Replying to LNCope

Lol, you think 300k sats is a lot?

So you had to make 4 seperate payments to move a few hundred bucks? Amazing. The futue of digital cash here.

You can send any arbitraily large amount in one shot with Monero or literally any other decade old cryptocurrency.

"i trust my own cloud hosted lightning node"

No normal user is going to run their own lightning node and deal with managing channels. One of many problems with Lightning. Most users will use a LSP or custodian meaning their privacy will be substantially diminished VS even the privacy a public Monero node would offer.

Thats why 90%+ of LN addresses and zaps are custodial. Even the majority of Bitcoin maxis don't want to deal with that shit and you think the average user is going to do it. Lulz
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ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

the future of digital cash that i was using in 2013. right. got it.

i am literally running my own LN node with three channels. just because not everyone is going to do it means nothing for your argument

neither does "but everyone will use custodial" - and doesn't everyone already custody a lot of money with banks right now? do i need a license and bazillions of dollars and a brown nose from slurping up the arse of bureaucrats to do that? nope. no permission required and nobody can stop me and nobody could stop me.

blockchains were already old hat 10 years ago, and bitcoin is going to have full CTs soon anyway, most likely before 4 years, and then you have private payments via LN, or through trusted third parties who can literally be anyone with a thousand bucks worth of sats or so, currently, you can have ecash mints which are also similar in that it's between you and the mint (but unlike lightning you must use tor to hide your transaction timing, just as you do with monaro), and then you can do big stuff on chain over tor and good luck tracing those

you are flogging a dead horse that has become a skeleton a long time ago if you think that a chain with transactions is better than all the options you have with bitcoin now

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LNCope 1y ago

"just because not everyone is going to do it means nothing for your argument"

Yes, it does mean something for my argument. The bar for using LN privately is substantially higher than Monero = less users doing it that way = smaller anonymity set. Look at LN custodial and LSP stats. Virtually everyone is using it this way.

Great you're the 1% of LN users that will be super private in their tiny anon set, congrats

"doesn't everyone already custody a lot of money with banks right now?..."

Irrelevant. Nothing to do with Lightning.

"you can have ecash mints which are also similar in that it's between you and the mint"

Didn't you just say something "no permission required"? Then you immediately bring up ecash. That's in fact what you're doing with ecash to redeem tokens and leave a mint. But even ignoring that having many mints fracture up the anonymity. Its further fractured within each mint itself since each mint has denominated value "buckets" (1,2,4,8,16, etc) The larger token value, the smaller your anonymity set.

Oh yea and public mints are easy targets for money transmitter laws bureaucrats.

Solved using anonymous mint? Welcome to easy rugville

What will your argument be once Monero enables L2s with FCMP++?

Encrypted chain + L2 >>> Transparent chain + L2

Privacy without data leak liabilities of the basechain and actually able to practically enforce it on the basechain for smaller amounts. Bitcoin fees *must* rise over time if you think everyone is going to be using it. The threshold to practically exit will keep rising with it.