Oddbean

Today #monero dropped like 10+ ranks in shitcoin marketcap. It's now at rank 38, behind shitcoins that you never heard of, making it even more evident how insignificant and irrelevant the #XMR is. If you're still holding that melting cube, HFSP.

Most self-proclaimed #bitcoiners, especially on Twitter, don't actually understand #bitcoin. They just want to get rich quick. They are essentially traders who also hold stocks and other "investments" for "risk allocation". They will be the first ones to sell back to fiat. Genuine bitcoin maxis are scarce, scarcer than bitcoin itself.

There is no "you guys". I don't belong with all those fake #bitcoiners, so don't group me in with them. I am my own person, unique and distinct. Take a look through my feed and find one post where I talked about ETF listings or fiat prices. The only thing you'll find is me criticizing others for being obsessed with those things and urging them to break free from fiat mindset.

Getting rich quick is not the reason i hold #bitcoin. Not wanting to get poor quick is the reason why i don't hold #monero (or any other shitcoin). You may need to read this a few times to understand its meaning.

https://iris.to/note1fr4qmweqpkt5q94wevr3cmceeuvydv4ygvhcrhqe8q0src85p7xsrsmns2 https://iris.to/note1jues9eacpcrvcsw50xl6kgwplezs5gu3a0w3sv3knpnruqnteruq0hcsy7 https://iris.to/note1afgl9dawl9g6u046uw26grqazxmeppsckk7uzqag6r07rkkpjdysfrp4ze

Last i checked it was called cryptoCURRENCY not cryptoINVESTMENT. What do any of those other coins actually do? Monero is one of the only coins trying, and succeeding at bring a currency. If you want to invest in something why not buy stocks that actually are part of companies that do something instead of random coins that do nothing? Hopefully im just falling for a joke hear but if not absolutely garbage take

Your shitcoin currency is losing value faster than fiat. It's hot potato money. I know it, you know it, the market knows it. #sats over #lightning or #liquid is succeding as currency for small payments, #xmr is not. I don't care about ETFs, stocks, or Bugattis. The greatest investment you can make is in yourself.

Why the hostility? Losing value != useless. The usd loses value all the time but it is still effective as a medium of exchange. I agree lightning is successful as well but nowhere does bitcoin beat monero in privacy of transaction. Why the fixation on price?

I would argue that bitcoins price is its biggest problem. Because the exponential increase in price and invitation of speculators and investors has led to the centralization of bitcoin. And its lack of ASIC resistance just further exacerbates that issue.

Don't make me pull up the early 2022 Bitcoin chart. Can't handle the volatility get out the kitchen. LN and Liquid have trash privacy and even trashier adoption. No one wants to use it unless it's custodial. And DNMs won't touch the stuff.

Your statement is completely irreleveant, you nailed that one. Monero is not full of ups, and so is not Bitcoin. Have you considered Bitcoin as hot potato money when it dropped from $60K? I'd have laughed.

My statement being irrelevant is not the point. The market has made its decision, just check the XMR/BTC graph. Every year that passes, #monero loses, not only to #bitcoin but to other shitcoins aswell. Not hating on you, in fact, what hurts me the most is that the Monero community, unlike other shitcoiners, comprises of smart individuals who value #privacy and #freedom. Unfortunately, many become blinded and turn into maxis, constantly hating on #btc and refusing to acknowledge that #xmr is merely a privacy tool, a pseudo-L2 for Bitcoin and nothing else. It's a hot potato, where users constantly atomic swap to and from Bitcoin. No one wants to hold it medium-term, let alone long-term. And no one accepts it as a currency besides few privacy services. It has failed both as a store-of-value and as a currency. It's actually easy to catch Monero maxis here on #nostr, they don't even bother setting up a Lightning address to receive zaps. They also think Monero will catch up to Bitcoin in the future, it won't. There is no second best. You can Bitcoin, or you can lose (with Monero), but at least you lose privately. On-chain mixing, #lightning, #liquid, and eCash offer enough privacy for the majority of people. Unless you are into shady darknet markets, there's no need for Monero. This is probably my last time answering about Monero-related topics. Bees don't waste their time explaining to flies that honey is better than shit. Best of luck to all Monero holders, I hope they can weather the storm ahead and jump ship before it's too late.

Truly seems ignorant. Bitcoin was expected to be private enough back in 2009. Today is well-known that isn't the case. It is a nice virtual coin to play casino and other games, but isn't a crypto currency since many years. Just a reminder that the Latin meaning of "crypto" means "hidden", "private". Nowadays that is best represented by Monero which is the reason why we keep using it.

Lightning is non-existent on Darknet Markets for good reason. It isn't completely private. Even if you run your own node and aren't on custodial wallets or LSPs like 95% of users (almost no privacy) - Receiver privacy is terrible, and hidden balances can be discovered by probing. Opening and closing channels also leaks data on chain.

All depends. First step is always running your own lightning node (which the vast majority don't do). But even after that there are a lot of caveats. Here are a few links with the technical details: bitcoinmagazine.com/technical/state-of-bitcoin-lightning-network-privacy https://abytesjourney.com/lightning-privacy/ https://github.com/lnbook/lnbook/blob/develop/16_security_privacy_ln.asciidoc#attacks-on-lightning https://lightningprivacy.com/en/introduction "We identified 27,183 private channels, discovered hidden balances, and showed how a passive adversary can infer payment endpoints with very high probability." https://arxiv.org/pdf/2003.12470.pdf

It's not called crypto because the transactions are hidden. Encryption is used to ensure only the coins owner can spend them. Bitcoin was never private. In fact the opposite it is a "public ledger" Monero is private and meant to be, which is why governments are clamping down hard on it. While I'm a Bitcoiner, I do think privacy coins are important and should be supported as a government resistant payment layer.

Who told you "Bitcoin is private"? Why all these strawman arguments?? It's a **public** ledger. A **straw man argument**, sometimes referred to as a **straw person argument**, is a **logical fallacy** where an individual distorts an opposing position into an **extreme version** of itself and then **argues against that exaggerated version**. Here's how it works: 1. **Distortion**: The arguer takes the opposing point of view and **strips it of nuance**, often **misrepresenting it negatively**. 2. **Extreme Version**: They create an **imaginary caricature** of the opposing argument, making it **easier to attack**. 3. **Avoiding Nuanced Debate**: Instead of engaging with the actual argument, they **focus on this distorted version**. Imagine arguing with a scarecrow: you can make any argument you want, and the scarecrow won't argue back. By positioning the scarecrow's argument in a way that suits you, you create a straw man. It's like arguing against an imaginary opponent, making your own argument sound infallible. However, this fallacy avoids addressing the **relevant components** of the opponent's position¹²³. So, next time you encounter a straw man, remember that it's akin to battling a scarecrow—an illusion that lacks substance. 🌾🤔. Source: Conversation with Bing, 15/02/2024 (1) What Is a Straw Man Argument? Definition and Examples. https://www.grammarly.com/blog/straw-man-fallacy/. (2) What is a Straw Man Argument? - Language Humanities. https://www.languagehumanities.org/what-is-a-straw-man-argument.htm. (3) Definition and Examples of the Straw Man Fallacy - ThoughtCo. https://www.thoughtco.com/straw-man-fallacy-1692144. (4) What Is Straw Man Fallacy? | Definition & Examples - Scribbr. https://www.scribbr.com/fallacies/straw-man-fallacy/. (5) Strawman Arguments: What They Are and How to Counter Them. https://effectiviology.com/straw-man-arguments-recognize-counter-use/. (6) en.wikipedia.org. https://en.wikipedia.org/wiki/Straw_man.