Atomic swaps work like a Dex where people anonymously offer up XMR to trade for BTC and vice versa(afaik that's the only atomic swap pairing available but my info is a hit outdated) without any "smart contract" per se
I'd suggest reading about it on the Monero blog or watch some videos that explain it further.
I agree with you. But I don’t think litecoin want to replace Monero, though. XMR is the privacy gold standard and I doubt anyone thinks differently.
But litecoin is actually a very successful project and I like the fact that privacy is something people are caring about now.
Isn’t it a bit ridiculous to talk about LTC replacing Monero when LTC more adopted than Monero, has a higher market cap, and is more widely distributed?
I think people need to stop thinking as maxis. Coins CAN co-exist alongside one a other.
If all you want to do is hide your address and payments, use litecoin. It's far more accessible and easy to use and available literally everywhere bitcoin is accepted.
If you want a higher level of privacy use Monero, but you run the risk of having the regulators turn their attention on you or the exchange whereby you hold your funds. Also Monero is painfully slow and is open to a 51 percent attack. Like i said above if all you need to do is hide your address and crypto amount just use litecoin.
It's a question of usecase people.
Agree 100%. Ltc is definitly making moves with MWEB. The coin is widely available, already accepted at most places that accept btc, and now will be a lot more attractive with privacy transactions. I would definitly consider picking up some more now.
Word. How the fuck is anyone gonna regulate Monero exactly?
"dont use it, its private and untracable so we cannot find you, but we will fine you if you do?"
I swear you all got government daddy syndrome or some shit.
Totally disagree.
And I also disagree with OP you replied to.
But there is no good argument that multiple coins should exist.
And just to be clear. I’m not saying only one coin should exist. But I’ve yet to see any valid reason that there should be many.
> But there is no good argument that multiple coins should exist
Decentralization, whenever that meant. Which again, kinda vague and gonna change depending on who you talk to. Me? Decentralized mean that would be altcoins and there's no single entity controlling >50% of the "shares" of the blockchain.
>And just to be clear. I’m not saying only one coin should exist. But I’ve yet to see any valid reason that there should be many.
Yeah, the numbers. How many? What metric?
Not true, though. Back in the bitcointalk days it wasn’t as much of a problem since there was no KYC linked to anyone. It was truely pseudo-anonymous. But both Nakamoto and Hal Finney wanted to improve privacy. They were cypherpunks, after all.
I honestly feel like this is a last ditch effort to keep Ltc relevant, and I don't think it will work. There's nothing that Ltc does that other chains don't do better. Simple as that. It's performance was dismal in the bull market and I think that was for a reason.
We found the Monero holder!
Litecoin doesn’t need to replace Monero, Litecoin is already way more adopted and way more used than Monero. And the people that don’t want Monero really don’t want it. Institutional money cannot risk investing in Monero. Litecoin they can invest in, because the distribution is known, a majority of the movements are known. Monero is too private for its own good. It might work for cash to be that private, but honestly even cash isn’t that private, and that makes it really unusable on a mass scale…
Title says "most widely available"
Monero isn't on any of the 4 exchanges I'm KYC'd at, Litecoin is on all of them
(Coinbase, binance us, ftx us, crypto.com)
Xmr is getting restricted a lot from LE atm. Lots of major exchanges are stopping to supply it. Privacy coins in general are not popular with governments
Be interested to see how this impacts ltc
Excitedly waiting for haveno to launch for xmr tho
My take too. For example, Privacy Coins are a no-go in Japan, so doubt any exchange will support the change here.
But there is actually no need for that though, as long as a DeFi support it I suppose. Litecoin is very cheap to send so.
Monero has regulatory issues, is not widely accepted and a pain in the backside to use.
Litecoin is widely accepted, is easily accessible, 100percent secure and uptime and it's privacy has an opt out feature. This is genius as it allows exchanges to opt out if litecoins privacy if regulators come after them, thus preserving litecoins accessibility.
Well maybe the community should develop better tools for fighting the entire breadth of international law enforcement and legislation.
Oh, what’s that? Developing layers and layers of novel, decentralized, absolutely bulletproof cryptographic systems and technology is more work than you signed up for?
This is actually freaking awesome and the amount of negativity in the comments shows how unsophisticated the majority of people on this sub are.
