Nostr is an open permissionless protocol.
The Monero community just has to build an app for it and add xmr payments.
Nostr is an open permissionless protocol.
The Monero community just has to build an app for it and add xmr payments.
Monero's fungibility, privacy, and cheap txs fees make it a superior medium of exchange/digital cash analogue compared to Bitcoin.
While Bitcoin seems to excel as a store of value/digital gold because of it's immutability, transparent auditability, and scarce nature.
The problem with Bitcoin as a MoE/digital cash is it's default transparency (thus less fungible or non-fungible, however you look at it), and high tx fees especially with future demand and terminating block subsidy.
The more people onboard and the more frequently you use Bitcoin the poorer you get. While the opposite is true for Monero. Tx fees are already sub-1cent but get cheaper the more users there are.
Has devolved into shit, but if you can find the signal in all the noise, like you say, it can be very valuable.
KYC = Know Your Customer. Laws that force customers to identify themselves when purchasing. It is ideal to buy and swap from KYC-free exchanges.
Good job, man! Keep us posted on your progress!
Wallets and Nodes are two different things. But sometimes they are both on the same app, so maybe this is the confusion. Nodes that you use (Public node or your own node) must be online most of the time or *at least* be available when you need them.
Let me attempt to clarify...
------------------1. [Connecting to Public Nodes]
Bitcoin/Monero/Lightning:
Your wallet only needs to be online to reach a Public Node the moment you send a transaction. Or if you want to check an updated balance. If you use Phoenix Wallet for Lightning, you use their nodes, but it is self-custodial, so the end experience is much like using Bitcoin and Monero with public nodes.
------------------2. [Connecting to your own Node]
Bitcoin/Monero:
Your node must be running 24/7 or *at least* be available when you know you will need it.
Lightning:
Same thing as above, but uniquely you are risking being rugged by a channel peer if you are not running 24/7 or at given intervals (low chance, but still possible). This is not a risk with Bitcoin/Monero because once your transaction is confirmed onchain it is settled. You must also have enough capacity to transact in any lightning scenario. Another issue not present with Bitcoin/Monero.
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Personally, I don't mess with lightning at all, much less the special headaches of running a lightning node. My opinion and advice...bad user experience. Unless you want to be running a node all the time, juggling channel capacity, staying on latest updates, and praying your funds aren't "force closed"...I would just use Phoenix/Breez/Blixt wallets for lightning. Up to you though.
I suggest creating a wallet and using public nodes for now to play with everything. This is the quickest way to learn what all these words mean and conceptualize it in your mind. You will learn very quick.
Not possible with ecash. They're both custodial.
If people want sovereign + private + final settlement then Monero isn't going anywhere soon. If ever.
Bitcoin Wallet: Bitcoin Core wallet is sorely lacking in features. For Desktop, I recommend checking out Sparrow Wallet or Electrum. With Sparrow you can Whirlpool(mix) your coins non-custodially and coinjoin when you send a transaction. For mobile, Samourai Wallet, Stack Duo, or Envoy.
Mobile Lightning Wallet: Zeus with your own LN node is max sovereignty, security, privacy. But just right below that are Phoenix, Breez, and Blixt.
Desktop Monero Wallet: Feather wallet or Monero GUI wallet
Don't burnt yourself out bro! Tackle them one at a time when you get inspired. In the meanwhile, there are simple intermediate plateaus to chill on with most bang for your buck.
First, buying KYC-free is already a massive step in privacy.
Use Phoenix, Breez, or Blixt for self-custodial LN without running your own LN node and messing with channels. Phoenix has tor built in. Sender privacy is decent on LN.
Using Monero with a public node is relatively safe and private behind tor or vpn. Try Feather Wallet for desktop it tunnels everything behind tor for you. Like I said before, reciever and amounts stay hidden completely even with public nodes so no worries. Potentially a public node can figure out the sender in a ring, but the way the attack works needs you to send the transaction twice. The way to avoid this: If you ever get an error when trying to send, just change to a different public node for that transaction to be safe. Extremely rare thing and easily avoidable.
