Agreed. Because for BTC to be taken seriously by legacy systems, it needs to be fully auditable and on chain transactions need to remain public.
Layer 2 tho… that’s where we can focus on private gateways to transact
Discussion
Why did it ever need to be taken seriously by the legacy systems?
If we were all Monero maxis, governments and financial institutions would take a much more hostile stance to it, making widespread adoption slower, and much more difficult for all.
Better to have a public ledger for most things, as it can act as a receipt for most transactions, not every transaction requires absolute privacy, but the ones that do, there are options for that.
I think you don't understand.
Not long ago every transaction was P2P and private.
It's a huge experiment we are currently in to have almost all transactions transparent and therefore ready to be censored, confiscated, extorted.
Bitcoin may fail as a store of value when taxation gets burdensome. You simply don't want government to know a single thing about your wealth not to speak of all the leaks KYC BTC are already enabling. The moment they know something about your wealth the moment they will start to plot against you to steal it from you.
Government is not based on mutual respect. It's based on coercion in every dimension.
If your money is completely anonymous, how could/would a real estate transaction occur?
How does one prove they purchased the property?
You do realize they have xmr off of the major exchanges world wide right?
Yes.
And if you need absolute privacy, like sending money to people governments say you can’t, you will need to seek out other means of shifting into Monero.
If BTC was like that, it would be treated the same way by exchanges. Which is why BTC caters to legacy systems.
Privacy will still be possible, eventually ✨
Yeah that’s why we have dex’s & atomic swaps cex’s are not needed.
Unfortunately BTC has been built around CEX that are now KYC/AML extortion traps.
Luckily Monero got delisted and for better or worse is forced to build the DEX and atomic swap ecosystem that can not be rugged.
This will have tremendous value in the future. Just like it has tremendous value that BTC has so much liquidity in 1000s of trading pairs.
A lot of that flew over my head.
How can I learn more? 🙏
The idea here is
by embracing delisting and acclimating to operating *outside* the tradfi area
see: DEXs, p2p markets, circular economies etc
monero gets a headstart on actual grassroots usage
and relatedly
develops immunity to manipulation by 3rd parties.
otoh, BTC
by embracing adoption by tradfi
actually weakens its censorship resistance
true or not...? its a matter of perspective.
but basically true I think.
I think you’re right, it’s a starting point to avoid detection/disturbance for grassroots p2p markets.
Some of them are only slowly coming back to their senses after they experienced their first BTC bubble. Let's not be too harsh.
Most novel Bitcoiners these days need more orientation, otherwise they already would have found their way to BTC and XMR more than a decade ago.
Not everyone will want/need to move to XMR. Most people don’t use VPNs and don’t want to start privacy paranoia.
Everyone comes to this when they need to, and everyone’s onboarding is vastly diff.
I’m here completely by accident… Because someone paid me in BTC 11 years ago when I was super uncertain about this space.
Didn’t know the journey it would take me on, or the sacrifices I’d have to make in life to stay on this path.
Most don’t need or want Bitcoin either…
They will all buy bitcoin at the price they deserve.