XMR_loving_AnCap

  • 6 Posts
  • 89 Comments
Joined 2 years ago
Cake day: July 2nd, 2023
  • XMR_loving_AnCaptocryptocurrency•The Future of Private Currency Transactions at World Scale Being Spearheaded by Bitcoin Cash
    1·
    16 hours ago

    How wrong or delusional can a video title be? Bitcoin Cash doesn’t get used very much. At least not in all the data points I’m aware of (if there are more that show a different picture please send them to me). OrangeFren and PorcFest are the only datapoints that show real world usage at all and their numbers aren’t great for BCH. Even LTC with MWEB is more of a spearhead then BCH xD But everyone knows that Monero is the true champion that brings scalable privacy to users for years now. And there is no plausible reason that could change anytime soon.

  • XMR_loving_AnCaptoMonero•How BCH Will Make Monero Obsolete - The Bitcoin Cash Podcast
    11·
    14 days ago

    Okay, your comment shows that Monero truely is the one continuing the real cypherpunk legacy. Getting delisted is just a sign that it is dangerous for the elites. The delistings brought us Haveno, a Bisq equivalent. We’re already seeing Haveno havening more volume than Bisq and it’s not even a year old. So the need for centralized exchanges isn’t needed for Monero anymore.

    But okay, let’s play with your idea.

    Monero’s weakest part of privacy gets fixed probably around end of the year (as we then move from ring signatures to full chain membership proofs). Then Monero has pretty much perfect privacy when it comes to cryptography.

    Let’s say BCH can achieve that same level of privacy in a few years. You don’t really specify a time horizon so let’s say 2-3 years? Basically 2 years after Monero’s upgrade?

    When the upgrade for BCH hits, the need for BCH users to swap to XMR most likely won’t be there anymore. But it depends on the actual implementation. To get that privacy you probably need to make at least one normal TX. Which should have a fraction of a penny as fee? In 2-3 years we also most likely have Serai, a decentralized instant swap service where you can also swap BCH into XMR with the fee equivalent of one to two TXs. Atomic swaps also take two TXs worth of TX fees I believe but these take longer for the swap to finish.

    So for BCH users you can either choose to use a privacy token minted on BCH or swap into the most private coin XMR. Either one will most likely cost you only a fraction of a penny.

    For XMR users it won’t really make sense to switch to BCH except for when the vendor doesn’t accept XMR but instead would accept BCH. Which I don’t see anywhere currently. I mostly see Monero overtaking BTC onchain and LN at pretty much any service that accepts both or all three (see the usage volume numbers of ShopinBit, Coincards, OrangeFren, MyNymBox, silentlink and Proxystore)

    https://xcancel.com/shopinbit/status/1912191172740821189 https://xcancel.com/CoinCards/status/1907477293489909882 https://xcancel.com/OrangeFren/status/1913165293615976514 https://xcancel.com/mynymbox/status/1914712805971738701 https://xcancel.com/silentlink1/status/1836839383833391206 https://njump.me/nevent1qqszzpsusyqysljs8dldqhfsnzzshp5x56jvmgzu9ptlantpl8qn6rgprdmhxue69uhkummnw3ezuur0wf6x2mt0dejhymewvdhk6q3qtn0q609j0nzeh0zpxtll5hrwwnr4ulny5kh4jtsat3hqarwvnerqxpqqqqqqz74matc

    I don’t really know what kind of DeFi you’re alluding to but with Haveno and Serai we have two decentralized exchanges that can’t be stopped anymore. Also the FCMP++ (full chain membership proof) upgrade will enable more L2s and such for Monero.

    When it comes to ASICs and network security: BTC has a ~262 times larger marketcap than BCH and a ~233 times bigger Hashrate. So congrats, you guys are technically slightly more secure than BTC in relation to ones marketcap. For Monero the numbers aren’t as easily calculated as it uses a different algorithm but the factors are the following: BTC has a ~375 times larger MC but only needs 206 times as many miners for their respective hashrate. That makes Monero even better secured than BCH in relation to it’s MC.

    So when the time comes for BTC and/or BCH to switch their mining algorithm because quantum computers can break the sha256 hash function, all of the current mining equipment will be useless. That’s gonna be devastating for the miners of BTC/BCH. The miners of XMR only need a software upgrade though ;)

    And last but not least you say BCH wouldn’t need a tail emission. When we look at the relation between the block reward, sum of TX fees and the total reward for miners we can clearly see, that BCH is even worse than BTC. BCH hovers at about 0.1% of the total miner reward coming from TX fees currently with a recent spike to 0.6%. BTC is more in the 1-2% range. Good thing for BCH though is you guys can just scale up the number of TX thanks to dynamic block size. So if BCH wants to keep it’s security budget you guys need a 200-1000x in TX volume or price without increasing the MC or Hashrate. I don’t think an increase in usage comes without an increase in price. So you guys have to live with a drastic increase in TX fees.

    In contrast Monero can just increase it’s user numbers without needing to increase TX fees, as the block reward pays the miners.

    https://bitinfocharts.com/de/comparison/fee_to_reward-btc-bch-xmr.html

    At the same MC Monero is going to give you much cheaper TX while having a higher security level (hashrate per $ of MC) than BTC and/or BCH.

  • XMR_loving_AnCaptoMonero•How BCH Will Make Monero Obsolete - The Bitcoin Cash Podcast
    11·
    14 days ago

    What’s the argument here? BCH is going to have a feature to enable minting a token on BCH with privacy comparable to Monero in a few years?

    Why should anyone switch to this token instead of using Monero? Wouldn’t it take like an onchain TX to switch BCH into this token? Why would I do that if I can already swap into XMR for a negligible fee today?

    And even if it had an equivalent level of privacy, BCH still has no tail emission and no ASIC resistance.

    Also today Monero rivals Bitcoins usage and not BCH.

    So yeah, bold claim, but not much more it seems.

  • XMR_loving_AnCaptoHaveno•What if Haveno trading partner sends different payment currency?English
    1·
    18 days ago

    If your trading partner changes any aspect from the trade you can get an arbitrator involved. That’s why we have a security deposit. The arbitrator then decides if you are getting scammed by the other party in any way and if so you get (part of) their security deposit (and maybe your money back depending on what exactly happened).

    Do not just blindly suck up any fees that weren’t mentioned in the original trade.

  • XMR_loving_AnCaptocryptocurrency•Bitcoin Won’t Put Food on the Table
    3·
    5 months ago

    As much as I like to argue against Bitcoin, this article is stupid or to be more correct the author of this article has no understanding of currency despite claiming to be a senior economist.

    Not crypto (i.e. BTC) is the problem, but the gov/fed printing more $ is.

    Money is just a unit in which we measure how much value one has generated for another person. If the gov prints more of those units they change the scale and basically rob from everyone who uses that scale to store his wealth (say surplus or unused/unclaimed value from other people) in. If now some people start to create a new scale for measuring that value of goods and services like BTC or in our case XMR, we just quit getting robbed a second time by the gov (first time is through paying taxes).