Hopefully I can provide a kind and helpful answer here. While Monero is attractive because of its privacy benefits, similar benefits can be achieved through Bitcoin.
All cryptocurrencies, in my opinion, are shitcoins except for Bitcoin because they are not secured by the vast amount of energy that Bitcoin is secured by.
The PoW energy that supports Bitcoin is what makes it truly something special.
Are you really implying xmr isnt PoW?
It’s not just about whether or not it’s PoW or not. Many shitcoins are PoW. Dogecoin and BTC Cash are PoW.
PoW is progressively more secure the more mining that happens. This is one of the equations in the Bitcoin white paper.
Comparing the PoW of Bitcoin to the PoW of a shitcoin is like comparing a wooden box to a metal safe. Sure, both can secure your funds, but one is far far far more thermodynamically secure than the other.
Ok, I can see your point to a degree. How is monero less secure than btc then? And preferably a real world situation as evidence to the claim, not an opinion.
If a coin is secured by less hash power, then it is easier for a state actor (as an example) to come up with enough hashrate to rewrite the chain. The more energy at your disposable, the more capable you are of creating a longer chain and rewriting the networks history.
This has not happened yet, but it’s possible. It is why Bitcoin is so secure. The amount of energy required to rewrite Bitcoin is immense. This isn’t as true for the others.
Ok fair enough. That said, do you see no problem with Blackrock, in addition to their paper btc in the form of ETFs, is majority share holder in the five largest mining ops? I find that far more troubling, and something that is a real world thing, than some down the road hypothetical. Or Lightning Labs being a proud partner of the WEF? Or the fact that governments love btc, unless you try to add privacy (ie Samaurai)?
While it’s good to be wary of all of that stuff, I certainly do not find it any reason to store my wealth in a less secure network.
Bitcoin is money. Everyone will own money. That is inevitable.
If you wish to own some coin on a network that no powerful entities hold, you will likely never have money that the rest of the world accepts as a medium of exchange.
Those entities hold Bitcoin because it is secured by energy. Energy is power. Bitcoin gives power to anyone that holds it. I can’t say the same for the other coins.
Well if you wanna ignore red flags, thats your choice. But to think there will ever be a situation where the ENTIRE world accepts btc, that's just straight hopium. And as it currently stands, monero is the most used coin for everyday transactions. Btc is fine for long term Im not denying that,, but to shit on monero for literally no reason is just some hive mind shit. Its very useful, without jumping thru hoops for privacy, and all the alleged problems are hypothetical. Blackrock controlling miner companies can do exactly that 'state level' attack you mentioned earlier.
That’s cool, you are entitled to your opinion.
I am a little unsure you quite understand what a chain rewrite would entail, because BlackRock having influence over Bitcoin mining companies certainly does not lead to that possibility. It would require so much more.
I have also rarely ever, maybe never, seen monero being accepted at any merchant I have interacted with.
I pay for my life using bitcoin, I don’t see how that would be remotely possible using monero.
I also very much disagree on many levels that it’s hopium to think the world will move to a Bitocin standard. But this thread of replies is long enough.
Again, I am happy to agree to disagree.
All good bro. Getting late for me anyway. I just wanna say I truly appreciate you actually having this discussion. Quite literally any other time I have tried to have a similar one with a monero hater, the person freaks out and its just retarded. So thank you and have a great night or day or whatever time it is for you 🫡🏴☠️
#breakthestate #anarchy
I used to think that labels were just symbols of pride.
But over time I've seen they only serve to divide...
- Youth of Today, Break Down the Walls
Much respect to you too brotha. Always happy to have a civil conversation.
