Bitcoin Vs Monero - Privacy as the world becomes more dystopian

[nutildah]

Daily transaction count for Monero hasn't changed much in the last 5 years. I'm not sure its adoption is going anywhere either.
https://bitinfocharts.com/comparison/monero-transactions.html

Are you reading this chart the same way I am? 5 years ago there was about 4.1k transactions per day and now its about 26k transaction per day... That's an increase of over 5x. I'd say that definitely suggests adoption is occurring.

Node count isn't a very reliable measure because you can cherry pick whichever source is more favorable to your argument. MoneroHash says Monero has 3k nodes while Monero.Fail says it's 22k.

These websites are counting different things: the first is active (currently reachable) nodes, the second is total nodes seen within the last 2 weeks.

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[Kakmakr]

Yes, financial privacy are important, but there are bigger problems with it that needs to be considered.. if you want to allow that.

We know 100% anonymity is directly linked to criminal actions and we should find solutions to expose criminals and still protecting people's financial information.

Do we want the blood of innocent victims of child abuse or victims of terrorism on our conscience, when people use this technology to pay for child porn or when they buy weapons to kill innocent people in the streets as part of some religious war?

[cryptosize]

Monero is still listed in big exchanges such as Binance, Kraken, KuCoin:

https://coinmarketcap.com/currencies/monero/#Markets

Eventually I expect DEX to become the norm... good luck regulating those!

[nutildah]

We know 100% anonymity is directly linked to criminal actions and we should find solutions to expose criminals and still protecting people's financial information.

Hmm... I'm not entirely sure about that. As far as we know, Satoshi is 100% anonymous. Does that mean he is linked to criminal actions and should be exposed? There are instances when anonymity is important to non-criminals, for example, whistleblowers both corporate & political. Also protection from government overreach isn't necessarily a bad thing... should everyone who uses bitcoin in Iran, Bangladesh and a few other countries be punished just because its against the law?

Do we want the blood of innocent victims of child abuse or victims of terrorism on our conscience, when people use this technology to pay for child porn or when they buy weapons to kill innocent people in the streets as part of some religious war?

No of course not, and the government (US feds, INTERPOL mainly) already have their hands full when it comes to investigating & prosecuting these types of criminals. There are other ways they can be found and tracked than by monitoring their crypto transactions.

[Blitzboy]

Yes, financial privacy are important, but there are bigger problems with it that needs to be considered.. if you want to allow that.

We know 100% anonymity is directly linked to criminal actions and we should find solutions to expose criminals and still protecting people's financial information.

Do we want the blood of innocent victims of child abuse or victims of terrorism on our conscience, when people use this technology to pay for child porn or when they buy weapons to kill innocent people in the streets as part of some religious war?

Your complaints are fair, but they miss a key point: the issue is bad users, not Bitcoin's privacy feature. Should we not consider that most Bitcoin users value privacy for genuine reasons? All financial systems risk misuse, but humans are unpredictable, not technology.

We shouldnt dispute Bitcoin's privacy concept; instead, how can we strengthen ecosystem monitoring and regulation without infringing privacy rights? Blockchain experts, law enforcement, and privacy activists may collaborate. Innovations that balance security and privacy may result from such collaboration. Its difficult, but it protects money privacy and prevents criminal exploitation. Lets not forget Bitcoin's ability to transform financial privacy while solving these issues.

[yazher]

As far as I remember, the government is making some huge effort to stop the development of such coins because it has become popular in recent years until they made some action and for some exchanges to delisted them throughout this time since they have the power to do it and they are using it while they can. Unlike bitcoins, all they are doing right now is putting some pressure on exchanges and I hope it won't be getting tight in the upcoming years because we will lose some financial freedom if they continue to tighten their rules in all centralized exchanges.

[davis196]

1.There's no problem having both Bitcoin and Monero in your portfolio. I don't see your question as a "this or that" type of choice.
2.Yes, Monero is more private than Bitcoin, but so what? You could send monero to someone and still get scammed.
You could deposit monero in a centralized crypto exchange or crypto casino and never see it again.
The only advantage of Monero is the lack of transparency of transactions, but you could achieve the same thing by using a trusted BTC mixer.
Monero transaction fees are lower, but I wonder what the tx fees would be, if the Monero blockchain gets clogged with some useless shit like the Bitcoin Ordinals.

