The KYC aspect of BTC is something I see people taking seriously… But Monero exist, and you can easily shift in and out of it as your privacy needs change.
Why can’t we have ring signatures in BTC instead of making this a XMR vs BTC fight when we all want the same thing?
Because Bitcoin needs to have an open transparent ledger.
Monero seems as effective as BTC, but much more hostile towards adoption by governments and businesses trying to do things legitimately and transparently.
I guess it doesn’t really matter if it goes up in value, as long as it’s there when you need it, Monero can just function as a tool you get/use as you need.
For the sake of moving forward, we all have to Hodl in BTC, in this case
it would be a hard fork and nobody will agree with that.
also the monero communitt wants to get rid of ring signatures and instead of a ring of 16 signing,
it would be a proof that the spend exists, but it could be ANY output on the chain.
So Monero is shifting out of ring signatures, in favor of something better?
It’s not a clear-cut solution but that level of privacy is what people are looking for, in BTC
ring signature's are the weakest part of moneros privacy.
sends are signed with a "ring" of 16 signatures. one is the real spend, the other 15 are decoys.
obviously it is less than great to publish the real spend on chain, even if there is ZERO way anyone can tell which one it is.
The Full Chain Membership Proofs (FCMP) monero ia moving towards is a more complicated signature
but instead of one of 16, it would be one of *all the outputs that exist*
A big jump in privacy.
The Zcash shielded pool works in a similar way. Ring sigs are what Zcasher fud when they dis monero.
Ring sigs are ok and have worked pretty well.
But FCMP is the holy grail for sender privacy.
Gonna into FCMP more.
That sounds interesting 🤙🏽
