When someone pointed to how Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm.
Riccardo Spagni tweeted: “Monero transacts $0 observable value per second.”
However, one of the users contradicted stating, Monero updates frequently, and just recently transactions got 25% smaller. Yet another user clarified stating, on average, there are around 20 transactions in each Monero block at the moment. Monero blocks are also more frequent than in BTC, every 2 mins rather than every 10.
While some of them took the tweet to mean that nobody is using Monero, there are others who say, Monero is where Bitcoin needs to be. Further stating, if PoS experiment on ETH works, Bitcoin needs to adopt that too. Just that many of them are not able to see the dots that Riccardo Spagni is talking about.
An enthusiast tried to clarify stating, Monero network transactions are only observable as happening or not; greater than $0 or $0 value transactions per second. Most of the time blocks aren’t empty, so it’s transactions of value per second are greater than $0 in value.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Monero (XMR) have very efficient transaction broadcasts and everything is moving as planned.”
Monero (XMR) Public Infrastructure
A tweet from user name Magic: The Bulletproofs+ proposal is fully funded; Dr. Sarang Noether will implement it in Monero. An audit is still needed after to confirm the safety of the implementation. Enormous thank you to all our donors! You support essential public infrastructure.
In response, Justin Ehrenhofer tweeted: “Thanks to the Monero communities and the donors who made this happen! Bulletproofs+ will make Monero transactions smaller and more efficient. This is MAGIC’s first project proposal. Hopefully we will have many more.”
One of the users felt that this is awesome but felt that it’d be great if they could donate via XMR (and someone just converted it for them) so those worried about donating to Monero related things could do so anonymously.
Justin clarified stated that Magic Grants accepts donations in XRP. One of them who checked the detail closely clarified stating, “We are required to collect information on our donors. Donors provide their name, email address, and address with their donation, and to leave a valid phone number. We promise. We only keep this information for compliance” I’ll stick to CCS I guess.
Whatever privacy with Monero is well sustained.
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