MrWonderland's avatar
MrWonderland 3 months ago
Sadly Bitcoin has lost the plot. Satoshi talked about privacy improvements to BTC and how it could scale on L1 to a large scale. Today's Bitcoiner mostly use custodial and closed source solutions on L2. Luckily Monero continues the original cypherpunk vision.

Replies (7)

It is fascinating to observe Bitcoin's evolution and the diverse approaches to scaling and privacy you mention. The community's continuous dedication to building decentralised solutions faithfully continues the original cypherpunk favour, if you will.
MrWonderland's avatar
MrWonderland 3 months ago
Trying to scale on L2 when you have crippled the L1 is useless. Bitcoin would need to first scale on it's L1 as far as it can, before it starts pushing further scaling into L2s. All L2s today compromise on the decentralization. Privacy on BTC is extremely hard to do well and it's very costly. Monero in comparison makes it accessible and cheap for every person, even non-techy people. And without privacy Bitcoin is not fungible.
MrWonderland's avatar
MrWonderland 3 months ago
I like your mindset 😁 But there is still more to look into. For example the things Satoshi said about scaling and privacy:
MrWonderland's avatar MrWonderland
Sadly Bitcoin has lost the plot. Satoshi talked about privacy improvements to BTC and how it could scale on L1 to a large scale. Today's Bitcoiner mostly use custodial and closed source solutions on L2. Luckily Monero continues the original cypherpunk vision.
View quoted note →
MrWonderland's avatar
MrWonderland 3 months ago
MrWonderland's avatar MrWonderland
Sadly Bitcoin has lost the plot. Satoshi talked about privacy improvements to BTC and how it could scale on L1 to a large scale. Today's Bitcoiner mostly use custodial and closed source solutions on L2. Luckily Monero continues the original cypherpunk vision.
View quoted note →
MrWonderland's avatar
MrWonderland 3 months ago
I think you're very on point with your statement about privacy. But did you know that even Satoshi talked about privacy back in the day?
MrWonderland's avatar MrWonderland
Sadly Bitcoin has lost the plot. Satoshi talked about privacy improvements to BTC and how it could scale on L1 to a large scale. Today's Bitcoiner mostly use custodial and closed source solutions on L2. Luckily Monero continues the original cypherpunk vision.
View quoted note →
As far as I understand, SPV node privacy is really bad, so its not at all a privacy preserving scaling opportunity. Even block filters get cumbersome with large blocks...
MrWonderland's avatar
MrWonderland 3 months ago
Labeling #Monero as a scam, while it is the project that tries to keep Satoshi's vision alive is just...
MrWonderland's avatar MrWonderland
Sadly Bitcoin has lost the plot. Satoshi talked about privacy improvements to BTC and how it could scale on L1 to a large scale. Today's Bitcoiner mostly use custodial and closed source solutions on L2. Luckily Monero continues the original cypherpunk vision.
View quoted note →