Bitcoin Vs Monero - Privacy as the world becomes more dystopian

[barto123]

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.

If you are already using coinjoin and Lightning, then what supplementation does Monero provide?

Coinjoin is only forward facing privacy & lightning has a lot of privacy holes. Monero as the final spend is a good idea IMO. Or swap Monero to Lightning. Mix it up though, you don't want the same patterns.

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[panganib999]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Cutting the smug off, When you're given the choice between a practically new kid on the block with a lot to prove for itself but shows great promise, and a veteran in the industry that's standing still despite numerous attempts at its life and is still able to provide the same if not better kind of service all these years, I'm pretty sure you'd choose the latter. And that's no surprise, bitcoin's always been the safest choice all these years after all.
Monero is good and all that, but it just couldn't hold a candle against the longevity and the sense of security that people have over bitcoin. You can make people hold bitcoin for a decade, but you can't make them hold Monero, on a particularly long amount of time.

[Kruw]

Coinjoin is only forward facing privacy & lightning has a lot of privacy holes.

What do you mean "Coinjoin is only forward facing privacy"?

[arabspaceship123]

If it wasn't successful it won't be used. The privacy and anonymity works to its advantage that's why centralised exchanges in America are dropping Monero. They're scared of American regulations so they'll delist but it's going to remain available on decentralised exchanges. It doesn't change anything for privacy but XMR trade volumes aren't going to be high.

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

[GingerAle]

If it wasn't successful it won't be used. The privacy and anonymity works to its advantage that's why centralised exchanges in America are dropping Monero. They're scared of American regulations so they'll delist but it's going to remain available on decentralised exchanges. It doesn't change anything for privacy but XMR trade volumes aren't going to be high.

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Which american exchanges?

[apogio]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Yes, but this is exactly the reason CEXs don't like Monero. Its anonymity and privacy is a threat for them, because they can't censor it and they can't have any control over it in case any central authority (i.e. government, bank etc) ask for it.

So, to comply with their rules, CEXs have to ignore Monero. It is by default, too good for us, too bad for them.

[cryptosize]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Yes, but this is exactly the reason CEXs don't like Monero. Its anonymity and privacy is a threat for them, because they can't censor it and they can't have any control over it in case any central authority (i.e. government, bank etc) ask for it.

So, to comply with their rules, CEXs have to ignore Monero. It is by default, too good for us, too bad for them.

Binance, Kraken, KuCoin still list it:

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

Even if they delist it, they can do nothing about DEX bridges.

[arabspaceship123]

In America if crypto exchanges want to granted official or regulated status they won't be allowed to use XMR or other privacy coins because govts want to know everything about crypto transactions. If exchanges can't give govts details on transactions they won't be allowed to trade. Did you hear other news?

If it wasn't successful it won't be used. The privacy and anonymity works to its advantage that's why centralised exchanges in America are dropping Monero. They're scared of American regulations so they'll delist but it's going to remain available on decentralised exchanges. It doesn't change anything for privacy but XMR trade volumes aren't going to be high.

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Which american exchanges?

[The Sceptical Chymist]

Are you sure it is getting a lot of adoption on exchanges?

I'm not even sure that's a big positive, even if what OP said is true, which I'm not sure of as monero has been listed on tons of exchanges for years now anyway.

The thing about bitcoin is that its one of the few cryptocurrencies that can actually be used as money to buy stuff from merchants, which I believe was one of the intended purposes from the get-go.  But monero?  I don't know any place you can spend it, and I'd like to see some evidence that it's being used on the dark web.  It makes sense that it would be, but I've never visited any onion sites and so I don't know if it's really being used there.

Aside from that, I've got no problems whatsoever with XMR.  And by the way, most altcoins have much lower fees and much faster confirmation times than bitcoin.  I wish that weren't so, but that's the reality.

Coinjoin is only forward facing privacy & lightning has a lot of privacy holes.

What do you mean "Coinjoin is only forward facing privacy"?

I was curious about that statement as well.

[leonair]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Yes, but this is exactly the reason CEXs don't like Monero. Its anonymity and privacy is a threat for them, because they can't censor it and they can't have any control over it in case any central authority (i.e. government, bank etc) ask for it.

So, to comply with their rules, CEXs have to ignore Monero. It is by default, too good for us, too bad for them.

