It's hard to prove you have apart of the fixed 21 million btc if you can't trace all the btc thru transactions to prove they are all real.
Montero prioritizes privacy over supply auditability
Discussion
And thus it cannot be a store of value.
And I'd guess that it's difficult if not impossible to build a state channel overlay like LN, which then becomes more private than Monero with enough hidden nodes.
Encryption < not publishing private data.
A published ciphertext can be analysed. Unpublished data does not exist outside where it was exchanged.
This is such a hard point to drive thru to Bitcoiners. I feel it is more ideological than anything...
YOU
DONT
HAVE
TO
SAVE
WITH
MONERO
Use it!
*Today* and for the near forseeable future, Monero is much more private than LN. What good will future privacy do if you can be revealed if you use LN today?
In the future, LN is more private, since it is not recorded on a blockchain as you say *IF* (Big IF!) no one is currently saving that data. We know chain analysis is very likely saving that data! And we have no clue if central hubs are saving most network data!
Let us look at Darknet Markets. Increasingly using Monero. Soon to overtake Bitcoin. True skin in the game, their literal lives are on the line, and ultimate market test.
You can trace all bitcoin transactions. You just can't always say who was who. The UTXO set adds to less than 21 million, and always will.