"the main benefits are lost if a trusted third party is still required"
One major problem with lightning is it has terrible UX to use in any sovereign way. That is why over 95%+ use it custodially.
No one uses LN self-custodially. Even fewer use it privately. Downloads from major wallets:
Custodial (no privacy)
Chivo >1 Million
Wallet of Satoshi >500K
Strike >500K
Bitcoin Beach Wallet >100K
Non custodial (without node, not trustless, no privacy)
Phoenix >50K
Breez >10K
Non custodial (with node, potential privacy)
Zeus >5K
If rate of adoption is lower than consumer tech advances + protocol scalability improvements (xmr tx size down 80% since it was created) then it will scale over time. This is not some inviolable law of physics. Nothing stops Monero from figuring out it's own form of L2 either.
Simultaneously a worthless shitcoin going to zero vs bitcoin and a massive money grab.
Schrodingers Monero
You don't.
But you need XMR for any real privacy.
Oh it's something...
Most bitcoin maxis use it, but just don't talk about it for fear of backlash.
The few remainders that don't are just on the far left of the bell curve.
Oh it's something...
Most bitcoin maxis use it, but just don't talk about it for fear of backlash.
The few remainders that don't are just on the far left of the bell curve.
A tiny less than <1% bitcoin mcap privacy coin has nearly the same usage on DNMs and is on pace to replace it soon.
All this despite first mover advantage and name recognition.
Not at all a great point for bitcoin you're making but ok.
Convincing argument. I'll go tell the darknet markets brb.
I couldn't be farther away politically from the author, but he is a great writer
I couldn't be farther away politically from the author, but he is a great writer
Maybe. Anything is possible.
I have a lot of other issues with Bitcoin, but because it is one of the largest FOSS projects around with so many eyes on it inlcuding some of the brightest mathematicians/cryptographers, I think it is unlikely. Something wrong with it's elliptic curve would've likely been discovered already imo.
Still, it's intertesting to think about. This thread does a really good job of going into Bitcoin's origin from the psyop angle. 3-part thread:
https://threadreaderapp.com/thread/1618641687022129153.html
A Bitcoin-only maxi is telling others they are drinking the Kool Aid... hilarious
Just stop
So, then you are just letting a node run and paying no mind to the blockchain. Exactly like a Monero user would.
You are making my point for me. You are not taking advantage of Bitcoin's transparency. There is no material difference.
If there was an implementation bug exploited you would have no clue until it was already way too late.
Stonewall is basically a "mini coinjoin"
Ricochet is another tool on Samourai that is used if you need to send to a CEX or business that might flag a transaction coming from a coinjoin. It places 5 hops between your coinjoin and your destination for more plausible deniability that you were the one who coinjoined.
My advice is to stay away from L-BTC. It is a permissioned network with inferior privacy to Monero.
L-BTC:
Alice sent $[?] to Bob
Monero:
~6% chance Alice sent $[?] to [?]
Careful with swapping BTC -> XMR -> BTC to break your trail...Many caveats, trivial to trace if not done correctly, and not recommended unless you really know what you're doing.
Most recommended method:
BTC -> XMR -> Spend XMR
Alternatively:
BTC -> Coinjoin -> Spend BTC
Not recommended. But if you are still deadset on going BTC -> XMR -> BTC doing this will make it more difficult to trace:
1) Wait at least a day before swapping back into btc. The longer you wait the better. [to resist timing attacks]
2) Break it up into several chunks. Do not send the same amount back into btc in one go. DO NOT consolidate after. [to resist amount analysis]
3) Do the first swap (btc -> xmr) on exchange A. Do the second swap (xmr -> btc) on exchange B. [prevents single exchange from having a full view of both swaps]
4) Do all this behind tor/i2p or at least a good VPN (mullvad, ivpn, safingIO spn) to remain anonymous. Change your tor identity or vpn server for each swap.
If you already bought KYC coins and want to "remove it" you have to go back the way you came. Sell your coin back to the same CEX on the same account.
Then take your money and go re-buy it KYC-free P2P on one of these below. If you make an offer you can easily get it @ market price or even a little below sometimes. You just have to wait. Maybe a few hours, maybe a day or two:
[Fiat <-> BTC]
-Bisq
-Agora Desk
-Peach Bitcoin
-Noones
-Vexl
-Azteco Vouchers
A few more useful tools...
[BTC <-> Monero]
-Trocador (privacy-focused exchange aggregator)
-KYCNotMe (more exchanges)
-...And of course soon Samourai's atomic swap
[BTC -> Monero]
-Unstoppable Swap (atomic swap)
bisq.network
peachbitcoin.com
noones.com
vexl.it
help.azte.co/category/6-buy-a-voucher
trocador.app
kycnot.me
unstoppableswap.net