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Integrating Monero into Nostr
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this post was submitted on 29 Jul 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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Android (Cake Wallet) / (Monero.com)
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Monero, XMR, crypto, cryptocurrency
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Why not integrate Monero in the fediverse? That seems more useful.
The way I see it, for small transactions, I could deposit some Monero (say $20 worth) on chain to lemmy.world. Then I could use $10 to sponsor lemmy.world (or even pay a monthly subscription through it) and I could also instantly send $5 for coffee to a coffee shop that has a Mastodon account through the fediverse. The recipients can collect these small amounts and retrieve them in bigger batches on chain.
As long as the amounts are small, security and privacy considerations aren't that big. And the convenience of easy addressing and instant transfers would be a huge boon.
And in the fediverse I can always create a new account with any other server when I feel like it, so some privacy is easily achievable.
For bigger amounts or privacy sensitive amounts, on chain is the way to go anyway.
@alvvayson @trymeout I think the easiest way to make Monero payments possible in Lemmy is to convince devs to support profile fields: https://github.com/LemmyNet/lemmy/issues/246.
Then you can add your address to your profile and it will be visible to other Fediverse servers (profile fields are widely supported). People often use labels like $XMR and $BTC, that makes the address field machine-readable, so clients may display a donation button somewhere.
That sounds like an easy way to facilitate on-chain transactions.
Perhaps a good start!