Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
rocks
on 18/05/2015, 21:55:03 UTC
Which puts Monero in the exact same position as Bitcoin then. Bitcoin would have certain transaction types outlawed and Monero would be entirely outlawed. Yet both Monero and Bitcoin would still function and processed the outlawed transactions for people who choose to ignore the (illegal) rules.

And so both maintain fungibility through the exact same mechanism, which is people ignoring governments.  This is why I'll maintain privacy is a matter of usage, but is not a property of money.

I dont think anyone said money needs to be private to be money, Monero is a private form of electronic money from blockchain perspective, Bitcoin is not truly one because all separating anyone from tracing you is them not knowing you own the addresses, create one single exit or entry point with KYC and your entire history of transactions is compromised and you'll never know whos watching and why, think credit card, thats is what Bitcoin is more like, Monero on other hand is setup so that traceability of funds is limited within the scope of a certain organization or government, basically a database of view keys, Bitcoin was setup to be traceable by anyone including their doge. Monero also has better mining algo to difficult ASICS and can SCALE.

Not debating any of that, agree that Monero is more private.

Am debating what are the innate properties that constitute money. For the reasons stated in prior posts I do not consider privacy to be applicable to what makes good or bad money and do not see that as a factor towards driving adoption. The subset of people who need privacy can use both in a manner that achieves it. Regarding "better mining algo", again this is not a property of money I think people who are resorting to these types of arguments to convince themselves that altcoin x is better are kidding themselves.

On the six properties I care about Monero is either the same or worse than Bitcoin. Explain to me how Monero is better on any of those six properties, otherwise you don't have a solid argument that it is better.