Riccardo Spagni or better known as FluffyPony on social media recently spoke about implications for Monero if Bitcoin decides to fulfill privacy into its code. He spoke to Laura Shin from unchained in the podcast.
According to the description of the podcast:
“Riccardo Spagni, the lead maintainer for Monero, describes the four pillars of Monero's privacy, makes the case for why it would still be valuable even if BItcoin were to adopt privacy and explains the ways in which its privacy is stronger and weaker than Zcash's. He also discusses his new project, Tari, and how it could enable a new world of natively digital assets such as tickets, loyalty points, and in-game assets, and how it will relate to Monero. He also explains his view on the fact that Monero is one of the top currencies used on the dark web and appears to have been in demand by bad state actors such as North Korea.”
In the podcast, Spagni said that if Bitcoin’s privacy is achieved immediately in the code, it would be a immense progress for it since it is regarded as the face of crypto. It holds sentimental value for most in the crypto circle and the mainstream media and the outsiders judge the entire crypto market while looking at bitcoin.
“Regulators are just going to use that as a reason to stomp on Bitcoin now, successfully or unsuccessfully doesn’t really matter they would still be an annoyance and maybe even a hindrance to most people on the flip side of things, you know, let’s assume that despite all of this Bitcoin does add privacy.”
Even if this happens with Bitcoin's code, Spagni says that Monero will not cease to exist.
“The lack of privacy and so Monero will have made inroads already in places like Venezuela and in countries with oppressive regimes. And at that point even if Bitcoin has added privacy, it will not necessarily be an easy switch over for the people that are already in the ecosystem.”