Now that's done with, I don't like #AnCaps but that doesn't mean anyone's off the hook for ableism.

And yes, #Bitcoin  and #Ethereum :ethereum: are worse than #PayPal  and #Cash...

IMHO #Monero  is the least worst in terms of #payment because it's battle-hardened and with a 7+ figure bounty on it's security (by the #IRS alone!) one can assume that'll stay this way for tue time being...
@sollee @asei_sano @harkl @aruiz

@kkarhan @asei_sano @harkl @aruiz Monero is quite nice, tbh even as an Ethereum maxi, Ethereum needs to step up its game with privacy solutions

I'd say that plain Ethereum mainnet is bad for payments, but rollups + escrow can get the same functionality as PayPal while maintaining censorship resistance (I'm building something related to this actually, coming out soon™️ !)

@sollee @asei_sano @harkl @aruiz TBH, #Ethereum failed when #TheDAO was #backrolled as #SmartContract and thus #Buterin and other massive stakeholders showcased their capability to undo stuff they don't like.

Which makes them a liability I'd not count on...
https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=7173s

@sollee Compare that to #TraditionalFinance where if one were to sent me money linked with drugs or terrorism chances are I'd never even notice it because my bank automatically widthholds transactions to comply with laws.

So unless I were to complain about missing a [widthheld transaction] I'd not even be questioned.

But on #Ethereum and #Bitcoin  this doesn't happen and thus it's easier to stick some dirt onto someone than planting drugs onto someone's car and then framing them...

@kkarhan

That sounds like a defect in a legal system, not Bitcoin.

If a cop can bust down my door over something I literally didn’t do, the problem there is the cop, not the something.

@sollee

@kkarhan

In a chain without privacy (post? no, simultaneous) the evidence of innocent is obvious and out in the open and incontestable.

That’s a feature.

YES if you want to hide your transactions then don’t use a system that puts everything out in the open. That’s just common sense.

But like anything else on the internet, or in normal life, a person might decide that convenience or value or whatever else outweighs privacy for some transactions, and from time to time will make that trade.

The open ledger proves innocence in this case. That has value!

@sollee

@volkris @kkarhan Personally, I believe privacy is quite important and if we want to prove our transaction history to certain entities we can use proving tools or hand over secret view keys (Monero).

Despite it potentially being able to prove innocence in, say, a legal dispute, I'd say the tradeoffs outweigh the benefits here as government could mandate the use of open ledgers, and then this could lead to authoritarian surveillance for a million years

@sollee

Right, so that’s a matter of personal valuation.

For a person who values privacy highly, they should not use Bitcoin. But for a person who’s not so interested in privacy, Bitcoin is fine.

These are matters of personal valuation, so the tradeoffs will or won’t outweigh based on the individual’s personal priorities.

@kkarhan

@volkris @sollee I don't think #privacy should be the reason for or against it.
#Bitcoin  and #Ethereum's inefficiencies make them completely useless and gross waste of energy in the size of Argentina when it comes to it's power consumption.

There is no legitimate reason to use or support #ASIC-based #Mining or even accepting #Cryptocurrencies that do so as even ignoring the wastefulness of #Energy they create far more excess #pollution with their #eWaste aka. once the Hardware is old.

@kkarhan @volkris the merge

ethereum no longer uses huge amounts of power & is more secure now