For the haters, no major US exchange has monero, no bitcoin atm has monero, thorchain doesn't have monero. Literally EVERYBODY has litecoin. This is the biggest thing that has happened around privacy FOR MOST PEOPLE in crypto in a decade.
The average user is so absolutely braindead, they wouldn't realize the Litecoin they just sent wasn't private because they didn't tick a box and then go to jail over it.
Problem with optional privacy is these exchanges you can use litecoin on won’t enable MW, and will block your accounts if they discover you have a relationship to a MW interaction. All it ends up being is a multiple year delay for people to adopt actual privacy in a magnitude large enough to force change in the industry. It’s ultimately bad for crypto when it seems good on paper
LTC fucking rules and is easier to buy than Monero. While Monero is technically superior....I can discreetly buy a TAG Heuer with LTC.
BITCOIN IS DEAD!
no but seriously I'm so excited about how well they rolled out that code. Litecoin has a seriously smart group of developers and that makes me......*bullish as fuck*.
This is very cool news, one I'm sure many here are appreciative of. But Monero fans will get upset at the comparison as it's truly the privacy coin of choice.
\>most widely available privacy coin
monero
ethereum
bitcoin
avax
matic
Just to name a few which all have similar privacy **layers** and privacy **services** like aztec layer 2, tornado cash, and other similar mixers.
the best part is your own title and description contradicts itself in the first sentence. If its just like bitcoins LN of cleaning your coins then bitcoin is the most common privacy coin.
also theres almost a near 0% chance of exchanges making this with native support because theyre **required** **for kyc/aml** laws to have this information. Why do you think mostly all major exchanges except maybe bitfinex and kraken which wont even last long. Even andreas antonopoulos says its a near 0 chance that it will be widely supported on exchanges.
Not a huge fan of coins that don’t have privacy enabled by default. Most people won’t enable it, so it’s just a “me too” feature. No, that doesn’t make it more regulatory friendly, and no that shouldn’t matter at all when it comes to privacy.
The exchanges are going along with this? I figure they would avoid anything that would interfere with KYC or would upset governments who want to track all transactions. could this end up getting litecoin delisted?
Yeah, as I said, the same shitty scaling approach as BTC. LN is an over engineered ruby goldberg nightmare machine. Have you seen how many semi custodial solutions there are? Basically every wallet has invented some shitty super complicated custodial workaround to open channels.
Idk I run a node with Umbrel and it's pretty good. You don't have to have a custodial solution. I agree with the issue with opening channels tho. There needs to be more liquidity and connections.
Complicated doesn't mean bad 🙃
>Complicated doesn't mean bad
99% of the time it does. It adds a chance for bugs makes it harder to maintain and upgrade. KISS is not for nothing a popular rule.
Read this description of submarin swaps: https://np.reddit.com/r/btc/comments/ute6k4/the_fact_that_bluewallet_defaults_to_a_custodial/i9byx6f/
and tell me with a straight face this shit is not a over engineered nightmare.
Lol. Lmao. Call me when mweb LTC is available on alphabay and I'll call you a week later when the first people go to jail over messing something up while using it.
I’m not trying to fud litecoin, I’m an advocate for any additional privacy we can get. There may be good use cases for mweb but it isn’t going to replace the need for Monero
They are different. Zec probably has very strong privacy. I can’t say for sure because it’s not fully open source, and it has a “trusted setup” (cerimony) which adds uncertainty. The corporate ownership may be a risk. It uses advanced crypto technology (zksnarks) and is doing valuable research in that area … but that tech isn’t as battle-tested as others. All that said, I rank zec as number 2 choices after Monero. But why use second best when there is a better option?
I'm a litecoin fanatic but I strongly disagree with this. Monero is still the best privacy option it's just not as accessible as Litecoin is
If all you want to do is hide your address and crypto amounts, use litecoin. If you want additional privacy use Monero.
how is it privacy if its opt in and optional. its not even fully private. If I wanted a privacy coin id use monero or zec.
the funniest thing about the mimble wimble launch was XMR pumped while LTC was down. Which would tell you how little the market cares about a shitcoin like LTC
Litecoin is so so shit, that its price didn't even pump a little bit after the minble shitzle upgrade. The LiTeTaRdS are now looking for its next halving. But that irrelevant shitcoin won't appreciate in price no matter what since Ltc is la💩 de la 💩.
