Let me reformulate:
Why screw around with on chain [...] when an off chain [...] solution. (sic)
[...] Why? You are putting information about your identity on a PUBLIC LEDGER!!
[...]
More importantly, why are you doing it when there are other options?
Having stuff on a public ledger is obviously a requirement for anything that is based on a decentralized consensus.
That is a pathetic argument.
It isn't a pathetic argument.
One of the advantages of a distributed ledger is that it is broadcast. Thus it is impossible to tell who is reading it. That adds a lot of anonymity right there, compared to solutions that involve some sort of routing. Because any sort of routing is a big red arrow pointing right at you. A lot of the snake oil coins rely on randomizing a bunch of stuff ("pick random nodes!") and claim that works because it sounds secure to non-experts, but without carefully thinking about the range of possible attacks such as sybil attacks or economic attacks on the nodes.
A distributed ledger system by its effectively broadcast nature removes even the possibility of any or all of these "nodes" being compromised.
Why would you risk it?
I am asking the same thing? Why would you risk it. Cryptonote is a ticking timebomb.
"One of the advantages of a distributed ledger is that it is broadcast. Thus it is impossible to tell who is reading it. That adds a lot of anonymity right there"
Really smooth? No that is NOT adding anonymity to transactions.
Look how Jl777 approached it with BTCD, not on the chain.
Neos not on the chain. ETC ssd, ETC