Because Bitcoin is not 'anonymous' and it is traceable and it never guaranteed privacy features in its whitepaper unlike privacy coins like Monero, MobileCoin, Grin and Zcash?
Did you read the article?
Why is Bitcoin losing the dark-net markets?
21–30 of 39 posts
Re: Why is Bitcoin losing the dark-net markets?
#22Re: Why is Bitcoin losing the dark-net markets?
#23Privacy, like encryption, really needs to be convenient to be effective at scale. While you certainly can achieve good enough privacy with Bitcoin, it's cumbersome as you need to jump through several hoops and it'd rady to make a single mistake that makes it all moot. That's why all these opt-in solutions are doomed to failure, and the best (and only) solution is privacy-by-default like Monero does. And the auther is…
would it be accurate to say due to design shortcomings both in security and transaction processing, bitcoin shouldn’t be the top cryptocurrency in the next 5-10 years?
Re: Why is Bitcoin losing the dark-net markets?
#24Re: Why is Bitcoin losing the dark-net markets?
#25Privacy, like encryption, really needs to be convenient to be effective at scale. While you certainly can achieve good enough privacy with Bitcoin, it's cumbersome as you need to jump through several hoops and it'd rady to make a single mistake that makes it all moot. That's why all these opt-in solutions are doomed to failure, and the best (and only) solution is privacy-by-default like Monero does. And the auther is…
would it be accurate to say due to design shortcomings both in security and transaction processing, bitcoin shouldn’t be the top cryptocurrency in the next 5-10 years?
Technically Bitcoin has already been surpassed.
But "top cryptocurrency" generally refers to the marketcap, which is almost entirely speculation driven, and speculation doesn't seem to care much about fundamentals. Just look at what other crap people speculate heavily in...
So your guess is as good as mine on how long it will take for reality to catch up with Bitcoin.
Re: Why is Bitcoin losing the dark-net markets?
#26Privacy, like encryption, really needs to be convenient to be effective at scale. While you certainly can achieve good enough privacy with Bitcoin, it's cumbersome as you need to jump through several hoops and it'd rady to make a single mistake that makes it all moot. That's why all these opt-in solutions are doomed to failure, and the best (and only) solution is privacy-by-default like Monero does. And the auther is…
would it be accurate to say due to design shortcomings both in security and transaction processing, bitcoin shouldn’t be the top cryptocurrency in the next 5-10 years?
IMO, yes. Not necessarily because it has deficiencies, but because it is not trying to progress and move things forward and the community consensus mechanism is broken.
Re: Why is Bitcoin losing the dark-net markets?
#27Privacy, like encryption, really needs to be convenient to be effective at scale. While you certainly can achieve good enough privacy with Bitcoin, it's cumbersome as you need to jump through several hoops and it'd rady to make a single mistake that makes it all moot. That's why all these opt-in solutions are doomed to failure, and the best (and only) solution is privacy-by-default like Monero does. And the auther is…
would it be accurate to say due to design shortcomings both in security and transaction processing, bitcoin shouldn’t be the top cryptocurrency in the next 5-10 years?
Bitcoin will always be there as the basis of everything else.
It proves by staying relevant for the duration of the time it exists and everything else is experimentation on top of a working concept.
Think it as a network layer as in Bitcoin being the IP protocol that just needs to be boring to be stable.
Re: Why is Bitcoin losing the dark-net markets?
#28Is it? Haven't used Dark Net Markets in a while but I just logged onto the largest market according to Dread, and it looks like Bitcoin is not just widely accepted but the market default currency.
> but I just logged onto the largest market according to Dread, and it looks like Bitcoin is not just widely accepted but the market default currency
DPR lives on? Well, the legend played out how it was intended to.
Re: Why is Bitcoin losing the dark-net markets?
#29Is it? Haven't used Dark Net Markets in a while but I just logged onto the largest market according to Dread, and it looks like Bitcoin is not just widely accepted but the market default currency.
> but I just logged onto the largest market according to Dread, and it looks like Bitcoin is not just widely accepted but the market default currency DPR lives on? Well, the legend played out how it was intended to.
Dread is a Reddit clone specifically for Dark Net Markets. It was created just before Reddit banned the DarkNetMarkets subreddit.
Re: Why is Bitcoin losing the dark-net markets?
#30Earlier quoted context omitted.
would it be accurate to say due to design shortcomings both in security and transaction processing, bitcoin shouldn’t be the top cryptocurrency in the next 5-10 years?
Bitcoin will always be there as the basis of everything else. It proves by staying relevant for the duration of the time it exists and everything else is experimentation on top of a working concept. Think it as a network layer as in Bitcoin being the IP protocol that just needs to be boring to be stable.
> Bitcoin will always be there as the basis of everything else.
This is already disproven by the claims of the article, where Monero is outcompeting Bitcoin due to Bitcoin's traceability.
And privacy-by-default cannot be added on top of Bitcoin, it just cannot be done.
This idea that Bitcoin will succeed as a boring base layer, and everything will be built on top, is just a lie people tell themselves.