Newcoiner on Nostr: That's an elaborate way to say a whole lotta nothing: 1. Looks like you missed the ...

That's an elaborate way to say a whole lotta nothing:

1. Looks like you missed the fact that the ease of running a full node (which determine the rules of the Bitcoin network) is what determines the decentralization of Bitcoin, not ease in ability to mine it (which is inversely proportional to Bitcoin's value and network security)

2. Again, small block sizes are what keep the network decentralized (since it makes running a full-node as resource-light as possible). The only way you scale Bitcoin without screwing over its base-level security is by using layers built on top of the blockchain. Also, anyone can run a full lightning node on their phones (Phoenix Wallet) and use the Lightning Network self-custodially.

3. On-chain transactions are decreasing probably because more and more Bitcoiners are HODLing and/or using the Lightning network for everyday transactions; Also, I dont see how this threatens security since Bitcoin's game theory, difficulty-adjustment, and ASIC FRIENDLY MINING incentivises miners to always lower costs of mining in any way possible, while also making the network adjustable to market forces.

4. Only an issue if you use shipcoin certificates rather than the real-deal Bitcoin. You are either using real BTC or a shipcoin.

5. There are many ways to make Bitcoin private at the base-layer (coinjoining KYC BTC, acquiring non-KYC BTC, and always breaking the link between the two) as well as make your future activity private at higher layers (using Lightning Network over TOR); and even if by-default, base-layer privacy is that important, then it is highly likely that base-layer privacy will become a future feature of Bitcoin; thanks to its self-evolving nature, consensus model, and networking effects. Monero's sole property might just as well be a future feature of Bitcoin, at the time when Monero becomes obsolete as a currency.