20 sats \ 4 replies \ @Zepasta 2 Sep 2023 \ on: I think that Simple Swaps BTC->XMR->BTC are better than mixing. Change my mind bitcoin
Why would i swap the ultimate apex asset for a shitcoin? XMR has better privacy BY DEFAULT, but it's still a shitcoin, it's not transparent, we have no way of knowing if there are inflation exploits. I think On-chain BTC → L2 Lightning → On-chain BTC is good, mixers aswells, we don't need XMR.
I wouldn't personally mix using XMR, but I don't feel like the knowledge of whether there's inflation matters if you're purely using it for privacy and swapping back
reply
My choice always will be Bitcoin, but XMR is a tool with features we need in BTC,
Regarding a inflation bug... Did you know we had two on BTC, one exploit in 2010 but there has never been one exploited in XMR?, here the information:
BTC
- 🔴 The CVE-2010–5139 bug on August 15th, 2010 resulted in 184 billion BTC being minted. On the heels of this event, core developers Gavin Andresen and Satoshi Nakamoto had to roll back the blockchain in order to purge this transaction from block 74638.
- 🔴 More recently, on September 17th, 2018, the CVE-2018–17144 bug was discovered by a Bitcoin Cash (BCH) developer who selflessly took action before it could be exploited by a bad actor.
XMR
- 🔴 2017-02-19: A member of the Monero Research Lab discovers a potential exploit, triggered by a detailed discussion of the XEdDSA signature schemes on the Curves mailing list
- 🔴 2017-02-20: The Monero blockchain is scanned to see if this had ever been exploited; thankfully it had not and the blockchain is intact.
Regarding your idea BTC->LN>BTC, not ideal for privacy yet, if you are doing it right you own your own LN node and the receiver is exposed. Last but not least, if the transaction is for thousands of dollars or millions you won't have the capacity in the channels, on chain BTC>XMR->BTC does the trick with low risk and low cost. Yes doesn't feel great to be using an alt coin but for privacy reasons is worth it
reply
deleted by author
reply
My research tells me otherwise, XMR code and development is more scrutinized nowadays than ever, additionally the development is crowdfunded, I do not hold it or transact with XMR, I am a BTC only person, but the research I have done depicts a strong community well organized and open source. I have done extensive research once I read a paper from Samourai Wallet explaining their reasoning for atomic swaps to gain privacy in BTC
reply