Super Testnet on Nostr: > The trade offs are better privacy versus guaranteed supply This isn't a necessary ...
> The trade offs are better privacy versus guaranteed supply
This isn't a necessary tradeoff anymore. Lightning offers better privacy than you can get on monero but still has an auditable supply.
Lightning transactions actually encrypt the sender, recipient, and full amount paid via its adaptation of the onion messaging protocol, the same tech that makes tor work.
Monero transactions do not encrypt the sender but merely obscure them in a set of 16 "candidates." They also don't encrypt the recipient but use "stealth addresses" that are subject to a similar "shared input heuristic" as chain analysts use to trace the bitcoin blockchain. And while monero transactions do encrypt the amount paid, they do not encrypt the "full" amount -- they leave the mining fee unencrypted. That might not sound like a big deal, but watch this chainalysis video about how they trace monero:
They make it clear that the fee paid reveals "fingerprinting" information about the type of wallet used, including whether the sender was a normal user, an exchange, or a miner.
If you want decent privacy, you're better off using bitcoin on lightning than you are with monero.
This isn't a necessary tradeoff anymore. Lightning offers better privacy than you can get on monero but still has an auditable supply.
Lightning transactions actually encrypt the sender, recipient, and full amount paid via its adaptation of the onion messaging protocol, the same tech that makes tor work.
Monero transactions do not encrypt the sender but merely obscure them in a set of 16 "candidates." They also don't encrypt the recipient but use "stealth addresses" that are subject to a similar "shared input heuristic" as chain analysts use to trace the bitcoin blockchain. And while monero transactions do encrypt the amount paid, they do not encrypt the "full" amount -- they leave the mining fee unencrypted. That might not sound like a big deal, but watch this chainalysis video about how they trace monero:
They make it clear that the fee paid reveals "fingerprinting" information about the type of wallet used, including whether the sender was a normal user, an exchange, or a miner.
If you want decent privacy, you're better off using bitcoin on lightning than you are with monero.