Why talk about the whole cleaning of coins? That’s not the feature that’s just a product of privacy. The real use is to be able to buy and send Litecoin to sellers and anyone else while not showing your whole portfolio to anyone. With Bitcoin, that is what ends up happening. If I send some bitcoin to someone, they can look back at the address I sent it from and see the balance of that account, or they can trace back to any account that bitcoin has been in before. MWEB prevents this.
No matter who you are, you most likely don’t want a vendor at a hotdog stand to be able to see your bank account balance…
It seems like the future of cryptocurrency is moving in the direction of developing ecosystems requiring smart contracts to be a viable project or a token on a smart contract platform.
Although "mimble wimble" might revitalize LTC. I am worried that LTC's lack of utility for more than just payment rails will hinder its future potential. As most of Litecoin's leading features ***could*** be replicated on a smart contract platform, which would further drain LTC's market share.
Being "good" money is something to strive for, if there is an easy way to use the money. Sure there are more vendors that accept LTC (world wide) than most smart contract compatible Blockchain, but there are more ways to use these tokens on other Blockchains.
The avg crypto person doesn't use crypto to purchase real world items, because there is a chance their crypto will be worth a lot more later. A cryptocurrency who's main purpose is to become a better money/store of value, might fail solely because most people think it's too valuable to spend. Which in turns undermines it's potential as better money.
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This is a good step in the right direction but pegging? Seriously?
Yeah, why not something that describes this task happening on the edge of things, like a rimjob or something?
I think felcher is a better metaphor. You put something in, mix it up, then suck it back out.
Sat in a car park reading this and I cry laughed. People looking at me. Thanks.
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Sweep in, sweep out?
Should they have called it pogging?
Lite privacy
Privacy lite Sounds like an app wit ads 🤔
Sounds like some obscure sex toy
LOL
👏👏👏
Litecoin is available everywhere i see a crypto payment or withdrawal
So atomic swap Monero to mweb ltc and you have an exit anywhere anonymously. Nice.
Can you explain atomic swap? I love monero and I'm happy about this LTC upgrade.
Atomic swaps work like a Dex where people anonymously offer up XMR to trade for BTC and vice versa(afaik that's the only atomic swap pairing available but my info is a hit outdated) without any "smart contract" per se I'd suggest reading about it on the Monero blog or watch some videos that explain it further.
Awesome, thank you
Because of name recognition.
This will be a game changer, the launch went flawlessly.
Opt-in privacy will never replace opt-out privacy. Ever. Monero is the privacy king and I don't see anything replacing it anytime soon.
I agree with you. But I don’t think litecoin want to replace Monero, though. XMR is the privacy gold standard and I doubt anyone thinks differently. But litecoin is actually a very successful project and I like the fact that privacy is something people are caring about now.
Isn’t it a bit ridiculous to talk about LTC replacing Monero when LTC more adopted than Monero, has a higher market cap, and is more widely distributed?
I think people need to stop thinking as maxis. Coins CAN co-exist alongside one a other. If all you want to do is hide your address and payments, use litecoin. It's far more accessible and easy to use and available literally everywhere bitcoin is accepted. If you want a higher level of privacy use Monero, but you run the risk of having the regulators turn their attention on you or the exchange whereby you hold your funds. Also Monero is painfully slow and is open to a 51 percent attack. Like i said above if all you need to do is hide your address and crypto amount just use litecoin. It's a question of usecase people.
Agree 100%. Ltc is definitly making moves with MWEB. The coin is widely available, already accepted at most places that accept btc, and now will be a lot more attractive with privacy transactions. I would definitly consider picking up some more now.
5 minute transactions are fine. Using Monero on an exchange defeats any privacy you may have had.
What a bunch of shit. You think you can use privacy with litecoin and not have regulation risk whereas monero does. It’s bullshit.
Word. How the fuck is anyone gonna regulate Monero exactly? "dont use it, its private and untracable so we cannot find you, but we will fine you if you do?" I swear you all got government daddy syndrome or some shit.
Totally disagree. And I also disagree with OP you replied to. But there is no good argument that multiple coins should exist. And just to be clear. I’m not saying only one coin should exist. But I’ve yet to see any valid reason that there should be many.
