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Monero Project admits thieves stole 6-figure sum from a wallet in mystery breach (www.theregister.com)
submitted 2 years ago by to c/technology@lemmy.world
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[–] 26 points 2 years ago (18 children)

I used to be an old school supporter of cryptocurrency too, until that is when the scammers got their mitts into it and it went from a funny little technical hobby worth nothing to an overinflated shitfight that's robbed many people of their life savings.

Honestly, the entire cryptocurrency ecosystem is a parody of its former self and nothing the original inventors of it wanted it to become.

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  • [–] 17 points 2 years ago (12 children)

    Exactly, except not “the entire”, but “almost entire”?

    Monero has been largely detached from CEXes, no companies, no middle men… Many users still have that idealism, a cypherpunk philosophy, that which Bitcoin tried to achieve originally. It’s community-based and crowd-funded… Some of that fund was stolen, so we’ve got to admit that the Monero community was not so smart after all… Yeah, a bit embarrassing tbh. To err is human, I guess.

    For example, we do have a zero-fee donation site kuno.anne.media and recently help some girl buy a laptop or doing things like that. Some of Monero users are idealists by nature, maybe silly dreamers or naive philosophers, but definitely not greedy HODLERs. Weird people, either way, haha 😅

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  • [–] 0 points 2 years ago (9 children)

    I actually used to think crypto is a "weird fad and some thing people use to try getting rich". But then sanctions happened, and now I ADORE Monero. It allows me to easily pay for things I would've otherwise had to jump through hoops for. I am so happy that we at least somewhat have a payment system that can't be controlled)

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  • [–] 2 points 2 years ago* (last edited 2 years ago) (3 children)

    Originally Bitcoin had nothing to do with “get rich quick”. It felt vaguely like Freenet. It was experimental, philosophical, mathematical, cypherpunk… Almost no one had imagined that investors were going to be interested in it and something like that fad would happen.

    Unfortunately it’s not easy to get Monero. In several countries, CEXes don’t support it (delisted). Besides, getting Monero from CEX is not ideal privacy-wise. So, a typical Monero user gets it no-KYC, without using CEX. Which is legal, but rather complicated. That’s why I wouldn’t recommend Monero to regular people.

    As you said, Monero is such a great way for payment in a practical sense. Very low fees (~1 cent, no matter how much you send), private (only you can authorize transaction, no need to get a permission from someone else). The community is relatively small (monero.town on Lemmy), but generally nice and cozy. We seldom, if ever, talk about investment… It’s so different from what people think when they hear “crypto”. It’s understandable that some people assume it’s just one of those alt sh*tcoins.

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  • [–] 2 points 2 years ago (2 children)

    I would not use CEX under any circumstances - they require submitting ID, and I would not trust a random company to keep such data safe. But yea, discovery of sellers is a problem. Was going to go with a Localmonero one before finding someone IRL who sells for cash.

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  • [–] 1 point 2 years ago (1 child)

    https://monero.town/post/894750 So you did f2f… Glad it works, though. But how to buy it is irrelevant to the OP and is off-topic, so we shouldn’t be talking about that here.

    Basically I’d never recommend anyone to buy a significant amount of crypto hoping that you can get rich quick with that. Yes, it might go up, but it may go down. Encouraging such sketchy gambling would be crazy and irresponsible, and more importantly that’s not the original purpose of this technology. Yet you already even know localmonero, so yeah, you’re simply one of us. If you’d like to you can join monero.town or subscribe it from your instance :)

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  • [–] 2 points 2 years ago (4 children)

    What would be some examples of things you pay for with monero that you'd usually have to jump through hoops for?

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  • [–] 1 point 2 years ago (3 children)

    VPS and domain, primarily.

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  • [–] 1 point 2 years ago (2 children)

    Thanks for the reply. Isn't obtaining Monero more difficult then paying for those things on your card? Or are you doing it for the anonymity?

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  • [–] 1 point 2 years ago (1 child)

    I personally did it because sanctions made my card not work. So it was either paying with Monero directly, or finding a middleman and hoping he wouldn't scam you, not to mention that the latter would probably have higher fees than a Monero seller. But once sanctions are gone, I would probably continue doing so, just because I prefer not to use my bank card at all)

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  • [–] -1 points 2 years ago (1 child)

    I know exactly what Monaro is and you're not looking at it objectively but as a holder and fan. But that's okay I guess, as long as you're not involved in the scams and just like it for what it is. However, you sound a lot like someone preaching about some religion to others and you should be aware of that.

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  • [–] 13 points 2 years ago* (last edited 2 years ago)

    Sorry if I sounded unpleasant. I’m not holding Monero, I actually use it (just like one may use Paypal), is all. Still, as you can see I’m from Monero.town, so obviously I’m a fan. Guilty as charged!

    I’ve actually been “preaching” about privacy to my friends, but they’re typically like “Google is fine. I have nothing to hide.” Or about PGP (in vain). But I wouldn’t preach about (recommend) the privacy coin to regular people. Like you pointed out, it’s controversial and risky. As a long time user, I know too well about both sides of this.

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  • [–] 5 points 2 years ago (2 children)

    The nice thing about the unregulated cryptocurrencies is that everyone loose exactly how much they deserve to loose. No more.

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  • [–] 2 points 2 years ago (1 child)

    loooooose

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  • [–] 2 points 2 years ago*

    There are words that I always spell out wrong unless I do a double check before posting.

    However, I've heard somewhere, that this is not necessarily a mistake. Just a language evolving. So I'm not fixing it. /s

    edit: Jesus, I did it twice. I wouldn't be so mad if it wasn't a post in which I try to act so smug.

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  • [+] -7 points 2 years ago (1 child)

    So you were into “let’s invent a fake money so we can get other people’s money” as a thing?

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  • [–] 6 points 2 years ago

    I was into "cool techy nerd thing before it was used to fleece people" thing. When scammers started ripping people off with it we referred to them as shitcoins and a Bitcoin was worth basically nothing.

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