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To all pro Monero

You must differentiate between a good store of value and a simple privacy tool.

An asset in which you can't verify its supply is not good for us to be the world's reserve currency and fight fiat, don't put Monero as an alternative to Bitcoin again if you don't understand this.

It's not me saying it, it's the Monero developers saying it.

“The third class is implementation flaws leading to undetectable inflation. Such flaws could arise in many ways, but are limited to opaque assets (like Monero or shielded Zcash) where it is not possible to simply count the currently-available supply. “

https://web.getmonero.org/2020/01/17/auditability.html

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Discussion

463a3e1b... 2y ago

IDGAF about fiat currency I just don't want to get thrown in the gulag because I bought a sandwich for a trucker.

hopfield 2y ago

Agreed. #monero #xmr is private digital cash and should not be used by the state as a reserve currency. Private individuals can use it in lieu of (or in spite of) state-sponsored currencies.

The use case for #bitcoin is different than Monero’s and therefore appeals to a different market. I see bitcoin as digital property with a fully transparent ledger, which is ideal for governments, public corporations, NGOs and other public entities. Of course, private individuals can use it, too.

It’s possible for both bitcoin and monero to have inflation bugs, but monero’s supply is, in fact, auditable:

https://sethforprivacy.com/posts/dispelling-monero-fud/#you-cant-audit-the-monero-supply

BL: Bitcoin and monero don’t need to compete with each other. They can co-exist in an open and free market where people are free to make choices about the tools that work best for them.

Cyph3rp9nk 2y ago

Bitcoin is not for the state, Bitcoin is against the interests of the state. Bitcoin is also private with the use of Lightning, I do not know why you make these movies to defend the use of Monero.

Use MPP and AMP in Lightning, along with private channels, I challenge you to perform euristics.

On the other hand Sethforprivacy is not unbiased, he is a fan of Monero, I am not a fan of anything, or anyone, or Bitcoin, I just use what works, and the Monero sumistro is not auditable, I challenge you with your method to tell me the amount of circulating coins and match when it is re-run by different user.

hopfield 2y ago

Indeed, Seth is a fan of monero (although I think he currently works for a Bitcoin outfit…someone fact check me). You are a fan of bitcoin. I’m a fan of both and I attempt to understand the strengths and weaknesses of both. I have no issue with “bias”. We all have preferences.

I like LN and encouraged by the development of increased privacy features. However, monero has default privacy on L1, and requires very little technical expertise to achieve that privacy. That’s very appealing, along with monero’s other attributes: PoW, CPU-mining, low transaction fees, etc.

HomelessG 2y ago

Idk. Seth’s sudden change that bitcoin privacy is good enough has me slightly concerned that he’s been bought out by somebody in the bitcoin space. Nothing has changed since Seth was very adamant of bitcoins privacy shortcomings. Why the disappearance from the spotlight for a while and then return being super pro bitcoin. Odd.

hopfield 2y ago

His bird app profile says he’s head of content for Foundation Devices. They may have asked him to tone down opinions regarding Monero. Or perhaps he’s just too busy.

The Monerotopia 2023 website lists him as a speaker. Dunno.

https://monerotopia.com/

nobody 2y ago

Put simply you never know when there is a liquidity problem ?