Oddbean new post about | logout
 @Seth For Privacy
https://image.nostr.build/d46e382d3ba1a0947494ac041b4ab7c9b85c483b1ed74a779695292422b878b8.jpg#m=image%2Fjpeg&dim=864x1920&blurhash=%5B16%5B2H%7Eq00%25M4TspxuRk00V%40%25Mo0%25MofRit700IUxuM%7BIoR%2BWBWB0KSMf%2BWV-%3BNHbaf%2C4.NGxuNG&x=c5146d859fe7ac6b365bf48605b3c0bf5c551ba1a380a9a06815de1fb96c2222
https://image.nostr.build/fd3f819d30382ef5abcf674dfe59b977bc4423363de6861200ebd63d5c507836.jpg#m=image%2Fjpeg&dim=863x1189&blurhash=_17w%3F1%7Eq00%25M00%25M4nofRjRjxuWBt7ay%25Mayt7WBRjj%5Bj%5B%25MayM%7BxuofWBWB4nxut7M%7Bxuj%5Bof_3RjWBj%5BWBj%5BRj4nWBofayj%5Bayxu4nRjt7ayt7WBt74noft7Rjt7ofof&x=5a8eae09bf5b7803302cccfe31873e404fce636a4d4893af14db2fa908155d85 
 Interested to hear how his favourite coin Monero is planning to scale.. 
 I think he turned a leaf a while ago and said that he was more inclined towards Bitcoin now. 
 Bitcoin and Lightning don't scale either so... 
 Yes it does. LN scaled Bitcoin. How does Monero scale to the same level? 
 It's already widely accepted LN doesn't actually scale. If you still think so, you've been duped.

“In the future, if you have this one-megabyte restricted blocksize and the Lightning Network, it is still the rich people and companies that can use lightning but the average user probably can’t.” -Tadge Dryja, co-author of The Lightning Network White Paper
https://www.whatbitcoindid.com/podcast/tadge-dryja-on-the-limitations-of-the-lightning-network

https://www.truthcoin.info/blog/lightning-limitations 
 So how come I can make hundreds of tx with only one onchain tx? You do not consider this multiplier scaling? That would be disingenuous tbh. 
 You're arguing with LN developers. Not me.

A meager linear increase isn't scaling. Nowhere close to a "scaling solution". LN isn't able to onboard even a fraction of the world.

LN doesn't even work in high fee environments (the future of Bitcoin). We get a taste of this every time blocks are full like recent ordinal craze. And that was nothing.

What happens when your channel is forced closed in the future and you're back on chain again? The frequency of this and value lost increases the more popular LN gets.

Channel Force Close Bot
https://coracle.social/npub169n9eaf0t20j0nefwqlqtnqcpsym22k2nw6e3tevtrrru4et7wrsh5w47v 
 By not actively pursuing global adoption and not having wizards, contracts, images and data being inscribed on-chain. A pure peer-to-peer censorship-resistant digital cash system that already scales for its planned use case 
 It doesn't scale, so there's that.. 
 Monero transactions offer the most cost and space-efficient transactions, at 1,419b in size with a median cost of $0.056, support the most Bitcoin-weighted TPS when comparing “reasonably private” spends with 2min blocks and an initial median of 300KB and a hard cap of 2x median, and lowest chain growth of 0.46GB/d. Monero has significantly shown to scale better than every other alternative as transactions [0] and adoption, notably dark market adoption [1] continue to increase.

All data is available at https://sethforprivacy.com/posts/comparing-private-spends/#results
[0]: https://moneroj.net/translog/
[1]: https://moneroj.net/dread_subscribers/ 
 That's because no one is using it. If more people would use it, you'll run into problems fast. 
 What problems? 
 It can't scale. 
 You said that already, you said it can't scale so if people tried to use it you'd run into problems. What problems? 
 It will become unusable and centralized as it can't scale. That's obvious, no?

https://nitter.net/giacomozucco/status/1749150808782839895#m 
 "Nooo you can't look at literal adoption charts and metrics like https://moneroj.net/dread_subscribers/ or https://moneroj.net/translog/ to form opinions. You must listen to what podcast influencers, non-developers, non-FOSS advocates have to say"

https://image.nostr.build/5556ec4e8ddfb30ac082707f2a664f5b7742a0a94113aa4a298f43778c844dc5.jpg 
 So that's like what, some tens of thousands of users? That's cute. 
 Very big anonset also lol. 
 No it's not obvious, I'm trying to understand exactly what you'd expect. You already linked to that tweet.

I'm beginning to think you don't know what you're talking about. You keep avoiding answering my questions and just say "it can't scale" but that tells me nothing except your preference. If I were new to all this stuff and curious asking you what I'm asking you, your responses would lead me to distrust you. You should know the details of what you're talking about if you intend to talk about it. 
 Yeah... As someone who is considering being an Uncle Jim for his family, I have to say that I considered going the eCash route, but decided against it 

If they lose their phone they are SOL unless they know how to create a backup of their tokens, which defeats the purpose of being an Uncle Jim for the less technically inclined.