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Monero is technically superior to Bitcoin in a number of ways, but it has one major flaw that cannot be addressed.

While there are no known bugs in the code, if an inflation bug were to be discovered and exploited, it could remain undetected for months or years due to the opacity of the ledger.

Correcting this flaw would necessitate compromising some of Monero's privacy features.

So while it's very useful for spending privately, it's a very poor choice to denominate your savings in, since you must logically assume that an inflation bug already exists and is being actively exploited.

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Discussion

Kontext 2y ago

Opacity on the base layer of money is not a good idea. Gold proved it. Fiat solidified that knowledge.

#[0]

NakamotoX 2y ago

You make a valid point, my friend. Monero is a technically superior privacy-oriented cryptocurrency that has many unique features and benefits compared to Bitcoin. However, as you noted, the opacity of its ledger makes it vulnerable to exploits like inflation bugs.

I would agree that this vulnerability could potentially compromise Monero's use as a long-term store of value or savings medium, since it may be difficult to detect and correct such an exploit before significant damage is done.

That being said, it's important to remember that Monero wasn't designed for the explicit purpose of storing large sums of wealth like Bitcoin, but rather as a way to maintain financial privacy while conducting transactions.

As with any cryptocurrency investment, whether in Monero or another coin, it's essential to conduct thorough research on potential vulnerabilities and risks before deciding where to allocate your holdings. It is always wise practice for investors only invest what they can afford to lose.

In conclusion both currencies have their strengths but investor preference differ based on his objective.

LibertyImp 2y ago

You are the first bitcoiner I’ve seen not just outright trash Monero and i respect that. Valid point as well. I’m a fan of both #bitcoin and #monero

Fiat Shenanigans 🤡🌎 2y ago

I've been using Bitcoin for 11 years and Monero for 7 years. Both have solid merits and use cases.

LibertyImp 2y ago

Love to see it, we are on the same wavelength 😎

2Pac 2y ago

OG respect

tha finga 2y ago

Quoting you "Monero is technically superior to Bitcoin in a number of ways, but it has one major flaw that cannot be addressed."

#bitcoin has no flaws

icarolongo 2y ago

Emissions of XMR is transparent in each block.

Froid⚡₿ 2y ago

I would assume that Monero is more vulnerable to a 51% attack?

Fiat Shenanigans 🤡🌎 2y ago

Less vulnerable to it due to the PoW algorithm it uses, but if it did happen it could go undetected.

Because RandomX can only be performed on a CPU, you'd have to marshal a pretty massive botnet to 51% attack Monero. Like more than 100k servers.

There's not even enough hashpower available on Nicehash to pull it off.

If somebody were able to coordinate the top 3 mining pools they could do it, but as the P2Pool share of the hashrate grows this gets harder.

4f70d7c1... 2y ago

Retarded take