Stay up to date on all things crypto and blockchain
Token Daily is a place to discover trending news and products in crypto and blockchain.
Source: coindesk.com ·
The protests have coincided with a 20 percent increase in Bail Bloc's hashrate and other bail funds are taking bitcoin dinations.
Neeraj K. Agrawal - @NeerajKA
3 months ago
People are donating their idle computer capacity to mine cryptocurrency for bail funds https://t.co/kRb1dKmLXR
6
26
Michael Casey - @mikejcasey
3 months ago
Monero-for-Bail Project Sees Increased Demand During Protests https://t.co/n8M6nH6WoQ via @coindesk
2
2
Mason & Co. - @masonic_tweets
3 months ago
Who thought of this? https://t.co/zCxnf2G8ym
0
4
Epidemic_Fancy
3 months ago
Although it is much better than nothing at its current “growing” rate; roughly 2.57 XMR per month without any further pool fees or expensive electricity areas your looking at maybe $200/month. So if your lucky and everything is pro bono you’ll be able to bail maybe one person out.
Would love to know how they came up with the $8000 to bail “13” people out at ~94Kh.
It just doesn’t add up.
This isn’t necessarily good PR for Monero. And no not all PR that just magically brings attention to the few hundred people that may read that article is good news for the community.
4
SamsungGalaxyPlayer
XMR Contributor 3 months ago
It's well documented that the bail system disproportionately impacts minorities and that the vast majority appear in court.
5
Epidemic_Fancy
3 months ago
In addendum regardless of my previous point(s); [in reply to your last comment] my point was that this is not making a meaningful difference that the dramatics of the article and headline would like some to believe. Additionally instead of people spending their time reading that creation it would have made logical sense to have spent all their previous time properly marketing a well written donation fund instead of people donating their hash power to create a measly 2.5XMR a month.
It’s an ill designed plan that seems far more likely to be for attention than benefit said cause and actually trying to create a serious impact in “bond funds raising” essentially.
And I am not trying to be rude at all and apologize if my words come across phobicly I just strongly disagree with this platform and feel that it’s intentions are good but the ploy for said intention is poorly committed and thought out.
The organizers of said fundraising seem to have poorly informed knowledge of how the system actually works. Not how they want it to work or the way it sometimes works but the overall way it is implemented.
The bonding process is fairly concise but not entirely simple. In most cases where bond is required; the offender is most likely a high flight risk and repeat offender. 90% of people that “go to jail” for the first few times (violent crimes notwithstanding) are released within a few hours to a day or two in holding at most with no bond required whatsoever.
2
Epidemic_Fancy
3 months ago
“It's well documented that the bail system disproportionately impacts minorities and that the vast majority appear in court.”
I am in no way belittling the current turmoil many find themselves at the hands of the law and am not at all being sarcastic but doesn’t the vast majority of anyone appear in court once bonded regardless?
How exactly does the bail system disproportionately affect minorities of any class in particular overall data points?
I’ve been arrested and on the other end of the spectrum used police resources for my aid when necessary; dealt with extremely negative unprovoked reactions and positive police interaction on both sides of the bars.
Source: I have been to prison.
1
CarlSpender
3 months ago
It doesn't.
​
and yes, you can certainly find information that is far reaching and full of weak attempts to connect dots where they do not exist.
The bail system is fucked, but it's quite literally fucked for everyone.
The only true way to come to this conclusion would be to find individuals of different races that committed the exact same crime, under the exact same circumstances, who seen the same exact judge AND who have the same exact criminal history - then you'd have to replicate that model over thousands and thousands of cases before you could reach any logical conclusion that one race is better off than another as it relates to Bail.
2
Informal_Sign
3 months ago
More excuses & made up crap that just doesn't work in real life. If someone keeps seeing the same judge for the same crime, it's that person's fault for being dumber than you by breaking the law all the time. If black people wanted to stop getting locked up as much, then they need to stop shooting each other & commiting the majority of violent crime in all of the USA.
0
SamsungGalaxyPlayer
XMR Contributor 3 months ago
Here's a quick intro: https://youtu.be/IS5mwymTIJU
2
Informal_Sign
3 months ago
No government would go for it anyway. Even if they did start accepting crypto payments for stuff like bail, back taxes, child support, or outstanding fines, they would still make sure they knew the identity/source of the payments.
