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r/CryptoCurrency
203
Posted by
Platinum | QC: CC 21, BTC 22
5 months ago

PSA, Litecoin is now the most widely available privacy coin.

Litecoin upgrade was 2 days ago called MWEB that allows you to send private transactions and clean your coins by sending them to an extension block (kind of like lightning network) which mixes all the transactions and addresses together and cleans the coins, and then sends them back to a public address.

Before the upgrade, LTC just used to have regular blocks where all addresses and transactions were public, just like Bitcoin. The upgrade created a separate section, called the extension block, where you can send coins to an address on that piece of the network and all the addresses, transactions, and coin amounts are invisible.

Sending into the private portion is called "pegging coins in" and putting them back on the public address is calling "pegging out". so when you look at the LTC block explorer, all you see on the private blocks, is just one TX at the end showing how many coins total are currently on the MWEB network and nothing more

It hasn't happened yet but there are rumors of exchanges moving to support the new address system making it the easiest to use and most widely available privacy coin available

if you want to clean coins, or just send money privately, LTC is cheap and available

211 comments
77% Upvoted
level 1
Comment removed by moderator · 5 mo. ago

3 more replies

level 1
· 5 mo. ago
Bronze | QC: CC 16

This is a good step in the right direction but pegging? Seriously?

41
level 2
· 5 mo. ago
Platinum | QC: XLM 983, CC 94 | Politics 65

Yeah, why not something that describes this task happening on the edge of things, like a rimjob or something?

25
level 2
· 5 mo. ago
Bronze | QC: CC 22

Sweep in, sweep out?

2
level 2
· 5 mo. ago
Altcoiner

Should they have called it pogging?

1
level 1
· 5 mo. ago
Silver | QC: CC 534, BTC 70, ARK 25 | NANO 61

Lite privacy

45
level 2
· 5 mo. ago
Platinum | QC: CC 42

Privacy lite

Sounds like an app wit ads 🤔

14
level 1
· 5 mo. ago
We Shall HODL

Litecoin is available everywhere i see a crypto payment or withdrawal

28
level 2
· 5 mo. ago
Platinum | QC: CC 154, XMR 78 | Superstonk 238

So atomic swap Monero to mweb ltc and you have an exit anywhere anonymously.

Nice.

8
level 2
· 5 mo. ago
Platinum | QC: CC 762 | ADA 6

Because of name recognition.

1
level 1
· 5 mo. ago
Silver|QC:CC232,XLM64,LTC50|CelsiusNet.30|TraderSubs36

This will be a game changer, the launch went flawlessly.

19
level 1
· 5 mo. ago
Platinum | QC: CC 1209 | Technology 18

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.

106
level 2
· 5 mo. ago
Privacy is a right | XMR

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.

19
level 2
· 5 mo. ago
Cryptocurrency Analyst

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.

42
level 2
· 5 mo. ago
Platinum | QC: CC 27 | SC 8

This. Partial privacy is no privacy. A coin either stops mass surveillance or it doesn’t.

9
level 2
· 5 mo. ago
Tin

This is key. Verge marketing rings a bell.

3
level 2
· 5 mo. ago
Platinum | QC: CC 762 | ADA 6

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.

0

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