isnt almost any update on monero a hardfork?
does monero have a scaling solution?
when you buy your monero in a kyc setup or hold it on an exchange then its not useful.
If you want more privacy on bitcoin just use liquid, lightning network, coinjoins or chaumian eCash
@tuvok
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@hopfield@nostrplebs.com
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to answer your questions:
-hard fork: not every upgrade is a hardfork. the community decides about it. it was decided by the monero community to implement a hardfork on august 13th 2022 in order to make mining of monero with asics inefficient in order to avoid what happened to bitcoin- centralization of mining
-transactions: monero can do confirmed 7000tps. this is the real transaction amount of the visa network. the number of 20000tps is propaganda. at no point does visa do 20000 transactions. when monero will replace visa and mastercard, it can even be made more efficient by consensus building a new hardfork.
-kyc: even if you bought your monero from binance (not recommended) or kraken (recommended) and you withdraw the coins immediately after buying, all they will know is how many monero you own. they cannot touch them, they cannot block them, they cannot tell you what to do with your coins. monero is fully fungible. it is the same as receiving cash from your bank. monero from kyc exchange is fully useful. bitcoin from kyc is not.
you can also buy monero with bitcoin from localmonero, habanero(soon), from cakewallet (excellent, self custody) or from tradeogre (recommended, no kyc)
-bitcoin and privacy: there are the tools available you mentioned in order to make bitcoin somewhat private. there is no tool to make bitcoin 100% private. all tools mentioned are very expensive and too complicated for the average user.
lightning network: the lightning network is very good. fast, scales... it has three major flaws: centralization, security and privacy.
centralization: it is an additional layer on the bitcoin network. it is NOT bitcoin. most people think that it is but it is NOT. i believe that this is done on purpose. lightning is pushed by corporations and billionaires. as you know a lightning node needs to provide liquidity. it is a complicated system, frustrating for many and hardly profitable for anyone but for the billionaires and corporations who provide this liquidity increasing the cost for every transaction.
security: there are at least 5 known attacks possible. none of those attacks happened (yet). the double spending problem which you find in satoshi's white paper, one of the major problems of cryptography, is not solved with lightning.
lightning itself does not recommend to use it for larger transactions
privacy: there is no privacy with lightning. today's computers can trace your lightning transactions back yo you. it takes a much higher effort than with bitcoin but it is possible. you can make it kind of private using vpns, multiple nodes etc. but who wants to take those efforts when privacy is not guaranteed with even those measures?
what was not even mentioned, is the monero community. you will not find any corporations or greedy billionaires. the monero community also values freedom of speech. see for yourself:
thanks that you put this together, but i am a bitcoin maxi. i am just saying that our time is more worth if we put it in something else. argueing over this monero topic doesnt bring all of us forward.
Shitcoins are just a distraction…but a distraction one is free to do.
what is shitcoins? i do not know that word. do you mean bitcoin which lost more than 80% of purchasing power in two years measured in real fiat terms?
bitcoin will not save your life in pakistan. the criminal government will be able to track you and arrest you. if you use bitcoin, they know who you are and what you do with your money.
I knew that would trigger someone lol 😂
If it helps, you don’t need to convince me or anyone of what’s in your bags. You’re free to hold whatever coin you want. No malice my friend. It’s just an opinion I hold.
all leading economists of all time
friedrich august hayek
milton friedman
recommend monero. even corporations do. the ceo of microstrategy.
did you watch the videos?
if you are openminded, you do.
if not then not
ok sorry. saying saylor bitcoin max max maxi is recommending monero is just bullshit i dont need to see this video because i watched all others.
Have you seen the deep fake video where Saylor says he regrets his Bitcoin purchase and wishes he bought Ethereum? That shit is hilarious! 🤣
you judge something you do not even know. watch it first, then write about it. otherwise it is pointless
Even if he did recommend monera, it means nothing to me. My view of ₿itcoin is because of what ₿itcoin IS and what it does for me and my values, and not because of what others tell me it is. I often find it sad when people need the ‘approval’ of others to justify their own bags.
Like I said, you are free to hold what you like, you don’t need to ‘convince’ anyone else
You make great points, especially regarding #monero #xmr being able to do 7000tps.
Also, LN is fast, but not always worth the trade offs. In most cases, I can wait 2 minutes for a monero confirmation.
Cheers!
isnt almost any update on monero a hardfork?
>Yes. Strong aversion to touching the monetary policy in the community though. Updates are mostly efficiency and privacy enhancing.
does monero have a scaling solution?
>Confirmations are only really a problem for in-person purchases or time-critical digital purchases. Doesn't make much difference for online purchases if you have to wait for a physical item to ship.
Two options currently:
(1) Wait 2 minutes, (2) Instant transactions already available: Some merchants already accept 0 conf in both bitcoin and monero. Just price in the risk.
...or wait for Monero second-layer solutions: https://www.getmonero.org/resources/roadmap/
when you buy your monero in a kyc setup or hold it on an exchange then its not useful.
>Agree. Not unique to Monero though. And if you withdraw the trail ends. With bitcoin you have to actively attain you privacy after withdrawing.
If you want more privacy on bitcoin just use liquid, lightning network, coinjoins or chaumian eCash
>Liquid and eCash: Custodial,
>Lightning: Centralizing and not final settlement (and mostly used custodially right now),
>Coinjoin: Can be good privacy if you know what you're doing, but even if done correctly it is still inferior to Monero in ease, quality, and comprehensiveness. Doesn't hide receiver or amounts, and ip isn't obfuscated.
you putting the scaling solution of monero on a roadmap, so i can put the privacy solution of bitcoin on a road map too.
i value scalability more then having perfect privacy. with all the privacy solutions for bitcoin i mentioned above, i am really fine.
or i buy monero when i really need it, but i dont buy it for my savings account, which i dont want to touch for 10 years or more.
That is fair, I'm just answering your question specifically about scaling solutions that you asked. I think Fedi has the most potential in solving privacy issues and minimizing custodial trust, but it is still custodial.
Lightning is nothing like what was promised so far. Everyone uses it like a Paypal 2.0 which makes me wonder what the point ever was. I prefer being on-chain for bitcoin atm and coinjoining.
The "save in bitcoin-only" model makes sense. It has done well long-term so far.
The funny thing is the easiest way to get started in obtaining privacy on bitcoin is to purchase it with monero.
