Topic: Bitcoin Vs Monero - Privacy as the world becomes more dystopian - page 4. (Read 2044 times)

What? Why does ETH need Ordinal technology of all cryptocurrencies? It already has smart contracts, what the hell, it already has NFTs so this kind of thing is just bloat for the network.

It looks like people are trying to spam all the networks by using these projects for storing useless crap purely in an attempt to earn more money.

I meant to say 3 years, which is the default shown when visiting that page. That's still quite a long time without significant growth.


The claim that Monero has more nodes seems to be based on the Monero.Fail website that includes older data which is why I believe they are cherry picking an inflated number.
https://www.reddit.com/r/Monero/comments/olb651/monero_nodes_15k_bitcoin_nodes_13k/

That's partly because Monero is an inflationary currency (tail emission/eternal 0.6 XMR block subsidy), unlike BTC which is destined to become deflationary.

I've seen Monero's transaction volume range from 3% to 20% of Bitcoin

https://localmonero.co/blocks/stats/transaction-stats

https://ycharts.com/indicators/bitcoin_transactions_per_day

A lot of Monero's transactions are used for real commerce on dark net markets & now a bunch of websites - marketplaces, gift cards, internet services (VPN providers), esims, online shopping etc. See here kycnot.me

Bitcoin has a lot of the same sure, except it's used as gateway from fiat, so there's a lot of transactions that are just moving money, not spending.

Monero is being spent a lot, it's not a hodl culture. Spending is ultimately how we win. It's real adoption.

The demand for privacy is clearly growing, on every level. I've never seen so many people have degoogled phones, ditch their surveillance apps, software, operating systems.

Monero is the better option IF you need Privacy.

The two Coins will have a difference in how adoption and acceptance works however.

Bitcoin will become more accepted the better ways Authorities find to trace you and your history.  So while Bitcoin will become more accepted there will be an enforced Centralization and Surveillance.  A 'Second Layer Centralization and Supervision' if you will.  But Bitcoin owners will become increasingly aware of Monero and many will take what Authorities say for granted.  I expect there will be news sounding like 'Bitcoin is much better than Monero' once adoption levels increase substantially.  Anyway.  Bitcoin owners will be for the most part the normies.

Monero will become more accepted too the better ways Authorities find to trace you and your history.  So while Monero will become more accepted there will be some back lash from Authorities and pretty much most Third Parties who obey.  It will be the 'Underground Currency' if you will.  But Monero owners will become increasingly aware of this and will resort to using mostly Monero only.  I expect there will be news sounding like 'Monero is the favorite Currency for crime' once adoption levels increase substantially.  Anyway.  Monero owners will be for the most part the rebels.

Like it or not.  The society will soon be segregated.  It sounds like these Science Fiction movies but we are almost there.  I do see a very clear line of separation between the two sides of our society already however.  Only for choosing to not have a Bank Account or a daily driver Smart phone I am seen as a non conformist and excluded automatically by society.

Like it or not.  Bitcoin will gain more popularity but will be closer to how Banks work than ever before.  Monero will be the Currency for escapees of society.  Not for crime but for the people who care.  For the people who rather not have any thing than have no Privacy.

Dystopia is here.  Bitcoin will continue to be King.  But Monero will be the King of the Underground.

Everyone can check my post history. I have been saying since 2017 that Monero is the next big thing that happened in crypto world. Monero is the currency that protects our privacy the most but it shocks me that Monero ranks 25th on coinmarketcap. As it looks, not everyone is looking for privacy but Monero will grow over time, people will appreciate the benefits that monero brings. At the moment Bitcoin Mixers are doing their job well, they simply cost expensive because Bitcoin price and transaction fees have increased.

LOL! I'm really not surprised... The first copycat was Litecoin Ordinals (because it also has SegWit & Taproot), then Doginals, then Ethscriptions, then Solscriptions, then inscriptions on AVAX & MATIC... and now Monero. That's the funny thing about NFTs on Monero though: nobody knows when they change hands, and nobody knows who has which ones. Think I'll pass.  

https://mordinals.org/

1.There's no problem having both Bitcoin and Monero in your portfolio. I don't see your question as a "this or that" type of choice.
2.Yes, Monero is more private than Bitcoin, but so what? You could send monero to someone and still get scammed.
You could deposit monero in a centralized crypto exchange or crypto casino and never see it again.
The only advantage of Monero is the lack of transparency of transactions, but you could achieve the same thing by using a trusted BTC mixer.
Monero transaction fees are lower, but I wonder what the tx fees would be, if the Monero blockchain gets clogged with some useless shit like the Bitcoin Ordinals.

