Monero Time Profile picture
Jan 31 66 tweets 31 min read
1/65 Thread comparing #Monero vs #Bitcoin-#Zcash-#Litecoin 🧵
2/65 It is 4 projects with one thing in common: they are intended to be used as an alternative to fiduciary money. They are also the highest ranked in terms of market capitalization for what they are intended for (digital money)
3/65 To begin I would like to clarify that the Monero codebase has nothing to do with the Bitcoin codebase, the anonymity provided by CryptoNote by design is not possible with the Bitcoin codebase. #ZEC #LTC we were launched with the #BTC code base
4/65 #XMR & #BTC do not have a leader or foundation per se, although most of the current #BTC developers are known, #ZEC & #LTC both have a foundation with known leaders who are not without consequence in the impact of the project management
5/65 Launch date and supply rule:
#XMR block genesis April 18, 2014 – 18.4 million + tail emission
#BTC block genesis Jan 3, 2009 - 21 million
#ZEC block genesis October 28, 2016 - 21 million
#LTC block genesis October 7, 2011 - 84 million
6/65 The 4 projects mentioned were launched fairly and have no premine (although more than 500,000 #LTC were mined during the first 24 hours following a bug in the algorithm)
7/65 #XMR 18.4 million coins has been reached since June 2022 and we have moved to a tail issuance of 0.6 XMR per block (2min) forever this will ensure #XMR sovereignty with revenue to the miner to secure the network in perpetuity and allow of adapt to an ever-growing economy
8/65 #BTC #ZEC #LTC each have a fixed supply cap which will be reached at about the same time for all three around 2140 and which relies on transaction fees to continue to incentivize miners to secure the network
9/65 #BTC for your information currently the income of miners obtained by transaction fees is only 0.3%.
10/65 #BTC so I see 3 possibilities - either the transaction price will explode by around $200 $300 - or they will have to modify the ceiling and that even before the maximum supply because the miners will simply no longer be profitable - either #BTC will die before
11/65 #BTC I don't understand the logic of actively promoting for the adoption of lightning to pay less transaction fees, how the transaction fees will allow the miner to be profitable in this case? If someone can clarify it for me in the comments, I would be delighted
12/65 #ZEC & #LTC also have the same problem in terms of fixed supply, there is no guarantee for the security of their network in the medium and long term
13/65 Namely that the inflation of #XMR is lower than that of #BTC until 2032, and the number of coins in circulation will be lower than #BTC until 2040
14/65 For example, it will take more than 500 years for #XMR to extinguish the fixed cap of 84 million #LTC which will be issued in circulation and which will be reached in approximately 120 years for #LTC
15/65 #XMR inflation is also lower than #ZEC until 2032, #ZEC will reach its cap of 21 million around the year 2140, by which time #XMR will have 38 million coins in circulation
16/65 Personal conclusion : #XMR is superior in terms of supply to ensure security, sovereignty and scarcity at the same time in a perpetual way
17/65 #XMR pow RandomX 11482 nodes
#BTC pow asic 14173 nodes
#ZEC pow asic (transition pos) 7758 nodes
#LTC pow asic (transition pos) 1021 nodes
18/65 #XMR the mining algorithm named RandomX is unique and specifically designed for Monero to allow asic resistance. It is optimized for general-purpose processors and allows mining only by cpu, one processor, one vote
19/65 This helps increase network security and decentralization by increasing the diversity of manufacturers and geographies in mining, such as when China banned mining in April 2021 🥶
20/65 XMR is accessible to everyone, easily minable with your computer, your smartphone and even with your car radio. For your information @hyc_symas is a member of the community who actively participated in the development of RandomX
21/65 BTC mining is dominated by large centralized farms, it requires specific and expensive equipment such as asics, so technically it is far from being as decentralized and egalitarian as Monero!
22/65 Currently #ZEC and #LTC have the same mining algorithm as bitcoin. But #ZEC & #LTC plans to move to proof of work, it reminds me of a time in history when the dollar stopped being backed by gold, whoever can understand.
23/65 Also #ZEC has a withholding tax system on it's minor, 7% raided for electric coin company and 5% to #zCash foundation to ensure the continued development of the chain. 🥶
24/65 Personal conclusion: #XMR wins the battle for decentralization and long-term security. We can discuss this in the comment.
25/65 #XMR fungible
#BTC not fungible
#ZEC not fungible by default
#LTC not fungible by default
26/65 #XMR I don't like to say that Monero is private or anonymous I prefer to use the word fungible because it will come down to caricaturing it but clearly no one can trace payments or collect data on its users, just like cash.
27/65 #XMR anyone who can trace a trade with 100% probability, I'd advise them to run for that $625.00
28/65 #XMR uses several advanced cryptographic systems such as Zero Knowledge Protocol implemented at the base of its protocol which allows it fungibility so that not a single monero can be corrupted or devalued by previous transactions
29/65 #XMR a short list of the 5 main technical implementation
30/65 *Stealth address: hides public transactions by generating unique addresses for each transaction so that your address never appears on the blockchain
31/65 *I let you try 42VcWqKBPKcaamPor6Q7heXahutfTst6STedHoMbyN7dPyDUimhtG7ZTvDgnyoZZ96YsRjJdhWT915w8SMUn4s2SRzFd27x exploremonero.com/search?q=
32/65 *Ring signature: allows a sender's outputs to be grouped with other decoy outputs, so each output becomes plausible deniability.
33/65 *RingCT: hides the amounts, origins and destinations of transactions without the need for trust
34/65 *Bulletproofs: guarantees that a transaction has taken place without revealing its value.
