Krypricz on Nostr: > Those flaws if you think more deeply are a way of ensuring that no one controls it ...
> Those flaws if you think more deeply are a way of ensuring that no one controls it
https://www.getmonero.org/get-started/what-is-monero/
> to be a firm soil for layers to be built on top of it, and optionality to be totally private is also a way to ensure governments won't totally ban the access to it
Bitcoin was meant to be digital cash hence "Bitcoin: A Peer-to-Peer Electronic Cash System" if it can't do it's primary functions without additional layers on top of it something is wrong.
Lightning is of course a good band aid, but it is just that ... a band aid and have several issues of it's own like centralization and income liquidity
Another function of cash is privacy, in which Bitcoin fails horribly.
Being afraid the government will ban it undermines the entire premise of crypto currencies, we need to be able to transact with whoever we please not whoever pleases the government. The government could ban a crypto but they could never stop it.
> and also a way to show you have the asset
Monero has view-keys to prove your assets
> It also guarantees that all node can see the entire supply , so a inflation bug is not possible .
In Monero coinbase transactions are public so everyone can verify the supply
https://monero.stackexchange.com/questions/11548/how-does-monero-protect-users-from-inflation-bugs-if-the-blockchain-cant-be-aud
https://www.getmonero.org/get-started/what-is-monero/
> to be a firm soil for layers to be built on top of it, and optionality to be totally private is also a way to ensure governments won't totally ban the access to it
Bitcoin was meant to be digital cash hence "Bitcoin: A Peer-to-Peer Electronic Cash System" if it can't do it's primary functions without additional layers on top of it something is wrong.
Lightning is of course a good band aid, but it is just that ... a band aid and have several issues of it's own like centralization and income liquidity
Another function of cash is privacy, in which Bitcoin fails horribly.
Being afraid the government will ban it undermines the entire premise of crypto currencies, we need to be able to transact with whoever we please not whoever pleases the government. The government could ban a crypto but they could never stop it.
> and also a way to show you have the asset
Monero has view-keys to prove your assets
> It also guarantees that all node can see the entire supply , so a inflation bug is not possible .
In Monero coinbase transactions are public so everyone can verify the supply
https://monero.stackexchange.com/questions/11548/how-does-monero-protect-users-from-inflation-bugs-if-the-blockchain-cant-be-aud