[cryptosize]

1.There's no problem having both Bitcoin and Monero in your portfolio. I don't see your question as a "this or that" type of choice.
2.Yes, Monero is more private than Bitcoin, but so what? You could send monero to someone and still get scammed.
You could deposit monero in a centralized crypto exchange or crypto casino and never see it again.
The only advantage of Monero is the lack of transparency of transactions, but you could achieve the same thing by using a trusted BTC mixer.
Monero transaction fees are lower, but I wonder what the tx fees would be, if the Monero blockchain gets clogged with some useless shit like the Bitcoin Ordinals.

https://mordinals.org/

[nutildah]

1.There's no problem having both Bitcoin and Monero in your portfolio. I don't see your question as a "this or that" type of choice.
2.Yes, Monero is more private than Bitcoin, but so what? You could send monero to someone and still get scammed.
You could deposit monero in a centralized crypto exchange or crypto casino and never see it again.
The only advantage of Monero is the lack of transparency of transactions, but you could achieve the same thing by using a trusted BTC mixer.
Monero transaction fees are lower, but I wonder what the tx fees would be, if the Monero blockchain gets clogged with some useless shit like the Bitcoin Ordinals.

https://mordinals.org/

LOL! I'm really not surprised... The first copycat was Litecoin Ordinals (because it also has SegWit & Taproot), then Doginals, then Ethscriptions, then Solscriptions, then inscriptions on AVAX & MATIC... and now Monero. That's the funny thing about NFTs on Monero though: nobody knows when they change hands, and nobody knows who has which ones. Think I'll pass.  

[shield132]

To me it seems Monero is something that should not be ignored.

Also scaling is another issue, Bitcoin fees are 1000x Monero fees.

There's no reason why you can't Coinjoin/Lightning your UTXO's in conjunction with Monero - it's a good privacy tool and supplement to Bitcoin IMO.

Thoughts please. I want some honest opinions here.

Everyone can check my post history. I have been saying since 2017 that Monero is the next big thing that happened in crypto world. Monero is the currency that protects our privacy the most but it shocks me that Monero ranks 25th on coinmarketcap. As it looks, not everyone is looking for privacy but Monero will grow over time, people will appreciate the benefits that monero brings. At the moment Bitcoin Mixers are doing their job well, they simply cost expensive because Bitcoin price and transaction fees have increased.

[PrivacyG]

Monero is the better option IF you need Privacy.

The two Coins will have a difference in how adoption and acceptance works however.

Bitcoin will become more accepted the better ways Authorities find to trace you and your history.  So while Bitcoin will become more accepted there will be an enforced Centralization and Surveillance.  A 'Second Layer Centralization and Supervision' if you will.  But Bitcoin owners will become increasingly aware of Monero and many will take what Authorities say for granted.  I expect there will be news sounding like 'Bitcoin is much better than Monero' once adoption levels increase substantially.  Anyway.  Bitcoin owners will be for the most part the normies.

Monero will become more accepted too the better ways Authorities find to trace you and your history.  So while Monero will become more accepted there will be some back lash from Authorities and pretty much most Third Parties who obey.  It will be the 'Underground Currency' if you will.  But Monero owners will become increasingly aware of this and will resort to using mostly Monero only.  I expect there will be news sounding like 'Monero is the favorite Currency for crime' once adoption levels increase substantially.  Anyway.  Monero owners will be for the most part the rebels.

Like it or not.  The society will soon be segregated.  It sounds like these Science Fiction movies but we are almost there.  I do see a very clear line of separation between the two sides of our society already however.  Only for choosing to not have a Bank Account or a daily driver Smart phone I am seen as a non conformist and excluded automatically by society.

Like it or not.  Bitcoin will gain more popularity but will be closer to how Banks work than ever before.  Monero will be the Currency for escapees of society.  Not for crime but for the people who care.  For the people who rather not have any thing than have no Privacy.

Dystopia is here.  Bitcoin will continue to be King.  But Monero will be the King of the Underground.

[barto123]

Also scaling is another issue, Bitcoin fees are 1000x Monero fees.

Because Bitcoin is used 1000x more often than Monero. If Monero would reach the limits of its capacity, it would have high fees too. And since Monero is not using any different blockchain architecture that would make it more efficient than Bitcoin with block space, you can't say that it's more scalable just because the devs chose to have higher block size cap. Raising the size cap is trivial, dealing with the consequences is not.

I've seen Monero's transaction volume range from 3% to 20% of Bitcoin

https://localmonero.co/blocks/stats/transaction-stats

https://ycharts.com/indicators/bitcoin_transactions_per_day

A lot of Monero's transactions are used for real commerce on dark net markets & now a bunch of websites - marketplaces, gift cards, internet services (VPN providers), esims, online shopping etc. See here kycnot.me

Bitcoin has a lot of the same sure, except it's used as gateway from fiat, so there's a lot of transactions that are just moving money, not spending.

Monero is being spent a lot, it's not a hodl culture. Spending is ultimately how we win. It's real adoption.

The demand for privacy is clearly growing, on every level. I've never seen so many people have degoogled phones, ditch their surveillance apps, software, operating systems.

[cryptosize]

Monero is being spent a lot, it's not a hodl culture.

That's partly because Monero is an inflationary currency (tail emission/eternal 0.6 XMR block subsidy), unlike BTC which is destined to become deflationary.

