My current favorite story for the eventual Michael Saylor humbling.
He finally gets some coins into cold storage and actually loses the keys in a boating accident.
Discussion
story coins the the and into actually favorite My current loses Michael storage Saylor boating gets in a some eventual cold
He accident.
keys humbling. finally for
Boating accidents only make sense with Monero.
As soon as someone spends transparent coins like Bitcoin everybody will know that it was not a boating accident.
Or you need to find a safe way to transfer seeds offchain which usually brakes all security assumptions.
I have bitcoin coins. What does it mean to spend? If I zap you, I am spending, right? What is made clear to you about me since we are using "transparent" coins?
Nothing is transparent. No one knows who is in the habit of coinjoining their coins, so if a utxo moves after a boating accident, that doesn't mean the boating accident didn't happen. Also no one knows if someone else found the keys after the accident. Also you're perfectly capable of swapping keys with someone physically to anonymize your utxos without an on chain transaction. Absolutely nothing about this is transparent, and this monero guy is mistaken.
I think when bitcoin is used the way intended, it is quite private.
it not and Comtes point is stupid.
plausible deniability isn't the same thing as privacy.
And I thought the USP of Bitcoin over Monero is its auditability thanks to its full transparency.
Bitcoiners always think they can have their cake and eat it, too. Tradeoffs my ass.
Bro how do you "find" a key if its destroyed?
He didn't say destroyed. But I could lose my keys and someone else could find them.
How???
There's tons of ways. One example,, I make a wallet, keep my seed phrase as a picture in cloud storage, lose access, someone else who has access takes the phrase, claims the funds.
weren't you talking about cold storage wallets?
the only one who sees your zaps is Coinos. probably.
And what do they know about me? I can take those sats and move them to cold storage, right?
Boating accidents are a meme created by Monero bros almost a decade ago. This meme caught on and because its idea is so powerful Bitcoiners repurposed it for their own propaganda without realising that one can not move Bitcoin anymore after a boating accident without criminalising oneself.
If you have no KYC Bitcoin you don't need to stage a boating accident. If you have KYC Bitcoin a boating accident is basically a lifteime freeze of your Bitcoin, meaning your potential purchasing power is now zero despite you still holding the keys.
Monero doesn't give a fuck about KYC or not. It's above the law. Fake boating accidents only make sense when you don't lose the purchasing power.
Well they know your entire transaction history with them
Beyond that it depends on how you funded your wallet and what you do after you close the channel with them
But the point is that there's plenty of data to audit
I.e not private
