Thread - Nostr Hypermedia

Mr. Rockstar, I respect you as a developer, I think you are very talented, and make a good software, however I humbly disagree with you on this. The barrier of entry for privacy are completely different, yes you can use Bitcoin "privately" but the setup to do so usually requires a notable amount of resources, and knowledge to do so, and you have to do it perfectly without flaw everytime. I agree that there are many great tools which enhance user privacy but using each successfully in conjunction is difficult. I think for the vast majority of common people without technical knowledge, and wealth, Monero would be a better alternative as it offers good, if not better privacy for a fraction of the cost when compared to Bitcoin privacy.

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Replies (6)

vinney...axkl vcavallo@vinneycavallo.com 1 month ago

convenience always comes at a cost, as i know you understand. one suggestion for the 'cost' of monero's privacy conxenience is gresham's law in reverse. yea you can hold the hardest money that will displace all others and swap to monero for private transactions (i personally think this is rather great and wallets like StackDuo are nice), but now you're starting to move away from the simple '1step' sidewalk meme you posted - stepping away from convenience... and once you're doing that you might as well consider cashu and see where that nets out in the tradeoffs between privacy/custody/money-hardness. the disclaimer here is that i am a fan of monero. but the tradeoffs are not as simple as you claim.

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Jordan S Jordan@nostr.land 1 month ago

Right now for the next 16 years, Monero could be considered the harder money, as the monero rewards granted for mining are now gone. It has a supply of 18.4 million, and is only CPU minable which theoretically is a more difficult task since the hardware isn't specialized for mining. Tail emissions offset lost coins, and incentivize miners to maintain the network. Personally, I see utility over theoretical value. And swapping usually tends to be the vulnerability in opsec. For me obviously, I wouldn't be buying anything that requires good opsec but I'd prefer to maintain transaction privacy as a given principle rather than as an assumed luxury.

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ChanceOfDizzySpells chanceofdizzyspells@fountain.fm 1 month ago

E-Cash.

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Jordan S Jordan@nostr.land 1 month ago

To use E-Cash Privately, you would first have to accomplish the first two layers privately, and self-hosted. Acquire KYC-Free Bitcoin, use silent payments, coinjoins, and payjoins, self-host, open, and manage your own lightning channels, then open a e-bank, etc. 🙃. Additionally, you'd have to swap back, and forth between various softwares since there isn't a software that I'm aware of that offers full privacy tools for all 3 layers. Cake Wallet, Zeus, and Peanut Wallets (Cashu wallets) are the closet tools that I'm aware of that do a fraction of each layer but I'm not aware of a self-hosted method that does all three in one app.

vinney...axkl vcavallo@vinneycavallo.com 1 month ago

what's the 16 years about?

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Jordan S Jordan@nostr.land 1 month ago

Right now given current protocol rules, and estimated block time, under Monero's current fork tails emissions produce 0.6 every two minutes, of course this could change in the future, however under the current rules, and projections it's estimated the monero won't pass 21 Million coins in supply until around 2040, which is about ~16 years from now.