Cryptocurrency

Bitcoin vs Monero (It’s War)



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In this video, I continue my investigation into Monero vs. Bitcoin and examine more trade-offs that Monero has made, in order to increase privacy at the base layer.

In particular, I examine how common hard forks are for Monero, especially compared to Bitcoin. Does this imply that the devs have more control than they should in leading the Monero community? Repeated hard forks could certainly hurt Monero’s potential classification as a digital commodity by the SEC.

My own belief is that a protocol that strives to be money should not be changing things at the base layer/protocol level as frequently as Monero does.

If the future of Bitcoin and Monero transactions ends up being off-chain, Bitcoin may have a big advantage thanks to its head start with Layer 2 solutions like the Lightning Network, eCash (Fedimint, Cashu), and statechains.

I conclude by examining some very interesting tweets by Francis Pouliot which examine the greater context of Monero’s privacy by discussing anonymity sets, as well as the liquidity and saleability of XMR compared to BTC.

To understand the context of this discussion, you should first watch these videos, and read Seth’s and Howard Chu’s responses to me:

“ASIC Resistance” Is Just Plain Silly (Bitcoin vs. Monero):

Monero’s Big Fat Problem:

Response from Seth For Privacy:

Response from Howard Chu (hyc):

Not investment advice! Consult a financial advisor.

Is Your Crypto Collaborating With Government Spy Coins?:

Consensys working on CBDCs:
https://consensys.net/solutions/payments-and-money/cbdc/
https://consensys.net/blog/quorum/envisioning-a-future-of-central-bank-digital-currencies-for-everyone-everywhere/

Pre-history of BitMonero and Monero:
https://monero.stackexchange.com/questions/475/monero-inception-and-history-how-did-monero-get-started-what-are-its-origins-a

Monero likes to do a lot of hard forks:
https://decrypt.co/107441/monero-rolls-out-enhanced-privacy-features-with-hard-fork

Seth’s take on Monero hard forks:
https://sethforprivacy.com/posts/dispelling-monero-fud/#moneros-hard-forks-make-it-centralized

Does Bitcoin privacy require more transactions than Monero privacy?

Is Bitcoin Too Slow To Be The World’s Reserve Currency?

A great way to buy Bitcoin in Canada:
https://www.bullbitcoin.com/

How to annoy a Monero shill:

Francis Pouliot on Bitcoin vs. privacy coins:

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.

#Bitcoin
#monero
#privacy

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34 Comments

  1. Bitcoin University

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  6. jad1497

    The question I had to answer myself was if I'm going to save my money long term, what's the best option. For me, true decentralization, scarcity, and knowing if I save in Bitcoin, it can't change in the future. I believe other layers on top of Bitcoin will solve privacy issues, if the market dictates it.

  7. Ben

    Monero is great for dark web and other activities where you want to hide your identity, it's not a competitor to BTC, it just has other use cases

  10. GeoSco

    Crime is not about what you know

    Its about what you can prove

    In a weed deal, there is no hurt party

    No court case at all

    Can you be a good xmr dealer yes

    Can you be a bad xmr dealer yes

    Intelligence will win, it does exist

  16. jay-man

    I'm about as technical as rubber mallet so appreciate good explainers. Privacy is a fundamental inherent right so for me privacy coins should be as private as physical cash and anything government should open, transparent and Immutable but people should be private.
    Pirate chain ARR claims to have the most sophisticated tech with a strong community that talks gibberish I don't understand, I would really appreciate your viewpoint on this project🙏

  17. Ryan

    the worst thing abt monero is riccardo spagni was caught working for interpol and he potentially hid a backdoor in one of the most popular monero wallets which happens to be a web wallet. lots of stupidity wrapped up in a huge package imo not criticizing the whole project but this particular facet of it

  18. -PE DENTON

    I don't see how BTC is better than XMR when the government or exchange can blacklist a BTC (ie taint). Sound money in the base layer should be fungible like cash or gold. Simple

  19. Robert Lagueux

    Moreno is the first on the list of coins that government wants to ban. It's associated with black market activity. It's allready near impossible to buy on exchange.

  23. user187cos

    @Matthew >> if you try to evaluate the strengths / weaknesses of monero objectively, i am afraid that this corresponds to the monero community mindset.
    not the bitcoin community mindset, which rather disregard critics and censors.

    ( i appreciate your perspective anyway )

  25. Abdul Wahid

    I just don’t understand what this quantum computing threat which you hinted at means for Bitcoin in the future. I heard this elsewhere as well. Can you tell me what does this mean actually?

  26. VEGAN WARRIOR

    NOW THAT'S SOMETHING THE GOV. WILL DEFINITELY GONNA ATTACK AND DESTROY…LMAO CAN MONERO SURVIVE A NATION ATTACK…HELL KNOW. LMAO WHERE'S THE CEO…GOV. IS COMIN. JUST KEEP WATCHING LMAO

  34. Mike

    There is no WAR . Your thoughts only monitaze
    $ your channel. Your divide technologies for finance freedom. Both are good projects.

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