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Post by gsovereignty
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gsovereignty
Binance is delisting Monero.
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fightlessbirds
Bullish 👀
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Bada₿it
It's getting slapped back to 100 USD. But price doesn't matter, right?
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Saberhagen The Nameless
Bitcoin has had harder falls. Nearly 80% early 2022. Recent ridiculous tx fees that will continue growing with adoption. Moneros transactional privacy still works at any price. Don't hold it if you're scared of volatility. But in that case you shouldn't be holding Bitcoin either.
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Bada₿it
True, but Bitcoin did a 20x prior to that.. Bitcoin has had ridiculous tx fees indeed, but scaling is being worked on. One onchain tx can now allow for thousands of L2 tx. Monero privacy is impacted though by the small anonset. Having less and less ways to obtain xmr will hurt adoption and the ano
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Saberhagen The Nameless
How large do you think your anon set is with Bitcoin? It's only as large as those who don't KYC (tiny fraction) and partners in your coinjoin round (which passively reduces over time as they spend or make mistakes). With Monero it's never known if a TXO was spent. And your anonset grows over time,
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Bada₿it
When you spend through Lightning, your anonset is practically the entire LN network.
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Saberhagen The Nameless
95% of LN users are on custodial wallets and LSPs that can see everything. And even if everyone suddenly decided to use LN correctly - receiver privacy is terrible and even hidden balances can be probed and discovered by larger routing nodes. LN devs telling you is not private: bitcoinmagazine.com/
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Bada₿it
Lol, have you read the article? “Senders have amazing privacy on Lighting on a general level,” Giorgio said. That's right, "amazing" sender privacy just like I claimed. Receiver privacy is being worked on, but let's not claim Monero doesn't have any challenges. It can't scale, there could be an i
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Saberhagen The Nameless
Yes, I specifically said receiver privacy is bad. So, why would I settle for incomplete and complex privacy? We're just supposed to wait for some indefinite future until it's fixed? LN has always been prioritized around fast and cheap payments for retail, with privacy as an afterthought. As for inf
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Bada₿it
Bisq indeed has high volume XMR trades (a few power users), but the absolute majority of trades are not with the Monero trading pair. There is no "major" demand. It's at best niche compared to demand for bitcoin. Atomic swaps have been a buzzword for many years, glad to see there is finally smth ha
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Saberhagen The Nameless
So we have BTC atomic swaps BCH just finished atomic swaps for Monero ETH is in progress I'm sure you don't care about the last two, but just bringing it up to show more doors for atomic swaps opening up and CEX delisting become less relevant by the day github.com/PHCitizen/bch-xmr-swap github.com/AthanorLabs/atomic-swap
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Bada₿it
Monero is a bad store of value asset, meaning you need to swap in and out every time you want to use it, else you lose purchasing power. These swaps reduce the anonset further. If you instead open a LN channel with a non-kyc, conjoined Bitcoin UTXO, you can spend when and where you want privately,
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Saberhagen The Nameless
Store of value is about the longterm. Short to medium term is anyones guess. Monero can be up or down over months vs Bitcoin. You buy enough Monero you'll need to spend for X amount of time (weeks to months). You don't constantly swap in and out. Your last paragraph sounds expensive, time-consuming
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Bada₿it
Why swap to a slow bleeding privacy coin every month, if you can use the best SoV privately already today? You are forgetting that you also need to acquire Monero before you "hit the send button". The swapping to non-kyc Monero can also be considered tedious and expensive. Not a lot of apps and low
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Saberhagen The Nameless
On a small to medium timescale it can go either way. Even a timescale of months is too short to know if Monero will be up or down vs Bitcoin. SoV implies long term as in years or longer. For example, all of 2022 you would've been much better off holding Monero than Bitcoin. You also need to first a
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