What is people’s obsession with Monero again.
Stealth addresses and ring signatures are heavy, they don’t scale on a layer 1 blockchain. It works OK today just because few people use it.
Ecash + lightning is a much better and flexible technology and will replace all Monero use cases.
Perfect privacy or a blockchain, choose one. You can’t optimise for both.
so true
"they don’t scale on a layer 1 blockchain"
Has nothing to do with it's privacy
"It works OK today just because few people use it."
Lightning doesn't scale either
"Ecash + lightning is a much better"
Ecash is agnostic to any chain and its already possible to have Monero Ecash (in fact a Bitcoiner is building it)
Upcoming FCMP++ brings L2s to Monero and L2s on an encrypted basechain is even better for privacy than one built on a transparent basechain
I am glad we agree on the first point: Monero doesn’t scale.
On the “encrypted basechain”, how do you audit it then? Back to my point, you can’t have perfect privacy and a verifiable blockchain.
So Bitcoin for a verifiable blockchain: the hardest asset on top of which ecash can be minted when perfect privacy is needed.
First point is moot because Bitcoin doesn't scale.
Lightning doesn't even scale.
You can say it's *more* scalable, but can't handle onboarding even a fraction of the world. If you think L2s will eventually make Bitcoin scale then the same applies to L2s built on Monero.
The inverse is also true. You can't have a perfectly verifiable blockchain and the best transactional privacy.
Nothing is forcing you to only use one of them for everything either so it's a false choice.
Except Ecash is custodial and each mint fractures it's anon set. Monero is non-custodial and has a unified anon set. You can also use Ecash on Monero if that's what you want. And it doesn't have the privacy leaks possible that lightning/ecash have since they're built on a transparent base.
It's kind of funny you stress verifiability but then suggest ecash for privacy which has worse verifiability than Monero
