Replying to Jim C

While privacy coins are important I have a hard time believing they will ever be more popular than say VPNs are in China - used by a small minority. Governments will make them illegal so only hard core will use them. Therefore privacy coins need to be secure without large scale adoption. #xmr #zcash
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Carlos 1y ago

I don't understand why it matters. The question of scale is not important to those that choose to use it anyway.

For the same reasons someone might use a hw wallet as savings and a mobile wallet as their daily driver. Same really for fungibile coins. Just because the local car dealership won't touch it over the counter, doesn't mean you can't pay your rent with it.

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Discussion

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Jim C 1y ago

Well scale is important for PoS coins because you need LOTS of miners/hash rate to avoid a 51% attack by a private or government entity.

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Jim C 1y ago

If there is not a lot of interest in the coin from users and miners the network is vulnerable.

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Jim C 1y ago

Users being what attracts miners.

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Carlos 1y ago

This is no longer true, hasn't been true for a long time. DAGs like Avalanche, Ghost and LLMQs can safely lock transactions within seconds, preventing double spends.

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Jim C 1y ago

That’s good to know. Thanks! Does Monero do this?