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Guaranteed Crypto Loss.
(www.citizen.org)
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this post was submitted on 28 Oct 2024
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Eh, if you use the Lightning network, Bitcoin is quite private, provided you don't close the channels you use.
That said, I agree that Monero is a lot more reasonable than Bitcoin for actual transactions. I don't see a point in holding Bitcoin, Monero is much better suited to making everyday purchases because transaction costs are low and privacy features are solid. Yeah, it can be used for crime, but so can cash, so I don't think that has any bearing on whether a currency has value.
Two big issues with lightning network are that channels appear to get force closed for no apparent reason and most lightning wallets are custodial lightning and so you don't actually have control over your money and doing it in a self sovereign way is quite difficult for the vast majority of people
Right, but it can be used privately, which is my point.
But yeah, I think Monero is the better option for the reasons you mentioned, as well as the development focus being on private transactions, whereas Lightning is about fast, cheap transactions. So Monero is absolutely my preference for purchase transactions.
Monero is also just quite a bit easier since it is on layer one where lightning is a layer two solution and introduces more complexity.