Replying to Avatar Naval

Long term, we need private money or it just gets traced / taxed / seized by the state anyway.

But truly private money makes for a bad store of value. You can’t audit the ledger, so a bug could create unlimited inflation that would be hard to detect.

So privacy is how you move money, not necessarily store it.
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Jeff Booth 1y ago 💬 2

Exactly - Bitcoin is a protocol bounded by energy that is coming in layers driven by the free market. Interoperability layer is lightning and then Fedimint/ecash - completely private with different trade offs. The combinatory nature of these + nostr in this protocol stack gives something that is very early in scaling, but beautiful and impossible to stop.

Happy to chat more!

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Hanshan 1y ago

You need protocol level privacy. Stop justifying doing it on the app layer.

It cannot be both decentralized abd censorship resistant.

Furthermore you are ALREADY trusting cryptographic primitives everytime you use BTC. Why would you refuse OTHER primitives that provide privacy???

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Hanshan 1y ago

Bitcoiners are racist against range proofs.