LN does not fix L1 privacy, where did you heard that?
L1 is transparent by design, it's the only way to truly be sure only 21M bitcoins will ever exist.
Discussion
Totally get what you’re saying! L1 has its own strength in transparency. But I think it's cool to explore new ways to boost privacy too. Both can coexist! 😊 #Bitcoin
okaaay
"LN would mitigate the complete lack of L1 privacy"
satisfied?
also
the argument that complete transparency is a requirement only means
integrity can't exist without total surveillance.
not a good hill to die on.
Bitcoin L1 gives integrity; L2 and L3 gives privacy and scalability.
Monero tries to do everything on the base layer and in the process—has no integrity(because you can't be sure how many coins truly exist), has worse scalability and unlimited total supply. It's just like fiat but on digital rails.
yawn
it's obviously NOT just like fiat
because it has predetermined stable monetary policy
and we know exactly how many coins exist.
but you're improving 🔥
Nah, you don't.
You guys are hardforking like every year—the risk of undetected inflation bugs, major exploits and even changes to its monetary policy down the line is simply too high.
Monero is not something you can hodl and forget for 10 years, it's not transparent and it changes too much, too quickly, too agressively. The risks are to high. It's not 'good money', it's fiat on digital rails but with private transactions.
theres certainly a reasonable argument to be made for premature ossification,
too bad you're not making it.
there is no credible concern about a change in monetary policy,
therefore its not "fiat on digital rails"
if you want to argue "hardforks bad" and a protocol has to be carved in stone after some arbitrary length of time,
well these are opinions people can have.
theyre just ignorant opinions.
Bitcoin is also software, and software needs updates.
I'll remind you Bitcoin needs a hard fork still as well.
and it's generally acknowledged amongst devs that at some point the blocksize needs another increase (in some form anyway).
its not as if the only risks are from changes,
there are also risks that come from just doing nothing.
