this post was submitted on 19 Mar 2024
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Privacy
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Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
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I use it on a regular basis. I also run a non-profit that funds open source tools for scientists, it makes accepting donations a lot easier for us among other benefits for our donors (they don't have to pay capital gains on the coins they donate, just like stocks).
Bitcoin is pretty incredible and offers decent anonymity which continues to improve, Monero offers more. Lots of scams in the "crypto world", but Bitcoin has faithfully kept its fiscal policy promises for 15 years:
Monero's privacy features can be absorbed into the Bitcoin protocol whenever Bitcoin decides it wants to, that is the biggest long-term risk to Monero IMO. That and centralization of block production due to increased block size. Bitcoin worked around this block size problem with L2s like lightning, Monero chose bigger blocks though of course it could always add an L2 if it wants to.
"Monero’s privacy features can be absorbed into the Bitcoin protocol whenever Bitcoin decides it wants to"
I think that's the biggest flaw in your thinking. Monero has this built-in from the start and everyone using it knows it and supports this approach. It affects how legislators can manipulate the coin because they can't, it will keep on living. It already affects the true value of the coin with all privacy included, because you can see how exchanges are unwilling to list it or are delisting it if they already did so, so there are no (or hardly any) institutions or billionaires manipulating the price because of the high risk factor of losing their money. You're forgetting that people in power nowadays are brainwashing us to accept that a wanting a fundamental right like privacy equals you're doing criminal activity or have plans to do so. There are A TON of reasons why bitcoin will never include such strong privacy features, because there are so many factors that influence this decision to make it possible, and the dominant reason you see that matters to btc holders (or any other crypto token for that matter) is NUMBER GO UP. Privacy is not a number go up reason. So it's not a tech issue, it's a people issue