My fundamental argument against monero is that I think it's a worse money than bitcoin. Specifically in these metrics:
- dynamic block sizes mean blocks will get big if monero gets popular
- large blocks are hard and expensive to validate
- validation difficulty discourages everyone except rich people from running nodes
- the people running the nodes control the network
- so if the rich alone run the nodes, the rich alone control the network, which sounds bad to me
- monero also has perpetual inflation, and I think that is a bad idea for the reasons outlined by Gregory Maxwell here: https://bitcointalk.org/index.php?topic=5405755.msg60542558#msg60542558
I will also give you a non-fundamental argument against monero: monero was created to achieve better privacy than bitcoin had at the time, which was a laudable goal. But lightning showed that there's an even better way to do privacy, so adopting monero now would be a step backward. There's better privacy technology available now and bitcoin adopted it via lightning.
Super Testnet
npub1yx…c399s
2025-02-02 00:25:20
Author Public Key
npub1yxp7j36cfqws7yj0hkfu2mx25308u4zua6ud22zglxp98ayhh96s8c399sPublished at
2025-02-02 00:25:20Event JSON
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"created_at": 1738455920,
"kind": 1,
"tags": [
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"content": "My fundamental argument against monero is that I think it's a worse money than bitcoin. Specifically in these metrics:\n\n- dynamic block sizes mean blocks will get big if monero gets popular\n- large blocks are hard and expensive to validate\n- validation difficulty discourages everyone except rich people from running nodes\n- the people running the nodes control the network\n- so if the rich alone run the nodes, the rich alone control the network, which sounds bad to me\n- monero also has perpetual inflation, and I think that is a bad idea for the reasons outlined by Gregory Maxwell here: https://bitcointalk.org/index.php?topic=5405755.msg60542558#msg60542558\n\nI will also give you a non-fundamental argument against monero: monero was created to achieve better privacy than bitcoin had at the time, which was a laudable goal. But lightning showed that there's an even better way to do privacy, so adopting monero now would be a step backward. There's better privacy technology available now and bitcoin adopted it via lightning.",
"sig": "1fd49560d7a180214907c3156dcd0903a9bc4125bf6f881e1bc1c6845b8c4250ba8563f464069d0cf8adaec13b440d75c732e4143aa881dd70b879027215815b"
}