While privacy coins are important I have a hard time believing they will ever be more popular than say VPNs are in China - used by a small minority. Governments will make them illegal so only hard core will use them. Therefore privacy coins need to be secure without large scale adoption. #xmr #zcash
Discussion
The majority will do whatever the government tells them to do to get their comforts back, only those who are prepared will be able to weather the surveillance state. I suspect that the vast majority of people, including plebs on here, will offer very little resistance before deciding to take it in the ass. The fact that kyc bitcoin is talked about as a valid option on here has brought me to this conclusion.
Seems like we agree so do you have a preferred privacy coin? Or do you think small denomination gold and ammo is the way to go?
Only until bitcoin can fix its privacy problem. Gold doesnt make sense to me as no commercial cashier is going to know what to do with it, maybe if you are dealing directly with the store owner, but not otherwise. Something that you can convert to digital fiat is the best and most practical option. I prefer monero for simplicity over lightning or liquid which need extra effort and know how to operate privately.
Funny we are talking about this now. I just learned about Goldbacks on Twitter. https://x.com/jimchoumobile/status/1820255679724048411?s=46&t=QyIsKeZkGWc6spSSxm2iKw which is as easy to understand if not easier than crypto with a little training. But yes, I like digital for the convenience and agree that L2s are a usability nightmare.
I don't understand why it matters. The question of scale is not important to those that choose to use it anyway.
For the same reasons someone might use a hw wallet as savings and a mobile wallet as their daily driver. Same really for fungibile coins. Just because the local car dealership won't touch it over the counter, doesn't mean you can't pay your rent with it.
Well scale is important for PoS coins because you need LOTS of miners/hash rate to avoid a 51% attack by a private or government entity.
If there is not a lot of interest in the coin from users and miners the network is vulnerable.
Their popularity is a non sequitur
Doesn't have anything to do with the privacy they provide. Amounts and addresses are hidden no matter how many users there are.
If your choices are confined by what governments will or will not allow then that is already the status quo. What are you going to do when they say you cant use bitcoin or cant use bitcoin without their heavy restrictions?