40 sats \ 2 replies \ @joda 15 Jun \ parent \ on: What are your thoughts on Bitcoin losing the Darknet bitcoin
I really wish you could just be straightforward and tell us what's on your mind. Really, don't hold back.
Every crypto is like that-- every forum and sub is just an echo-chamber of moon-sooners claiming to be better than Bitcoin. Seriously, Nano and BCH and BSV think they're gonna replace Bitcoin.
The market has spoken. Bitcoin won. Yeah it's not great currency, but apparently the world wants a store of value and credit cards are good enough for payments.
Silent payments will be great, sure, but it's been at least a couple years and we don't have them yet. I believe there is also a liveness requirement, which can be burdensome and will probably end up requiring some sort of trusted provider.
The darknet markets have spoken. Monero is winning.
All white market transactions are permissioned. Bitcoins entire value prop rests on being permissionless. Regulators can impose any arbitrary restriction they want on white markets up to, and including, banning Bitcoin.
Silent Payments on Bitcoin is an improvement but the concept itself is old and not that great in the grand scheme of privacy tech especially when used on a transparent chain. Counter party can still naively determine what address their money went to and follow it from there. Even third parties can figure it out if they get their hands on any combination of time, amount, sender address.
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