🤵 #Tuxsudo - Block⛓️ #Monero 101: And what is the Recipe to PERSONAL SOVERIGNTY? AKA #FREEDOM!?
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https://youtu.be/tRv9vSxN3X8?si=IZp6q40RfL5mPxin&t=21
Okay. Hello everyone. Hope you all are doing well. This mic is
0:31
oddly balanced because there's one speaker there. That's okay. Uh so today I want to talk to you guys about uh a
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project that's actually been out for quite a while. Uh it's actually pretty old. It's pretty OG. Um I'm sure a lot
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of you have heard of it. It's called Monero. And uh in my opinion, Monero is the true cyberpunk cryptocurrency. It's
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the real cryptocurrency. Uh and I'll get into exactly why. Uh and my name is
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Tuxudo. Uh I work for Cakewallet. I do UI design and UI development for them
1:02
and I have a website tux.p pizza. I haven't posted there in like over a year. There's probably not that much on
1:07
there right now. Uh but you can follow me there if you'd like to and I'm on X as well. So to start off uh I want to talk about
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our idea of cryptocurrency. Usually when I talk to some random
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person about crypto uh I ask them about Bitcoin or they give me their opinion about Bitcoin. Uh it usually falls along
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the line of somewhere around it being this like internet hacker money and it's like super anonymous and that's what
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criminals use. Uh but that actually really couldn't be any further from the truth. Uh because the truth is Bitcoin
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is actually not very private. Uh which is kind of contradictory to the word
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crypto because when you look at the word crypto it's comes from the ancient Greek cryptos which means hidden or secret
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right? Right? So, when you think about cryptocurrency, it should usually imply you're hiding something. Now, Bitcoin uses cryptography, but it's not really
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using it to hide much. Uh because everything that happens on Bitcoin is fully transparent.
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Uh unfortunately, Bitcoin is not private. And because it's not private, it's not fungeable. It doesn't scale
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very well. It lacks uh long-term security, and it's a future liability.
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And I will address all of these points. Uh but because of how Bitcoin works, it is a typical transparent UTXO proofof
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work blockchain and everything that happens on the blockchain is fully transparent and that's just how it works. It's a public ledger. If I were
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to send you $5 worth of Bitcoin, I would get your Bitcoin address. I would send make create a transaction and all the
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details of that transaction are fully public. Now, when you look at the blockchain explorer, you're just going
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to see some addresses and you're going to see a specific amount of Bitcoin being transferred from one address to another. The issue mainly comes in when
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third parties can correlate an individual or a merchant or an institution with those addresses and
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that's how they create these giant transaction graphs and that's how they track everyone across Bitcoin. Uh over
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time they're just able to correlate addresses to individuals.
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So uh Monero tries to address a lot of these issues with Bitcoin and it does so pretty well. Uh Monero has actually been
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around for quite a long time. It came out in 2014 is when it was first deployed. It is a unique blockchain. It's not a fork of bitcoin. Uh it was
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forked from bitecoin and is using the crypton v2 protocol which was written by
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n was authored by Nicholas van saberhagen. Uh the block time is 2 minutes instead of bitcoins 10 minutes.
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So it's got a much faster confirmation time. Uh its hash function or its mining algorithm is random x which is asich
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resistant. Now I'll talk about that a little more later. I guess the HDMI is having a hard time here. Uh the block
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reward is 0.6 XMR and we are currently in tail mission which I'll also address
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on a later slide. Uh these are the basics. Uh otherwise it works pretty similar to similarly to Bitcoin. It is a
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proofof work chain. It uses a sort of UTXO like model. Uh but it has a lot of
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specific features uh that kind of deviate it quite heavily from how Bitcoin works at the base protocol
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level. So, uh, an interesting tidbit is that Satoshi back in the day when he was
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still active before he disappeared,..
more..
https://youtu.be/tRv9vSxN3X8?si=IZp6q40RfL5mPxin&t=21
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