Binance, Kraken, KuCoin still list it:

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

Even if they delist it, they can do nothing about DEX bridges.

As a privacy coin it only complete a Internal transcation which is not possible publicly track like another crypto coins/tokens. but bitcoin is totally decentralised coin and it has more privacy then Monero. also bitcoin has decentralised wallet which is not possible to hack. so it doesn’t matter how internal transcation complete Monero coin bitcoin will always a strong secure coin then Monero

[arabspaceship123]

I don't understand why you're saying you need internal transactions for privacy because XMR's functioning on a privacy blockchain. Which coin are you talking about I've been reading your comments you haven't specified the name of the coin you've said works better than XMR. If this isn't about Monero which coin do you mean?

As a privacy coin it only complete a Internal transcation which is not possible publicly track like another crypto coins/tokens. but bitcoin is totally decentralised coin and it has more privacy then Monero. also bitcoin has decentralised wallet which is not possible to hack. so it doesn’t matter how internal transcation complete Monero coin bitcoin will always a strong secure coin then Monero

[apogio]

As a privacy coin it only complete a Internal transcation which is not possible publicly track like another crypto coins/tokens. but bitcoin is totally decentralised coin and it has more privacy then Monero. also bitcoin has decentralised wallet which is not possible to hack. so it doesn’t matter how internal transcation complete Monero coin bitcoin will always a strong secure coin then Monero

Are you saying "then" or "than"?

Bitcoin is not as private as monero is. Monero offers anonymity, whereas Bitcoin offers pseudonymity.

As far is decentralisation is concerned, then it is very difficult to calculate which one is more decentralised. Bitcoin is huge compared to XMR.

[cryptosize]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Yes, but this is exactly the reason CEXs don't like Monero. Its anonymity and privacy is a threat for them, because they can't censor it and they can't have any control over it in case any central authority (i.e. government, bank etc) ask for it.

So, to comply with their rules, CEXs have to ignore Monero. It is by default, too good for us, too bad for them.

Binance, Kraken, KuCoin still list it:

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

Even if they delist it, they can do nothing about DEX bridges.

As a privacy coin it only complete a Internal transcation which is not possible publicly track like another crypto coins/tokens. but bitcoin is totally decentralised coin and it has more privacy then Monero. also bitcoin has decentralised wallet which is not possible to hack. so it doesn’t matter how internal transcation complete Monero coin bitcoin will always a strong secure coin then Monero

Excuse me? Are you a ChatGPT bot or what?

As a privacy coin it only complete a Internal transcation which is not possible publicly track like another crypto coins/tokens. but bitcoin is totally decentralised coin and it has more privacy then Monero. also bitcoin has decentralised wallet which is not possible to hack. so it doesn’t matter how internal transcation complete Monero coin bitcoin will always a strong secure coin then Monero

Are you saying "then" or "than"?

Bitcoin is not as private as monero is. Monero offers anonymity, whereas Bitcoin offers pseudonymity.

As far is decentralisation is concerned, then it is very difficult to calculate which one is more decentralised. Bitcoin is huge compared to XMR.

I'd argue Monero's decentralization is pretty good, since anyone with a CPU can contribute to the network's security (much like during BTC's early days). Not everyone has an ASIC though...

[o_e_l_e_o]

Isn't monero getting dropped left and right from exchanges? Guess the "privacy and anonymity" that it offers couldn't work to its advantage huh.

Exactly. Exchanges cannot surveil it, cannot control it, and cannot censor it like they can do with every other coin. Their only option to conform with governmental demands is to delist it entirely. This is just more proof that Monero works.

And as I've said before, no one who is actually interested in the privacy that Monero provides is buying it through a fully KYCed centralized exchange anyway.

But monero?  I don't know any place you can spend it

It makes up a third of all volume at Coincards: https://nitter.cz/CoinCards/status/1720502526339088602#m
And apparently now the most popular currency at this EU based online store: https://nitter.cz/shopinbit/status/1726672087761494495#m

Aside from that, I've got no problems whatsoever with XMR.  And by the way, most altcoins have much lower fees and much faster confirmation times than bitcoin.  I wish that weren't so, but that's the reality.

Only because most altcoins are incredibly insecure. If you think BCash is fast, for example, it actually takes over 1,000 BCash confirmations to have the same security as 6 bitcoin confirmations.

