Subnostr

Well, let's understand each other, mkay?

First of all, if you can sign a Bitcoin transaction, then you can sign a message with the same software, a message that only the owner of the destination address can decrypt and read.

Bitcoin cryptography (yes, Bitcoin **is a goddamn "crypto"** technology, because it's based on cryptography) works for signing transactions or whatever message you want to encrypt and sign.

Second, if you type your 12 words seed on a device that is backdoored by anyone in the software and/or hardware supply chain, you may be typing it for both you and somebody else. In which case Bitcoin technology is worthless both for financial transactions and secure private messaging.

Third and last, Bitcoin loses fungibility every day, while Monero's remains untouched. Calling people "shitcoiner" won't change this technical hard fact.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 2y ago

third point, no. the everlasting question of inflation bugs means that monero can never be a truly reliable store of value, because it's not a hard currency - for all we know it could be 10% or 30% more in supply than anyone knows

don't tell me otherwise because there is NO WAY TO KNOW after the damn coinbase, unless you are telling me that monero devs have broken elliptic curve cryptography *cough*

technical hard fact

sorry, not sorry

but the other two points are correct, signing a transaction is literally an elliptic curve, usually ECDSA but now can be a wonky version of Schnorr, this is plain old cryptography, i can walk you through how to code one in Go in an hour

second point is correct, yes, and this is a big problem, backdoored hardware and firmwares, and is why we all need to agitate and amplify all the efforts being made to make auditable hardware and firmware

second point keeps me up at night and makes me wish i could just throw my mobile phone in a wood chipper and never have another one again

and damn you all, i will have a VoIP phone in the near future, running open source firmware... and no damn radio "wireless" fucking boomers

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Discussion

inventor 2y ago

Strawman argument. Fungibility has nothing to do with potential inflation bugs.

Saberhagen The Nameless 2y ago

Monero never claims to be a store of value or makes any promises about that. Thats a Bitcoin thing.

We would know there was an inflation bug indirectly when the price abruptly started tanking to zero.

But you can sidestep all those worries by only using Monero as digital cash and using Bitcoin as a store of value.

Ok that's true. But transparent supply doesn't make Bitcoin immune to exploited supply inflation bugs and their aftermath. No good solution for that. Hardfork out all the fake Bitcoin and screw over all users and merchants that gave away real products and services, or break the 21 million meme. Both would be pretty disastrous for confidence and price.

Saberhagen The Nameless 2y ago

Store of value is something that you cant promise technically. It is based on speculation. Historical trends can't predict future performance. Bitcoin is only 15 years old. Supply is only half the picture for price, you also need demand which Bitcoin can't control.

While Monero retains it's utility at any price. Sovereign, private, and cheap method of transferring value.