What's better, using private Lightning channels or using Monero? Obviously layer 1 has to be public, nobody wants to use a private layer 1.
For privacy, there's Lightning.
When you're thinking abou...
With private channels your counterparty can see your node pubkey, onchain UTXOs used to fund the channel, and it's balance. If you trust everyone you're opening channels with, and don't care that they can see that info, I suppose it doesn't matter. But for transacting with strangers it does. It's a trade-off for both.