I still think lightning and layer 2s like cashu are the solution, no monero at all, especially when it's a dollar per sat and you can send a lot of money on L2s
Discussion
I'm leaning that way as well.
Cashu is nice and all, but you're basically playing with Bitcoin IOUs from randoms.
Lightning has its uses, and its limitations, and the same for Monero.
All are useful tools in the quest for privacy.
I, for one, wish they all improve & we get even more tools we can use.
But are the IOUs private? Because that's the topic. If I can keep a low amount of funds there to buy things privately while maintaining compatibility with Bitcoin and Lightning, why use Monero?
This is the crux of what I'm trying to figure out. Are there Bitcoin compatible tools that already give me privacy without using Monero? I don't care if they work differently.
If you understand the limitations and tradeoffs, Liquid (confidential transactions, but addresses are linkable) and Lightning (hot wallet network, I wouldn't put too much money in it) are probably good-enough choices for most cases.
I use them myself too, although Liquid admittedly far less than Lightning.
When it comes to storing a fat chunk privately and anonymously though, that's where Monero shines.
And since I believe privacy is a necessity, that's what I use as the "(oldschool, not cucked) Swiss bank account in my pocket".
YMMV. Personally I don't see much of an issue with using both chains, provided you can easily and trustlessly swap between them.
This is already possible, and it will only get better.
cashu IOUs are pretty private *as long as its a small amount*
amounts aren't hidden from the mint.
so if its a small, frequently exchanged token size, they have no idea.
but if its larger and unique, obviously they can know.
another problem with cashu is you have no transparency into the mint.
what anonset are you hiding in?
if the mint is just you and a few friends whats the point?
but if you risk using a mint that claims to be larger (and offer more of a crowd to hide in) then how do you mitigate rugpull risk?
its extremely early and none of the risks are even known yet, much less mitigated.
meanwhile you can just send monero with known privacy guarantees 🤔