Monero is interesting, but I dont see it as the solution proponents claim it is. Dynamic block size, tail emissions, frequent forks. Im sure its not quite as private by default as most claim also, Ive heard plenty about those shortcomings
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Thank you so much for all of this information!!!! Yes I've already told them they have to gird their loins and that there is no easy comfortable path it's all going to make their sphincters pucker but that's the price of freedom ๐คฃ
I will look into all you put here, thank you again
Yea it seems too good to be true and if it were true then why is there so much resistance ๐ค
what's wrong with tail emission, dynamic block size and protocol upgrades?
Resistance to Monero comes from two fronts:
Bitcoin maxis who were sold on the idea that Bitcoin will absorb the market cap of all other crypto currencies, and thus Moneros superiority as medium of exchange poses a major threat as medium of exchange is the core value proposition of Bitcoin.
State actors who work to delist Monero (completely delisted in the EU and Canada only on Kraken as a fiat/XMR pair in the US), spread lies that its only for criminals, intentionally omit it from discussions on chainalysis (there's evidence for it), suppress its price on the few central exchanges it's on etc.
Yeah it is kinda too good to be true, but it's mathematically true. Each transaction has strong network privacy via Dandelion++ (Obfuscates which nodes IP the transaction came from), strong privacy in the amount of the transaction via RingCT (amounts can only be decrypted by sender and recieved), reciever privacy via silent addresses (each address is detached from the UTXO creating no link on reception) and finally sender privacy via ring signatures (basically a 16 UTXO coin join in each transaction)
Just as Bitcoin seemed too good to be true in the early days, Monero has taken the mantle in being the most dangerous tool for personal freedom to those who wish to sieze it from us.
Also Bitcoin people told me Monero is done because lightning already solved everything ๐
Yeah that's because they've never analyzed the attack vectors and realized setting up a LND node with channels opened behind onion links and making sure the VPS is paid privately is a giant hurdle and the privacy from LSP or Spark solutions is pretty weak.
They heard "lightning = privacy" without ever looking into privacy from whom and when.
What have you heard?
Decrypt
US Homeland Security Can Now Track Privacy Crypto Monero - Decrypt
The popular privacy coin might not be so private anymore, as CipherTrace claims to have developed tools to trace it.
That's old fud. Nobody that I know of has been able to trace a monero transaction, I've never heard of a traced transaction used as evidence in court.
There are things that must be done carefully though, sure. You must use trusted remote nodes or your own node. You shouldn't reuse subaddresses. Besides that though the rest of it is automated, it's the default.