21seasons on Nostr: If there's a starting point where two persons wants to use the hardest asset which ...
If there's a starting point where two persons wants to use the hardest asset which offers strongest assurances and highest protection for value preservation as a store of value (bitcoin).
If they then want to use Monero as a privacy tool for sending some of that value between each other, how would that practically work?
1. At first the sender would probably need to convert BTC to XMR
2. Sender sends XMR to recipient
3. Recipient converts XMR to BTC
In my view there's quite a lot of problematics what comes to privacy preservation for example in phases 1 and 3 where one would probably need rely on 3rd party services. Then there's economic (fees) and UX (exchange, dealing with different protocols etc.) perspectives.
Monero's technology is interesting, and of course if we could use it to send directly satoshis between each other, that would definitely change things and be cool, but as far as I understand, that's not (yet?) possible.
If they then want to use Monero as a privacy tool for sending some of that value between each other, how would that practically work?
1. At first the sender would probably need to convert BTC to XMR
2. Sender sends XMR to recipient
3. Recipient converts XMR to BTC
In my view there's quite a lot of problematics what comes to privacy preservation for example in phases 1 and 3 where one would probably need rely on 3rd party services. Then there's economic (fees) and UX (exchange, dealing with different protocols etc.) perspectives.
Monero's technology is interesting, and of course if we could use it to send directly satoshis between each other, that would definitely change things and be cool, but as far as I understand, that's not (yet?) possible.