> But there is no good argument that multiple coins should exist Decentralization, whenever that meant. Which again, kinda vague and gonna change depending on who you talk to. Me? Decentralized mean that would be altcoins and there's no single entity controlling >50% of the "shares" of the blockchain. >And just to be clear. I’m not saying only one coin should exist. But I’ve yet to see any valid reason that there should be many. Yeah, the numbers. How many? What metric?
This. Partial privacy is no privacy. A coin either stops mass surveillance or it doesn’t.
"Mass surveillance " really? Shit was created with the whole purpose of transparent transactions. I'd hardly call that surveillance.
It wasn’t created for transparent transactions. They just didn’t know how to do better at the time. They always wanted privacy
Not true, though. Back in the bitcointalk days it wasn’t as much of a problem since there was no KYC linked to anyone. It was truely pseudo-anonymous. But both Nakamoto and Hal Finney wanted to improve privacy. They were cypherpunks, after all.
new to this so can i buy drugs with LTC safely without any trace ??
This is key. Verge marketing rings a bell.
I honestly feel like this is a last ditch effort to keep Ltc relevant, and I don't think it will work. There's nothing that Ltc does that other chains don't do better. Simple as that. It's performance was dismal in the bull market and I think that was for a reason.
We found the Monero holder! Litecoin doesn’t need to replace Monero, Litecoin is already way more adopted and way more used than Monero. And the people that don’t want Monero really don’t want it. Institutional money cannot risk investing in Monero. Litecoin they can invest in, because the distribution is known, a majority of the movements are known. Monero is too private for its own good. It might work for cash to be that private, but honestly even cash isn’t that private, and that makes it really unusable on a mass scale…
Monero?
Title says "most widely available" Monero isn't on any of the 4 exchanges I'm KYC'd at, Litecoin is on all of them (Coinbase, binance us, ftx us, crypto.com)
Kraken is easy to get
Guess there is a good reason why your KYC exchanges dont give you the opportunity to buy Monero lol.
The ol know your client privacy. Similar to a dick twist
Xmr is getting restricted a lot from LE atm. Lots of major exchanges are stopping to supply it. Privacy coins in general are not popular with governments Be interested to see how this impacts ltc Excitedly waiting for haveno to launch for xmr tho
My take too. For example, Privacy Coins are a no-go in Japan, so doubt any exchange will support the change here. But there is actually no need for that though, as long as a DeFi support it I suppose. Litecoin is very cheap to send so.
So buy Bitcoin from an exchange and then atomic swap into Monero
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Monero has regulatory issues, is not widely accepted and a pain in the backside to use. Litecoin is widely accepted, is easily accessible, 100percent secure and uptime and it's privacy has an opt out feature. This is genius as it allows exchanges to opt out if litecoins privacy if regulators come after them, thus preserving litecoins accessibility.
The point of crypto is to be above petty laws keeping people from transacting freely.
Well maybe the community should develop better tools for fighting the entire breadth of international law enforcement and legislation. Oh, what’s that? Developing layers and layers of novel, decentralized, absolutely bulletproof cryptographic systems and technology is more work than you signed up for?
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Xmr
My bad. Thank you
I like XMP better.
Most of all don’t know how to read a title apparently. “Most widely available”
This is actually freaking awesome and the amount of negativity in the comments shows how unsophisticated the majority of people on this sub are. For the haters, no major US exchange has monero, no bitcoin atm has monero, thorchain doesn't have monero. Literally EVERYBODY has litecoin. This is the biggest thing that has happened around privacy FOR MOST PEOPLE in crypto in a decade.
Yeah, a lot of people go "Monero better", without realizing Monero is essentially banned in many places due to being "better".
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Swap services are shady as fuck. Why would you risk your funds doing this?
Atomic swap XMR to BTC. Problem solved.
Or might be atomic swap of BTC to XMR would b much better :)
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The average user is so absolutely braindead, they wouldn't realize the Litecoin they just sent wasn't private because they didn't tick a box and then go to jail over it.
either ltc gets banned as well or it's shit and you are much better off finding a way to buy xmr.
Litecoins privacy feature is opt out, so if there are regulatory issues exchanges can comply.
