Reed on Nostr: I share your distaste for larps and cucks so understand the sentiment. Just disagree ...
I share your distaste for larps and cucks so understand the sentiment. Just disagree with where the energy is pointed.
Nice so we agree that the majority of wealth should be stored in on chain Bitcoin. It’s the only way to protect yourself against certain debasement.
The disagreement is in how to spend small amounts of your wealth. Any of the options comes with downside:
-Self custodial lightning -> technical barrier to entry running your own node (with the exception of Phoenix Wallet and a couple others) and the need for good privacy hygiene to not dox yourself
-Custodial lightning -> requires trust and good privacy hygiene, but very low barrier to entry.
-Liquid Bitcoin -> requires trust in the Federation. This is better than trusting a single custodian. Does not require knowledge of privacy, only more adoption.
-Whirlpool -> I agree this is expensive and would not use for spending. Only cleaning KYC coins if you happen to have them.
-Monero -> risk of being debased, no need for knowledge of privacy but need to learn about mechanics of a second currency.
I will also say all of the Monero wallets I’ve tried take a very long time to sync.
Tradeoffs. I personally know how to acquire and spend Bitcoin privately, so never have the need for Monero.
For the masses, we’ll see; the market will figure that out. I’m glad there are options and the trend towards private-by-design tech is increasing.
Nice so we agree that the majority of wealth should be stored in on chain Bitcoin. It’s the only way to protect yourself against certain debasement.
The disagreement is in how to spend small amounts of your wealth. Any of the options comes with downside:
-Self custodial lightning -> technical barrier to entry running your own node (with the exception of Phoenix Wallet and a couple others) and the need for good privacy hygiene to not dox yourself
-Custodial lightning -> requires trust and good privacy hygiene, but very low barrier to entry.
-Liquid Bitcoin -> requires trust in the Federation. This is better than trusting a single custodian. Does not require knowledge of privacy, only more adoption.
-Whirlpool -> I agree this is expensive and would not use for spending. Only cleaning KYC coins if you happen to have them.
-Monero -> risk of being debased, no need for knowledge of privacy but need to learn about mechanics of a second currency.
I will also say all of the Monero wallets I’ve tried take a very long time to sync.
Tradeoffs. I personally know how to acquire and spend Bitcoin privately, so never have the need for Monero.
For the masses, we’ll see; the market will figure that out. I’m glad there are options and the trend towards private-by-design tech is increasing.