Replying to Avatar Saberhagen The Nameless

No problem.

Monero has it's own fair criticisms and set of trade-offs, but Monero exceeds bitcoin in privacy (in both quality and simplicity) and fungibility (an ideal quality of money). With cheaper transactions (currently under one cent) all these things combined make Monero a superior L1 medium of exchange.
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Ingwie Phoenix (aka. birb) 2y ago

Sorry; I am still learning so this question might be silly.

But, with L1, I guess you mean "Layer 1". Is that one layer away from the blockchain, or is it still "on-chain"?

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Saberhagen The Nameless 2y ago

Yes, sorry, L1 = Layer 1

Bitcoin has L2s (Layer 2s) that purport to fully replace Monero. But this is simply not true. Moving into L2 comes with it's own set of trade-offs.

For example - LiquidBTC, Fedimints, and Ecash all offer privacy on a layer above bitcoin (L2+), but you give up custody to gain that privacy. A critical pillar of bitcoin is self-custody. You can keep both with Monero.

Monero is not an L2 on Bitcoin. It's a completely different crypto from Bitcoin to be clear.

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Saberhagen The Nameless 2y ago

I have a question for you. If you are not into crypto, what brought you to Nostr?

I know there is no excplicit connection between nostr and crypto, but you are a unique case because most people on Nostr are Bitcoiners. And the remaining are other crypto communities like Monero, some Ethereans, etc. Just curious