Nostr

You have completely failed to understand the security model.

"Supply" is irrelevant, there's one Bitcoin and one monero - a singleton which is divided among everyone who holds it and diluted at a specified rate. Monero has tailings, infinite inflation, infinite dilution of existing holders.

Monero doesn't have a 0.3 mb block size, the block size follows an algorithm and operates on a sliding scale. There is no effective minimum or maximum monero block size.

Monero's privacy is a double edged sword. It allows exchanges to routinely rehypothecate it / print it for free.

The point of Bitcoin is **total separation of state and money**, individual sovereignty, the emancipation of humanity. Transparency is critical to this, the way to deal with psychopaths is to shine a bright light on them.

The point is to force governments into an even playing field like any other organization in the free market, it begins with the axiom of resistance - the intention of Bitcoin is not to provide a way for us to not hide from governments like rats and cockaroaches.

Privacy is not an absolute good or bad thing, it's a tradeoff. Monero level privacy is designed for a world where we have accepted that we cannot overthrow tyrannical powers.

Under a Bitcoin standard, transactions are not private because that would give corrupt tyrannical powers somewhere to hide and bankers something to rehypothecate. Psudonymous transactions are a tradeoff that under a Bitcoin standard benefits the individual more than it benefits large groups with pooled resources.

The "final boss" of a consensus layer attack is to dominate the hashpower and mine empty blocks to make the network useless. If governments feel threatened by monero, it's multiple orders of magnitude cheaper for them to kill it with this attack than it is to kill Bitcoin.

Reality meets hypothetical.

Saberhagen The Nameless 2y ago

Monero supply is scarcer than Bitcoin *right now* (and for the next few decades).

Bitcoin is diluting supply at a higher rate than Monero *right now*. Dump it years down the road if you wish - if inflation lower than gold scares you.

You're wrong. Monero's blocksize limit is 0.3 MB *right now* (you bring up another hypothetical) without significant and sustained demand long term it cannot grow beyond this. Reality.

Agree with the privacy trade off of opaque auditability.

Do NOT agree that it offers any unique rehypothecation opportunity from exchanges. Rehypothecation happens all the time even with Bitcoin. Look at this last cycle.

An exploited inflation bug would be equally catastrophic once it happened to either Bitcoin or Monero. Attackers have the advantage. There is no good solution to fix an exploited inflation bug without hurting other users on either Bitcoin or Monero.

The good samaritan will of one anon was all that stood between an Bitcoin and an exploitated supply. All the transparency in the world couldn't have stopped them if they decided otherwise: https://bitcoincore.org/en/2018/09/20/notice/

Bitcoin is easier to defend, but harder to deploy honest hashpower against a successful attack. (limit supply ASICs)

Monero is harder to defend, but easier to deploy honest hashpower against a succesful attack. (ubiquitous CPUs)

Transparency is not an absolute good or bad thing either, it's a tradeoff. Just like privacy. The state wants to wield transparency against you, to force you into a panopticon, and themself to be private and unaccountable.

The only equalizer the average person has against the state is privacy and anonymity. You cannot have freedom without privacy. You think corrupt state regimes will play by the rules like good little boys and use Bitcoin for their shady deeds so you can "shine a light on them" on them?

You are sleeping. Utopia pipe dream.

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Discussion

gsovereignty 2y ago

I've read every line in monero's codebase multiple times and worked on many parts of it at various points in it's history since the original fork from bytecoin, and I've told you why you are deeply and fundamentally wrong.

If you really believe the metrics you are touting are 1) accurate, 2) relevant, and 3) fundamental to monero's value, then fork it and shift them even further in that direction. When no one uses it, you'll be on track to discovering precisely how you're putting the cart before the 🐴.

Saberhagen The Nameless 2y ago

Good for you. You're stranger to me. Argument from authority? I am definitely hesitant to take you seriously now 😂

You addressed not a single rebuttal I brought up. You are now telling me: "bro you are wrong trust me I'm an expert"

Tell the Free Markets (AKA Darknet Markets), Bitcoin's birthplace, that no one uses Monero. The true test with REAL skin in the game.

Close your eyes and plug your ears to Bitcoin's privacy and real world fungibility problems.

Secretary Janet Yellen 2y ago

You never addressed the fact, the constantly hardforking shirtcoin has only temporary privacy while it isn't an absolute digital scarcity.

Sell your #Bitcoin already, please 🤙💜

Saberhagen The Nameless 2y ago

You never addressed the fact, the constantly hardforking shitcoin (your sentiment not mine) LN has shitty privacy right now ON TOP OF potentially risking "temporary" privacy as well (government, IRS, chainalysis can easily save that data to break in the future). Worse all around.