As of this comment, Monero is #26 on CoinGecko's list of crypto by marketcap with Zcash at #27. I'm guessing that's why there's a few of these posts on HN all of a sudden.
There was never an expectation of privacy when you connect to servers outside your control with non-encrypted data. That is the reason why the article itself mentions that this isn't working when running your own node, as most people do.
This is the same thing as complaining that Monero is no longer anonymous because Windows is capturing screenshots and keyboard presses when you open the desktop app.
Monero remains anonymous by default.
Given enough foresnsics, it's possible to link pseudoanonymouse identities to real identities. See chainalysis. I'm sure if you apply stylometry to either of our posts, you could uncover our identities. I think there was a post here doing just that.
So my real problem with the pseudoanonymouse model is that when if fails, it generally favors centralized institutions in who are capable of the surveilance needed for correlation. It is asymmetric. People say that bitcoin's transparency is a feature, but the feature is only accessible to those with the metadata, like arkham or chainalysis. Reputation systems can be very useful though.
Huh, surprising -- it's very different from most people using most software. (Of course HN is not most people.)
I tried to fill myself in by asking Claude Opus neutrally "do most users of Monero run their own node?" and was told it couldn't find good data, it's community-promoted behavior, but there were multiple reasons for skepticism.
I have no idea, I'm just noting my surprise.
Your comment however does actually add nothing.
We get it you guys don't like AI, next!
It is equally obnoxious to people who talk about AI for everything as if it is a savior, it's a tool use it or don't.
If Claude as search engine were able to link to some backing (maybe like "we estimate around n nodes regularly joining the network, which roughly matches the order of magnitude of estimated users" ) -- that'd be great! I'd have said I was surprised but look what I found.
Instead:
- it couldn't dig up anything supporting, except that Monero sites encourage users to run their own node;
- one point it raised against was confirmed by another reply to my comment ("apps like CakeWallet, where their node is used and assumed as trustworthy"). (Claude listed the same and a couple more wallets it called "popular" with similar trust dependence.)
I agree with GP that just relaying a chatbot is rude. That's why I didn't do that.
Anyone curious about how Monero is implemented would immediately understand why it's a bad idea to use remote nodes.
>What is the difference between a lightweight and a normal wallet?
>For a lightweight wallet, you give your view key to a node, who scans the blockchain and looks for incoming transactions to your account on your behalf. This node will know when you receive money, but it will not know how much you receive, who you received it from, or who you are sending money to. Depending on your wallet software, you may be able to use a node you control to avoid privacy leaks. For more privacy, use a normal wallet, which can be used with your own node.
Most monero users are on the desktop where the common practice is to download and run their own nodes and/or use monero from Android on apps like CakeWallet, where their node is used and assumed as trustworthy.
To give background info: most users are on desktops because monero mining happens using CPU and instead of GPU, so they install the wallet which comes with a miner included and installs the node as well. They basically make some little income every single day and accumulate that profit.
The other miners like GuPax also install a node on the local computer as well, so a large majority of users simply runs nodes locally because they don't want to send their hashes to remote nodes which might fool them.
From that sense in regards to CakeWallet: Android isn't anywhere secure and there is a real danger that key credentials are stolen by rogue apps. In the end doesn't really matter much about whichever nodes are trusted by cakewallet because the monetary values hosted on those Android wallets don't tend to have much value much to begin with.
I've been a long time user and never saw reports of cake wallet being insecure or people losing their wallet money from there. In either case most people using monero tend to be extra cautious from the start.
It was basically spawned out of the government needing help with investigating crypto - I think it was Mt. Gox…
It’s technically possible, but not really practical. We’d have seen darknet markets as they currently exist eradicated a long ago.
embedding-shape•2mo ago
pclmulqdq•2mo ago
This attack doesn't seem to work if you run a monero node, though.
embedding-shape•2mo ago
pclmulqdq•2mo ago
vosper•2mo ago
> As it stands, any private transaction on the Zcash chain stands out like a sore thumb
Is that actually still the case or has the change to defaults made anonymity more common?
pclmulqdq•2mo ago
DennisP•2mo ago
https://www.coindesk.com/research/inside-zcash-encrypted-mon...
embedding-shape•2mo ago
Seemingly in the ecosystem you exists in yeah, but in the world at large Zcash seems to have at least 6x the volume. I guess "everyone else" didn't get your memo. Regardless, I don't really care personally which one is better or which one you specifically use, as long as what we say is being truthful :)
pclmulqdq•2mo ago
The majority of the on-chain use is also public transactions, so it seems the "privacy by default" setting doesn't really matter.
monero-xmr•2mo ago