Is Monero just another shitcoin?
Yes80.0%
No20.0%
10 votes \ poll ended
0 sats \ 5 replies \ @Michelson_Morley 28 Oct 2023
No. Though there are "shitcoin", for instance ethereum, they are so because they aren't real decentralized trustless ledgers. And 95% of all crypto is just made to be scams.
But monero is not shitcoin. It is superior to bitcoin functionally in every way. More trustless because it is more decentralized (how many clients do you think base their nodes on Bitcoin Core? It's like 95%). Why is it so hard and controversial to make protocol updates in bitcoin, to adapt? Because it is centralized. Monero is hard to centralize because it is made using functions that specialized hardware (ASICs) are impractical for. Satoshis wish was "1 cpu = 1 vote". But asics make your cpu worthless. Monero makes mining on a phone no less worth than on anything else with a processor. Monero is intentionally flexible, protocol updates require a long term 51% attack in order to be accepted by the network, Monero is completely (and optionally) anonymous. It's open source.
On monero's website, under research, you'll find the whitepaper that began the project. Youll find beside it a VERY CRITICAL third party review from a mathematician (is a fun read). He still concludes that Monero is incredible technology, and has invented new crypto techniques that are fascinating on their own.
How often do you see a scam, even bitcoin, put a critique of their project next to their description of the project? This is why a lot of devs and mathematicians love it.
The word shitcoin is often used by those who want to manipulate you into "investing" into bitcoin. If you had a lot of bitcoin, would you try to get others to consider the value of any other crypto? It's just scammers. But as I said, some crypto is simply not "true" crypto. Proof of stake is an aristocratic inefficient computer. It's not as trustless as bitcoin.
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0 sats \ 4 replies \ @libertad2cero OP 28 Oct 2023
Bitcoin achieves a perfect balance across the three primary disciplines governing money: a philosophical aspect, a technical aspect, and, lastly, a monetary aspect. Without delving into the technical aspect, which most developers tend to obsess over, there is no doubt about the superiority of Bitcoin in its philosophical and monetary aspects. Bitcoin is multidisciplinary, and this uniqueness often leads many to fail to grasp its full significance, as they focus solely on one discipline.
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0 sats \ 3 replies \ @Michelson_Morley 29 Oct 2023
Haha yeah, us damm developers, always "building all the software I use every day"
in other words, let's not delve into the factual reasons that improve very part of the the issuel, that coins exist that are better than bitcoin on every level even today.
Lets focus instead on undefinable things,like its philosophy. Well actually its easy to define: A trustless decentralized peer to peer ledger". Monero is also that, bit better.
Multidisciplinary? What do you mean?
Out of curiosity, do you hold bitcoin? Like can you give an apptoximate amount (within an order 0f magnitude is fine). I'm asking because the only way I can make sense of this irrational behavior, saying things like bitcoin has good monetary principles, it doesn't matter how it's slower and not private, or that its centralized.
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3100 sats \ 2 replies \ @libertad2cero OP 29 Oct 2023
Sir, I'm surprised by your arrogance. A true Bitcoiner never discloses the amount they hold, but I can tell you that I'm a MtGox OG class. Anyway, don't listen to me, listen to OGs like @DarthCoin or Mircea Popescu. There's no shortage of innovation in Bitcoin, and it should ossify as soon as possible.
If you don't understand what I mean by philosophy, you should read more. I recommend starting with 'The Philosophy of Bitcoin' or '21 Lessons.' For monetary matters, you can begin with authors from the Austrian school like Mises or even Hayek.
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0 sats \ 0 replies \ @Michelson_Morley 29 Oct 2023
Well. Since I call myself honest, I should add that you are only right about the arrogance part. The rest? It shows that you understand nothing. If you asked a particle physicist how the atom works, would he say, "Go read a book"? He would just tell you.
I've been harsh on DarthCoin but thinking he is an OG and somehow knowledgeable is both a logical mistake (its appeal to authority) but also shows that you havent read what he writes. Just because someone acts confident and links to stuff that supports their one opinion, you should not assume such a person is helping anyone. As I said though, he's ok in my book. I'm a huckster too. Whatever. I don't respect lying.
I have read human action. Since you are austrian yourself, you understand that bitcoin is purely speculatively priced? It is not gold. Gold is pretty as jewelry, wonderful in conducting circuits. But a low layer breach in any cryptocurrency renders it worth nothing. This is why darthcoin is not an "OG", an authority, He doesn't know what I'm talking about. Why would he need to? His job is to repeat the word shitcoin and convince everyone its us vs them, and that he is an expert, repeating it enough so that people like yourself imitate the words. If I'm wrong about this, please let me know. I'm trying to reconsider my beliefs.
