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3 sats \ 8 replies \ @nullcount 31 Jul 2022 \ parent \ on: For those who dislike Monero…why? bitcoin
Who are the people that control XMR? And how do they unfairly benefit?
XMR has nodes and miners that follow a set of consensus rules just like BTC does. It's not just another smart contract token with a pre-mine where the contract is loosely defined or able to be changed by a privileged few.
Montero can't be audited. That means it is fundamentally untrustworthy, because you can't verify the inflation peomises. Bitcoin fixed that already.
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It can be. Please see XMR sub for how. 🙃
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It CAN be audited. However, an inflation bug could exist without being detected. If an inflation bug was exploited in BTC it would be obvious.
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Auditing that can't detect an inflation "bug" isn't auditing you can trust.
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Agreed. I never hold XMR for more then a couple minutes so if I get debased in that time, it's an acceptable tradeoff for me.
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Using a money like a hot potato because of its flaws does not bode well for that money's long term prospects.
As posted in a different comment, Monero uses cryptographic range-proofs to verify supply (nodes verify the range-proofs of each TX). In addition, a Python script to externally audit supply is under development: https://ccs.getmonero.org/proposals/monero-inflation-checker.html
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