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How many “privacy coins” do you need if xmr is

as private and secure as it’s assumed? Like how many “bitcoin wannabe” coins u need when u got bitcoin?

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Diversity of species is important for any ecosystem as a whole. It’s good to have competition. It contributes to rapid (memetic) evolution, and anti-fragility. That doesn’t mean there isn’t a primal species, but it’s still beneficial.

Alex
Diversity of species is important for any ecosyste...

In the crypto space imo every shitcoin is an rugpull, same as tokens. But I like xmr, its nice to buy with kyc then swap for bitcoin :) I only see the future where western societies are cashless. My home country are almost cashless now, can’t even buy a beer at the bar with cash need visa or mobile pay… almost so I can’t take public transportation with cash no more. I see why we need bitcoin/monero etc

🕵️⚡🐇🕳️🥊🏴‍☠️
In the crypto space imo every shitcoin is an rugpu...

Yeah, I’d agree that rug pulls aren’t actually useful, except for the people pulling the rug.

Alex
Yeah, I’d agree that rug pulls aren’t actually use...

Idk if I have the morale to get rich from a rug pull. Seems a bit cold and harsh 😂

🕵️⚡🐇🕳️🥊🏴‍☠️
Idk if I have the morale to get rich from a rug pu...

An ex coworker wanted to test if people actually read the smart contracts of ETH-based tokens before buying them (spoilers: they definitely do not). To test it, he made a very simple smart contract (that should have been easy to read even for non programmers). Its only purpose was to block trading after he sent a signal to block it. He got some friends to hype it up on reddit and in telegram and discord groups, and made a few million after a few days 🤦‍♂️ then locked trading. He felt bad so returned the money that he made from it. (Although I’m a bit rusty on the details - I’m not sure how price slippage would have affected things, maybe some people still lost money)

Alex
An ex coworker wanted to test if people actually r...

People don’t read EULA or anything with small text shit not even big text…

Alex
An ex coworker wanted to test if people actually r...

Now I have a good credit score lol. I’m just saving it for the next crypto winter crash and borrow as mush as I can to buy btc/xmr lol I have already paid back last loan after Sam bankman 😂

No, FLUX is a complete;ly different purpose, it's shared internet resources like the Amazon one or I think Internet Computer blockchain is similar but a corporate version, very likley designed to rip offf FLUX and wipe FLUX out. If FLUX is really a private version of ICP then people should be supporting it, it can fill an important niche in blockchain privacy.

Alex
An ex coworker wanted to test if people actually r...

Wow and he wasn't even really trying, shows you how easy it is for smart scoundrels.

lock breaker
No, FLUX is a complete;ly different purpose, it's ...

FLUX is a very well established huge network, you can rent computer resources on their website just like with Amazon cloud computing. Beldex much more unknown, younger and smaller so def wanna tread carefully there. Just checking out another coin safecoin, copy of and supposedly improvement on Solana, looks like was a total scam but the white paper etc sounds great. BEldex also if not a scam would fill a different niche than monero, built on monero but with a smart contract ecosystem. I guess someone in monero would know a lot about it given it uses monero code.

Alex
An ex coworker wanted to test if people actually r...

It’s good that this was an experiment, but in reality there are many scams where people lose their money.. According to recent estimates, around $1 billion in cryptocurrency fraud in 2023 was specifically associated with rug pulls. This typically occurs by using token names that resemble well-known projects, such as the AIPEPE scam token. Identifying whether a token exhibits signs of fraud can be done by analyzing the smart contract. If functions like disable selling, change fees, mint new tokens, or transfer tokens are present, it can be said with 99% confidence that it is a scam. Be careful 👀

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