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12 sats \ 10 replies \ @DarthCoin 18 Feb \ parent \ on: Super Testnet on Lightning vs Monero Privacy (Bitcoin Takeover Podcast S16 E6) bitcoin
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Much has changed since that paper was written.
Crypto is the term we use to refer to the cesspool of millions of cryptographic tokens that are traded on exchanges.
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All of them have a founder or team looking to enrich themselves with pre-mined tokens and/or the ability to issue new ones whenever they want.
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Most of the ones with utility could be better implemented with more efficient centralized databases, but they chose to issue useless tokens instead in order to have exit liquidity.
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Many of them are unregulated, illegal securities issued by companies in order to raise funding, such as CRO and BNB.
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The ones which are similar to Bitcoin, like LTC, BCH, or XMR, they aren't unethical like the rest. But they don't have the adoption required to actually make them valuable. They don't have enough mining or nodes to withstand state attacks. They can't be used at thousands of merchants around the world like Bitcoin can. Bitcoin is legal tender in more than one jurisdiction and held by large institutions and governments. No others are have any of these qualities.
Whatever ALL those are, Bitcoin is not. Most people call all those "crypto". So, even though it sounds weird to say "Bitcoin is not crypto".... I don't know how else to say it. Bitcoin stands alone in its purpose and potential market share (which is bigger than gold, btw). Bitcoin really is not crypto, in the colloquial sense of the term.
We would probably come up with a new word to describe it.... but we already have one: Bitcoin.
EDIT: XMR falls under the "cryptos" which could still be considered somewhat ethical. As such, I do not blame someone who believes XMR is better and is going to win at the global currency game. Believe that if you want. But fucking own it. Sell ALL your Bitcoin. Live on XMR. Shill it. Try to get the world to adopt it. Don't own Bitcoin too because doing so just sours both projects. Pick the winner, feel pride in your choice, and keep learning/reading as much as possible.
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Where do you think Satoshi would land today?
I don't even think he understood the scale of the problems we face today.
I'm currently in the middle of reading "The Book of Satoshi", and I recently finished "Hijacking Bitcoin", so I'm very in touch with your sentiment. If Bitcoin is not threatening fiat currency, then it is not what Satoshi hoped for. I'm with you.
However, there are a lot of small details that still make BTC better overall than any alternatives. I am hopeful that there will be a few more large PR's merged before ossification really settles in. If it becomes clear that BTC has already fully ossified, I might start thinking like you. But the BCH dudes were stupidly early to give up.... XMR people are too. You all think too small. This is bigger than one lifetime. There are certain technical details that we should not forsake just so we can have bETteR PriVacY.
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You all think too small
Monero is literally undergoing the biggest upgrade in all of the history of cryptocurrency. Do you still not grasp what FCMPs++ are capable of? It's literally a game changer for all of the space and for the future of humanity, I'll give a TLDR:
- Decoys stop existing. Monero is no longer "like a coinjoin"
- "ZCash style privacy" is also a term that stops existing. Often people in the crypto space says something has "zcash style privacy" to say "perfect privacy", Monero will have superior assurances and make zcash and its technology, and all other "privacy coins" irrelevant
- By killing decoys, Monero's weakest link gets eliminated, it kills all possible chainanalysis
- CARROT addresses to support a wide range of use cases like PoS validating, administration tiers
- Forward secrecy, for some quantum resistance
- TX Chaining, enables payment channel network designs (like Lightning)
This is not "just better privacy", it adds better usability, layers on top of it for payment processing, etc.
This the exact reason why Monero is the only thing bitcoiners fear... because it thinks too big, and it actually delivers, without a pre-mine or a foundation behind like other cryptos, it's purely a community effort to perfect the protocol design
Even @supertestnet has said that when this is live, bitcoin and LN will not be able to compete... Monero will have zero weaknesses and the only steps needed forward will be achieving full quantum resistance
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This the exact reason why Monero is the only thing bitcoiners fear...
Bitcoiners are fearless. But only the real ones, not the pretendooors
you see why I do not debate with shitcoiners? it's pointless.
I just want you to spend all your sats. You do not deserve them.
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No I will not mute. Muting means you will spend less sats. My goal is to make you spend more sats so you will have less.
and btw Satoshi said: "Bitcoin, THE P2P cryptocurrency" not "cryptocurrencies". Is only ONE, Bitcoin.
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