Bitcoin isn't good money or gold, but it's the strongest contender for currently that exists. Bitcoin maximalism may certainly be propagated by those who hold it (they're obviously going to keep HODLing until btc is acceptable universally.... definitely..). But thats fine, the end goal is mass adoption of real crypto. They help.
Why is it taboo against your faith to say how many coins you have? Because it endangers the pseudonymity of everyone you trade with? Or because some OG told you (they wouldn't have ulterior motives for not disclosing how much theyd gain from the thing they're shilling, right?).
If a true bitcoiner is bound by such weakness as the first of these points, which he is, then how long would it take before speculators began looking at better coins like Monero? You're an austrian, you know. So it's surprising to me that you willingly blind yourself with the "btc only" mindset. I'm more interested in seeing reality than group membership. Mostly because I actually know what I'm talking about.
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0 sats \ 0 replies \ @Michelson_Morley 29 Oct 2023
You are right. Your timing in making this comment is pretty amazing, because two hours ago I would have sawed you to pieces. Two hours ago, I didn't understand how arrogant I am.
I'm going to write a post on meta, after responding to you, where I'm going to explain why there is much more power, honesty, and truth in bitcoin maximalism than I've been trying to "help" the people understand. I've desperately been "working on" being humble since 5th grade, but a friend made me realize that I''ve only been lying.
I am arrogant. Beccause I am better at almost everuthing than the fools I'm "responsible" to help see reason, because of course they're not as smart.
These words are painful to write. I need to fucking be a man though, and stop this idiocy. It is laughable that I've been impluing (and writing!) that @DarthCoin is a charlatan. I'm the sharlatan. He told me he doesn't waste time on shitcoiners, and he was right. I'm going to explain logically why bitcoin maximism is a very good strategy. I'm also going to explain how easy it would be to take over stacker.news, and critique the staff of this website for it.
If people hate me for that, for being so narcissistic that I even think they'd want to read about my "person journey" fucking good. I deserve it.
But i am incredibly smart. I'm 6'3 and (though much less than in my youth, I'm attractive. It was no problem for me to arrange a threeway in college. I'm not honestly humble, just giving the appearance of it because I'm trying to appear even better.
So yeah. Thanks for telling me truth, and if you've read this far, thanks for letting me begin redemption in a safe place. Sorry for making you read this far. Have some sats.
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0 sats \ 0 replies \ @yo2xncv0 28 Oct 2023
Were you expecting an unbiased answer by asking this question on a Bitcoin centric website?
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0 sats \ 0 replies \ @fm 23 Oct 2023
poor quality bait
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0 sats \ 1 reply \ @libertad2cero OP 23 Oct 2023
Yes, it's another shitcoin.
#52182
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0 sats \ 0 replies \ @yo2xncv0 30 Oct 2023
Jimmy Song says he implemented "ring signatures" (the weakest part of Monero privacy) on some obscure out-of-date unmaintained github repo he made 6 years ago that no one even uses or has looked through. And implying this means he is now a Monero expert above all reproach and has nothing else to learn.
You can spot poorly informed Monero critics 90% of the time by their focus on ring signatures as if that is all there is to Monero. No mention of Stealth Addresses or Confidential Transactions the real magic of Monero's privacy that truly hides amounts and connection graph via encryption.
He also selectively compares Monero to fiat.
Here are a few major ways Monero is different from fiat:
-Monero inflation is fixed, non-arbitrary, and predictable (less inflation than gold)
-Digital fiat is not private, not anonymous, not permissionless, not final settlement, not p2p, and can't be self-custodied
-Cash can't instantly be sent to anyone on the planet, can be easily confiscated, and can't easily hide or transport large amounts
He focuses on a single aspect of centralization - hardforks.
Can Monero devs stop the community from swapping, selling, or forking if they start doing things we don't like? No. Ability to opt-out is what is important.
If you use Monero as intended, p2p digital cash (a MoE value transfer), not as a speculative longterm savings vehicle or investment, does this very unlikely possibility really effect you much if at all? No
Jimmy Song conveniently won't tell you this. but here are a few ways Bitcoin is literally and defacto centralized:
-Dependence on ASICs. Only two major manufacturers for Bitcoin ASIC miners and they both require KYC.
-Mining. Two mining pools mine almost 60% of blocks. Those two mining pools require KYC. Most mining is done on large corporate mining farms.
https://mempool.space/mining
https://postimg.cc/pmYsMSw9
-Node software. ~99% of node software is by Bitcoin Core. Even BitcoinCash is more decentralized than Bitcoin in this regard
https://luke.dashjr.org/programs/bitcoin/files/charts/software.html
-DNS seed nodes. There are only a handful of these hardcoded in and directing to a few devs from Bitcoin Core
https://bitcoin.stackexchange.com/questions/14371/what-is-a-dns-seed-node-vs-a-seed-node
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0 sats \ 0 replies \ @libertad2cero OP 23 Oct 2023
deleted by author
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