Oddbean new post about login | logout It's not, but it's considered a privacy coin that supposedly has more privacy than btc.
Only the maxiest of maxhards will say it's a shitcoin. But they will agree its not bad out of all the shot coins. It's just not *their* chosen currency.
only people who don't understand that lightning uses onion layered encryption like Tor does think that bitcoin doesn't already have an answer to monaro
you forgot to mentioning for opening or closing a lightning channel you need to make a transparent on-chain transaction on the bitcoin network. + it doesn't works for large transactions, good luck to find an anon lightning route who let you move let's say 0.5 btc in one transaction if you have to..
lol, yeah, i'm sure literally dozens of people need to send half a bitcoin on a yearly basis at all lol
also, money comes in, money goes out, when and where and from who, only you and the sender knows, the intermediaries know as much as middle hops in a tor circuit i don't sneer at monaros for nothing, you guys literally don't understand how lightning works or how actually most people use money
The few people who can and want maximum privacy will probably use Monero.. the ones who doesn't care send it to big exchanges anyway.. Even 0.01 btc can be a problem with some lightning wallets. Most of the large capacity lightning nodes are custodial or running by a kyc exchange like bitfinex.
this is the new cult of monero narrative now "but we need to be able to pay of the value of an average car like maybe once a year, but muh monero" lol payments that size are usually for stuff like a whole car or a small piece of land everything else can be moved around in small amounts and you can use tor and only ever make spends or give addresses to send to via tor you have to do that anyway even with monero, even if there is obfuscation about the payment when it appears on chain the use case just doesn't exist for monero, and you'll eventually figure that out when it goes to zero
I said this amount as an example, but it's also true for 0.01 btc and it's not an incredibly uncommon amount. What i mean is that lightning with its privacy works for microtransactions, for anything other than that you have to go on-chain with some tradeoff on privacy. With monero, whether it's a micro or large transaction, privacy is on by default on-chain.
Bitcoin isn't private at all. Which is why Monero is useful. It is still a shitcoin. Just a useful tool used in a wallet like Cake
True. It's all about the ways it's used.