Can you explain why? That is all I am asking ans hence why I made my original point/posed my question. What is shit about it and why?
I'm not looking for a dogfight, I legitimately want to know what your take on it is based in the facts that both Bitcoin and Monero have in terms of capabilities.
Because I don't want to barter some niche junk (and thus become part of some obscure order book) for every service. I want to use solid money to pay for a good service.
Not really anything that can't be done on bitcoin or on top of bitcoin. Even some Monero advocates are excited about Lightning Bolt12 spec as it fixes some of the privacy issues lightning currently has.
The thing with altcoins are that, although if they have developed some interesting tech, it's not unique to that coin. If its good, and there are no trade-offs it can be implemented into bitcoin (for example, confidential transactions are live on Liquid, which is a bitcoin side chain), or on layers on top of bitcoin, which already exists such as coinjoins.
Bitcoin is uniquely optimised for decentralisation, security, and a predetermined monetary policy which is transparent. The rules are incredibly difficult, next to impossible to change without unanimous consensus without causing a chain split.
Altcoins doesn't have this robust, secure foundation and is often arbitrarily hard forked, and in other ways controlled by insiders by pre-mines, ICO:s, and owning infrastructure etc. So people who are building on altcoins are building on sand castles that has no viable long-term future.
There's also the question of anonset, bitcoin has a much larger anonset than monero.
How can you bring up liquid confidential transactions without even mentioning it is custodial? CT is only one of several things that makes Monero great for privacy and anonymity that is impossible for Bitcoin to achieve without major changes to the base layer. Coinjoins, while great, are not on the same level of ease and effectiveness as Monero.
Bitcoin anonset is not all of bitcoin. It is only as large as those who keep to best privacy practices. A tiny fraction of bitcoiners more comparable to monero anonset.
Tradeoffs only exist on everything else apparently.
The monero shills are here omg.
Right. But who will follow them.
In other words, invisible to me.
If monero anon set is small than wtf is liquids anon set.
Thank you for the explanation
