These days I’ve been trying to distance myself a bit from everything, and I realize that everyone forms camps and behaves like followers of political parties: they overlook their side’s mistakes and turn into hooligans.
What’s sad is that this also happens within the anti-state and privacy space, and that’s just deceiving yourself, which is one of the worst things a man can do.
Example:
- Monero supporters always ignore the MAP Decoder attack, which statistically reduces the ring size to 4 members, although it’s true that FCMP++ will solve it. But if they were honest, they wouldn’t sell it to you as the ultimate privacy tool because it has been vulnerable to this since 2022.
- CoinJoin supporters don’t tell you about or accept the vulnerabilities of their favorite coordinator. The main example of this was Samourai, and all of its followers keep repeating the same nonsense.
- Bitcoin supporters don’t accept that achieving privacy/fungibility with Bitcoin is difficult, and Lightning supporters don’t accept Lightning’s privacy flaws.
To fight the state/system we need something that is resistant to a state-level attack — that is Bitcoin, and only Bitcoin (hash power). But we also need privacy. At the moment we don’t have that, or at least not in its fullest form. For most cases Lightning is enough; for a drug trafficker maybe it isn’t sufficient.
That said, I think it’s fine that people use other solutions like Monero — I’m not the one to deny people their choice. FCMP++ will be a huge leap forward if it works, but don’t lie to people either. Bitcoin has no alternative, though it can have complements such as Monero or other privacy strategies. But we should all start by being honest with ourselves.
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Replies (8)
Is join market/jam good for privacy?
To be honest. The Monero community could do a much better job at communicating the risks from having reduced effective ring CT, but iFCMP is precisely the answer of that research that is ongoing.
If you know how to use it, then yes.
I will ask my cousin's friend
Do you have a lady? You should join our fertility cult.
so big tech companies like Google or Aws can attack on monero..?
Liquid with its confidential transactions helps a lot with Bitcoin's privacy, at the cost of some security. Bitcoin can also be used fairly privately on-chain n by combining Silent Payments, PayJoin, CoinJoin, and good practices, but you must know what you're doing. Not easy at all.
I'd say, if you really distance yourself from a preferred outcome, then the go-to answer is that there's a market for currencies, and it will let people pick the best options.
There's is no guarantee that this money exist yet, or will exist anytime soon. The whole idea that there's such a strong first mover advantage that it's locked is arguably irrational.
In terms of currencies, I believe the winner will be a scalable network that guarantees fungibility, privacy, neutrality and self custody. I don't think it will be bitcoin because it's simply not headed there. I think monero has a shot by virtue of being agile & able to improve its mainchain in ways bitcoin can't.
In terms of store of value, I can see bitcoin making it thanks to the institutional support but that's a double-edged bet. At the end, no matter the value, we still need a private & convenient means of exchange for daily transactions — otherwise we'd all rely on gold. I don't think anyone will elect a centralized/cumbersome payment network there even if it's denominated in valuable units (thinking of all these weird L2s here)