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I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.
zcash is shady
I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.
I used to hold Monero, my issue with it is that it's main use case of anonymity aids the anti-crypto story of crypto being used for money laundering or other illicit activities.
I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.
Zcash has to have privacy enabled by the user. It’s not automatically private. Monero is automatically private.
Halo Arc removes the trusted setup and also sets shielded transactions by default.
ECC also has announced that they intend to work on implementing shielded assests which seem compelling: https://electriccoin.co/blog/zsas-ecc-progress-and-next-step...
One glaring issue is that there seems to be lots of tension between the community and the Zcash foundation (wrt power control).
Earlier quoted context omitted.
Zcash has to have privacy enabled by the user. It’s not automatically private. Monero is automatically private.
To expand on this a little bit, non-default privacy means that use of privacy features becomes de facto suspicious activity, thus rendering them useless. Another issue with Zcash is that it had a trusted setup, which is not an issue Monero has.
That's not a true statement as far as I understand how Zcash works. Right now there are >742K ZEC in the shielded Sapling pool, so there are quite a few people using it and you can not tell their shielded transactions apart.
https://electriccoin.co/zcash-metrics/
> Another issue with Zcash is that it had a trusted setup, which is not an issue Monero has.
Yes, but they took a number of steps to make sure that the ceremony for creating the trusted setup discarded the keys used and there was no one listening in. (they were geographically distributed and destroyed the hardware)
I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, but Monero has been solid for the past 5-6 years that I've been using it. It's completely anonymous, sends quickly, has minimal fees, and it hasn't been as full of cultists as some of the other coins I've seen. I use it to pay for some things and it's always a pleasant experience. I recommend it. The only d…
I'm not really happy promoting a cryptocurrency these days, given that most of them are get-rich-quick schemes, They're get-rich-quick schemes plus money laundering/capital-flight mechanisms. And if you think capital flight is more ethical than a get-rich-quick scheme, I'd like to introduce you to X oligarch on Y continent committing Z poorly publicized genocide. Edit: that said, the way that they facilitate dubious…
Earlier quoted context omitted.
To expand on this a little bit, non-default privacy means that use of privacy features becomes de facto suspicious activity, thus rendering them useless. Another issue with Zcash is that it had a trusted setup, which is not an issue Monero has.
> To expand on this a little bit, non-default privacy means that use of privacy features becomes de facto suspicious activity, thus rendering them useless. That's not a true statement as far as I understand how Zcash works. Right now there are >742K ZEC in the shielded Sapling pool, so there are quite a few people using it and you can not tell their shielded transactions apart. https://electriccoin.co/zcash-metrics/…
https://www.wnycstudios.org/podcasts/radiolab/articles/cerem...
Skip to around 36 minutes for that.
Earlier quoted context omitted.
I don't know how it could resolve the "supporting crime" concern, really. When something is anonymous/private, it's going to be used for things you don't like. It's then all about whether you think the tradeoff is worth it. Personally, I think it is, but I understand how others can have different viewpoints. I think the logical conclusion if you take the opposite stance is that you're against anonymity and/or privacy…
TBH I'm against strong anonymity when it comes to money. Seems like it can amplify harm more than other areas like speech or association.
I'd be curious to hear from Monero fans why one might select it over Zcash? Zcash seems to have stronger security guarantees when shielded transactions are used.
Also, Zcash has optional privacy.
On the other hand, the decoy based privacy protocols Monero uses are not really private at all. https://slideslive.com/38911785/satoshi-has-no-clothes-failu...
Its cryptocurrency, everything is tribal.
The narrative that this type of value exchange will protect people is as easily argued that it will put others at risk. We have institutions for a reason, and nobody living in a free country should desire such an absurdly dangerous means of value exchange.
At least when you exchange physical currency, it's actually physically difficult for a kidnapper or bank robber to handle the actually physical volume of $1M.