I don't know how many times this has to be said, but Monero's privacy is better than Bitcoin. With Bitcoin silent payments, you are just obscuring a single step in a chain of transactions. Unless everybody uses silent payments, everyone can see where the money came from and where it went. Monero makes it impossible to see who received the currency and it's futile to try to determine who sent it based on the amount of possibilities. Unless privacy is on by default it's not going to work. See: Zcash
Discussion
Correction: silent payments do obscure destinations and senders well, but if you don’t control at least one of the transactions inputs your privacy can be compromised by the sender. Silent payments still only obscure one hop in a transaction
> Monero's privacy is better than Bitcoin
Wishful thinking won't mask your transactions, friend. Someone convinced you that publishing all of your transactions on a permanent blockchain is good for your privacy when it obviously isn't. Bitcoin leapfrogged way past monero six years ago when we created a payment channel network and stopped broadcasting all of our activity for the whole world to see. Catch up. Use lightning. Stop listing the sender, the recipient, and partial amount info in every transaction. Drop monero.
Have you taken anything from this entire argument? Please just read the Monero docs or look at a block explorer if you’re still confused
The block explorers are the whole problem bro. That's why we got rid of them. Learn the lesson. If you've got a block explorer, you've got a very serious privacy problem.
Every blockchain based cryptocurrency has a block explorer my guy. It’s just that with Monero you can’t see who’s sending money to who and how much
True, but the lightning network does not have a block explorer, so I recommend using that instead
Oh yeah and with monero, every transaction publishes a list including the sender, the recipient, and partial amount info (specifically, the fee paid). It's on every monero block explorer, go take a look.
Alright, since you don’t seem to be learning by people telling you the same fact and correcting you over and over, how about you learn by doing.
I challenge you to trace the transactions associated with the #monero donation address in my bio. Good luck, you are going to need it. You’ll also need a quantum computer that doesn’t exist yet.
My apologies, coracle decided to crap out
Monero's blocks store public historical data that proves random strangers around the world transacted money following the rules and no one trusts each other but still can't cheat on each other. This sets a history of all-look-equal transactions that make up the current state of balances and histories that only key holders know the details, like what the hidden amounts are. A LN payment on the other hand is routed A -> B -> C with all amounts being visible from sender until it reaches the destination, now which privacy is better 1) all-look-equal txs with hidden amounts, or 2) plain text, amount visible, routed payments where A -> B -> C, but B can be a FED making public profiles?
Routing nodes do not know what amount is being transmitted. They only know the amount *they've* been asked to forward, they have no idea if that's the full amount.
I don't know what persuaded monero guys that publishing their transactions is good for their privacy but it's an obvious problem that bitcoin fixes.
Monero guys believe in trusting no one, so with XMR I can only send a tx that 1) no one can stop from being mined 2) no one else knows the details. On LN nothing stops colluding routing nodes from creating a graph/profile of LN users and their activities and knowing the full amount transmitted, and nothing stops routing LN nodes from simply censoring certain senders/receivers on their route.
Not good, we like privacy and censorship resistance above all, even if txs are "published", or permanent
Bitcoin got rid of block explorers? Interesting.
> Bitcoin got rid of block explorers?
Yes, we use lightning now. You should try it! Freedom from block explorers, dude! It's an amazing thing
I’m running a Lightning Node for a long time, dude. And I can guarantee you that LN won’t work without the underlying blockchain, and with the bc, there comes the bc explorer.