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Opened Sep 24, 2025 by Rodney Healey@rodneyhealey5
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Monero Maximalism: Or, how Bitcoin is A 💩coin


Most normal folks hear the phrase "cryptocurrency" and assume that implies that they're "cryptic" or "non-public," however that's actually a huge, maybe the hugest misunderstanding of our time and it has some large consequences. The "crypto" in cryptocurrency merely comes from its cryptographic nature. In terms of precise privateness, cryptocurrencies are an unmitigated disaster: All transactions and wallet balances are easily viewable on the essentially public blockchain. But here is the thing: Every foreign money in human history has been totally private, so we have no other comparable disaster situation to even examine this to. American dollars are centrally financially controled, however we are able to transact without that being public data. Even when using a Visa or Mastercard with your financial institution, Visa or your financial institution might know of the transaction, nevertheless it is not broadcast publicly to your complete world like Bitcoin or other cryptocurrencies. Bitcoin is due to this fact a singular privateness catastrophe that we won't even anticipate.


No cryptocurrency is broadly used enough as an actual forex for people to actually really feel the burn of this, but this opens up enormous liabilities for every human on the planet. You may suppose the American dollar is a NWO/Satanic/Mark-of-the-Beast currency that may take away your freedoms, but let me inform you that Bitcoin as it's is way worse! Your private finances, revenue and checking account is necessarily public data. Each enterprise's expenditures and payroll are actually necessarily public info. Everyone on the planet knows how a lot everyone makes and know what suppliers every business transacts with. Trade secrets and techniques are a factor of the previous. Worker privateness is a factor of the previous. Shopper privacy is a thing of the past. Everyone knows how a lot cash everybody spends all over the place else. Even giving cash to mates for favors or Herz P1 Experience help is visible to the IRS. This makes simple micromanagement and taxation of even minor issues that won't be plausibly taxable now.


Almost every privateness law is rendered unenforceable and ineffective by Bitcoin. No sane particular person would volunteer to reveal all their financial institution accounts, transaction histories, spending habits and thereby bodily movements for no reason to every authorities and enterprise on the planet. But when you employ most cryptocurrencies, that is strictly what you are doing. It is going to be even worse. Dropping private privateness is one factor. Perhaps you don't even thoughts a world where eveyone is constantly "doxxed" and bombared with perfectly targetted ads a là Minority Report. Extra vital than that's systemic privateness. In a system with glass partitions like Bitcoin, criminals, governments, companies and regulatory businesses understand that it is very straightforward for them to abuse and exploit folks. Expect the utmost amount of extortion, the maximum amount of taxes on more and more mundane issues and the utmost quantity micromanagement. While you might not be able to think about in your thoughts's eye all of the horrible issues that may happen with a totally monitorable forex, needless to say, it will include what are, in effect, indescribable Lovecraftian monsters from the blackest Stygian depths.
wikipedia.org


Bitcoin is the other of freedom. It is giving a carte blanche to all of the world's worst individuals to prey on innocents. Monero (also known by its ticker "XMR") is an exception to this. Monero is a digital foreign money that has the blockchain technology of Bitcoin, however has in its core very smartly designed tech to maintain the transactions on this public blockchain completely opaque. It takes what we've realized from Bitcoin and makes a complete challenge that may operate, in actual fact is functioning in actual life. P1 fitness ring signatures to protect sender privacy. All transactions are jointly signed by not simply the actual sender, but ten different addresses. Security by obscurity and plausible deniability. Stealth addresses to guard receiver privacy. Instead of 1 deal with on the blockchain, you technically have a different deal with for every single transaction and solely by your personal view key are you able to see that they're yours.


Herz P1 Smart Ring confidential transactions to obscure the amount sent. None of this means any complication for the user. Monero works just like any other cryptocurrency and if you utilize the default graphical Monero wallet, it's simply as simple to use Electrum or one thing else for Bitcoin. Monero is commonly portrayed as being subversive as a result of it's coming to completely substitute Bitcoin on the dark internet for illegal transactions. It often has a reputation related to these potentially criminal purposes it could be used for (identical factor with Bitcoin before blockchain monitoring grew to become a science). Rather more evil could be done with public transactions than non-public transactions: they may cause blackmail, rumors, gossip-mongering, witchhunts, stalking and targeted robberies and attacks. Seasoned criminals know tips on how to juggle Bitcoin and other non-cryptic cryptocurrencies to avoid compromising privateness; regular people don't and might fall prey to a few of the worst issues simply by utilizing Bitcoin for normal things in regular ways. At the top of the day, it isn't Monero that's bizarre or subversive or niche, it's Bitcoin and all other cryptocurrencies.

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Reference: rodneyhealey5/rodney2024#96