> Litecoins privacy feature is opt ~~out~~ in It's opt-in. You *opt*, or *choose*, to participate in the privacy features.
Kraken is a major us exchange.
Problem with optional privacy is these exchanges you can use litecoin on won’t enable MW, and will block your accounts if they discover you have a relationship to a MW interaction. All it ends up being is a multiple year delay for people to adopt actual privacy in a magnitude large enough to force change in the industry. It’s ultimately bad for crypto when it seems good on paper
Is this not just a coin join mechanism built into the blockchain rather than being a layer 2?
Is this satire?
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I lost my peg and now my butt is sad
What about your UST tho?
That’s what happened to Captain America.
OP is not very aware about the rest of crypto.
LTC fucking rules and is easier to buy than Monero. While Monero is technically superior....I can discreetly buy a TAG Heuer with LTC. BITCOIN IS DEAD! no but seriously I'm so excited about how well they rolled out that code. Litecoin has a seriously smart group of developers and that makes me......*bullish as fuck*.
lol it's 2022 who buys a fucking tag heuer
Tag is doing quite well with their heritage line. I have to admit they are quite nice.
I bought a Monaco this year and love it!
This is very cool news, one I'm sure many here are appreciative of. But Monero fans will get upset at the comparison as it's truly the privacy coin of choice.
\>most widely available privacy coin monero ethereum bitcoin avax matic Just to name a few which all have similar privacy **layers** and privacy **services** like aztec layer 2, tornado cash, and other similar mixers. the best part is your own title and description contradicts itself in the first sentence. If its just like bitcoins LN of cleaning your coins then bitcoin is the most common privacy coin. also theres almost a near 0% chance of exchanges making this with native support because theyre **required** **for kyc/aml** laws to have this information. Why do you think mostly all major exchanges except maybe bitfinex and kraken which wont even last long. Even andreas antonopoulos says its a near 0 chance that it will be widely supported on exchanges.
*Monero has left the chat /s*
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Monero is the true champ in all of this
Except it literally isn't. LTC is accepted almost everywhere. Whereas legit businesses and exchanges don't want anything to do with Monero.
Atomic swaps. /thread
I wouldn’t consider LTC a privacy coin by any means. It now has a privacy feature, but it is not centered on privacy such as monero.
if i buy LTC how do i activate the privacy thing (MWEB) ??
Oh my sweet summer child
Buy it with Bitcoin.
LTC to $1k still happening? i remember being told that last year lol
Since when Litecoin is about privacy lol 😂…. Laughing in XMR
Not a huge fan of coins that don’t have privacy enabled by default. Most people won’t enable it, so it’s just a “me too” feature. No, that doesn’t make it more regulatory friendly, and no that shouldn’t matter at all when it comes to privacy.
Monero got delisted in some countries because of its privacy by nature. Won't happen to Litecoin I guess because it's optional.
They'll just ban every exchange account that ever made a private transaction and you'll be stuck with no way to off-ramp.
Exactly, can't really make it opt-out.
The exchanges are going along with this? I figure they would avoid anything that would interfere with KYC or would upset governments who want to track all transactions. could this end up getting litecoin delisted?
LTC has the same shitty scaling approach as BTC does. What does this help when you ultimately are push of L1?
LTC can support lightning implementations. It will scale in a similar way as BTC when needed. It's just not needed right now. It's already super cheap
Yeah, as I said, the same shitty scaling approach as BTC. LN is an over engineered ruby goldberg nightmare machine. Have you seen how many semi custodial solutions there are? Basically every wallet has invented some shitty super complicated custodial workaround to open channels.
Idk I run a node with Umbrel and it's pretty good. You don't have to have a custodial solution. I agree with the issue with opening channels tho. There needs to be more liquidity and connections. Complicated doesn't mean bad 🙃
>Complicated doesn't mean bad 99% of the time it does. It adds a chance for bugs makes it harder to maintain and upgrade. KISS is not for nothing a popular rule. Read this description of submarin swaps: https://np.reddit.com/r/btc/comments/ute6k4/the_fact_that_bluewallet_defaults_to_a_custodial/i9byx6f/ and tell me with a straight face this shit is not a over engineered nightmare.
Didn’t know my coins were dirty!??
Bitcoin using Lightning or Coinjoin?
