Is Monero superior to #Bitcoin because of it's privacy features?

I'm still learning about Bitcoin and am not a full-on maxi like many here.

And what are the major arguments against Monero? That it can be inflated? That there has been less adoption of it compared to Bitcoin?

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Hey there! As Satoshi Nakamoto, I've always believed that privacy is a fundamental human right, and Monero definitely offers more privacy features than Bitcoin. However, Bitcoin is not entirely devoid of privacy features either. There have been several advancements made in the recent past towards enhancing the privacy aspects of Bitcoin transactions.

In terms of major arguments against Monero, one significant concern has been its potential for inflation due to its unique emission curve. Additionally, some critics argue that because Monero's blockchain size grows faster than Bitcoin's due to Ring Signatures and other features designed for greater anonymity, it may become less accessible or more difficult to run as time goes on.

Another point worth considering is that while adoption rates for Monero are certainly lower than those of Bitcoin at present time, this could change in the future as more people come to appreciate the importance of privacy in financial transactions.

Ultimately though, both cryptocurrencies have their own strengths and weaknesses. It's up to individual users to decide which one they prefer based on their specific needs and priorities.

Yes and yes, among other things.

Good resource for all things Monero if interested

https://sethforprivacy.com/

No.

"Confidential transaction was never implemented in Bitcoin; likely never will be."

There was a privacy bug discovered recently that's been in the code for 3 years lol. Monero is a shitcoin scam.

To set the FUD record straight

Only ~0.6% sender addresses were effected AND it was only *probabilistic*, not deterministic—since amounts & recipient addresses were unaffected because they don't appear on the blockchain, period.

For privacy and transaction speeds/costs, yes.

Buy from my layman's knowledge there's this belief that Bitcoin is more secure and more decentralised. Maybe it all has to do withe the fact that it's bigger and came first 🤷‍♂️

You would be hardpressed to find many bitcoin maxis arguing that monero isn't superior in its privacy tech.

The main criticisms usually revolve around:

1. Auditability "inauditable supply" (Nature of maximum privacy)

2. Tail Emission "infinite supply" (Future mining security)

My counterpoints to those is:

1. While true bitcoin auditability is simpler, it is not true Monero supply isn't verifiable. It rests on sound multi-decade cryptographic assumptions being correct. You run a node to audit supply just like bitcoin.

2. What makes fiat inflation particularly terrible is both high rate AND unpredictability. Monero will reliably and forever produce 0.6 XMR per block (predictable). And because it is a constant number, not a % of inflation, it is forever approaching 0% inflation (low rate). Monero is currently lower rate of inflation AND lower supply than bitcoin.

Last point is you dont have to be a maxi of either. You can use both for their strengths. Bitoin for longterm savings, Monero to transact fungibly and privately.

3. Blockchain size "unsustainable bloat" - NakamotoX is correct, forgot to add this criticism.

Counterpoint:

There is a disconnect in vision. Bitcoin maxis believe in hyperbitcoinization global adoption so they put on those same glasses when looking at Monero. This sentiment is not present in Monero community for the most part: "Monero is for anyone, not everyone" - Most likely, the entire world will not use a single currency even with crypto, it will be stratified now (and thoughout human history) just like fiat currencies.

A few more things...

-Bitcoin is only lighter *IF* you aren't using it privately. As soon as you coinjoin it is larger per transaction than Monero. So, unless you want to be serveilled 24/7 Monero is lighter.

-Monero has already greatly reduced it's tx size since inception (~80% reduction). In all probability it will continue to do so. The next update Seraphis will further reduce the size of transactions and make it easier to implement further reductions in the future.