this post was submitted on 06 Jun 2024
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Privacy
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So that everyone can see everything, instead of just the banks.
There are advantages. All bribes are visible to everyone.
Hmm why are comments that mention Monero getting down votes?
Couldn't tell you. I honestly don't know enough about Monero to have an educated opinion.
However, I do know Bitcoin and (a bit less so) Etherium from a technical standpoint, and I know those are very popular options, so unless Monero is specified I think it's safe to assume "cryptocurrency" = "Bitcoin" for the most part when talking about the general trends of adoption.
That said, from what I hear, Monero is private, and I have no reason to doubt that. For the record, I'm also not downvoting anyone talking about Monero. I think the Lemmy community in general is just relatively anti-cryptocurrency (and anti most things, honestly).
At least Lemmy community is not anti-GMO, right? Right?
Because Lemmy has an irritional hate towards crypto. Calling it "dead" and a "scam" while the price is breaking records and being officially adopted by several world governments.
Monero? Or which one?
BTC. The price already passed ATH ($70k) and has had ETF approval in the US several months ago, Canada; China coming soon. ETH is up for consideration next. And then there's the fact that several small countries like El Salvador that have already accepted it as their official currency.
But you already knew all of this, so why am I even wasting energy on trolls like you? You people fucking suck. Quit talking shit just cause you're even worse investors than me.
What? I asked one question.
You're right, most cryptos as they exist are open ledgers for anyone to examine. However there are digital currencies where the ledger is not open, and our private by default, such as monero. Truly fungible digital cash.
I've given my thoughts on Monero elsewhere in these replies.
The phrase "truly fungible" is an interesting one. I was going to ask you to elaborate, but if one "coin" is entirely indistinguishable from any other (including by transaction history, or lack thereof) I assume that's what you mean by "truly fungible". Never heard that before, but it honestly makes sense.
Yes, correct
Monero my friend, monero
Never heard of Monero?
Heard of it, but I'll admit I haven't studied it like I have Bitcoin/Etherium.
I think it's fair to label Monero as relatively "fringe" when talking mass adoption, though. It might well be the solution to those problems, but sadly that doesn't account for much if the bulk of society prefers to use a public ledger like Bitcoin.