4
SamsungGalaxyPlayer
XMR Contributor 3 months ago
It's not about accepting crypto. It's about a temporary solution to a problem while pushing to reform the bail process. This is how Monero (mostly RandomX) is one minor tool that can help.
2
Informal_Sign
3 months ago
That might help now with Moneros image for one portion of the population with all the riots taking place. But after the election is over & they need something else to gripe about, this could easily backfire in the future. BTC already has it's PR problems for being well known to buy illegal things on the darkweb. But it's sheer worth outweighs that at the moment.
I want XMR to become the top dog in crypto as much as anyone else here. I just don't think this is something that the monero project should officially endorse or support if the monero project wants to grow & be adopted by everyone from all walks of life like it's currently doing.
That being said, if people want to mine crypto in a pool & donate all of it for a political cause, that's their business & they're free to do so.
But the second an organization, corporation, or public figure takes a political side, they instantly limit their potential base by alienating others.
Crypto in general is just another form of money. So if everyone isn't using it, then it won't make the world go around.
2
xmrhaelan
Monero Outreach Organizer 3 months ago
This is not the Monero project officially endorsing Bail Bloc or seeking acknowledgement from any subgroup. This is an article about a random third party adopting Monero technology to support their mission.
4
Informal_Sign
3 months ago
I know. And that's fine with me. Im just saying it's a bad idea for any crypto to officially endorse anything political. The bail fund just being a 3rd party, any negative PR for paying bail would fall back on that 3rd party. Either way, XMR gets free press so that is always good.
0
SamsungGalaxyPlayer
XMR Contributor 3 months ago
Covering bail for those who can't afford it isn't really a political issue as far as I understand it. I don't really see who would find this extremely controversial.
2
CarlSpender
3 months ago
>Covering bail for those who can't afford it isn't really a political issue as far as I understand it. I don't really see who would find this extremely controversial.
​
You cannot guarantee that the money is not being used to bail out those who were arrested for rioting or looting - at least, I haven't seen where that's taken into account. Now that Antifa and their counter-parts (really anyone who associates) is being investigated as a terror organization it would be very easy to find situations where this fund bailed out such people..
​
"XMR fund used to bail out domestic terrorists.."
"What is this project that is used to support domestic terrorists.?."
2
Informal_Sign
3 months ago
You actually can guarantee the money if for the rioters because that's what they say it was for. Just like all the Hollywood antfia members ponying up all kinds of money so their voting base isn't still in jail by November.
1
SamsungGalaxyPlayer
XMR Contributor 3 months ago
Where are you getting terrorism?
> Its next check will be going to the Immigrant Bail Fund in Connecticut.
1
Informal_Sign
3 months ago
I do for one. There's nothing left to protest about since the officers were charged. Rioting & looting innocent businesses doesn't help anything. People need to start making ballot initiatives if they want lawmakers to make any real long-term change to actual laws.
Openly supporting thugs & criminals who only think about themselves so they can steal a flat screen under the guise racial equality is a very political stance. As soon as the Monero project starts taking sides, that's when I'll dump all my XMR for ETH or LTC & use my hashing power for a crypto that's neutral.
If those people can't afford bail, then they should have thought twice before breaking the law despite knowing the consequences. Those people are just mad they finally got caught.
1
SamsungGalaxyPlayer
XMR Contributor 3 months ago
I think you completely misunderstand what bail is.
THESE ARE NOT CONVICTED CRIMINALS. THEY HAVE NOT BEEN CONVICTED OF A CRIME.
Bail is only a system to encourage people to go to trial. Research shows this isn't needed, and that people are more likely to plead guilty to crimes they didn't commit if they can't afford bail, since they don't want to or can't stay in jail until trial. Not affording bail isn't a worthy reason to plead guilty to a crime you didn't commit.
Paying for bail isn't about keeping people who should be convicted from being so. It's about allowing people to have a fair chance at trial.
5
Stanl33coin
3 months ago
>Paying for bail isn't about keeping people who should be convicted from being so. It's about allowing people to have a fair chance at trial
Ok so picture if it was to bail out Chauvin. Yes, that's how politics works. You would divide the group.
1
Informal_Sign
3 months ago
If they were never charged with a crime, they wouldn't be in jail in the first place. Also, paying bail for criminals doesn't lessen their chance of conviction. It just lets more dangerous criminals out to loot & riot.
Now come back when you actually have the slightest clue on how the justice system in America actually works. Or anywhere else for that matter.
0
pootnodle
3 months ago
"There's nothing left to protest about since the officers were charged."
