How does the GrapheneOS Foundation treat Crypto donations?

N1b

XMR is currently down 35% due to it being delisted by Binance. I was about to donate another 1XMR to the GrapheneOS Foundation, but now I wonder how quickly you would exchange it to USD (if that's your process).

In case you exchange to USD or any other FIAT currency within days or weeks, it makes sense to donate when the course is high (or at least when it's not at a 3-year low). On the other hand if you don't intend to exchange, it wouldn't matter at all when we send you our coins.

I couldn't find any details on your donation page in this regard.

raccoondad

N1b Didn't realize the price fall, damn that sucks I use XMR to pay for my servers...

missing-root

Wait so you get more XMR for the same money right?

So if they just not spend it, a donation of a certain fiat amount would be more XMR in the future?

64ci7

missing-root Yes, if they hold and the asset price goes up they would have more value denominated in fiat.

N1b

Worth mentioning: I like the idea of evaluating prices in XMR and not USD, so my goal is to always donate 1 XMR and not e.g. 160 USD. I have plenty of XMR so it's not like I'm buying them right before donating (although I consider this current event a fire sale and am buying plenty).

In the last few hours the price climbed up again (still -20%), but given those events can happen any time, it would be good for GOS to time their payouts wisely in case XMR donations are coming in higher quantity.

ponymontana

N1b In the last few hours the price climbed up again

I suggest you to observe xmr/btc graph, It's not climbing at all. I don't know if they detain their finances in xmr or fiat, but the saving technology to protect value from confiscations and inflation is bitcoin.
If they want to have long-term sustainability with their donations I expect that they will save them in bitcoin.

N1b

I hope bumping this up is not annoying, but in case someone from the GOS team is able and willing to give us a hint about the treatment of crypto donations, I'd highly appreciate it.

N1b

ponymontana the saving technology to protect value from confiscations and inflation is bitcoin

I agree, BTC is the only truly decentralized technology out there. The SEC confirmed it's the only commodity among crypto coins while everything else is an investment contract. BTC is also the single one failing the Howey Test as there are no identified people or companies managing it.

For me, XMR is the only crypto currency with value and right to exist out there next to BTC, because of the added privacy and anonymity layers. It's much more like cash compared to BTC (lightning) and important for hardened threat models, even if it is technically not a commodity.

GrapheneOS

We hold onto the Bitcoin, Monero and Ethereum. We pay nearly all the project members with cryptocurrency directly. We have to convert Cardano, Litecoin, etc. to Bitcoin or Ethereum occasionally because we don't get nearly enough to use them for transactions. It's getting harder for project members to convert Monero to fiat but some project members only feel safe being paid privately via Monero due to attacks on the project and extreme harassment targeting project members. Donating Monero helps us pay these developers, as long as they can still find ways to convert it to local fiat.

boldsuck

GrapheneOS Donating Monero helps us pay these developers, as long as they can still find ways to convert it to local fiat.

Most project members will know bisq.network and development of Bisq 2.
Monero<->fiat haveno.exchange will probably go mainnet soon. The council vote is currently in progress.
Haveno is still in testnet operation (Monero stagenet). Anyone can help find bugs, don't use real Money yet.

boarim

GrapheneOS Donating Monero helps us pay these developers

I’m happy to know that my donations in Monero serve this purpose. Thank you for the insight 😉

Scott

GrapheneOS It's getting harder for project members to convert Monero to fiat but some project members only feel safe being paid privately via Monero due to attacks on the project and extreme harassment targeting project members

I'm very sorry to hear that. Instead of thanking Open Source developers, you get harassed? I no longer understand the world. It's a very strange world we live in. Can you give me a little details? Why are you being attacked? What do the bullies accuse you of?

N1b

Thanks a lot for the detailed answer!

Viewpoint0232

N1b For me, XMR is the only crypto currency with value and right to exist out there next to BTC, because of the added privacy and anonymity layers.

I fully agree. It also has much lower fees for transactions than BTC. I would even say that the only advantage BTC has is that it is more regulatory friendly which then leads to secondary benefits such as universal acceptance at all exchanges and on/offrampers. I don't really buy into the "store of value" argument though, because XMR also de facto has a fixed supply; it will be smaller than Bitcoin's supply until 2040 and even after that the small tail emissions will be offset by burned Moneros (people losing their seed phrase or dying without sharing it).

ponymontana

N1b I agree, today monero has his sense to exist as a medium of exchange.

Viewpoint0232 I would even say that the only advantage BTC has is that it is more regulatory friendly which then leads to secondary benefits such as universal acceptance at all exchanges and on/offrampers.

I don't agree, bitcoin advantage are far more.

1) immaculated non-replicable conception (every way you can create and distribuite a coin after bitcoin will result in a scam basically).

2) market-convergence as protection of monetary policy.
Bcash drama is an example on how bitcoin is unchangeble (or, at least, more resistent to change than any other possible shitcoin). Monero basically hardfork everytime the centralized development team have some new ideas to test. Bitcoin is not scarce only because supply is fixed at 21 million, but because you can expect that noone will be able to print more of it; there is a strong decentralized non-replicable network effect enforcing the consensus rules.

They are different project: monero is a private-medium-of-exchange tech, bitcoin is money.

boldsuck

boldsuck Most project members will know bisq.network and development of Bisq 2.
Monero<->fiat haveno.exchange will probably go mainnet soon.

LocalMonero and AgoraDesk is down but a real Monero DEX is up.
Haveno (a Bisq1 fork) mainnet has been live for a week with Haven-reto, latest build haveno-1.0.5 :-)
Haveno DEX Direct Fiat to Monero transactions small Howto by Nihilist
monero.town Haveno Reto is LIVE
I have successfully tested some SEPA trades.

boldsuck

ponymontana bitcoin is money

And with the upcoming halving, the fees will rise enormously again. ;-(

When it comes to money, everyone has to decide for themselves what they do. Anyone who uses cryptocurrency and not just HODL it, usually has to use different coins. Alternative, swap-on-the-fly services charge fees.

ponymontana

boldsuck in the future the layer 2 will be the root for normal txs. Today lightning works well, but it has still some problems with high amout txs and high on-chain fees for opening/closing channels.

In the gold standard, people used silver for daytoday txs because gold was too valuable (a month of salary of a pleb worked better as "x silver coins" then "a quarter of a gold coin").

Today with bitcoin there are similar problem that gold had and It's ok to use all the technology we have today, shitcoin included, to do transactions. But shitcoin can't be store of value on the long term, so can't be money, as the first necessity that money solves is preserve value in time and space.

DeletedUser370

LocalMonero and AgoraDesk is down

What are some exchanges that the community currently recommends for buying Monero? I'm considering buying a Trezor wallet to store cryptocurrency that I will donate to non-profits, including the project. But I'm entirely new to this, and I'm very wary of which sources on the internet to trust, given the amount of cryptocurrency scams out there.