I love bitcoin, however i see privacy as the #1 concern going forward.
Monero is quietly gaining lots of adoption on websites, services, exchanges, dark net markets etc.
Most of the truth & freedom movement appear to recommend it over Bitcoin.
Node count has passed BTC and mining hash rate is growing rapidly as you don't need an Asics, just your PC.
To me it seems Monero is something that should not be ignored.
Also scaling is another issue, Bitcoin fees are 1000x Monero fees.
There's no reason why you can't Coinjoin/Lightning your UTXO's in conjunction with Monero - it's a good privacy tool and supplement to Bitcoin IMO.
Thoughts please. I want some honest opinions here.
Even with all these and more supposed advantages of Monero over Bitcoin, I will still choose the later. A lot of projects have been developed with some claiming to be able to solve the scalability trilema that is attributed to Bitcoin but none have been successful in achieving this. There was a time ripple prided itself as being able to achieve this until time shows that ripple might be heavily centralized. I believe with time, the weak side of this major contender will also surface and it will become obvious that Bitcoin will always be the leader.
Nothing is perfect, but Bitcoin is unique in many respect. This argument of Monero is coming up again because of the high fees of Bitcoin which is a consequence of Ordinal attack on Bitcoin Network. "This one too shall pass"
I used to think this, however I've realized people are mostly lazy & not very bright. privacy by default & even some degree scalability by default are a must on chain. lightning is a good little tool for more advanced users. I've had a few issues myself lately routing and making payments, I've nearly lost funds too (i know many have).
I understand wallet GUI is improving everyday & it's getting easier to obtain privacy, however it's race against CBDC's & Monero.
High fees are great for chain security and miners, however the little guys gets screwed and majority of masses are the little guy. 5-10 dollars per tx is too much. Even when you use lightning wallet, you either pay to open channel or you sacrifice privacy and security. lightning still has lots of privacy issues too.
Monero is quietly gaining lots of adoption on websites, services, exchanges, dark net markets etc.
Are you sure it is getting a lot of adoption on exchanges? Because I know there's a lot of DEXes that are supporting Monero, but it seems like centralized exchanges are rushing to drop it like a hot potato (because "money laundering" and "crime" and ... you get the idea).
You are right that Monero should not be ignored though. Both of these coins solve different kinds of problems.
I don't even use CEX's so I didn't consider even them lol. I meant on swap sites, P2P platforms (Bisq), DEX's, atomic swaps etc
Indeed Bitcoin is more like gold SoV and Monero is more cash. Lightning adoption isn't going anywhere by the looks of it. Coinjoin is expensive in high fee environment as and not really that private. In the mean time Monero is cheap & easy & does give you ample privacy. government don't like it, so there's your proof it works.