The protests have evolved further. So it is no surprise to us that you use language such as:
"Openly supporting thugs & criminals..."
We know exactly what you really mean by "thugs" and "criminals".
The criminalisation of the black population in America is a very real phenomenon. You are willfully ignorant.
2
CarlSpender
3 months ago
So you fell back on calling him a racist - this is why this doesn't work. You're willfully racist.
​
Yes, looters and rioters ARE thugs and criminals.
Yes, the protests have evolved. That's called moving the goalposts - I'm not surprised they did such things.
0
pootnodle
3 months ago
I said they're willfully ignorant.
The evolution of language used to dehumanise black people is very real. It's been happening for a while.
Systemic racism is multifaceted. None of your metaphorical goalposts in your fallacy have been moved.
0
Informal_Sign
3 months ago
So why do far leftist like you constantly move them while being racist against innocent white people?
0
Informal_Sign
3 months ago
Being open source, that would be the people currently contributing to the code base. But mainly the people that run the official website & post updates & press releases.
They can all do what they want on their own time. My point is that crypto of any kind should just be about the concept of crypto. When it comes down to it, adoption is the sole factor that determines the value of any type of currency. So it would only be detrimental to limit it's appeal.
It would be the same if Trump supporters started an XMR pool to fundraise for the election.
3
obit33
3 months ago
>Being open source, that would be the people currently contributing to the code base. But mainly the people that run the official website & post updates & press releases.
Could you show me where they endorsed bailbloc? To me it sounds like some guy made something and monero was best suited to the job thanks to its egalitarian mining algo? I mean, posting 'stuff that's being done' with monero is hardly endorsing imho...
> When it comes down to it, adoption is the sole factor that determines the value of any type of currency.
Hate to break it to you, but this **is** adoption, it's an external person/player doing stuff with monero.
> It would be the same if Trump supporters started an XMR pool to fundraise for the election.
And what exactly is wrong with this? People you disagree with can't use monero, or they can't be public about their use... Not sure what your point is really. Monero seems like the best fungible digital cash in town right now, so people are gonna use it, also people you don't like... It's adoption...
2
Informal_Sign
3 months ago
If you had actually read all my comments you'd already know Im merely stating why any crypto wouldn't want to officially take sides in political issues. You would also know we agree on all other points.
But you're also getting things misconstrued. If people didn't care about being public with their transactions, I doubt they would use a privacy focused coin like Monero. Otherwise, what's the point in focusing on privacy if nobody cared?
1
[deleted]
3 months ago
Am I the only one that chose XMR, due to it's close alignment with the cypherpunk manifesto?
​
>A **cypherpunk** is any activist[\[1\]](https://en.wikipedia.org/wiki/Cypherpunk#cite_note-1) advocating widespread use of strong [cryptography](https://en.wikipedia.org/wiki/Cryptography) and [privacy-enhancing technologies](https://en.wikipedia.org/wiki/Privacy-enhancing_technologies) as a route to social and political change.
7
Informal_Sign
3 months ago
Probably not. All that really matters is more people use it. The privacy of XMR is the biggest selling point for me. That way, no matter what side of an issue you're on, you can send money & keep your business your own. Next to that would be the fact you don't need to have a ton of money for an expensive mining rig to get a somewhat decent amount. The 3rd being the relative ease of use for miner setup, wallet & node. Only real thing that's holding XMR back is no remote node can really be trusted as long as it's possible to determine nthe senders IP. Synching a full node also takes a long time & takes up ba lot of space. So a few things need to happen before xmr really takes off.
1: A somewhat universal gui for pool mining software like xmrig.
2. Find a way to make remote nodes less worrisome. Like adding an option in wallets to only send transactions through tor, or vpn.
3: Get another good mobile wallet going.
I know there used to be one on f-droid, but it's no longer there for some reason.
2
tempMonero123
3 months ago
Is there a PR kit for newspapers? This link and a PR kit would be good to send out.
12
Trending this week..
Join Our Newsletter
Post a Job
Teams Hiring Now
-
TokenSoft is the volume leader in compliant token sales.
-
The open protocol for tokenized debt.
-
A secure online platform for buying, selling, and storing digital currencies.
-
A second layer, off-chain scaling proposal for bitcoin.
-
Ensuring the blockchain is inexpensive and accessible to everyone.
-
An open protocol for decentralized exchange on the ethereum blockchain.
- See all