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this post was submitted on 02 Nov 2023
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Monero
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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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It is not. See this comment of mine on reddit and fluffypony's answer: https://old.reddit.com/r/Monero/comments/17m6w9e/psa_ccs_wallet_incident/k7mj2he/
Thank you very much. You pointed out there: "Nobody really used it, so it ended up being unstable and full of problems" and there was a reply, saying you “can't really force anybody to use something”.
I’d like to add another point of view. With reliably working multisig, we can have our own Bisq-esque DEX (at least in principle), and many people would love to use it, once it’s really available, right? For example, one might be able to sell and buy XMR in a safe and reliable way. Or eventually, though this might sound like a pipe dream but at least in theory, we might have a P2P proxy-store, where basically anyone can offer doing any shopping they can do for you. Just like on Bisq, both send securities first to discourage any cheats. When the seller ships whatever you’re buying, they “confirm” (or sign). When you receives it and everything is fine, you confirm too. Then, and only then, your security will be back and the seller will receive the locked xmr you initially deposit, and everyone will be happy. Multisig seems necessary (if not sufficient) for this to work.
This comment of fluffyponyza is also understandable. Generally, a programmer doesn’t want to change things when it’s working fine. “If it ain’t broke, don’t fix it.” In this case, something was (easy to) broken, though. Hindsight is 20/20.
Given that multisig is already available (just not yet well-tested), let’s stop joking like “We should keep our Monero in some other coin,” and try to think a bit more positively. At the very least it has been clearly demonstrated that Monero is so private that even core developers can’t trace it…
Troddit version links (a Tor-friendly instance) https://troddit.esmailelbob.xyz/r/Monero/comments/17m6w9e/psa_ccs_wallet_incident/k7mj2he - Onion -> http://troddit.esmail5pdn24shtvieloeedh7ehz3nrwcdivnfhfcedl7gf4kwddhkqd.onion/r/Monero/comments/17m6w9e/psa_ccs_wallet_incident/k7mj2he