Privacy belongs on L2, L1 needs to be auditable.
Imagine all the gold backing the world’s money inside Fort Knox and it not being audited… exactly… that happened and it ended the gold standard.

And on that point specifically, if some cryptographic failure undoes Bitcoin, certainly no one is going to trust a wildly more complex and black box coin that ALREADY had a massive cryptographic failure that led to a (likely unexploited) inflation bug.
Privacy is the enemy of

nic carter

Twitter

Bitcoin has fallen below $90,000 this week due to liquidation pressure, weak ETF demand, and a confluence of macroeconomic uncertainty.

The decline has erased gains from previous attempts to respend...

Why did bitcoin fall below $90,000? Analyzing the recent sell-off

[Legislative Regulation] Since May 2025, the United States and Hong Kong have been racing to advance stablecoin legislation, sparking a global surge in legislation related to stablecoins and crypto assets (also known as "cryptocurrencies" or "virtual currencies"). Numerous institutions and capital are flocking to issue stablecoins and invest in crypto assets, leading to heated debate about whether China should fully promote stablecoin legislation and the development of RMB stablecoins (including offshore ones). Furthermore, after the US legislation prohibiting the Federal Reserve from issuing a digital dollar, the question of whether China should continue to promote the digital RMB has become a hot topic of discussion.

For China, this involves the direction and path of national monetary development...

Wang Yongli: Why did China resolutely halt stablecoins?

An evening star candle pattern at the resistance trendline of the falling wedge pattern signals a potential downswing in Ethereum price.
The 1,000–10,000 ETH cohort made the heaviest selling at the pe...

Ethereum Price Signals Bearish Reversal as 1K–10K ETH Wallets Keep Selling

People saying view keys, or privacy by default with public on-demand, do not understand that the total supply needs to be auditable to ensure the ledger is intact. BTC and ZEC has suffered from vulnerabilities but with BTC we know the inflation bug was not exploited.