Elephant in the root on Nostr: It's not that much about block capacity (which is determined by Internet capacity, ...
It's not that much about block capacity (which is determined by Internet capacity, btw) but more about a computation. In Monero it'd roughly quadratic, in bitcoin it's linear. (I'm simplifying, it's not about precise numbers.)
If you want privacy on LN you need to use appropriately private solution. Complaining about shitty LN wallets is dishonest because shitty wallets exist for Monero too (sending the view key to a server). Side note: trampoline routing was specifically invented to protect sender's privacy. You're confusing it with something else.
Another Monero issue: if you repeatedly (at least twice) get your xmr from the same source that knows your identity (e.g. KYC exchange) and then use it to buy something from the same entity (e.g. dark market) and the data of the receivers leak (feds close the market) then it's possible for your money source (or whoever coerces it to hand over the data, e.g. feds) to track you down with extremely high probability. This vulnerability doesn't exist in LN. (I'm assuming in both cases you withdraw coins to your wallet first.)
The key difference between LN and Monero is if LN leaks only some entities get the information. Monero is stored onchain forever (e.g. the edge case above) which is quite ironic since Monero fans were criticizing Bitcoin for precisely this reason.
The incentive to steal on LN is pure fantasy. The thief is risking loss with quite high probability. And funnily enough, there exists incentive to trick thieves into attempting to steal because that results in reward. Thus it's safer to not steal.
I also don't get the obsession with hot wallet issue. Whether you lose money on LN with some low probability or to Monero inflation with certainty doesn't really matter much.
I don't understand why you replied to me replying to you saying that LN has bugs by pointing out that Monero has bugs too with mentioning Bitcoin has bugs too. You said it already. Everything has bugs, let's focus on design instead.
The irony in LN is that "public" channels are actually private and "private" are actually public. And whoever claims that 99% of channels are public is pulling it out of their ass because nobody sees how many private channels exist. And "public" also means "involved in routing", so you're contradicting yourself.
Monitoring LN is much more costly and complicated than people imagine. The attacker must provide many high-quality nodes that actually provide good service.
Also it seems you've fallen prey to another myth about onchain opening/closing transactions leaking stuff. It effectively doesn't. The information is super scrambled by the time you close channel, nobody can tell shit from it.
Finally, I don't understand your rhetoric. You mention that you want privacy for yourself but at the same time you're mentioning "most people". Which is it? "Most people" will never use Monero anyway, so why bother with them? Better onboard them on LN even with shitty wallets because they at least increase the anonset. 🙂
Published at
2024-12-23 11:03:15Event JSON
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"content": "It's not that much about block capacity (which is determined by Internet capacity, btw) but more about a computation. In Monero it'd roughly quadratic, in bitcoin it's linear. (I'm simplifying, it's not about precise numbers.)\n\nIf you want privacy on LN you need to use appropriately private solution. Complaining about shitty LN wallets is dishonest because shitty wallets exist for Monero too (sending the view key to a server). Side note: trampoline routing was specifically invented to protect sender's privacy. You're confusing it with something else.\n\nAnother Monero issue: if you repeatedly (at least twice) get your xmr from the same source that knows your identity (e.g. KYC exchange) and then use it to buy something from the same entity (e.g. dark market) and the data of the receivers leak (feds close the market) then it's possible for your money source (or whoever coerces it to hand over the data, e.g. feds) to track you down with extremely high probability. This vulnerability doesn't exist in LN. (I'm assuming in both cases you withdraw coins to your wallet first.)\n\nThe key difference between LN and Monero is if LN leaks only some entities get the information. Monero is stored onchain forever (e.g. the edge case above) which is quite ironic since Monero fans were criticizing Bitcoin for precisely this reason.\n\nThe incentive to steal on LN is pure fantasy. The thief is risking loss with quite high probability. And funnily enough, there exists incentive to trick thieves into attempting to steal because that results in reward. Thus it's safer to not steal.\n\nI also don't get the obsession with hot wallet issue. Whether you lose money on LN with some low probability or to Monero inflation with certainty doesn't really matter much.\n\nI don't understand why you replied to me replying to you saying that LN has bugs by pointing out that Monero has bugs too with mentioning Bitcoin has bugs too. You said it already. Everything has bugs, let's focus on design instead.\n\nThe irony in LN is that \"public\" channels are actually private and \"private\" are actually public. And whoever claims that 99% of channels are public is pulling it out of their ass because nobody sees how many private channels exist. And \"public\" also means \"involved in routing\", so you're contradicting yourself.\n\nMonitoring LN is much more costly and complicated than people imagine. The attacker must provide many high-quality nodes that actually provide good service.\n\nAlso it seems you've fallen prey to another myth about onchain opening/closing transactions leaking stuff. It effectively doesn't. The information is super scrambled by the time you close channel, nobody can tell shit from it.\n\nFinally, I don't understand your rhetoric. You mention that you want privacy for yourself but at the same time you're mentioning \"most people\". Which is it? \"Most people\" will never use Monero anyway, so why bother with them? Better onboard them on LN even with shitty wallets because they at least increase the anonset. 🙂\n",
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