That is ok. XMR still better than fiat. Inflation is small and predictable. But maybe not as good as BTC in that criteria.
Monero is better at being private p2p digital cash. Just treat as cash. Don't keep savings in it if you are concerned.
Yes, please fund our R&D for free!
Monero will either become stronger or show us it would've failed eventually anyway if it couldn't stand these non-state attacks.
win/win
Agree
at this point it would do more much more harm to change since conservativeness and ossification have become such major values for btc
Monero tx fees would be even lower per tx with more txns because of dynamic blocks so you're wrong. Wonder how much tx fees those Bitcoin users had to eat ๐ค Imagine going broke simply by using your money.
Well no shit btc mcap is like 200x xmr wtf do you expect? ๐
monero still doing 8x more txns than btc adjusted for mcap
It's a never ending arms race with privacy and tech. I think it will ebb and flow.
Yes, exactly, which is why I think privacy is so important and you can't have freedom without it. This is already showing itself to be an issue. China and India government stance on crypto come to mind. Remember the Canadian Trucker protest Bitcoin donations?
But it's not just government, but other non-state adversaries to be wary of as well.
I don't know if you saw this recent news from a few days ago: https://www.dailymail.co.uk/news/article-12345375/Missing-millionaire-crypto-influencer-41-dismembered-suitcase-Argentina-cops-launch-murder-probe.html
Lopp keeps a log of known major attacks as well:
https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md
You might be right. That aspect might not be much different. There will always be elites with some richer than others in either system. But the major difference is they have no direct control over it like they do with fiat. We move in the direction of more fairness:
#1 Cant print more out of thin air.
#2 Cant stop you from transacting with it.
#3 Cant be confiscated.
One major attack surface on Bitcoin though is it's lack of privacy which weakens #2 and #3
These are probably the most popular and recommended software wallets in the community. All open source and non-custodial. In no particular order:
-Monerujo [Android only]
-Stack Wallet (Multicoin. Bitcoin/Monero only version available) [Android, iOS]
-Cake Wallet (Multicoin. Monero only version available) [Desktop, Android, iOS]
-Anonero (Only available thru Tor) [Android only]
-Mysu (Only available thru Tor/I2P) [Android only]
-Featherwallet [Desktop only]
-Monero GUI [Desktop only]
anonero.io
mysu.dev
I find it hard to believe you were involvded with Monero in any serious sense if you think the only privacy tech Monero uses are ring sigs.
Again, you are strawmanning.
If your thesis is Monero "will decay like food" you don't have to stack Monero long term. You can continue saving in Bitcoin if you wish. It is not binary. There are major differences/trade offs between LN and Bitcoin on chain otherwise you would keep all your Bitcoin on LN.
Not only that, but people stack all sorts of things that decay in the real world. No one on the planet keeps 100% of everything they own in perfectly un-decaying assets. I'm sure you also own many things that decay for different value or utility besides savings (vehicle, food, cash, electronics).
You are very misinformed about Monero. You could do a quick search and find out in a few seconds that is not true. You are right that ring sigs are only obfuscation. You are wrong that it is the only thing Monero uses.
1) Ring signatures are ONLY for the sender. (and it is by default unlike Bitcoin coinjoins)
2) Confidential transactions (ZK proofs) hide amounts completely
3) Stealth addresses hide recievers completely
For privacy:
Monero >>> LN
1) You see virtually 0% Darknet Market adoption of Lightning where the lives of people hang on the line.
2) Even though there exists possibility of some privacy on LN with much hassle - How does 90% of everyone use it? Custodially with things like WoS (no privacy from custodian). The remainder use something like Phoenix for self custody (no privacy from ACINQ) https://phoenix.acinq.co/faq#how-private-are-my-payments-on-phoenix
3) Search any technical paper and you will find that Lightning was not built around privacy and has many problems. It's focus is quick off chain payments with privacy as an afterthought or happy coincidence. Here are a few links.
https://github.com/lnbook/lnbook/blob/develop/16_security_privacy_ln.asciidoc#attacks-on-lightning
https://lightningprivacy.com/en/introduction
https://abytesjourney.com/lightning-privacy/
No. Withdrawing Monero would be like withdrawing cash from an ATM. The bank doesn't know what you did with your cash after you withdraw. But they would still know how much you took out. That's all.
Buying KYC isn't as bad as doing it with Bitcoin, but still potentially detrimental or even dangerous. I advise buying noKYC from LocalMonero or Bisq. Or swapping other crypto into Monero with Trocador.
Businesses accidentally leak customer data, get hacked, or are forced by government to hand it over. These things happen pretty often.
Agree, but itโs auditability issues and other complications caused by its anonymity make it much less favorable as a global economic system. Thereโs obviously a use case for privacy-oriented solutions, but I wouldnโt categorize them as second-best. Rather a tool for an extremely narrow audience.
Bitcoin is good enough for most users and provides options to stay pseudonymous given that you follow basic privacy practices.
nostr:npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc covers these in his article here: https://www.swanbitcoin.com/bitcoin-privacy-best-practices/
The "can't be audited" argument is weak when you consider a few things...
1) Exactly 100% of bitcoiners run a node and call it a day. Exactly like you audit with Monero. No Bitcoiner is taking advantage of it's transparency/simple math and scrutinizing the whole blockchain to make sure everything is correct.
2) AND an exploited inflation bug would be equally catastrophic if it happened to Bitcoin or Monero. Once it happens it is too late. There is no good solution. You can't undo it without hurting users.
So, who really cares if you can see it. You will know it was exploited directly with Bitcoin, or indirectly with Monero, but nothing can be done about it. The damage will be done.
True, you can get a false sense of security and get lazy.
But IP leakage is less of a problem with Monero tbf. Dandelion++ obfuscates it even if you don't mask it. Much harder to make mistakes on Monero vs Bitcoin.
I save with Bitcoin, and use Monero as spending cash.
Agree that Tether and Liquid are dumpster fires though... ๐
Monero-like is a stretch. Liquid only hides amounts (confidential transactions).
It doesn't obfuscate sender, IP, or hide reciever (doesn't have ring sigs, dandelion++, or stealth addresses)
"A sent $[?] to B"
VS
"6% chance A sent $[?] to [?]"
Virtually no one uses liquid either (market says na)
But even worse than all that it is permissioned to peg out and not trustless.
Why do maxis contort themselves to support this shit? Like the apologia for WoS? I don't get it. Any shitcoin that had these properties without the "Bitcoin" in name-only brand would immediately be denounced.