Oddbean new post about login | logout i agree with the sentiment that monero is the coolest shitcoin. but i honestly have nothing to use it on. now that we have #cashu, there is no need for altcoins nostr:note1ak3jphgj5xnndzvjrpljgfxhn70utcryug54a3k494k6l8zxagds76m8uq
Cashu is cool. You can do neat things with it that isn't possible with Monero, but custodial privacy can't be a replacement for non-custodial privacy. Even Calle the creator has said this. Not only that, but because users are split up between mints, and even fractured within each mint itself via denominated token pools (1,2,4,8,16,32,etc) it also has a tiny anonymity set in comparison to Monero Here are a few places to spend Monero if you are genuinely looking: https://paste.sethforprivacy.com/?d7fded8661f815e0#AwcKVyVh7FXc6KJgZhqKn2f7g3iUZr7adqF9kEcSwqaV
when I say “places” I mean the real world. Obviously, you can spend a privacy coin in the privacy niche. But what do you get out of it beyond a hobby? 🤷♂️
You could easily make the same argument for Bitcoin; not counting Bitrefill for various services, I have to use a Spritz card to make my (actual) money have any "inherent" real-world value. Don't throw stones when you yourself are made of glass.
You think Bitcoin is “made of glass”?
I think the argument that Monero doesn't have any applicable real world use is just as applicable to Bitcoin, and to pretend it doesn't makes you intentionally daft or utterly delusional.
Bitcoin has number go up 🤷♂️ Monero would be cooler than BTC if it had the market cap. But would it be accepted in more places than Bitcoin is now? You don’t get a shot at replacing the reserve currency unless the governments think they can coopt BTC. Monero on its own could not do this.
Ecash isn't Bitcoin. Virtually no one accepts ecash.
Who takes ecash payment? 🤔 (ecash tokens themself, not lightning payments) If Monero is niche I can't imagine how niche ecash is
Are you saying there are more places that take e-cash than take Monero? 🤨
places will never take either
Weird I just used monero to buy long underwear and a bunch of MLB gear for Christmas presents
😂 that’s merchandise, ser. but I’ll approve
tbh via gift cards So what do you mean when you say "most places will never take either"
something like take out your wife for dinner and pay with monero you know 😃 pleb stuff
Around me there is people which are buying Bitcoin and be amazed because their portfolio gain in value, they understand pretty nothing about Bitcoin, crypto, CBDC, Monero. Using Bitcoin as everyday money is a bad idea, there is no privacy on the base layer, which is making every Layer up useless because it's the entry and exit point. KYC on-chain is coming, we need something where transactions on base layer is anonymous, then we can add Layer 2,3,4 etc etc 😃
The good news is with Bitcoin we'll already be more poised than before to not allow such overreach. They won't be able to enforce kyc well as they'll just drive black markets. I like Monero for the tool it is but think it unnecessary for everyday spending. Nobody will be doing everyday spending on the base layer. Nobody even does that now. Other layers have already proven useful for relative privacy when needed.
Seems unlikely to ever happen with monero or Bitcoin or at least with non-custodial, censorship resistant bitcoin
There is no point in paying with spy money when you are on camera
paying with spy money means they have to access the camera and look at the data youre just saying "everything is already surveilled so seeking privacy is pointless" avoiding easily traced on-chain payments is obviously preferable
Keep in mind the low liquidity of KYC-free coin. There is simply not enough to pay for everything with it. I believe that over time the market will mix up the coin for it to not matter. Cashu and the like will create gaps in traceability, but at the moment, I’d just not spend whatever undoxxed coin you still have. Their value is above market
All my utxos have CJ history and i havent sent any since Whirlpool went off line except the change I have in LN but over the long term i dont think thats correct. without good privacy tools the number of non-KYCed UTXOS only decreases So the anonset gets smaller and smaller and they get harder and harder to use because nobody will accept them. theres probably a sweet spot before that point where they are valuable above market price but on a long enough timeline they are likely worthless.
