135 sats \ 2 replies \ @sethforprivacy 1 Aug 2022 \ parent \ on: For those who dislike Monero…why? bitcoin
- Monero has the third-most devs of all cryptocurrency projects, behind only Bitcoin and Ethereum. It's consensus is not easy to change, but when the proposed changes are well-reviewed, audited, and align with the core ethos of Monero (privacy for all users, ASIC-resistance, etc.) and social consensus aligns the Monero community is open to hard-forks to improve the protocol.
- Good point, and one reason that I'm still hopeful Bitcoin can iterate and improve and make Monero unnecessary.
- It can be mitigated by running a lightwallet server like monero-lws and connecting with a wallet that supports it, allowing you to retain privacy while negating all sync drawbacks. I'm currently testing this out and it's very promising, and is very easy to use for anyone who already runs a Monero node.
- This is a common misunderstanding, the anonymity set for Monero transactions is much higher than even that of privacy-preserving Bitcoin transactions, as far more people use Monero than use Bitcoin privately. Your anonymity set in Bitcoin is 0 if you don't use it properly, and most users have 0 privacy on Bitcoin.
I haven't checked in on Monero for a few years. Is it still the case that the project has a consistent schedule of a hard fork every 6 months in order to combat ASICs? If so, a concern I'd have with that is that it then REQUIRES competent, trustworthy devs to keep pace and never let up. Whereas Bitcoin Core could completely stop releasing code for 5 years and bitcoin would be fine.