Replying to Avatar MAHDOOD

This issue I brought up also applies to monero. You can hide yourself in the bitcoin network but that’s not the issue. The issue is that people don’t want to take that risk. I can buy your services using monero but if it’s illegal with a harsh punishment, I’m taking on a risk even if you think it’s private (it’s really not). How many freedom loving people will be there to sell you steak and plumbing services for monero when the penalty for using it is 10 years in prison? And what would he do with the monero after that? Monero isn’t scarce enough for people to demand it. They’d continue using cash before switching to monero.
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loveIsSimple 2y ago

oh... so once cbdc are up & cash is ended, all "illegal" (from ptb pov) stuff will disappear instantly from the world because people will be too scared to use a private currency & 100% of countries will obey to jail private currency users of course ? Next step : how to find them...

isn't scarce ? 18 millions of coins is not abundance for 10millions tx / year mostly from DW !

Can you expand on the "it's really not" with a concrete coder approach ? It seems you have discovered what hundreds of devs haven't (the key to track coins on monero blockchain from wallet to wallet without view keys of all the wallets) so it's your duty to share thx.

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MAHDOOD 2y ago

Never said illegal stuff will disappear don't strawman me. I stated a historical fact that the government ban on alcohol deterred about half the population from using alcohol. It would be safe to assume that the government banning bitcoin or any shitcoin would deter people from using it. How many? I don't know.

Regarding the shitcoin monero:

https://crypto.news/monero-privacy-bug-decreased-anonymity-for-3-years/

https://cointelegraph.com/news/newly-found-monero-bug-may-impact-transaction-privacy-developers-warn

https://decrypt.co/76938/monero-developers-disclose-significant-bug-privacy-algorithm

The major "benefit" that people shill monero for is its privacy which clearly is flawed. The reason why bitcoin is simply better is because the network is more secure and the supply is actually scarce. Monero has no fixed supply and it's difficult to run your own node. If monero ever got big enough, it would be easy for government to just take control of it since its blockchain would grow so large ordinary people can't afford to run a node.

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Saberhagen The Nameless 2y ago

Yea and how well did alcohol prohibition go? That shit just gets pushed underground and on black markets. That demand doesn't disappear just because people in suits wrote words on paper.

Dude, respectfully, you don't understand how Monero works. Any bug on the decoy selection algorithm for ring signatures has no effect on hidden amounts and addresses. And it is still probabilistic.

Essentially you are saying because Monero doesn't have perfect privacy, it is broken and we should just use a completely public chain like Bitcoin. The logic doesn't follow.

✅ hidden > ❔ visible, but probabilistic > ❌visible, deterministic

Monero default txns with a bug:

✅amounts

✅addresses

❔inputs/outputs

Bitcoin default txns WITHOUT a bug:

❌amounts

❌addresses

❌input/outputs

Bitcoin coinjoin txns WITHOUT a bug:

❔amounts

❔addresses

❔input/outputs

Even when Monero had that bug (now patched) Monero still offered massively more privacy and anonymity over Bitcoin