binaryFate

PhD CS, AI/Combinatorial Optimization.
13-years BTC & XMR entrepreneur and contributor.

Privacy is paramount to a free future.

[Pavol Lupták @wilderko]

It's terrifying, but practically every company that has contacted me in recent weeks has been offering to make us "compliant" with some new EU/state regulation:

1. One company contacted me asking whether we ship goods within the EU and whether we need help with the new PPWR "packaging" regulation.

2. Another company asked whether we already have an e-invoicing provider — and if not, we could do it through them.

3. Companies have been contacting me for years offering GDPR compliance.

4. Every now and then I get calls asking whether we provide mandatory "health care" for our employees.

5. Even though we ARE an IT security company, companies keep contacting me because of NIS2, asking whether we want an external security manager.

6. Consultants have already called asking whether we need ESG / CSRD reporting (sustainability reporting).

7. Last week yet another company reached out asking whether we need to update our "transfer pricing" documentation because of some changes in the law.

What do all these companies and their services have in common?

Their business is built on some state regulation. Outside the EU, nobody would voluntarily order their services. In the EU, you have to — because the law requires it.

In economic theory, this is called rent-seeking: entirely new business sectors created without producing any real value — the only "value" is being compliant with some state regulation.

They say the total tax burden in Slovakia is 64%. I'd argue it's substantially higher. EU companies have to pay for things that make no sense outside the EU and that nobody there would ever order without regulatory pressure.

In my view, half of the costs European companies bear are compliance costs for some European/state regulation. And then we wonder why we're not competitive with the rest of the world.

When you think about it, it's absolutely brutal.

Doing business in the EU is masochism.

https://t.co/YHuW8JcA8j

[binaryFate @binaryFate]

@cry0n1 @fluffypony @hintjens @hintjens was great

[Riccardo Spagni @fluffypony]

Here's some fun early Monero history - in 2014 / 2015 there weren't a lot of donations to cover Monero costs, so core contributors would pay for them out of pocket. We tracked all of this on a spreadsheet (that we still have) because we figured one day we'd be able to get it back from the dev fund - although we never ended up doing that😅

In total I spent well over $100k on Monero development until the FFS and donations made it more self-sufficient towards the end of 2015.

What did this pay for?

It included things like making Monero work on Windows (via msys2 / mingw), building out the entire FFS (which eventually became the CCS), all the work on the first GUI, lots of early cryptography work, all the initial embedded DB work (Monero loaded the entire blockchain into RAM until the beginning of 2015!), the work on MRL-0001 / MRL-0004 / MRL-0005, and Monero's 0MQ integration.

Monero is only where it is today because of the sacrifices and early financial contributions of people like othe, NoodleDoodle, as well as the tireless (and unpaid!) efforts of people like smooth, David Latapie, moneromooo, WarpTangent, luigi1111, binaryFate, and countless others I've failed to mention.

[Riccardo Spagni @fluffypony]

To put to bed the claim that a Monero viewkey that allows you to see that funds have left the wallet is a new thing, not only has it been discussed at length since Monero's outset as an enhancement to the incoming-only viewkey (which, in turn, has existed since Monero's creation), but here is an open GitHub issue from 2016 with the very first concrete proposal:

https://t.co/zSWTbGCz75

When Carrot goes live, this 10 year old issue can finally be closed.

Sadly, my 2014 proposal to use "account" instead of "wallet" as the nomenclature never got the same traction:

https://t.co/6cP3bwqOn1

Oh well🙃

[binaryFate @binaryFate]

@Bank_Exit @monero @fluffypony DM me. I'll advise you on some options.

[binaryFate @binaryFate]

@Bank_Exit @monero @fluffypony You mention an event? Again, what's your use case? Sorry I have no idea what you're trying to do and for who?

[binaryFate @binaryFate]

@Bank_Exit @monero @fluffypony Importing the .raw is slower than syncing from scratch, unless you don't verify anything which is a bad idea. All references to the .raw should have been removed from website. Where did you get the idea and most imoortantly what's your use case?

[Monero (XMR) @monero]

We're celebrating our 11th birthday today! 🎉

A happy Moneroversary to all, may your life be full of privacy and to many more years of Monero being the cryptocurrency that keeps your transactions and holdings private and secure!

[binaryFate @binaryFate]

I posted a #Monero General Fund transparency report: https://t.co/hXP3Vo6Amr
Can your project thrive without founders, premine, foundation, entity incorporated anywhere? Blossom for 11 years with only volunteers and anonymous donations?
Feeling alone but happpy in MoneroLand! :)

[MoneroKon @MoneroKon]

🗓️Save the date: MoneroKon will be held 20th - 22nd June 2O25 at @secondculturecz (previously known as @Paralelni_polis). Sign up to our mailing list to be notified when tickets go on sale: https://t.co/kjoWsOWEbz

@monero #monero $xmr

[binaryFate @binaryFate]

@janowitz @RINOwallet Thanks, sucks but unfortunately the monthly servers costs are substantial. Definitely sad

[Pavol Lupták @wilderko]

How Chainalysis Made Their Way into Popular Monero Wallets
https://t.co/lU9fVpeAfN

[binaryFate @binaryFate]

@janowitz @Real__Glitch Thanks :) If you have a look around or even try it out with a small invoice, would love to get any kind of feedback

[binaryFate @binaryFate]

If you're a freelancer or contractor regularly invoicing EU/UK/US companies and you want to get paid in crypto, this is the simplest way. You don't need to convince the companies paying you. In fact these companies may not even know that any crypto is involved.

[Archway.Finance @ArchwayFinance]

Work from anywhere with peace of mind knowing your payments are secure and timely.

Archway ensures you get paid, wherever you are, without the hassle of delays or high fees.

#FreelanceLife #RemoteWork #ArchwayFinance

[binaryFate @binaryFate]

@Real__Glitch signing monero bins is my solid proof of life

[binaryFate @binaryFate]

@Real__Glitch There is no KYC till 1000€.
I'm one of the co-founders and would love to see Monero supported, but we'll need to see proven demand to convince my partners :)
Anyway thanks for having a look and feedback.

[binaryFate @binaryFate]

At first glance, looks outstanding. Great job.

[Pavol Lupták @wilderko]

Here you will find every Monero resource imaginable ranging from how Monero works, how to run a node, where to spend it, tutorials, tools, blogs, technical resources and documents, statistics etc
https://t.co/FUZA4gbMg3

[binaryFate @binaryFate]

@sethforprivacy You must have missed the Monero Policy Working Group answer to the FATF guidance. We emphasized at the time that broad VASP interpretation was the main concern.

https://t.co/KdUwhfE4ar

[MoneroKon @MoneroKon]

Open call for volunteers. #MoneroKon is a voluntary association of freedom-loving individuals united for the common purpose of protecting the human’s natural right to think, speak, and transact privately /w use of advanced cryptography. Come join us, https://t.co/0GAC7YKEcJ

[binaryFate @binaryFate]

@pfiifeflutscher @schmidt1024 Rino doesn't help for that use case.
There are fallbacks in place if I get hit by a bus. Will happily change setup when convincingly possible, as I am practically affected in my own personal life for these services rendered to the community.
I publish key images with each report.