0 sats \ 4 replies \ @kristapsk 1 May freebie \ parent \ on: if bitcoin became illegal by law (part two) Personal_Finance
Have you ever heard of coinjoins, Lightning Network and OTC non-KYC P2P Bitcoin vs fiat markets? You should read more about Bitcoin privacy. Bitcoin is not perfectly traceable and has never been. Chainanal companies are often selling snake oil.
Chain analysis will never be able to know who, what, amount of funds to track XMR.
Actually, not true. XMR has good onchain privacy, but it's also not perfectly private. Ledger is public, just ring signatures creates a lot of potential possibilities by default and confidential transactions make amounts private. Also, your total crowd where to hide is smaller for XMT compared to BTC, because total number of Monero users is a lot smaller than total number of Bitcoin users.
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10 sats \ 2 replies \ @Hamstr OP 1 May
They use 16 ring CT (last I check, been awhile), and are likely to expand as needed. And it's relatively liquid like BTC. You're wholly reliant on coinjoin? How many wallets, websites, exchanges, and swaps have banned in USA, UK and other countries? Also, you're relying on the lightning network.
Besides, you interpret that every normie, grandma, mom, dad, friend understands privacy. iOS is still the most sold phone.
I'm not trying to debate here, because you're already set in your ways. Everyone is different- and thank god we all are. It would literally suck if everyone thinks the same.
I'm merely fascinated
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10 sats \ 0 replies \ @kristapsk 1 May
it's relatively liquid like BTC
Disagree, I can always find someone in a few hours in my city to exchange BTC for cash or vice versa, not so with XMR. Only thing that has similar liquidity in these markets besides BTC is USDT on Tron.
Exchanges that will not allow deposits from coinjoins will ban Monero first.
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0 sats \ 0 replies \ @yo2xncv0 8 May
That's correct. With Seraphis full chain membership proofs++ coming down the road this will increase to the entire chain. Something like 100,000,000 potential transactions you could have sent from. Insane.
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0 sats \ 0 replies \ @yo2xncv0 8 May freebie
Ring Signatures only apply to senders and grow exponentially with every transaction you make (and are randomly chosen for) 16^N, N=number of transactions. At N=3 you already have an anon set of 4,096 and that grows over time without any further input required from you.
Receiver anon set is every Monero user that has ever existed thanks to Stealth Addresses
For Bitcoin both your sender and receiver anon set is only as large as your coinjoin peers and very few Bitcoiners coinjoin let alone every transaction