Bitcoin's base protocol is never going to change, it's become a fundamentalist faith.
this post was submitted on 06 May 2024
17 points (79.3% liked)
Monero
1667 readers
36 users here now
This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
MODERATORS
While I agree, it's not impossible. MimbleWimble has proven itself on Litecoin and it was implemented (I believe) using a soft fork. So just as Ordinals was forced on the maxis, MimbleWimble can be forced on the maxis as a payment channel if the demand is there. Note, MimbleWimble isn't as private as Monero, and the fact that it's possible to know when something goes into and out of MimbleWimble may make you targeted as a "money launderer" makes it risky. But at least its a step forward.
Bitcoin has lost it's status as a viable crypto-currency, starting when ETF's were created, which had the effect of fiatizing what was before immutable, now has adopted all the worst properties of fiat money, the concept of derivatives. Derivatives is simply fakery by large institutions to get the benefit from each unit of money multiple times. These large institutions have a monopoly on this behavior. It is not possible to behave this way on an individual level. Great care should be taken as any potential new crypto-currency intermingles with the existing financial system. The Monero community has the benefit of learning from each mistake made with Bitcoin, and preventing that with it's own digital cash.
Monero getting blacklisted / banned is actually a feature in this sense.
Eventually Monero will ossify and be linked to the existing financial system just like cash and gold. But when it happens it has to be on Moneros terms. Unfortunately bitcoin ossified and got adopted before it became popular. Btc.maxis believe Btc is popular but that is only in comparison with other crypto. If you look at people like rebel capitals on YouTube try to live off crypto outside Europe or the US you see it no crypto is anywhere near usable except perhaps Usdt on tron. That's to Btc, monero has a guide on what not to do.
Edward Snowden,
I've been warning Bitcoin developers for ten years that privacy needs to be provided for at the protocol level. This is the final warning. The clock is ticking.
They don't care because they are paid off by banksters to keep bitcoin useless as money.