Oddbean new post about login | logout I don't doubt the truth of what you're saying. It's just that human behaviour is the reality of what you're up against. NGU is what people want over and above absolute privacy. That, amongst other things (chaumian ecash) is why good enough will beat perfect.
Ecash is custodial and mints can print IOUs unbacked by Bitcoin. Literally throws away the two main things Bitcoin was trying to solve.
but if you use it as a quick swap tool, shouldn't that not matter?
You can gauge your risk accordingly by reducing exposure in amount and/or time to make the these risks low/negligible. But strictly speaking it will always be custodial and there is no guarantee that those who hold ecash tokens will ever be able to redeem them for real Bitcoin, or that others will take them at their represented value. I think there will be many rugs by mints (both intentional and unintentional) before it gets somewhat better. But the risks will never be lower than self-custody on chain. https://iris.to/note1mmtkufs30679q4cem09lrdzx4cevr8ss9269wlrl34k6tarmzwfs0s880t
The vibes from you and other fellow hardliners here are weird. I only k ow a handful of XMR advocates so i wont claim to know the xmr communitys motivations - but no monero advocate ive ever met wants to *beat* bitcoin. The only thing they want is privacy. Whereas the bitcoin community, of which i am much more a part, has this weird obsession with beating monero as if its the enemy. Xmr aint the enemy. Two things can coexist. Bitcoin will be bigger forever. Punching down to a group who want to be left alone or even are bitcoiners themselves is the kind of thing the enemy does. "People want ngu"? Ya some people. But some people want privacy, and still others may want both. Ecash isnt bitcoin and its not self custodial. Thats straight from @calle 👁️⚡👁️
I assure you, good sir, I'm am of the soft and squishy liner variety. You've overplayed way too much of your own bias over my words.