There has been no contentious forks. All upgrades revolve around efficiency or privacy because Monero has clear goals. Monetary policy is not touched. But if that is your concern, don't save in Monero. Use it. A medium of exchange. Save in Bitcoin. Best of both worlds.
If I hand you cash is that "forcing" privacy on you? Makes no sense.
You can choose to make all your transactions public with your viewkey on Monero. The difference is it is your choice to reveal this just like with cash.
The custodial KYC exchange argument applies ten fold to Bitcoin because many more CEXes offer Bitcoin as Monero is being delisted everywhere. And Monero users are more likely to be privacy conscious. Its also worse when you do withdraw with Bitcoin because the average person can and will be traced.
Yes, you can plead fee reduction, but they can see and ask why you made certain choice. Such as CJing or not routing thru a centralized node would be contradictory to saving in fees.
A more honest thing to say is all of them have tradeoffs, not that Lightning is a replacement for Monero. Which is my whole point of contention.
I'm not sure what is the best one. But the three most popular are Cake Wallet, Monerujo, and Stack Wallet. All open source and great choices.
I switched over from Monerujo to Stack Wallet Duo and I'm really liking the UI/UX
Yes, I'm fairly familiar with ecash like Cashu and Fedimints. But to my understanding it is yet another tradeoff.
You give up custody for privacy and convenience. And the mint can "print" money unchecked. Altho, I think Calle has come up with at least a partial solution to verify reserves and liabilities. I can't find the link at the moment tho.
Yes, exactly.
I don't dispute LN gives more privacy than Bitcoin on chain when used correctly. Only that it is doesn't give as much privacy as Monero in both quality and simplicity.
And LN will never be a complete Monero replacement by it's very nature (such as final settlement). All of them have tradeoffs.
A reasonable position. Use each tool for it's strength.
Sorry for blowing up your notifications 😅
The point is the potential for rugging is there, while on Bitcoin and Monero it is not.
Like I said if privacy is not default it will overwhelmingly not be used that way. For a clear example, look no further than Bitcoin.
Also, your strategy of always swapping back and forth between onchain and LN defeats the entire purpose of cheap and quick transactions.
Okay. You've given me an addtional reason *why* ~90% of LN usage is custodial, but that doesn't change the fact that it *is* this way.
LN will never make Bitcoin, as a whole, fungible either. Another topic, but I doubt we'll ever come to an agreement.
Imagine having to worry about penalty timeouts every 2 weeks just to make sure your money doesn't go *poof* lmao. What a pain in the ass. Once your transaction is confirmed on Monero or Bitcoin it is final.
LN doesn't hide reciever and amounts, neither obfuscate IP.
If the protocol isn't private by default, most won't use it that way, just like Bitcoin.
If you don't use large routing nodes your LN transactions are much more likely to fail. And now you are just adding more friction and barriers for casual users. If you want to fullfill your global money prophecy the average person has to be able to simply use it.
Remember, all these problems are the self-custodial way of using LN. I didn't even mention that 90% of LN users are using closed source, custodial wallets like Wallet of Satoshi because using LN in any sovereign manner is such a hassle.
Lightning is in no way a replacement for Monero.
Lightning is not final settlement until it's on chain. Fully interactive. If you are not running a LN node 24/7 or trusting someone else to do it, rug potential is always there.
Most transactions route thru large centralized nodes.
But more importantly, it is not private, particularly reciever privacy sucks. Stop lying to people.
https://github.com/lnbook/lnbook/blob/develop/16_security_privacy_ln.asciidoc#attacks-on-lightning
I made a similar transition out of the Google ecosystem a couple years ago. Some inconvenience, but the sovereignty and privacy is worth it imo.
Lineage is great, but there is a more secure and private option out there you may want to look into called GrapheneOS that allows relocking of the bootloader, but you must have a Google Pixel phone as it has the only hardware that allows this.
CalyxOS is another good option that allows relocking of the bootloader. The way I understand it though is it's not as secure as GrapheneOS.
Another general privacy list you might find useful: