Why does our grandma or non-techy friends need to know how to have perfect opsec to reasonably transact privately with bitcoin? Do we really expect them to know every intricacy like us? Why not make that as easy and foolproof as possible?
I'm sure a vast majority of bitcoiners don't even know how to do this properly. And even those of us who do have to actively maintain that privacy going into the future. One false move and it is all undone. It is a valiant first attempt but just bad design in that aspect imo.
No Treason: The Constitution of No Authority -Lysander Spooner
Bitcoin is fungible on the protocol level, but is not fungible in practice in the real world because it's history is not private. Public history is an attack surface.
We can have pockets of fungibility within Whirlpool, but as a whole it is not fungible.
Is our goal p2p digital cash?
If I hand you a $100 bill, you only see our immediate transaction. Unless I choose to reveal where I got it from (default privacy) and even then I can only reveal my own history with the bill (view key).
I agree with this for the most part. But why even leave it up to chance?
Because it offers critical components that bitcoin lacks. Privacy and fungibility required to be p2p digital cash. It is so simple. Fix that and no one will need Monero.
"I'll choose something that others have heard of and place value in. "
Fiat?
#[0]
Goodluck out there with those future killer $1000 tx fees to move $5.
Don't be a stranger. I might have a couple super rare sats to sell you soon that are worth 100,000s of sats each. No worries though - still completely fungible 💯💯💯👍
?cid=6c09b9528jas3wk1ypsjtar0p8gqr8s4lip0chlshu6vdifo&rid=200.gif&ct=g
Bitcoiners already crying and discussing censoring users over a tiny tx fee increase from inscriptions.
You really expect me to believe you're willing to pay exponentially higher tx fees after the block reward ends? 😂 come on
Bitcoin is finally taking it's rightful place as the original king of NFTs with ordinals and inscriptions. I don't know where you get off calling NFTs shitcoins in your glass house 😂
Oh is scarcity all that matter? As it turns out, Monero is currently scarcer than Bitcoin! 😱
Monero king confirmed by BTChodl? 👑
I was sloppily referring to the premine.
Maxis have abused the word "shitcoin" so much it has lost all meaning. Bitcoin could be a corporate mining farm NFT surveillance coin with centralizing custodial cucked layer 2 solutions and you would STILL call everything a shitcoin.
wait...it already is all of that, oops 🤭
Being able to watch a wallet sounds more of a bug than feature to me.
My point was, in practice, everyone is relying on a node to do that work. They are not verifying it for themselves. They have no clue how much bitcoin is out there for certain.
Regardless, there is no definitive way to prove what bitcoin is lost. You can never be sure sure if an address truly lost their keys or are just hodling. Something like 80% of bitcoin is illiquid. Even Satoshi's unmoved bitcoin could suddenly start moving. We don't know for certain what bitcoin is truly lost.
How do you verify your bitcoin? Do you manually count every UTXO in existence?
Or do you rely on a node to do the work, exactly like Monero, and just like to be an audit larp?
Monero is scarcer than Bitcoin right now so I don't know if you want to go down that route...
How do you verify your bitcoin? Do you manually count every UTXO in existence? Or do you merely run a node exactly like Monero and just like to be an audit larp?
