Daedalus's avatar
Daedalus _@daedalus.website 1 week ago
Default on-chain privacy is the only way. Lightning is DOA, look at payment stats for websites that accept On-chain and Lightning, lightning gets barely 1 or 2% of transaction volume. Also it's privacy is mid at best (recieving primarily) and most people use it in a custodial or partially custodial way which gives it less privacy than on-chain. ECash is literally not even Bitcoin, it's just custodial paper Bitcoin, even worse. You've been sold propaganda and lies. On-chain default privacy or bust.
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Artisan Regenerative Traditions's avatar
Artisan Regenerative Traditions Schopenhauered@primal.net 1 week ago
On chain privacy or bust? Bitcoin is just the first mover and so it benefits from network effects. It doesn’t have to be the only tool. It’s just a form of money. If it’s a better form of money than cash or gold then use it. Most people are just trying to keep their heads above water and save in something that isn’t printed into oblivion. Doesn’t seem like it’s a bust if they have that option. Just keep cash along side it if you want privacy. It’s not black and white.
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Mischa's avatar
Mischa Mischa@primal.net 1 week ago
Just like paying with gold isn’t practical for everyday use, paying with Bitcoin directly on-chain isn’t either. That’s why we end up with different trade-offs and approaches trusting companies, using protocols, or mixing both. The main thing that matters is that the on-chain layer can’t be censored and stays decentralised. If we want global payments to work for everyone, in my opinion there’s no way around taking responsibility for those trade-offs ourselves.
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Daedalus's avatar
Daedalus _@daedalus.website 1 week ago
For what we have payment stats for now, today, not some hypothetical future of "mass adoption" we find piss poor lightning adoption. On-chain still smokes, despite much higher fees and slower speed. Maybe one day it'll magically flip? Maybe if Bitcoin is 100% custodial, then we'll see some real lightning UX improvements and efficiency.
Daedalus's avatar Daedalus
Alright I talk about stats a lot so time to bring in the reciepts (note that I don't have X so these are the latest I can find with search engines): ShopinBit: https://x.com/shopinbit/status/1978715781744472132 69% Monero 28.89% Bitcoin 0.19% Lightning This is literally the tagline on the website, they only mention Bitcoin: "A privacy-first service for ordering anything with Bitcoin & crypto, worldwide. No login or extra verification needed" NanoGPT: https://x.com/NanoGPTcom/status/2007149007286554956?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2007149007286554956%7Ctwgr%5Ee2c7e07f527f0d9cb4b05b4fb76f29b0d3f3070c%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnano-gpt.com%2Fblog%2F2025-year-in-review-payment-stats 44% Monero 18% Nano 13% Bitcoin Cant really see it doesn't have a number but maybe 1 or 2% lightning Numbers from December. The website is focused on Nano and offers a 5% discount in Nano compared to all over currencies. Monero still dominates. Coincards: https://x.com/CoinCards/status/1709306835126386976 Latest is only from Oct 3,2023 mind you yet we find: 32.82% Bitcoin 32.22% Monero 2.4% Lightning Woohoo Bitcoin wins! Wait by 0.6% on a site focused and advertised with Bitcoin 2 years ago while bitcoin supposedly has 20x the market cap. Curious to see the stats now. From these stats (ignoring even darknet market dominance) I make the assured and certain conclusion that the free market PREFERS Monero as a medium of exchange. I challenge anyone to refute this I'd love to hear counterarguments or counter evidence most importantly.
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