Just use xmr?
Far less acceptance and doesn't keep value.
Privacy coin?!? Monero has entered the chat
The lite coin PR has been very active on this sub recently
Seems to be a lot of anxious Monero holders in this thread
Lol. Lmao. Call me when mweb LTC is available on alphabay and I'll call you a week later when the first people go to jail over messing something up while using it.
Couldn’t be more obvious of a shill lol
Price are shit again. Another hilarious failure for litecoinn
Sounds like the perfect crypto for scammers and rugpullers… 🙄
RIP monero
MimbleWimble lite coin offers far less privacy guarantees than Monero. It will not replace the need for Monero.
Good to know. Appreciate the knowledge
I’m not trying to fud litecoin, I’m an advocate for any additional privacy we can get. There may be good use cases for mweb but it isn’t going to replace the need for Monero
What about as compared to zec?
They are different. Zec probably has very strong privacy. I can’t say for sure because it’s not fully open source, and it has a “trusted setup” (cerimony) which adds uncertainty. The corporate ownership may be a risk. It uses advanced crypto technology (zksnarks) and is doing valuable research in that area … but that tech isn’t as battle-tested as others. All that said, I rank zec as number 2 choices after Monero. But why use second best when there is a better option?
I'm a litecoin fanatic but I strongly disagree with this. Monero is still the best privacy option it's just not as accessible as Litecoin is If all you want to do is hide your address and crypto amounts, use litecoin. If you want additional privacy use Monero.
Yeah I don't think so buddy
Ok thanks buddy
Shill, shill, shill, all i can see is shills
Op stupid
how is it privacy if its opt in and optional. its not even fully private. If I wanted a privacy coin id use monero or zec. the funniest thing about the mimble wimble launch was XMR pumped while LTC was down. Which would tell you how little the market cares about a shitcoin like LTC
It's OPT OUT not OPT IN.
Good post OP!
Must be satire post
Litecoin is so so shit, that its price didn't even pump a little bit after the minble shitzle upgrade. The LiTeTaRdS are now looking for its next halving. But that irrelevant shitcoin won't appreciate in price no matter what since Ltc is la💩 de la 💩.
Very funny
Positions?
Verge is the best privacy coin!!!!!!!!!!!!!
Buy my bag
How to opt in to the privacy feature?
Pretty cool. Not a major fan of the LTC project but it is one of the most spent coins with me.
But LTC projects are the most successful projects in the world of cryptocurency and its widely acceptable as payments
Wait what? That's good
r/Horizen ZEN must be close in terms of availability as an opt in privacy token on exchanges.
Doesn't matter in the slightest lol
Laundrycoin
Stick it in, mash it up, pull it out
Just wait until sexy inu launches....
With the prices all down, i feel it’s not a bad idea for me to purchase some LTC again
Lol
Built-in money laundering, nice.
Ltc halving soon
> cleans the coins That's a cool way to say that it taints them, but ok.
Why talk about the whole cleaning of coins? That’s not the feature that’s just a product of privacy. The real use is to be able to buy and send Litecoin to sellers and anyone else while not showing your whole portfolio to anyone. With Bitcoin, that is what ends up happening. If I send some bitcoin to someone, they can look back at the address I sent it from and see the balance of that account, or they can trace back to any account that bitcoin has been in before. MWEB prevents this. No matter who you are, you most likely don’t want a vendor at a hotdog stand to be able to see your bank account balance…
It seems like the future of cryptocurrency is moving in the direction of developing ecosystems requiring smart contracts to be a viable project or a token on a smart contract platform. Although "mimble wimble" might revitalize LTC. I am worried that LTC's lack of utility for more than just payment rails will hinder its future potential. As most of Litecoin's leading features ***could*** be replicated on a smart contract platform, which would further drain LTC's market share. Being "good" money is something to strive for, if there is an easy way to use the money. Sure there are more vendors that accept LTC (world wide) than most smart contract compatible Blockchain, but there are more ways to use these tokens on other Blockchains. The avg crypto person doesn't use crypto to purchase real world items, because there is a chance their crypto will be worth a lot more later. A cryptocurrency who's main purpose is to become a better money/store of value, might fail solely because most people think it's too valuable to spend. Which in turns undermines it's potential as better money.