NYKNYC is a mantra that anyone in crypto community adhers to. Sending your precious XMR to unknown parties to get a token represented wrapped XMR is waiting to be rugpulled.
So no one in the core has even looked at the underlying code and yet there are people trying to sell wrapped XMR to newbies in the community.
@sgp@sgp@monero.town I totally agree with your comment, but why are you downvoted?
Pic related
Obviously vote manipulation.
How come everyone knows the shenanigans of vote manipulation and yet posts shilling for WXMR and shady market places (with no KYC fiat limits of 100,000 EUR) gets allowed on the original subreddit?
inb4 If you send XMR worth one gorillion dollars we will send you equivalent Euroinos via SEPA no KYC and no questions asked
Cheers,
- Freddie from Allfarts
At this point, vote manipulation is basically a reddit feature :|
While AllArk definitely doesn’t look terribly professional, I have never seen anyone actually complain about getting scammed. Since most of us here are free speech maxis, censoring them would be wrong, even if they act shady.
While AllArk definitely doesn’t look terribly professional, I have never seen anyone actually complain about getting scammed.
If it quacks like a duck and looks like a duck…
Since most of us here are free speech maxis, censoring them would be wrong, even if they act shady.
I am with you there. Freespeech ueber alles… I like it. Yea, fools might fall for scams… one cannot save everyone. Good job with monero.town btw. I am visiting shiddit less and less.
Would be nice if there existed a trust-less wrapped XMR, but at this point there are none that I know of.
There isn’t a trustless contract on Etherrium from what I know. But there will always be people who sell wrapped XMR and rugpull when a critical mass is reached.
There is this proverb, ‘A fool and his moneros are soon parted’, normies will nonetheless send their XMR and get WXMR which could be juggled and they can make a quick buck.
Kayaba has at least thought about leveraging SeraiDEX to make decentralized wrapped coins a thing. There’s a GitHub issue discussing it in the Serai repo.
Interesting, need to look into it.
it’s been done with bitcoin. I’m talking about renbtc. something for monero will come eventually.
The forthcoming Serai DEX is the best, risk-mitigated approach at this to date.
It’s not risk-free, but the native XMR is held in multisig wallets, and multisig wallet holders need to bond assets to qualify.
multisig wallet holders need to bond assets to qualify.
That sounds reasonable. Hope there was a way to prevent scamsites.io before Serai comes around.
