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38 sats \ 2 replies \ @HardRich 9 May \ parent \ on: if bitcoin became illegal by law (part two) Personal_Finance
Agreed, folks should be open minded. It is sad to see some folks that are rather bull -headed about just having a discussion. I'm a pretty hardcore bitcoiner and have studied it pretty well - I therefore have confidence in my opinion and can be open-minded. Folks that fight against an open discussion seem less secure to me.
That being said, @kristapsk may know what he's talking about (I don't think he's being closed minded like some folks in this thread). Otherwise, @Hamstr, do you know if Monero can scale as well or better than Bitcoin?
I think the question of scaling is relevant because IF layer 2 becomes the norm in the future and IF layer 2 can have privacy then that seems like a win for bitcoin. Or, said another way, at that point, what value does Monero have over bitcoin?
I not entirely 100% sure, but from my understanding, over-time is gets better the more people that use it and transact in it. So it gets cheaper to send transactions, it gets more anonymous they are upgrading from ringCT16 to full dev mode which goes up to 100,000. Its a new development, so I'm a bit unfamiliar with this so don't bite my head if I'm giving you wrong info.
right now, to send a transaction to you is at most $0.01 if high high priority. but often times it less then a penny
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Everything you said is pretty much correct. The RingCT upgrade is called Seraphis btw, which basically makes your transaction potentially part of any transaction on chain. Can't understate how massive an improvement this will be.
There are a lot of other benefits like forward secrecy, better viewkeys, multisig, etc and cleans up many other smaller and larger issues Monero has