35/65 *Dendelion++ : hides your IP address so that it cannot be linked to a transaction.
36/65 #XMR the technical implementations to achieve strong confidentiality are all synchronized with each other and implemented at the base of the protocol like the mechanism of a Swiss watch and we were approved by the time and tested in battle !!
37/65 #BTC would you be ready to exchange your #BTC with #BTC from a hack and who is blacklisted? I'm sure not, so 1BTC is not equal to 1BTC.
38/65 Hal Finney already saw it arrive in 2009 and knew it would pose a fungibility problem in the future.
39/65 #BTC each transaction is recorded in a public way and can be consulted by all, those who make each btc have a known history and can be discriminated against so #BTC is not fungible.
40/65 #ZEC wanted to solve the bitcoin confidentiality problem, it is a transparent blockchain with optional confidentiality mainly based on a sidechain allowing the user to be anonymized in options.
41/65 #ZEC uses a sophisticated cryptographic protocol called zk snarks, a very promising technology but which still needs to be perfected to obtain a certain scalability
42/65 #ZEC despite the lack of resources on the zk snarks protocol #ZEC managed to implement it on this blockchain and was recognized as having made significant breakthroughs in the world of cryptography
42/65 #ZEC, for example, solved the problem of zk snarks such as eliminating the third-party trust configuration which greatly hindered its decentralization and security.
43/65 #ZEC it also seems to me that they are currently on new tracks to allow scalability to zk snarks
44/65 The major problem of #ZEC and which is not anonymous by default and therefore it can cost you certain problems
45/65 As a result, the traceability of #ZEC is supported by chainalysis blog.chainalysis.com/reports/introd…
46/65 but #ZEC and other crypto are part of the list of foundations that have received donations from the US government🥶 crypto-news-flash.com/zcashs-ecc-con…
47/65 Definitely not something you want to see for a privacy-focused project, and I won't add more to be nice, it should be enough to open your eyes.
48/65 #LTC in 2022 implemented an optional privacy protocol called MimbleWimble as a block extension, users now have the ability to deposit and withdraw litecoin from this MW block extension
50/65 Conclusion : #XMR wins on fungibility and that's why it's the king of privacy and most used today! However #XMR still has room to improve, no crypto is perfect yet!
51/65 (2) #XMR if another technology is time-approved and 100% sure to implement it and will evolve monero be sure we will. The seraphis protocol is designed to allow this!
52/65 (3) Who today can obtain the same credibility as obtained #XMR by paying very expensive since its existence? What crypto today will never bend the knee to the regulator? You can be sure that we never will
53/65 (4) #BTC its insufficient fungibility led to its loss of market share in darknet markets. bitcoinmagazine.com/markets/bitcoi…
54/65 (5) #XMR will completely replace #BTC on the darknet for this, everything is clearly explained here :
55/65 (6) #XMR if one day this fact is broken we will fix it and even that would not be enough for another crypto to gain the credibility of monero and surpass it!!
56/65 (7) #BTC will never become fungible because it has already been captured, believe it or not i don't have time to convince you
57/65 (8) Neither the #ZEC foundation nor the #LTC foundation will venture to implement privacy at the base of the protocol to achieve fungibility by default, they certainly don't want to risk ending up like tornadocash.
58/65 (9) Edward Snowden was part of the founding team of #ZEC👂"you have to implement privacy at the base of the protocol and that's where you see things like monero, I use monero".
59/65 (10) Michael saylor small meme "maybe you need a monero" sorry the thread and long but I felt obliged to put it
60/65 #XMR - ≈ 1000 tps - ≈ $0.007 à $0,05
#BTC - ≈ 7 tps - ≈ $0.10 à 10$
#ZEC - ≈ 27 tps - 0,0001 ZEC fix
#LTC - ≈ 55 tps - ≈ $0.01 à $1
61/65 #XMR ≈ 1000 tps at full capacity, at dynamic block sizes, as more and more transactions are processed on the network, the block size limit slowly increases and the fees slowly decrease. Its only limit and bandwidth.
62/65 #BTC ≈ 7 tps at full capacity, has a fixed block size, this makes bitcoin a no scalable coin, the price of transactions can explode higher when the network is saturated, the more transactions the higher the cost of transactions increased
63/65 #ZEC ≈27 tps at full capacity and has a fixed fee system, which is expensive as I speak to you, the blockchain has been spammed for 6 months by a malicious person who exploded the size of the chain thus making transactions shielded practically unusable
64/65 #LTC ≈55 tps with the same scalability issue as bitcoin because litecoin is a pure fork of it
65/65 Final conclusion : #Monero #XMR IS KING BABY. I await your valuable comments and I'm not sorry if you don't do better.

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More from @MoneroTime

Jan 23
🧵🔥A major update in the Monero protocol is coming and is called Seraphis & Jamtis and will require a fork and this will roll out in 2024.
1/32 Monero plans to adopt a new privacy-focused 4th generation transaction protocol for p2p electronic payment systems called Seraphis (designed specifically for Monero).
2/32 However, due to a different keyframe construction, Seraphis is not compatible with CryptoNote addresses. Thus the current CryptoNote addresses will be replaced at the same time by a new addressing scheme developed specifically for Seraphis which will be called Jamtis.
Read 34 tweets
Jan 7
1/8 🧵 Apparently of people are studying the possibility of creating a stablecoin collateralized by fiat and which respects the privacy of users (anonymous stable coin)
2/8 For this, they want to use ZK-proofs (Zero-Knowledge proofs): Zcash already uses ZKPs
3/8 The authors imagine several types of limits similar to those existing on cash in order to reassure regulators
Read 8 tweets

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