Crypto Gems

Should You Use Monero for Privacy?

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In this Bitcoin Q&A, Andreas discusses the pros and cons of using Monero vs Bitcoin for privacy.
This question is from the November 2021 Livestream Q&A:

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  1. He doesn't even know what he's talking about. If you run naked in the streets with million other people it won't make you not naked. Blockchain analytics will find you in seconds no matter how much people are around you.

  2. XMR offers the most privacy, and I appreciate Andreas talking about it. He's right, though. Bitcoin has more liquidity and is more useful as a currency.

  3. btc<->xmr atomic swaps are already!! this practically means you don't have to make a choice as you can just swap in and out according to your needs seamlessly.

  4. Huh? What anonymity set in Bitcoin? You mean bigger liquidity but whats the point if its on a public ledger? Chainanalysis can trace trough mixings no matter how much liquidity there is. Over time they will always demix coinjoins if they want.

  5. Lol what? The btc whole chain is visible to everyone. The participants dosen't matter when it's a surveillance coin.

  6. The more people switch to Monero, so to will it become the store of value coin. There is no value in the whole world knowing your balance and entire transaction history. People waking up to this will cause the flip.

  7. Your argument is "because more people use bitcoin, bitcoin is better for privacy" ?? That is not a valid argument. Monero is true privacy money.

  8. Almost all of us are currently under an authoritarian nightmare. So yea, XMR is it then.

  9. "Bigger anonymity set" of Bitcoin is completely irrelevant – the total transparency of the crowd makes the size of the crowd irrelevant – Chainalysis and others like them made any attempts at BTC anonymity obsolete.

  10. I’ve never heard of this Minero mostly because I refuse to look into shitcoins but all the comments got me curious then I went over to my exchange and it turns out it’s been banned from one of the major exchanges in Australia (coin spot ) because it has no liquidity? I really don’t know what that means but I’m really confused why he is here comparing a shit coin to bitcoin especially when that shit coin has been banned from a major exchange?

  11. I couldn’t even find such a thing on my exchange as Monero? WTF are you comparing a bitcoin with a shit coin?

  12. Can monero scale like bitcoin? Or does privacy get in the way for auditing custodians or in the way for lightning type contracts?

  13. Monero has risks of undetectable inflation bugs, forever. This is why it will never come close to Bitcoin in terms of being a store of value. Such an inflation bug could be happening right now in Monero and no one would know.

  14. , coin join is traceable and for trace bitcoin the number of “participants “ it’s a non important factor

  15. you fool! analyzing bitcoin data is nothing in comparison to analyzing all of your data im the internet, and guess what?

    the governments can analyze all your data easily!

    the only thing monero has as an advantage is the cryptography

  16. Imagine if someone had invented a fungible, private version of BTC, faster and cheaper to use than BTC, with anonymous, private transactions. That would be epic wouldn't it. That would be Epic Cash

  17. saw a video today on reddit of you talking about bitcoin back in 2013 to a near empty room. Post is going viral heh kinda funny. You sir are a legend. Greek too, like me.

  18. I have no trouble at all with XMR liquidity. But it is not accepted for payment many places true enough. So a minimum privacy hit and cost way to convert some of your XMR to bitcoin when needed for exchange/purchases would seem a good target.

  19. Anonymity set in bitcoin is bigger? I don't understand. What anonymity set? Wouldn't you need bitcoin to be anonymous in the first place to consider the anonymity set? Or are you saying specifically about the users who are using CoinJoin? The clear direction the bitcoin network is going towards to is that a very big proportion of its transactions are made by completely known entities due to forced, imposed KYC worldwide. It's now trivial to put names and faces to UTXOs. This is one of the very few times where the answer actually made me more confused…

  20. No country is benign. They and kill anyone without recourse. Bitcoin has no place in the world except for the legacy financial system.

  21. Definitely check out Epic Cash, 2019 version of what BTC strives to be, with true privacy baked into the layer 1. Fundamentally sound through and through

  22. All you need to do to make this video up-to-date is substitute ARRR for XMR. Then you have total privacy. BTC is totally transparent, every coin's history is an open book and therefore not fungible. No thanks.

  23. There is only one true private coin out there and that is EPIC Cash.

  24. Bitcoin is a trap, it makes the rich richer. Just run the numbers. After more research I have realized bitcoin is not a store of value at all. It is just a means to transact with people you do not know at a distance. It was never meant to make people rich and it is accelerating the collapse. I used to wonder why they were not attacking bitcoin at the government level and I realized it in the last 6 months. They want people to move away from things of real value (physical goods). Anything digital is controlled by governments. XMR is the only crypto that you can trust IMO and I believe this because they have went to great lengths to stop it. The elite are trying to get the masses to move away from gold and silver for a reason.

  25. What about Offshift XFT? Their mainnet should be live end of this month and they bring privacy on ETH L1, seems like a good compromise?

  26. Hi Andreas! A question I can't wrap my head around: What prevents "hackers" from generating random private keys (since keys are just large numbers)? Why can't I go ahead and generate a random private key (+public key with it) and find out if there is existing bitcoin locked with it? If I find there is, I can "steal" it (because I have the private key). And repeat this billions, trillions of times. Why aren't people doing this? Is it not possible?

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