Nostr Web Client

fixed supply rate

auditability

unbounded participation rates in the securing of the ledger

monero fails on two points because of its obfuscation, and the anti-asic thing isn't really helpful, and really just amounts to fluffy trying to stay relevant

ede3d957... 1y ago

Sure but, fixed supply comes at a future risk regarding security budget. It's not a problem for the next decade.

When was the last time you manually audited BTC UTXOs? This is something my BTC and XMR nodes do for me. In both cases I need to trust the math. Just that the math is slightly more complex for XMR over BTC. But you are right an exploit on Monero would likely be more difficult to fix in retrospect.

So yes, it's a trade off. The thing is with only 1% allocated to Monero you have a perfect hedge for Bitcoin and ready to spend currency. Assuming you are not 100% BTC and you holding at least a couple of percent in fiat shitcoins, what makes you believe it's a better hedge/higher us ability than BTC?

I mean I would understand Bitcoin maximalism. If security and low fees and a fixed supply and adoption and a fixed cap would work out at the same time.

But we have huge trade offs between gold/silver, fiat/cash, Monero and Bitcoin. So I use all of those as I see fit being mainly exposed to XMR, with BTC, cash and gold as hedges for certain downsides.

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ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

i last manually audited the bitcoin UTXO set about 10 minutes ago, automatically, because this is how bitcoin nodes work

i have all the blocks, i could run a replay right now and be certain that there is no inflation bugs

i'm not gonna worry too much about doing the full audit on a regular basis because every block it audits the new block to make sure it doesn't cause a conflict with the entire 15 year history, which is stored in a database on my node's SSD

you don't understand bitcoin, that's why you don't get it

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

also "security budget" is absurd when you count the number of hashes being computed on the miner network is a monotonic, almost consistently growing number, the cost of the security goes down, while the capacity goes up, and the momentum ensures that unless half the internet goes offline and stops using bitcoin, it will never ever be short of security

ede3d957... 1y ago

And you think Monero nodes work differently?

At security budget: I am talking about BTC reliance on a fee market 20 years down the road. We can assume that chances are >99% that Monero's incentives still work by then. There's less certainty regarding BTC.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

yes, they don't actually count the UTXOs they just do some other authenticity thing that is spurious and already twice, unless i'm mistaken, has had an inflation bug

you don't care about inflation bug? fine

i am not buying gold bars because there is so much tungsten with gold plate