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In this video, I discuss Monero’s growing issues with blockchain bloat (caused by ring signatures and other privacy features), as well as its vulnerability to an attack by a hired army of CPUs.
By contrast, Bitcoin seeks to keep the blockchain as small as possible, while still preserving security, in order to keep the node network as decentralized as possible.
If Monero ever achieved widespread adoption, the blockchain bloat would become intolerable. Commercial mining of Monero would also take off and eclipse Monero home miners.
When it comes to engineering and real life, there are always trade-offs. Bitcoin has chosen not to embrace better privacy at the base layer for very good reasons.
Monero will never catch up to Bitcoin. This suggests that more members of the Monero community should defect to Bitcoin (like Seth For Privacy already did), and help us build better privacy on top of Bitcoin.
Not investment advice! Consult a financial advisor.
“ASIC Resistance” Is Just Plain Silly (Bitcoin vs. Monero):
Monero monthly blockchain growth:
https://localmonero.co/blocks/stats/blockchain-growth
J&J Snack Foods:
https://finance.yahoo.com/quote/JJSF?p=JJSF&.tsrc=fin-srch
https://en.wikipedia.org/wiki/J%26J_Snack_Foods
Howard Chu (hyc):
Tweets by hyc_symas
https://www.monerooutreach.org/stories/RandomX.html
My discussion thread with hyc:
I very well might be a moron, Howard, thank you. I have a lot of respect for the Monero community and its commitment to privacy. So maybe you can enlighten me how Monero has greater security guarantees than BTC. Isn't it easier to rent an army of CPUs than an army of ASICs?
— Matthew R. Kratter (@mattkratter) April 20, 2023
Zcash blockchain getting spammed:
Somebody's having fun spamming the zcash blockchain and tripling its size to over 100 GB. Rough estimate is that this attack is costing them ~$10 a day in transaction fees. pic.twitter.com/D8EB1niju3
— Jameson Lopp (@lopp) October 5, 2022
https://blockchair.com/zcash/charts/blockchain-size
Binance admits that Zcash has a company behind it:
https://www.binance.com/en/news/top/7227711
https://www.crunchbase.com/organization/electric-coin
Looks like Electric Coin has been issuing unregistered securities to fund itself:
https://electriccoin.co/blog/funding/
Crypto and the Howey Test:
https://decrypt.co/125761/crypto-projects-must-reckon-with-sec-howey-test-for-securities
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#monero
#bitcoin
#zcash
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