100 sats \ 17 replies \ @allark OP 31 Jul 2022 \ parent \ on: For those who dislike Monero…why? bitcoin
Most are valid criticisms but don’t understand the last point “if everyone uses it, it gets worse”
Iirc fees go down with more usage and privacy increases as well due to bigger set of UTXOs to use in anonymity 🤔
Edited OP to remove last point. But I'll support it here:
XMR has adaptive block size. If massively adopted, the chain will bloat to ridiculous levels and it will become more difficult to run a full node. This hurts decentralization of the project. Currently, chain size is way smaller than BTC but that's because it's barely used. Thus the anonymity set is currently small.
Another critique: mining with general purpose hardware is a decentralization gain at the expense of a security weakness.
CPU/GPU mining is good for decentralization because more people have access to the hardware.
However, ASICs are good for security because almost every ASIC in existence is currently utilized to defend the network. There isn't a lot of "spare hashpower" to devote towards a coordinated attack.
Whereas, every CPU in the planet not currently mining XMR (probably +98% of all CPU cycles) could be persuaded to attack. I've heard XMR shills say that it's a good thing because in the event of an attack, people will magically decide to defend XMR and start hashing cooperatively. But it could go either way.
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Whereas, every CPU in the planet not currently mining XMR (probably +98% of all CPU cycles) could be persuaded to attack.
Botnets are a risk to any CPU/GPU mined crypto.
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Blockchain size is absolutely an issue, agreed.
As to the attack angle, that’s well thought out. Instead of attacking, maybe honestly analyzing the pros and cons of both ASIC and ASIC-resistance would benefit both ecosystems. 🙃
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What about my analysis of pros and cons was dishonest?
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I meant that more for the XMR community, instead of criticizing you, they should be addressing the valid concerns you raised.
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Agree. XMR is great. I don't even "dislike" it. When privacy is priority, it's a great option to have. It's just a different set of tradeoffs that's competing for a different kind of use case.
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Yes!
We lean the same way. It’s each tool for its purpose.
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Why mix your coins with drug dealers?
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There is no coin mixing in Monero as there is no way to trace coins 🙃
It is perfectly fungible. No one knows where they came from, where they’re going and which coins are going in what amount.
Mixing with dirty coins is only a problem with transparent ledgers. 🙂
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There is no coin mixing in Monero as there is no way to trace coins
No mixing but every transaction is technically a big coinjoin.
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...With confidential amounts. BTC can't do that part.
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You litteraly talking about Coinjoins, where u can potentially spend with a terrorist or drug dealer or any bad guy.
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Again….If your rulers make it illegal to send money to your mom, you’re a bad guy too.
This is naive and childish.
Also, how will anyone know who you are spending with?
Monero transactions don’t show
- Where they are coming from
- Where they are going
- What amount is being spent
- And there are 11 decoy transactions mixed with the real one
Again, do your research because you sound like an NPC just parroting what you see on TV. 🙃
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Monero was delisted from many exchanges if someone is navie definitely not me ¯\_(ツ)_/¯
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You are just proving the point. 🙃
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That would be argument for monero actually. Check why was it delisted.
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Exactly 🙃
These same people would happily KYC till the day they are led to the gulag because “we don’t have anything to hide”…right then why don’t you poop with the toilet door open in public. 😅
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