In this article they go in depth on all of the current shortcomings of Lighting network. For now at the very least, monero is necessary to anonymize on chain bitcoin before getting on lightning layer 2 or to swap monero for lightning network bitcoin somewhere kyc free.
https://voltage.cloud/blog/lightning-network-faq/lightning-network-privacy-explainer/
Very aware of lightnings current limitations. I never said "Lightning", I said L2 (should have said L2+).
Monero made conscious decisions to favor privacy over decentralization. I think making those tradeoffs on L1 is foolish. Therefore, it's a shitcoin.
No compromise decentralization is the only way to build a viable L1.
Can you point me out the decisions that Monero has made to favor privacy over decentralization? I was convinced that RandomX to avoid ASICs taking most of hash power was actually more decentralised then Bitcoin POW. I thought it was a good solution to avoid having most hash power concentrated in the hands of wealthy mining company owners as is happening with Bitcoin.
Digital constraints on hashpower are fallible. Physical constraints are superior in the long term. Energy is the only truly decentralized/permissionless constraint which can be anchored to.
Have you heard of stratumV2?
Both FOSS.
Both same ballpark of nodes.
Only one of these has decentralized mining that isn't concentrated on large law-abiding corporate mining farms though.
FOSS alone doesn't make it hard money. Most shitcoins are FOSS.
How much of your ASIC resistant mining happens on a CSP?
Have you heard of stratum V2?
I'm responding to your "privacy over decentralization" comment. I didn't say FOSS alone does that and you didn't say anything about "hard money".
Can someone force me to use their crypto against my will? Can I be stopped from swapping or selling it? Can someone stop others from forking it? Am I forced to use only one crypto for every use case possible? Sounds like a free market and that's all I care about. Remember, it was Bitcoin that had a contentious userbase split with the blocksize wars even with no hardforks and *still* had to compromise with the half measure Segwit.
Yea, I've heard talk about stratum v2 for quite awhile now still vaporware and isn't a completet solution anyway. The average person still can't afford to participate in mining to keep the network decentralized.
It seems Bitcoin and Monero's approaches have the same potential problem on the opposite sides of the coin.
The tragedy of ASICs is they will continue to consolidate on farms and grow more centralized and susceptible to state attack. It's conveniently wrapping up Bitcoin's censorship resistance and handing it over to governments over time.
