Cash is not readily monitored. Working on privacy in/on Bitcoin is paramount - but in my mind separate from legal tender
Discussion
If people were to start using Bitcoin to make purchases, then they would be completely under surveillance at all times from whatever nitwit on social media wanted to find out their financial information. And that's not a great world to live in. Privacy in or on Bitcoin is extremely unlikely to happen and therefore it has failed.
Lightening ? eCash ?
Lightning is quite difficult to use in a non-custodial manner. Transactions can be forced back on chain at any time and e-cash is totally custodial from what I understand. Therefore, they are not good options.
That was quite an interesting read, and it seems like it is extremely easy to accidentally fuck up your privacy with lightning. If you didn't fuck it up at layer one to begin with, by ending up with KYC, Sats. When you open the channel to begin with.
In Monero the sender is protected with the ring signatures and soon to be full-chain membership proofs and the receiver does not have to be online to receive the payment because they can just scan the blockchain when they come online for anything that they can control and they do not need a third party like an LSP that could easily doxx them. Since there is no routing involved, you do not have to worry about this liquidity probing like they talked about.
As typical, the answers aren’t so straightforward. Appreciate your comments. 🤝