Post
Topic
Board Bitcoin Discussion
Re: Realistically does bitcoin have any competition ?
by
brg444
on 21/09/2015, 03:18:40 UTC
It's not like Wall Street would want to use monero for any reason because why should they care about the anonymity of the transactions, and I wouldn't really see Wall Street wanting to put it in the market because, well, they want to keep S & P all fiat based.
 
  
Pretend you and me want to enter a contract that neither of us can back out of, and that we want to keep totally private until a later time.  For example, pretend that we are both mega-entities that believe the price of a certain asset will move soon.  I think it will go up, and you think it will go down.  We know that if the public knows that we are betting it will change the outcome because the public will take sides.  
  
At a later point, we want the ability to reveal the existence and contents of said contract in its entirety, but also need the security that no one will discover its existence before we choose.  
  
The answer is Monero.  
  

My concern for Monero, one I have always expressed, is the likelihood of a sidechain-type service providing equivalent privacy while leveraging Bitcoin's network effect.

I also sat at the privacy related roundtable during last week's Scaling Bitcoin conference and it was mentioned many time that Monero could face the same scaling issues as Bitcoin and possibly worse given the apparent impossibility to prune the chain.

There are ways that pruning can be done by Monero and other CryptoNote coins.

The idea is not theoretical. Boolberry does it today. Monero could do the same thing (or use a similar solution to solve their precise needs)
http://boolberry.org/files/Boolberry_Reduces_Blockchain_Bloat.pdf
http://boolberry.com/downloads.html

Interesting. Thank you.