Damus
Cyph3rp9nk profile picture
Cyph3rp9nk
@Cyph3rp9nk
This message is something that both the Bitcoin and Monero communities should do; it's called honesty with oneself.

I think it's silly to fight among ourselves in the times we live in; our enemy is the government, not us.

My criticism of Bitcoiners, as I've said in messages weeks ago, is that Monero has beaten us in the black markets and even in internet commerce. Their community is doing things better than us, including avoiding spam on the chain (mordinals).

My criticism of the Monero community is that I don't think they have a constructive attitude. Their developers may, but their users do not, and they do not accept technical issues that are mathematical certainties.

I spent all night analyzing the privacy benefits of Bitcoin (Lightning) and Monero, and these are my conclusions, mixed with other inevitable facts. I am only going to present facts, not interpretations.

Bitcoin:
- Limited supply
- No risk of hidden inflation.
- Hash power, not even a state can attack it
- Not private by default
- Coinjoin is not fungible, transactions are easily traceable
- Very scalable through L2 without losing decentralization.
- Highly decentralized
- LN is very private when sending without extra configuration
- LN is not very private when receiving, extra configuration is needed
- LN leaves no records on the chain, and information tends to be lost over time, such as node logs, connection records, etc., but you still need to be aware of these records left by the use of LN.

Monero:
- Unlimited supply
- Risk of hidden inflation
- Low hash power, a state actor can easily attack it.
- Not scalable without losing decentralization.
- Very private by default.
- Everything stays on the blockchain, a bug could lead to future de-anonymization attacks.

Monero's main advantage is privacy by default, although you have to take network-level privacy into account, which is dangerous if you don't use your node.

And for my part, I'm burying the hatchet. This is how it is: neither Bitcoin nor Monero is perfect. Monero cannot replace Bitcoin because it is not the same, and neither can Bitcoin replace Monero.





187❤️19❤️3🤙2🫡2:NICE:1:eyes:1
uncleJim21 · 6w
Good write up and fair points. 1. In your estimation who balanced the design trade offs better? 2. Where do you see things going in the next five years for each project?
Achilles · 6w
Beautiful. Thank you Satoshi for proving that decentralization, security, and scalability can only coexist when truth is built in layers. https://blossom.primal.net/c3d3c18110d82bed122500d4635afc961bbbc8244d157777bab9993ff538ac00.png
Papa Figos · 6w
while nostr:nprofile1qqs0hwlherchk7je5xu4tumrjwdhf4wd086j244vkpcjee8nhswv5jspz9mhxue69uhkummnw3ezuamfdejj7qghwaehxw309aux6u3ww4ek2mn0wd68ytn0wfnj7q2ywaen5te0dau8gunyv4mxza3kx3arvdrevgmhsdnjdfnngmn50fck56r9v3kn2c340f48zatvw4nkkmng0fergdnw0ye8zcnpvshx7mnfdahz72msm72 brings up many points worthy of con...
FrankLee Speaking · 6w
Great post . My issue has been with maxis of either side. I think there's a lot of closed mindedness and arrogance when in reality none if us know for sure how the future will play out and what we will need in the future. Its good not to put all our eggs in the same basket. Bitcoin, monero, gold,...
DagzTagz · 6w
Correct
Hanshan · 6w
The obvious problem here is that you're comparing an L1 and an L2 without including the obvious user difficulties in running their own L2 infrastructure.
U-P-G-R-A-Y-E-D-D · 6w
Commentable growth
FREEDOM · 6w
Hard money and private spending solve different problems. Pretending one must annihilate the other is the real mistake.
2Pac · 6w
Imagine if both communities realized they were on the same team. And you can use both.
Kayne · 6w
Glad you've finally come around
Skinkha · 6w
Each one must be their own maximalist.