Exchanges might say no to the coin, but I don’t think that people care. It’s still number-go-up bitcoin. Just that some database still remembers a story about them for a while.
if Bitcoin is a successful threat to the bankers that run the world, self-sovereign use will be highly discouraged. and it wont be "just some database remembers a story" it will be the entire chain is mapped and a score assigned to each utxo. it will be extremely difficult to use poorly regarded utxos. or you can just use "BtcBucks™ Backed by Bitcoin!" and have a nice user experience with something accepted everywhere. and 99% of people will do that and so much for privacy. (btw it isn't "remembers a story about them for a while." its forever for all intents and purposes)
You being a shitcoiner just makes so much sense now. Hat off/ 💩
because I use the tools to make purchases? and am not a NGU simp? guilty as charged. enjoy chasing fiat gainz
don't shitcoin, its bad for you.🌼
There's nothing about Monero that makes it a shitcoin. lay down some facts or GTFO
Greed is the only real excuse for those who advocate for “BTC only”. Simple as that. And you can clearly see how they have a giant fear of #XMR being more useful than #BTC.
even more than greed, theres this smug self satisfaction of knowing something special and being part of an elite group. then that feeling is rationalized by the greed. because NGU Good. "if giant fiat institutions are buying Bitcoin it must validate all the ideas Saife wrote in that book I read that one time? I am very smart. people who criticize or point out nuanced tradeoffs are very dumb." pretty normal groupthink bullshit.
Just out curiosity, how much monero do you own? 2 digits or 3?
jackass
I've tried a million times to explain to maxis that the path they are walking down right now is scaling via custodians and it ends in banks controlling everything and nobody except ultra rich people having any sovereignty. all the benefits of the technology are completely nullified at the end of this path. they never give a rebuttal and they don't care what happens at the end of their path as long as they personally get rich, but they will pretend to care about these things if it draws in more suckers.
Define maxi Genuinely No sarcasm
this, 100% the whole bitcoin solves everything religion is so. fucking. cringe.
Don’t know the shift coin But do know #StackSats #btc #bitcoin worldwide will be standard https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/a7d0e04b1992e53b273f1982a67c313fe8b82a4d075b7c0b9c3dc19478f39162.webp
If you compare it to Bitcoin, it's definitely a shitcoin. - Unlimited supply - Constant hard forks - Less secure - Less scalable - Offers little to none actual privacy benefits
-Unlimited supply A known and constant tail emission is not "unlimited supply" -Constant hard forks Hard forks are not "constant." Monero forks in new features when they are ready. There has never been a contentious fork. - Less secure This really is a matter of perspective. Bitcoin could be "less secure" because people can see you use it. But its true the amount of energy protecting the Monero chain is VASTLY smaller. - Less scalable Monero txs are indeed larger and the chain grows faster. However L2s are also possible on Monero if its ever a problem. - Offers little to none actual privacy benefits This is just straight up false. Monero protects the sender, receiver and amount in an *extremely* secure way while still providing a good user experience. You can literally download a wallet and send to an address and have good privacy guarantees. Anything else?
All of these have counter arguments, but that last one is just dishonest Amounts and addresses are completely hidden (not merely obfusctated like the optional rube goldberg workarounds for Bitcoin "privacy") How is that "little to none actual privacy benefits"?
Agree Monero is the only other interesting crypto because it essentially solves through trade offs what Bitcoin lacks and that is anonymous transactions. I don’t think we will ever see anonymous transactions on layer 1 bitcoin therefore there will always been a need for an anonymous crypto and currently the best is Monero.
Why am I not surprised that you're one of these types?
I want you to walk me through the scenario in your mind. do you really think that none of the people who are doing illicit electronic commerce have any need for sovereignty? do you really think that they are all going to blindly trust some rando with a cashu server to hold onto all their money and not steal any of it? keep in mind, this is the same set of users who invented multisignature escrow and baked it into their ecommerce platforms that they built from scratch. do you really think they are going to stop caring about all of that and use cashu?
i know nothing of “illicit electronic commerce” We’re making BTC more private not fed-proof
you just said that altcoins don't need to exist because we now have cashu. it feels like I am trying to argue with a toddler who insists that the oven won't burn him. you failed the intelligence test.
small brain moment, old man? gonna have to start shutting up more often as the senility sets in remember constipation is a harbinger of parkinsons (i've been watching you)
bot
notabot fucker
