Thread
Maybe you need a Monero.
"If Bitcoin diverted all of their energy to make itself private and became known as a network of complete and utter privacy, it probably is counterproductive to its own interests, because you don't want the United States government to say Bitcoin is completely private [...]
There's no way you're going to get 100 trillion dollars to flow into Bitcoin if its use case is directly against the interest of a government that it's within, right, so ... you don't want to be that good."
- Michael Saylor (interview with Peter McCormack)
YT
Replies (6)
First step, make a transparent p2p currency that cannot be controlled in a centralized manner nor censored.
Second step, make it adopted by enough people, corporation and governement.
Third step, update the protocole to be 100% private, untracable and anonymous by default.
Humanity win over elite and government control.
I mean
Saylor straight up says in the interview that there's no way adoption will happen if Bitcoin pursues strong privacy.
You think power structures will allow it to happen AFTER they are heavily invested?
We could hardly get Segwit. You think you're going to get Blackrock consensus on a hard fork to allow full chain membership proofs?
You can't update the protocol at that point because the economic nodes will never support that fork.
Devil's advocate: what if we do a hardfork of bitcoin that is private. Every holder gets an equivalent amount of private bitcoin and yes, the institutions dump and crash the price but we have instant wide distribution of a privacy coin. Where does my proposal fail?
if the price is just >0, how are miners incentivized to secure the network?
also re mining it seems inadvisable to continue to do sha256
since hash is likely to be negligable, the network would be trivial to attack
and with no confidence nobody would use the network
and since nobody is using the network it isnt private
maybe its a question of details
wherea would be price end up?
exactly what privacy preserving techniques?
etc
but basically
id say a private version of btc does not make *good enough* tradeoffs to disrupt xmr and zec
Either merge mining with bitcoin or switch to RandomX merge mining with monero.
Benefit would be wide distribution and branding/network effect.
Realistically the price would be quite low.
Monero price reflects the demand for private payments, bitcoin price reflects demand for 21M/infinity. If that turns out to be a gigantic bubble remains to be seen.
