ASICs have their own weaknesses. CPUs have their own weaknesses.
Your Coinbase example is exactly why Monero is fungible and Bitcoin isn't. You to allow it all, or allow none of it. In either case it is fungible with any other Monero coin. While Bitcoin is split into tainted and clean coins.
Your argument about teh conequences of writing to the chain forever applies tenfold to Bitcoin. It is completely exposed. *Right now*, not in some hypothetical future™, Monero completely hides amounts with ZK proofs and uses stealth addresses to hide receivers on chain. If quantum computers become a thing, that vulnerability is not unique to Monero.
You can actively monitor and probe most Lightning Network activity and save all that data to be used later to be quantum cracked as well. Not very different. While what you're saying about staying private on LN is true in theory, most LN users don't transact that way (ignorance? UX hurdles?). They are not concerned with privacy (Phoenix wallet). Additionally even more aren't concerned with self-custody (~90% WoS, Chivo, Bitcoin Beach). Lightning has better default privacy than on chain, but *right now* it is not better than Monero.
We can use DNMs adoption as a simple metric. No one uses Lightning. Monero will soon dethrone Bitcoin on there where privacy is priority #1 and everything is at stake
Not fully blocked, but definitely some things that weaken censorship resistance:
ASICs are not as ubiquitous as CPUs. Less potential for decentralization.
Bitcoin miners can do targeted censorship. Not possible with Monero.
Most ASICs are made by 2 manufacturers. I'll let you imagine the implications.
Not discrete. If you buy an ASIC it is obvious what you are doing with it. Along with large energy draw, heat, and noise all paint you as a target.
Large corporate mining farms easily capturable by governments if/when they want to.
When price drastically drops, many miners are put out of business, ASICs are sold off and can be snapped up by governments or centralized entities.
The biggest mining pools are now KYC'd.
Liquid is a permissioned shitcoin requiring trust with Bitcoin brand slapped on, kiddo. Inferior privacy. It only has one part of Monero, Confidential Transactions (hides amounts only) not sender or reciever. It lacks Ring Sigs, Stealth addresses, and Dandelion++.
Liquid:
100% A sent $[?] to B
Monero:
~6% chance A send $[?] to [?]
Why are Bitcoiners obsessed with a permissioned system? #cuckenergy #larpcity
Who cares if it hardforks to improve privacy? It's FOSS. Fork it if you don't like the direction or if you think it is co-opted. No one forces you to use it. (Which is exactly what would happen if the community saw it going in a bad direction. Just like it forked from Bitmonero)
No one is forcing you to use the most upgraded version of Monero. You can use older versions any time you want. If most users voluntarily upgrade because they value the improvements, they don't owe you compatibility. Free market is choosing it.
It's like me getting mad that people don't carry CDs anymore and want to enforce the economy to forever be compatible at their expense.
Meanwhile Bitcoin privacy and fungibility remain in the stone age with rube goldberg L2s because "muh no hardforks"
I think he means the technical definition of money (the most saleable good). Neither Bitcoin or Monero meet that definition.
But they are both a MoE. Almost anything can be like your example.
100% exactly
You're hidden well with Monero smoke and mirrors. In contrast to Bitcoin where your ass is fully exposed.
It's bitcoiners criticizing monero, with no monero users on to counter anything they say...how is that not bias? Also:
I don't mind the criticisms about Monero because you're right some are true.
What I do mind is bitcoin maxis lying (ignorantly or intentionally) that L2 is a solution with no trade offs and a complete replacement for Monero, or that on chain obfuscation is privacy.
Darknet Markets are increasingly choosing Monero while Lightning has virtually 0 adoption on DNMs a highly adversarial environment where this stuff is put to the test. Shitcoins are used more than Lightning.
Caveat:
Lightning can potentially at some point in the future™ offer better privacy. Let's ignore the fact that Monero is not static and constantly upgrading privacy as well.
Let us also ignore any trade offs Lightning brings with it such as interactivity (AKA shitty UX to use sovereignly), centralized hub dependance for smooth experience, non-P2P nature, liquidity juggling, unusable for moderately large payments, and weaker off chain security garuntees.
Ok, if that is your concern, don't save with it, just use.
Treat as cash in your wallet.
Phoenix is not trustless and definitely not private.
https://phoenix.acinq.co/faq#is-phoenix-trustless
https://phoenix.acinq.co/faq#how-private-are-my-payments-on-phoenix
Are you familiar with Giacomo Zucco? He’s a hardcore libertarian bitcoiner and brilliant. Here’s one place he has discussed the economic and technological problems with Monero. https://m.youtube.com/watch?v=Q_ZfusSdyWA
Looks very unbiased. Lol.
I still like Giacomo so here is a more nuanced, good-faith discussion with him.
And L2s have no trade off?
What if I want my privacy without L2 trade offs?
Buy things...like you do with any money. Except it isn't controlled and surveilled. Just gave you a massive directory.
[Spend Monero directly]
monerica.com
moneromarket.io
kycnot.me/services
torproject.org
[Monero -> Gift Cards for everything else]
coincards.com
coinsbee.com
Nicolas van Saberhagen (anonymous)
...Maybe it was the disillusioned Satoshi Nakamoto 👀
Fiat -> Monero:
-Local Monero (localmonero.co)
-Bisq (bisq.network)
If you already have other KYC-free coin you can also go...
BTC/altcoins -> Monero:
-Trocador (trocador.app) ...privacy-focused exchange aggregator
-Unstoppable Swap (unstoppableswap.net) ...atomic swap
-KYCNotMe (kycnot.me) ...more exchanges
[Fiat -> Monero]
-LocalMonero
-Kraken (KYC)***
[Fiat -> BTC]
-Bisq
-Peach Bitcoin
-Noones
-Bull Bitcoin (KYC under certain conditions)***
-Vexl
-Azteco Vouchers
[BTC/altcoins -> Monero]
-Trocador (privacy-focused exchange aggregator)
-Unstoppable Swap (atomic swap)
-KYCNotMe (more exchanges)
[Spend Monero] (products and digital services)
-Monerica (massive directory)
-Monero Market
-KYCNotMe (digital services)
...and Darknet Markets!
[Monero -> Gift Cards]
-Coincards
-Coinsbee
localmonero.co
kraken.com
bisq.network
peachbitcoin.com
noones.com
bullbitcoin.com
vexl.it
help.azte.co/category/6-buy-a-voucher
trocador.app
unstoppableswap.net
kycnot.me
monerica.com
moneromarket.io
kycnot.me/services
torproject.org
coincards.com
coinsbee.com