[wallet4bitcoin]

I love bitcoin, however i see privacy as the #1 concern going forward.

Monero is quietly gaining lots of adoption on websites, services, exchanges, dark net markets etc.

Most of the truth & freedom movement appear to recommend it over Bitcoin.

Node count has passed BTC and mining hash rate is growing rapidly as you don't need an Asics, just your PC.

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.

Privacy network simply gives better edge compared to Bitcoin network. I don't consider the Monero a network that has much traction because people are silent about it. The reason for the silence is not because people don't care but because they have little or no information about transactions that goes on in there.

In no distant time, I believe that privacy netowrks like monero will gain traction and still leave its users safe and secure as the transactions can not be mirrored like it is through the Bitcoin network.


This will also make projects migrate to privacy chains and another wave of boom will emerge for them.

[arabspaceship123]

I'd expect privacy networks to be taken away from centralised exchanges to outcast them. They'll be used but won't have activity because ppl won't be able to get fiat from centralised exchanges if they've originated from privacy networks. When ppl realise they won't have private info in centralised exchanges how many are going to use privacy networks?

In near time Monero could increase trades but we don't know if ppl will feel safe using it if they're sending exchanged crypto to centralised exchanges when they want fiat.

Privacy network simply gives better edge compared to Bitcoin network. I don't consider the Monero a network that has much traction because people are silent about it. The reason for the silence is not because people don't care but because they have little or no information about transactions that goes on in there.

In no distant time, I believe that privacy netowrks like monero will gain traction and still leave its users safe and secure as the transactions can not be mirrored like it is through the Bitcoin network.


This will also make projects migrate to privacy chains and another wave of boom will emerge for them.

[BenCodie]

I'd expect privacy networks to be taken away from centralised exchanges to outcast them. They'll be used but won't have activity because ppl won't be able to get fiat from centralised exchanges if they've originated from privacy networks. When ppl realise they won't have private info in centralised exchanges how many are going to use privacy networks?

In near time Monero could increase trades but we don't know if ppl will feel safe using it if they're sending exchanged crypto to centralised exchanges when they want fiat.

This has already happened for the most part. A lot of centralized exchanges have removed/dropped XMR entirely, or for most jurisdictions. While it effects liquidity, it does signify its effectiveness when it comes to privacy.

To address the second part of your post, I think many are becoming more and more fearful of centralized exchanges...some are even becoming more and more fearful of storing excess dollars. Over time, less will use CEXs for fiat related transactions, more will use DEXs for on chain trades and P2Ps if they ever need to do a fiat trade.

[PrivacyG]

I have some difficulties with monero, that I think can be addressed in this topic:

We have similar feelings.  Knowing Bitcoin, starting to use Monero in parallel for the first time is harder than it sounds.  It is not as easy as 1 2 3 for sure.  If you use Dogecoin it is one thing but using Monero is different.  Particularly because Monero is for PRIVACY, so more care is necessary if you want to keep it that way.  Wallet is different, Transactions look different et cetera.

I hope some day some body smart enough will drop some ELI 5 type of Monero Documentation.  Answering all What, How and Why questions.  There are definitely a lot of things I misunderstand about Monero even if I have been using it for a very long time already.

3. I am not sure whether the variable sized blocks are good or not... I haven't come to a conclusion yet, but I would like to hear your thoughts.

Guess we will find out when Monero usage reaches what is supposed to be a maximum.

[apogio]

We have similar feelings.  Knowing Bitcoin, starting to use Monero in parallel for the first time is harder than it sounds.  It is not as easy as 1 2 3 for sure.  If you use Dogecoin it is one thing but using Monero is different.  Particularly because Monero is for PRIVACY, so more care is necessary if you want to keep it that way.  Wallet is different, Transactions look different et cetera.

I hope some day some body smart enough will drop some ELI 5 type of Monero Documentation.  Answering all What, How and Why questions.  There are definitely a lot of things I misunderstand about Monero even if I have been using it for a very long time already.

Luckily the documentation here is good and easy to read.

But yeah Monero is superior to Doge (which I still dislike). In fact I don't like anything other than Bitcoin and Monero. The way I see it is totally privacy-centered. I want to achieve the highest privacy possible and Monero is a great asset in this regard.

[apogio]

In case anyone is interested, here is nice discussion, in a comparative video regarding censorhip in Bitcoin versus Monero.