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xmr.to in the wallet

davidlatapie posted this 9 years ago

davidlatapie | 9 years ago

An interesting proposal for mymonero: add an option to pay a BTC address (original idea by Johnny Mnemonic). Both mymonero.com and xmr.to would benefit from it.

The only downside I can think of is that it would send the message that Monero cannot stand on its own since it offers a bridge to Bitcoin. Still, I do not consider this criticism as a valid one (openness != neediness) so ultimately, I only see advantages on this. More integration, a more seamless experience.

Other wallets could provide this integration too, once xmr.to has finalised an API (if this is not already the case). This would also help wallet to differentiate from each other, much like my subaccount proposal.

Replies: 3
roosmaa edited 9 years ago Weight: -526 | Link [ - ]

> The only downside I can think of is that it would send the message that Monero cannot stand on its own since it offers a bridge to Bitcoin.

In my opinion this isn't a big deal. It's pretty clear that for the near-future there will not be "the one" crypto currency, but all of them will interop with each-other. I think this would be a great feature.

My only concern with it is that it would seem a lot like favouring a single for-profit business when it comes to converting to BTC (xmr.to vs ShapeShift). If MyMonero is not branded as "the official Monero web wallet", but "Monero endorsed web wallet" it would be OK. Otherwise it should be possible for people choose their BTC converter company via some sort of plug-in architecture (ie what onemorexmr said).

If MyMonero or some wallet was to integrate xmr.to/shapeshift, they would have a very strong value proposition for people using Bitcoins who value their privacy and want something that is easy to use and just works.

onemorexmr edited 9 years ago Weight: -614 | Link [ - ]

i'd love to see a plugin feature where any user could decide which plugins he wants from a secure (?) appstore like thingy.

integrating only one company in a service this central as mymonery (at least atm) IMHO shows the wrong message of a "secret club" (not that i think it is one - just keep it open ;)

binaryFate edited 9 years ago Weight: -614 | Link [ - ]

"The only downside I can think of is that it would send the message that Monero cannot stand on its own since it offers a bridge to Bitcoin".

I agree with you, but for me it's not a big deal. Here's why:

  1. You are absolutely right about the message. But let's not fool ourselves, the message is precisely that of the current reality. As of today, there is no practical use for XMR in terms of purchasing goods/services. Ideally moneroj should be spent directly to as many merchants as bitcoins can, but until we get there a mechanism that bootstraps real usage is not only useful, but also not something to be ashamed of.

  2. We are biased because we see this here from within the Monero community. But xmr.to as seen from the Bitcoin community point of view, helps to quickly get the most "anonymized" bitcoins (as in "not tainted with yours") you can currently get (admittedly little amounts). In a way, that kind of service could exist in the future even if it not useful anymore for Monero, because it will remain useful for Bitcoin users. When a bitcoin holder realizes currently the best way on earth to get anonymized bitcoins is to go through Monero, this is obviously a big plus for Monero, and this indirect positive message we can get out there should not be neglected.