Are you for real? Joinstr isn't even live on Mainnet dude. Use Bitcoin much?
Ever?
Why would you try to make a case that a tool that isn't even live yet provides good privacy?
Also Wasabi is hot trash, Whirlpool is offline and JM coinjoins have been unwound.
So no good CJs, as I said.
Also The degens aren't coming to Bitcoin because it's the best money.
They're coming in precisely because it's an investment they can use for more Fiat.
Tbis whole pump is about Cantillionaires expecting Trump 2.0 to be good to crypto.
But sure keep kidding yourself that BlackRock thinks that Bitcoin is going to disintermediate the banks.
And if you want to get pedantic about definitions of money and currency let's just point out Bitcoin can't be Money at all, because it's not fungible.
Your maxi cope is a carefully constructed fantasy.
Wasabi is working, Joinstr is a development to fix centralized coordinator issue. More privacy tech is for sure to come, Lighting Network (Cashu) is another layer of privacy on top if needed.
Many people come to Bitcoin and stay for different reasons. NGU is just a by product of Bitcoin finding its true value as the best Store of Value in the existence. Whatever BlackRock thinks they can't fundamentally change Bitcoin and that's the whole point.
Fungibility isn't a binary, as long as it is at a certain level it is good enough. What would be your choice? Monero? Good luck using it as money or SoV (unlimited supply, centralized development), or as a currency (virtually no one else accepts it). At the very best you could buy and sell it when needed same as your counter party, but you both still need an entrance and an exit (most likely through centralized exchanges) which poses additional privacy risks.
"Wasabi is working"
https://bitcoinmagazine.com/technical/wabisabi-deanonymization-vulnerability-disclosed
this is just more "Bitcoin will get privacy on Lx" hopium that Ive been hearing for the last 8 years.
And yes
Monero aligns with the original cypherpunk ethos of Bitcoin much more than the current cucked community does.
Unlimited supply is a stupid retort since at any given time the supply is known and predictable. You shouldn't have a problem with supply inflation since you already acknowledge gold as good money.
So obviously a static supply is NOT a hard requirement for good money.
I'll allow it will never see wide adoption.
But it will never be cucked by institutions either.
Feature not a bug.
These things take time, as I mentioned there is work done on more decentralized versions of CoinJoins. And using honest coordinators still provides some adequate privacy even today.
The thing about supply predictability is that it also depends on the ability of anyone (including core devs) making big changes to the protocol. Bitcoin in that regards is still the safest cryptocurrency out there.
Also when it comes to money and SoV, the winner takes all. That's why even though gold is the second best form of money/asset after Bitcoin, it is still inferior to it (in part because of the ever increasing supply).
the point is that gold remains hard money *despite* supply inflation.
its ridiculous for any serious person to insist a supply cap is a requirement for "hard money"
a hard cap is a tradeoff.
like tail emission is a tradeoff.
neither one are "superior" they have different incentive structures.
hard cap incentivizes SoV
tail emission incentivizes MoE.
there IS an unavoidable game theory problem with only part of the network paying for security costs on Bitcoin.
and as far as "winner takes all", the world is a lot more complicated than that.
insisting you know how things will turn out is just out and out hubris.
Gold is hard money, only relatively to fiat and other IOUs and easily inflatable commodities with large supply. In relation to Bitcoin it is not as hard which is reflected in BTC/Gold exchange rates.
Tail emission (uncapped supply inflation) does not incentivize MoE. This is a fiat Keynisian notion that does not reflect the reality.
I recommend everyone reading Bitcoin Standard Chapter 10 by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak on Money and particularly the part about "Why One Money?".
yeah bro
youre whole viewpoint is just
"i read the Bitcoin Standard this one time"
Saife is just this guy, you know?
not a prophet.
It's not about Saife, it is about the logically sound point he is making. You can see through out history that the hardest asset always outperformed closest competitors, hence winner takes all.
uh
bro
we use US dollars right now.
that statement is just obviously false.
maybe rethink the complexity of modern economics?
So the hardest asset does NOT always outperform all competitors.
its a simplistic way of looking at the world that appeals to Bitcoin maxis confirmation bias.
What is your case for it? Until Bitcoin came around gold as the hardest assets available outperformed other alternatives.
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Also
Making Spenders the only ones who pay for network security fees obviously incentivizes hodling
The entire Community goes on and on about the superiority of NOT using Bitcoin
and you're going to tell me that MoE is not being discouraged by a hard cap?
get real
MoE is definitely not discouraged, if anyone actually needs to make a transaction they are welcome to do so while paying a free market determined fee for it. If anything it encourages lower time preference and more sound financial habits.
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Details or GTFO
who are these honest coordinators who are providing adequate privacy and how do you confirm them?
I'll wait.
kruw.io is the main one, has a lot of volume due to its reputation. I'm not saying that centralized coordinators is a perfect scenario, but even still good luck tracing coins that underwent thorough mixing.
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Was just about to post this new Wasabai vulnerability you beat me to it
The state of Bitcoins privacy...
homeboy is obviously not someone who requires strong privacy 🙄
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Very well written.
It just makes sense to adopt monero. Privacy, simplicity and realistic mining that anyone with a normal computer can achieve.
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and as far as Blackrock goes I suggest reviewing this video by Andreas
https://www.youtube.com/watch?v=KSv0J4bfBCc
For sure. Custodial Bitcoin is not real Bitcoin 🎯 BlackRock and anyone else for that matter are welcome to try to fundamentally change Bitcoin. In my opinion it is already too late for them to succeed.
which isn't the point he makes at all dude.
except maybe in passing.
watch the video.
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"Custodial Bitcoin is not real Bitcoin"
Yet you suggest Cashu as a real alternative for using Bitcoin privately...
Just wait until they learn that lightning network is also not bitcoin, and just another coin together with some other technology that is pegged to something else.
Those guys are religious blockheads. I'm wondering how many of those work for federal agencies to spread such mass ignorance to the population.
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I suggest to use it for specific use cases when needed, not to store a large portion of your wealth in it and replace your main net Bitcoin holdings.
This statement holds so much cognitive dissonance. You also use "shitcoins" and can't see it.
While Lightning and Cashu are objectively inferior to main net Bitcoin, at the very least they are natively convertible to BTC and track it’s performance. Hence they are still better than any other completely separate shitcoin
Cashu is a shitcoin by another name. It's literally an IOU that can rug you at any moment, infinitely and arbitrarily printable by the mint, and permissioned to redeem back your Bitcoin. It's a useful shitcoin. But you're still using a shitcoin.
If you can understand that then you can understand why other users find other shitcoins useful for other things.
Unless they claim those shitcoins being the superior form of money, I don't really care.
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