Oddbean new post about login | logout Yeah, I'm not monero maxi, but Bitcoin will be useless without privacy in the future. When they start taxing high amounts and unrealized gains on Bitcoin, the fun and games will be over no matter how hard someone stacked.
Lightning is much more private than Monero, ARK much more than Lightning.
That is huge cope. Just take your Bitcoin off of the secure L1 and risk saving it on Lightning for privacy? Literally NO ONE has ever done that and will ever do that. Might as well throw away your seed phrase in that case.
In the future not everyone will have the right to use layer 1, ARK for example offers privacy by default and without custody, also because of its architecture you can have hardware wallets in the absence of solving the problem of the rounds with the notes. With bitcoin L1 you can use coinjoins and get the same or more privacy than with Monero. On the other hand Monero is not scalable and its dynamic block size equates to losing decentralization if it were to be massively adopted.
"In the future not everyone will have the right to use layer 1" Brilliant. The resounding success of "sound money" - accessible to the privileged alone, afforded none of the benefits of security as a tradeoff of percieved anonymity. Have you ever run a lightning node? "With bitcoin L1 you can use coinjoins and get the same or more privacy than with Monero." Samurai says hi. Coinjoins will be eliminated in the process, they already are working on getting rid of them and jailing anyone working on them. You seem to spend a lot of time attacking Monero. Why are you so concerned about it if it's not scalable, not decentralized and keeps losing value to Bitcoin? Do you think this is an effective strategy to win over people who value privacy as a defence mechanism against the state?
I don't care about Monero, it is the followers of Monero who have constantly attacked me and as I see where you're coming from I'll leave the conversation here.
And by the way, you lack knowledge about scalability of blockchains to speak with the haughty tone you speak, ignorance is very bold. https://primal.net/e/note12v95j76tde5a3uzve2mpdza07qd2e4m9jlet88ngg4zj0kzyuzns69ncdm
So you haven't run a Lightning node, have you? Pretty ballsy speaking about something you don't seem to have experience with. I'm being pretty candid in my arguments here. I didn't mention scalability. You are being short-sighted in an attempt to win an argument that doesn't really need to exist. Maximalism is toxic, be it monero or Bitcoin. Stay humble or get wrecked.
Just wanted to say MimbleWimble and Nano are very scalable blockchains. So not all blockchains. Although some may disagree with the tradeoffs they make.
explain how you know this please. in fact please explain how ANY end user can evaluate the privacy guarantees they achieve in a specific LN txs I'll wait. because you cant and your statement isnt based on anything but a theoretical "an L2 could *maybe* be more private because of no on-chain footprint"
Lightning is not anywhere close to as private as Monero. And I hold both Bitcoin and monero. I think they both have a use.
But why HOLD monero? Why not just use it for private transactions? Is the privacy worth the haircut?
Unrealized gains tax is not gonna happen, no shot
I think it is highly unlikely, but it depends on how desperate they and their situations get. Remember when Greece reached into people's bank accounts and took their money? Same same
I suppose that’s why self-custody is such a blessing
Self-custody didn't help BTCSessions from the government kicking down his door and taking his keys. You need anonymity + privacy to have max resistance to confiscation.
What country did that happen in? I’m not familiar with him
Aftermath of the Canadian trucker protests. I misremembered though. It was actually his friend who was raided not him. Nonetheless Bitcoin keys were taken by the government. He talks about what happened around 42:00 https://www.youtube.com/watch?v=IGnOz7KlUbg