/biz/ - Business & Finance

>>28849579
>BTC is the most conservative, most carefully devloped.
>It is ASIC PoW (need to dedicate to it).
>Has LN.
>
>Most recognized.

So why is it getting replaced by Monero where fundamentals matter?


>BTC has coinjoin now, and coinjoin+bullet proofs in future.

Unfortunately, its not going to be enough:

>Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos

In a livestream Q&A on Antonopoulos’ YouTube channel on July 7, he said Bitcoin (BTC) was unlikely to ever implement privacy features similar to those used by Monero (XMR).

Antonopoulos said creating such features on a cryptocurrency like BTC “would create an enormous amount of controversy.” In addition, he said the structure of Bitcoin simply doesn’t allow ring signatures and stealth addresses.

“I think what we’re going to see soon is Schnorr, Taproot, and Tapscript, which open the door to a lot of improvements,” Antonopoulos said, “But they still do not involve zero-knowledge proofs or the types of ring signatures and stealth addresses that are done in Monero. Bitcoin is not a privacy coin.”

Bitcoin can be better thought of as pseudonymous rather than fully anonymous, as many transactions on the BTC blockchain can still be traced even with these privacy improvements.

>https://cointelegraph.com/news/bitcoin-will-never-be-truly-private-says-andreas-antonopoulos

>>26117607
>you never heard about taproot have you?
>bitcoin pretty much made monero obsolete and you guys never got the memo.

Apparently neither did the darknet, they're still dropping BTC like hot potatoes.

It seems the BTC folks don't fully grasp just how technically superior Monero's privacy is and think Taproot or MW can compare. Optional privacy bolted on top of a public ledger will never be as reliable as fundamental privacy built from the ground up.

If your freedom depends on it, you'll use Monero. So now you know why its replacing Bitcoin.

>>26025304
>bitcoin is gearing up to be a global reserve asset.

Fungability matters if you're aiming to become a global reserve asset. This fact will become starkly apparent once atomic swaps are up and running and tainted Bitcoin starts flooding in, virginal BTC will start being prioritized by XMR holders essentially creating two tiers of Bitcoin: clean and dirty, with the dirty variant being valued less and premiums being charged for its acceptance. Meanwhile, 1 XMR will always = 1 XMR.

The fact that the US govt maintains a blacklist of tainted BTC addresses that is consistently expanding is frankly quite unsettling, never knowing if the BTC you receive will end up being blacklisted at some point will not sit well with people.

>I'm bullish on bitcoin privacy techniques too, but that's a longer discussion

Optional bolted-on privacy added as an afterthought will never be as reliable as default privacy built from the ground up. It might be "good enough" privacy but it certainly won't be "the best possible" privacy, so if your freedom depends on it you'll still use Monero.