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What do you think about Monero? I agree Bitcoin has big privacy problems but Monero seems to solve them. The other downside to Monero is it's proof of work, wh
by octopoc 5y ago
What do you think about Monero? I agree Bitcoin has big privacy problems but Monero seems to solve them.
The other downside to Monero is it's proof of work, which means it needs lots of power to mine. I suppose the ideal crypto would have privacy like Monero and be proof of stake, but proof of stake is still in its infancy.
- RealityVoid 5y agoLet me be clear, I have nothing against the ideea of cryptocurrencies. I think they are a great ideea and... Full disclosure, they have been _ridiculously_ profitable for me. But, the way every one tags the cryptocurrency world with their ideology is tiresome and silly. Cryptocurrency is a profoundly capitalistic ideea, and it comes with all the warts of capitalism. Bitcoin is really well thought of from a game theory point of view. Satoshi had brilliant insight in what money is. I'm just not convinced that crypto will necessarily make the world a better place. It's going to simply be different, with different tradeoffs. Monero is interesting, but its privacy is also an advantage and disadvantage. I am a big fan of Ethereum, personally. It's much more alive, much more dynamic, and actively responds to poignant critics of crypto, as opposed to BTC, which to me sounds way more religious than I'm comfortable with.