that the internet is comprised of mostly fake users, like the person who wrote this comment. They're manned by an AI or glowie goon up to no good according to that theory.
I am a bot
@@gagne6928 Me too.
I am your 256th comment, that's 8 bits!
Now answer this question, which do you prefer?
1 KB = 1024 bytes
Or
1 KB = 1000 bytes
No KiB or multiple units of data, too much confusion & stupidity caused with that. There is only 1 & how will you choose to express that measurement system with binary or with decimal?
Why do you have a gamer word on? Is he in Africa?
monero bagholder you know you know you know! 🤣😂😂😂😂
N
I mainly work with blockchain and stable coins, and now I`m starting to understand the fundamental goal of all this other than privacy and getting states out of the individual life. Something interesting I`ve been thinking about is how networks can (not so quickly, but they can) be connected with each other to group two or more distinct groups together, different cultures. This thing about connecting cultures is somehow something that the future will be made of; everything becomes digital groups that can be bridged between themselves and creating a large merge of groups with similar purposes. Every network has its particularities, and thinking further about the future, the quantum system could make a new revolutionary breakthrough applying insanely faster blockchain consensus using quantum internet. Before that, the ability to break it as well. The Cryptocurrency system will affect everyone so that they would end up choosing these groups and joining others while everyone else doing the same. Still, one day, the quantum internet will really make all of this a fun place for humans to be really free; otherwise, to destroy everything.
@WhatsApp ➕❶❾❽❾❹❹❷❼❻❼❹ go to hell
Funny, I would like cultures to be separated. Each developing according to their abilities and needs.
@@stigcc but if you regret staying in one, how would you handle?
@@snk-js You should be physically separated. If you want to leave, you should be allowed to, but first stripped of all your possessions and citizenship
@@stigcc Things being physically separated is what we`re experiencing since the virtualization of the stuff itself; you would still be locked by what internet networks are most helpful: communication interoperability.
Use Post Quantum Cryptography or GTFO
I'll link u to something new
These comments are pure cancer
LMAO THAT 100$ A MONTH STARLINK INTERNET AIN'T WORKING FOR SHIT HAHA
The accent is so french
@Buffalo , because he is !
Why not just go Zcash?
Something about it is closed
Ztrash
The problem with zcash is that it supports transparent transactions, therefore it is really hard to know if service provider even supports private transactions, since, you know, they never really tell you anything apart from what currencies they support, so you need to get to the very last step of whatever you are doing most of the time with said service just to get blue balled with transparent transaction.
The algoryth itself is supposedly is not yet "cracked" unlike monero rings, but cracking of monero is somewhat questionable, so... Though they are smaller currencies adopting the algorythm , but without the transparent transactions, like ryo currency made by the guys who made xmr-stak
glowcoin
Because it has a dev tax and privacy is optional.
Zcash is better than Monero for privacy in every way.
first!
@@ultimatums1 yes he is
there's no future in cryptocurrency and currency just invest commodities like gold, silver if you can buy physical and store. Real estate (with mortgage) and funds. At least wait 3 - 5 years when investing these.
gold/silver is not good if you want to transact remotely AND privately AND for cheap
@@kimapr3817 no currency is private. If you want really remote just bu funds about commidies like precies metals etc. its not expensive anyway. Just look at silver price.
Dude.... really?
Dude.... really?
@@roasted.cheese Dude.... really?
duuuuude
whaaaat
wazzup niqqaaaaa
who the f is this black guy?
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1:27:00 ! wow .. never thot about that : paper physical monero backed by , indexed to real digital monero !!
dammm 🏌️♂️🎯🎯🎯🎯🎯!!
very interresting point !!
the thing is that a decentralised currency will not be fully decentralised until the electric grid , the internet access is fully decentralised !!
they can cut it at any point in time under any falls pretext .
hopefully not
High quality content dude! Appreciate you sharing and keepin it real
Very interesting video. Thank you!