Oddbean new post about | logout
 Bitcoiners think the Monero's community is against Bitcoin but the reality is far different. I knew Bitcoin around 10 years ago when there was no altcoins in general. Bitcoin was good, quick transactions with few fees, around 1 cents... then something change and there was moonboys chilling a highly expensive transactions fees system with 1 mb per block, bitcoin became slow, it took hours to settle a transaction. Bitcoin Cash was far more closer to the original version, Satoshi configured the 1 mb block saying it should be temporary, BCH community understand the need to adapt the block’size as adoption grew and they where right... Then I learned about many crypto, like Ethereum, Monero, Elrond, BNB, Solana, Luna, Ripple, Doge, PAXG etc etc... when I fall on Monero, suddenly something became clear, something I never asked before honestly. As Chainanalysis rise, it became obvious that a public ledger is a problem, especially linked by KYC. Not really about taxes, it’s far more deeper than that, if the state know where is your wealth and how do you use it, they can put you in jail for something "illicit", but in some country it can be death sentence. They don’t need CBDC, Bitcoin is the world’CBDC, traceable, linked to your ID, just a matter of time for controlling the network itself and be OFAC compliant, mining is heavily centralized already and it should only go that direction because of Halving... the whitepaper said 1 cpu 1 vote, Bitcoin and so many failed that way, Monero is ASIC resistant, maybe the last one to resist, we need to be clear, this is a question of death situation, not promotting my prefered shitcoin because the name or the chart sound's good... true bitcoiners are in Monero because it’s the only one remaining castle. If you value privacy, you should support Monero, not fight it, but let’s go with Lightning Network and any way possible to improve privacy on Bitcoin, Monero is not the ennemy of Bitcoin, just a better version. For information, Bitcoin is the first functional try of Cypherpunk's work to create an anonymous transaction system as written in the Manifesto: 

"Therefore, privacy in an open society requires anonymous transaction systems. Until now, cash has been the primary such system. An anonymous transaction system is not a secret transaction system. An anonymous system empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy."

I don’t hate Bitcoin, but at some point Bitcoin is a successful failure. Monero is the first functional anonymous transaction system.