As far as I remember, the government is making some huge effort to stop the development of such coins because it has become popular in recent years until they made some action and for some exchanges to delisted them throughout this time since they have the power to do it and they are using it while they can. Unlike bitcoins, all they are doing right now is putting some pressure on exchanges and I hope it won't be getting tight in the upcoming years because we will lose some financial freedom if they continue to tighten their rules in all centralized exchanges.

Your complaints are fair, but they miss a key point: the issue is bad users, not Bitcoin's privacy feature. Should we not consider that most Bitcoin users value privacy for genuine reasons? All financial systems risk misuse, but humans are unpredictable, not technology.

We shouldnt dispute Bitcoin's privacy concept; instead, how can we strengthen ecosystem monitoring and regulation without infringing privacy rights? Blockchain experts, law enforcement, and privacy activists may collaborate. Innovations that balance security and privacy may result from such collaboration. Its difficult, but it protects money privacy and prevents criminal exploitation. Lets not forget Bitcoin's ability to transform financial privacy while solving these issues.

Hmm... I'm not entirely sure about that. As far as we know, Satoshi is 100% anonymous. Does that mean he is linked to criminal actions and should be exposed? There are instances when anonymity is important to non-criminals, for example, whistleblowers both corporate & political. Also protection from government overreach isn't necessarily a bad thing... should everyone who uses bitcoin in Iran, Bangladesh and a few other countries be punished just because its against the law?


No of course not, and the government (US feds, INTERPOL mainly) already have their hands full when it comes to investigating & prosecuting these types of criminals. There are other ways they can be found and tracked than by monitoring their crypto transactions.

Monero is still listed in big exchanges such as Binance, Kraken, KuCoin:

https://coinmarketcap.com/currencies/monero/#Markets

Eventually I expect DEX to become the norm... good luck regulating those!

Yes, financial privacy are important, but there are bigger problems with it that needs to be considered.. if you want to allow that.

We know 100% anonymity is directly linked to criminal actions and we should find solutions to expose criminals and still protecting people's financial information.

Do we want the blood of innocent victims of child abuse or victims of terrorism on our conscience, when people use this technology to pay for child porn or when they buy weapons to kill innocent people in the streets as part of some religious war?

Are you reading this chart the same way I am? 5 years ago there was about 4.1k transactions per day and now its about 26k transaction per day... That's an increase of over 5x. I'd say that definitely suggests adoption is occurring.


These websites are counting different things: the first is active (currently reachable) nodes, the second is total nodes seen within the last 2 weeks.

Daily transaction count for Monero hasn't changed much in the last 3 years. I'm not sure its adoption is going anywhere either.
https://bitinfocharts.com/comparison/monero-transactions.html

For every new merchant that accepts Monero I see two or three that accept Lightning. This is purely anecdotal so I'm not sure which one has the advantage.


Node count isn't a very reliable measure because you can cherry pick whichever source is more favorable to your argument. MoneroHash says Monero has 3k nodes while Monero.Fail says it's 22k. For Bitcoin it's 16k nodes according to Bitnodes and 63k according to Luke Dashjr's website.

However, in reality it is arguable because regulators can crackdown on your business for accepting a cryptocoin that cannot be placed under their surveillance. I reckon to use Monero, you should also be anonymous. This coin is not for legal businesses because it will only a risk to be harrassed by the government. How many exchanges have delisted Monero because of this?

Owners of crypto exchanges are finding American regulators on their backs but I don't see it as a negative development if every CEX delists privacy coins. If they're going to get removed it won't stop swaps ppl are going to be directed to DEX's because privacy coins won't go out of business.

I got to hand it to you. You are not giving up in defending the undefendable. No matter how pointless it is, or the fact that absolutely no one supports the idea of your open-source client using secret findings by a malicious entity that is against both you and me. But it's always good to know on what side you stand.

We have already reached that point, and many popular centralized exchanges have delisted Monero, with others surely to follow suit in the future.

While Bitcoin provides you with a transparent blockchain ledger where everyone can see the transactions but i am afraid that for this to be workable perfectly, we also need a transparent honest world where people may not try to misuse this transparent data 

Monero solves a lot of problems for a common man who needs to hide the transactions from the cruel government system (by the way Satoshi developed Bitcoin in order to have an alternative monetary system not controllable by the authorities but by the people).

We will see CEX stop the support for privacy coins in order to comply with the regulations and this is the same that they are implementing KYC to cope with regulations. Anyways even though no centralized exchange supports XMR. it will still be widely used in the decentralized world.