Best thing is if your crypto was truly decentralized and unstoppable it wouldn't matter either way what the SEC does #Monero
There is a market both ways. You must not trade much.
Use Trocador or LocalMonero. It's easy and quick af
Basically
use Bitcoin for: Scarcity, transparency, immutability, store of value
use Monero for: Fungibility, privacy, adaptability, medium of exchange
3. Blockchain size "unsustainable bloat" - NakamotoX is correct, forgot to add this criticism.
Counterpoint:
There is a disconnect in vision. Bitcoin maxis believe in hyperbitcoinization global adoption so they put on those same glasses when looking at Monero. This sentiment is not present in Monero community for the most part: "Monero is for anyone, not everyone" - Most likely, the entire world will not use a single currency even with crypto, it will be stratified now (and thoughout human history) just like fiat currencies.
A few more things...
-Bitcoin is only lighter *IF* you aren't using it privately. As soon as you coinjoin it is larger per transaction than Monero. So, unless you want to be serveilled 24/7 Monero is lighter.
-Monero has already greatly reduced it's tx size since inception (~80% reduction). In all probability it will continue to do so. The next update Seraphis will further reduce the size of transactions and make it easier to implement further reductions in the future.
You would be hardpressed to find many bitcoin maxis arguing that monero isn't superior in its privacy tech.
The main criticisms usually revolve around:
1. Auditability "inauditable supply" (Nature of maximum privacy)
2. Tail Emission "infinite supply" (Future mining security)
My counterpoints to those is:
1. While true bitcoin auditability is simpler, it is not true Monero supply isn't verifiable. It rests on sound multi-decade cryptographic assumptions being correct. You run a node to audit supply just like bitcoin.
2. What makes fiat inflation particularly terrible is both high rate AND unpredictability. Monero will reliably and forever produce 0.6 XMR per block (predictable). And because it is a constant number, not a % of inflation, it is forever approaching 0% inflation (low rate). Monero is currently lower rate of inflation AND lower supply than bitcoin.
Last point is you dont have to be a maxi of either. You can use both for their strengths. Bitoin for longterm savings, Monero to transact fungibly and privately.
To set the FUD record straight
Only ~0.6% sender addresses were effected AND it was only *probabilistic*, not deterministic—since amounts & recipient addresses were unaffected because they don't appear on the blockchain, period.
Rafael from Crypto Vigilante calls Bitcoin "the honesty chain"...
I think this is a great description. It's strength is it's clear verifiability/auditability and resistance to change in a economic world of deception.
Monero is a shadowy cyber forest that provides refuge from real world adversaries. It's obfuscation/anonymity and adaptability make it a powerful tool.
But both of their strengths can also be their weaknesses.
I can think of a couple very recent things.
-Tor just implemented a version of PoW based partly off RandomX:
-Monerujo wallet just released "Pocket Change" an expiremental app layer solution to get around the 20minute lock limit wen you have few TXOs:
https://www.reddit.com/r/Monerujo/comments/1412gah/update_for_the_fearless_monerujo_v337_pocket
Forgot about Unstoppable Swap going into beta:
I can think of a couple very recent things.
-Tor just implemented a version of PoW based partly off RandomX:
-Monerujo wallet just released "Pocket Change" an expiremental app layer solution to get around the 20minute lock limit wen you have few TXOs:
https://www.reddit.com/r/Monerujo/comments/1412gah/update_for_the_fearless_monerujo_v337_pocket
🤝
I can easily see Monero and Bitcoin coexisting with their own unique strengths.
Theyre both one of the extremely few truly decentralized crypto with similar visions. Ultimately, I'm a freedom maxi. I don't care what gets the job done and I hold and use both.
We often get lost in the sauce , but like you say we are 99% on the same page.
You think if an update to Monero was so sinister and detrimental the community wouldn't fork the code? I never understood this "centralized" argument.
Isn't that the whole point of being open-source?
If you are relying on favorable regulation to succeed what is the point of crypto? It's the whole reason bitcoin was created. So you don't need to ask permission from gatekeepers.
Found this thread interesting. Phyrooo discusses a possible way to do it. Or at least make storing arbitrary data extremely hard and costly.
