You can invest in #BTC or gold ,GOOGL, AMZN or MSFT, and that's fine, but when you need privacy money you should use #Monero.
It may not be obvious today, but when CBDCs are imposed in all countries and there is no cash, everyone will see this need.
Discussion
There are a bunch of tools on #bitcoin to get privacy, why use another coin that doesnt have all good properties of #bitcoin ?
Privacy by default? Monero
Privacy by tools? Bitcoin
Agreed. For that reason it is better for Plebs using Bitcoin and learn how we can use it with Privacy. The most plebs using Bitxoin the best.
Is it though? Do you know what chainanalysis is capable of? The IRS is going to wreck you if you use bitcoin unless you use it their way, which excludes privacy tools.
You can you use second layers to avoid censorship and chainanalysis. Bitcoin is much more than onchain, and It will be much more.
I disagree. I was told that you can send with privacy on lightning, but not receive.
You can receive cashu on ligjtning and nobody can know who you are, even the Mint House can't know.
Ok, then what? Hold all my BTC in a mint? That doesn't scale.
For sure is not the best for big amounts the money, but you can have your funds onchain and just using cashu for everyday expenses. But more options will come, for that reason is important be more people on Bitcoin than in other coins.
Have you been audited by the IRS? Do you know their tactics? I can tell you from experience that that if you use bitcoin, then you must use it their way, without privacy tools. If you intend to pay your capital gains, which is for every kyc coined tx, and you use these 'tools', then you will get rekt. Any coin going out that they can't trace is treated as a capital gain, and any coin going in is income.
It all starts with a simple letter.
If you want privacy and pay your taxes then too bad. It's privacy + tax evasion == crimal OR transparency + KYC == IRS wins
No tools can make Bitcoin private, unless it hardforks, it's a transparent public blockchain. You can get some some psuedonymity via coinjoins, but all your transactions are still 100% visible.
A good analogy for coinjoins is walking around naked, but you have a bag over your head...no one knows who you are, but you're still naked and vulnerable
Right now you have privacy options like cashu and for sure it will come more things. My point is if we have a strong money like bitcoin and still we can improve for privacy and other stuff why use another coin?
I know there are no anonymity but we have onchain pseudonymity and second layer where we can build more privacy and censorship-resistance tools.
Yes, Cashu has very strong privacy, but it is not Bitcoin. They are tokens that have no connection to Bitcoin. It can only be used with custodians and reintroduces seigniorage. Even the creator discourages people calling it a Bitcoin privacy L2
My point was you can never improve the privacy of *Bitcoin itself* without hardforks. Layers always come with different major trade-offs versus L1 privacy like sovereignty, security, complexity, and usability so will never be a full substitute for L1 privacy like Monero.