NewAccount on Nostr: Let's talk about Monero: 1. Bigger block sizes means running full nodes (which is how ...
Let's talk about Monero:
1. Bigger block sizes means running full nodes (which is how you verify the network AND SET THE RULES) will eventually be prohibitively expensive for all except large corporations and governments
2. Mining XMR relies exclusively on CPU power. Since CPU's are abundant and everywhere, it is much easier for corporations and governments to acquire massive amounts of CPU power than it is to acquire massive ASIC power. They could easily acquire far more CPU poer than than what regular folks might have combined.
3. When put together, the conclusion is that as more people use XMR, the more its blockchain will bloat until only governments and corporations can run full XMR nodes, where only they can change the rules of Monero as they please. If that doesn't work, they can also purchase massive amounts of CPU power and permanently do a 51% attack on the network; changing transactions as they like.
4. Since corporations and governments will BOTH own the majority of CPU power in the Monero network AND run the majority of full nodes; they can decide the rules of the network AND use their dominant hash power to change transactions as they please, effectively controlling Monero entirely.
#Bitcoin is the only solution.
1. Bigger block sizes means running full nodes (which is how you verify the network AND SET THE RULES) will eventually be prohibitively expensive for all except large corporations and governments
2. Mining XMR relies exclusively on CPU power. Since CPU's are abundant and everywhere, it is much easier for corporations and governments to acquire massive amounts of CPU power than it is to acquire massive ASIC power. They could easily acquire far more CPU poer than than what regular folks might have combined.
3. When put together, the conclusion is that as more people use XMR, the more its blockchain will bloat until only governments and corporations can run full XMR nodes, where only they can change the rules of Monero as they please. If that doesn't work, they can also purchase massive amounts of CPU power and permanently do a 51% attack on the network; changing transactions as they like.
4. Since corporations and governments will BOTH own the majority of CPU power in the Monero network AND run the majority of full nodes; they can decide the rules of the network AND use their dominant hash power to change transactions as they please, effectively controlling Monero entirely.
#Bitcoin is the only solution.