123 sats \ 2 replies \ @kepford 26 Oct 2023 \ parent \ on: Bitcoin maximalists: Do you believe that competition leads to quality? bitcoin
Monero is at least trying to solve a real issue. IMO bitcoin's biggest weakness is privacy. However, this is NOT the biggest problem bitcoin is seeking to solve. I cannot see Monero becoming the worlds money. At best, it could be a commonly used tool. It is entirely possible that Monero or other privacy projects will test and show methods that can be adopted by bitcoin in the future. That's my two sats.
Yeah, bitcoin is not private or even pseudonymous really. Not even if you use a new address for every payment.
I can mention as well that Monero is only optionally anonymous. You CAN choose to set your ambiguity low and have public transactions like bitcoin, you can also prove you sent a transaction, received one, etc, all without revealing anything about anyone else.
Bitcoin and Monero are both solving the same problem: Creating trustless distributed ledgers. There are no smart contracts in monero. There's nothing but improvement to the outdated technology of Bitcoin, mainly anonymity, but also the inflexibility of bitcoin. Monero is designed around the idea that adapting to your environment quickly makes you more resilient. They use blockchain tech in order to prevent malicious protocol updates.
I feel like I'm shilling monero here. But what I'm trying to do is demonstrate that blinding yourself to competition leaves you in the dust. I label it Bitcoin Luddites. :)
I own no cryptocurrency myself. I don't care enough about money to make the investment. So I'm not trying to "get people to buy into monero". There are many flaws, as linked above.
I can also disclose that I have good reason to prefer xmr over btc, anecdotally. I was the subject of a criminal investigation because they were able to trace me through bitcoin network analysis, and link me to my real identity. This is not possible with XMR. So I'm biased. Thanks for engaging!
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Honest and fair enough
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