[FinneysTrueVision]

Daily transaction count for Monero hasn't changed much in the last 5 years. I'm not sure its adoption is going anywhere either.
https://bitinfocharts.com/comparison/monero-transactions.html

Are you reading this chart the same way I am? 5 years ago there was about 4.1k transactions per day and now its about 26k transaction per day... That's an increase of over 5x. I'd say that definitely suggests adoption is occurring.

I meant to say 3 years, which is the default shown when visiting that page. That's still quite a long time without significant growth.

Node count isn't a very reliable measure because you can cherry pick whichever source is more favorable to your argument. MoneroHash says Monero has 3k nodes while Monero.Fail says it's 22k.

These websites are counting different things: the first is active (currently reachable) nodes, the second is total nodes seen within the last 2 weeks.

The claim that Monero has more nodes seems to be based on the Monero.Fail website that includes older data which is why I believe they are cherry picking an inflated number.
https://www.reddit.com/r/Monero/comments/olb651/monero_nodes_15k_bitcoin_nodes_13k/

[NotATether]

LOL! I'm really not surprised... The first copycat was Litecoin Ordinals (because it also has SegWit & Taproot), then Doginals, then Ethscriptions, then Solscriptions, then inscriptions on AVAX & MATIC... and now Monero. That's the funny thing about NFTs on Monero though: nobody knows when they change hands, and nobody knows who has which ones. Think I'll pass. 

What? Why does ETH need Ordinal technology of all cryptocurrencies? It already has smart contracts, what the hell, it already has NFTs so this kind of thing is just bloat for the network.

It looks like people are trying to spam all the networks by using these projects for storing useless crap purely in an attempt to earn more money.

[pinggoki]

It's too late for me to hide anything on the government and it's not like they are going to tax me on my crypto stuff so I don't think that I'm ever going to try using Monero and now that a lot of CEX are trying their best to remove it in their exchange. We're probably living in a dystopia already, we just refuse to see it because it's not what we've expected of the dystopias we've watched and read. I would still go for bitcoin, I'm good enough with the pseudonymity that it provides, maybe I'll worry about my privacy when I have tens or hundreds of millions if not billions in crypto.

[apogio]

LOL! I'm really not surprised... The first copycat was Litecoin Ordinals (because it also has SegWit & Taproot), then Doginals, then Ethscriptions, then Solscriptions, then inscriptions on AVAX & MATIC... and now Monero. That's the funny thing about NFTs on Monero though: nobody knows when they change hands, and nobody knows who has which ones. Think I'll pass.  

The only question I have is why on earth do people want to have ordinals in the first place. What do they gain with them? Do people really think that this is art and someone will pay absurd amounts of money to buy them in the future? This is ridiculous, pixelized sh*t.

[cryptosize]

LOL! I'm really not surprised... The first copycat was Litecoin Ordinals (because it also has SegWit & Taproot), then Doginals, then Ethscriptions, then Solscriptions, then inscriptions on AVAX & MATIC... and now Monero. That's the funny thing about NFTs on Monero though: nobody knows when they change hands, and nobody knows who has which ones. Think I'll pass.  

The only question I have is why on earth do people want to have ordinals in the first place. What do they gain with them? Do people really think that this is art and someone will pay absurd amounts of money to buy them in the future? This is ridiculous, pixelized sh*t.

Why do people pay millions of dollars for a bunch of paint on a canvas (Mona Lisa)?

Most of the time it's money laundering via the "art" excuse.

[apogio]

Why do people pay millions of dollars for a bunch of paint on a canvas (Mona Lisa)?

Most of the time it's money laundering via the "art" excuse.

Or perhaps it's a way to show power. I mean apart from the money laundering reason. There are people who really think that others will feel jealousy if they buy a super expensive item. That's a motivation too.

[PrivacyG]

It's too late for me to hide anything on the government and it's not like they are going to tax me on my crypto stuff so I don't think that I'm ever going to try using Monero and now that a lot of CEX are trying their best to remove it in their exchange.

You are taking the wrong approach.  It is never too late to start taking your Privacy back.  Taxed or not, why continue letting the Government collect information on you and slash your Privacy away.  Using Monero is not about hiding for Taxes.  Using Monero is about just that.  Part of getting back Privacy in your life.

As for Monero and Exchanges.  Even if Centralized Exchanges remove Monero it does not mean much.  Centralized Exchanges will have to obey to what Authorities say.  Authorities hate Monero because you can have Privacy again.  So this happens.  Centralized Exchanges are requested to remove Monero or they are doing it on their own out of fear of getting sanctioned or investigated by United States.

We're probably living in a dystopia already, we just refuse to see it because it's not what we've expected of the dystopias we've watched and read. I would still go for bitcoin, I'm good enough with the pseudonymity that it provides, maybe I'll worry about my privacy when I have tens or hundreds of millions if not billions in crypto.

Why worry ONLY if you have a massive Wealth?  What is the point of only worrying when you have that much if every body can see your history already.  The point is caring about Privacy BEFORE some body is interested in researching your history.  Because why let them search your history.  Who are they to invade your Privacy?  No body should be able to do that.