this post was submitted on 18 Aug 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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Monero, XMR, crypto, cryptocurrency

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The first principle is that you must not fool yourself — and you are the easiest person to fool.

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[–] bobr@lemmy.libertarianfellowship.org 4 points 1 month ago (1 children)

If we look at the funded CCS proposals https://ccs.getmonero.org/work-in-progress/, a lot of the recently funded proposals have very few donors, while the amount of money donated is quite big, which means that they are extremely generously funded by a very small group of people (sometimes just 1 person!).

  1. Do we know who is funding the proposals? (I know we cannot answer this by looking at the blockchain due to the privacy features of XMR, but maybe there are some accepted theories in the community where funds are coming from?).
  2. What happens if those few people stop their donations?
[–] g2devi@feddit.nl 2 points 1 month ago

Fortunately, you're reading the numbers wrong. Yes, some projects have 1-3 projects. Those projects tend to be side projects (e.g. Revuo, web site maintenance, etc) and are likely founded mostly from wallet providers and Monero service providers since it helps spread information that helps the ecosystem. I know Cakewallet has funded a few of these. The really important projects have 5-70 contributors. If donations stop, then some people would keep working on it because Monero is important, but they wouldn't be able to spend very much time on it so progress would be incredibly slow.