Sounds based. Privacy is non-negotiable for p2p digital cash.
Discussion
I don’t mind using the monero network for certain transactions if you’re truly that concerned about the privacy of a particular transaction but you can’t save value in monero the same you can with bitcoin as it’s not scarce or sound money
similar to fiat, the long term viability of a monetary network is not good when people only spend your currency and hoard the one that holds its value over time
You need privacy for maximum censorship resistance and fungibility. Miners don't have the ability to selectively censor transactions and merchants can't form blacklists on a private Bitcoin.
Most of Bitcoins economic activity and value is on white markets. You're required to follow rules of a central authority on white markets which defeats the entire point. The only relevant activity for Bitcoins value proposition is on black markets.
As for the scarcity thing...
" There is a theory that the fixed supply of Bitcoin is the source of its value. As with Bitcoin, there is a fixed supply of the Mona Lisa, only one is possible. The theory implies that this is the source of value for the famed work of art. However there are countless unique works of art with no demand, and therefore no value. Bitcoin cannot increase in value only because of absolute scarcity."
https://github.com/libbitcoin/libbitcoin-system/wiki/Scarcity-Fallacy
Monero is scarce. It has less supply than Bitcoin. It's inflation of 0.8% per year is comparable to Bitcoin, which is already half of gold, THE store of value for millenia.
Thanks to the delisting of Monero in all CEX their is basically close to 100% self-custody which means fractional reserving (virtualky multiplyimg supply withan real effect on prixe) is not possible anymore.
Besides that non-fungible and non-private coins like Bitcoin are super easy to track, tax and extort.
I bet in the future more Bitcoiners would have wished to compromise on a little more inflation over having a totally transparent (to the whole world including AI government) store of their wealth.
We are talking about miniscule inflation in the area of 0.0 to 0.5% per year over being robbed at gun point with wealth taxes or unrealised gains taxes in the order of 1 to 50%.
Choose wisely, anon. The best time to make your stack private was years ago. The next best time is today.
what happens to monero when bitcoin transactions have just as much privacy as monero? what’s the value prop?
No idea. That would be wonderful.
But I need the best privacy protection today not in 5 or 10 years if ever. So what choice is there for people like me?
save in bitcoin, spend monero until you feel more comfortable with the privacy i guess. It still doesn’t change that bitcoin is superior savings vs. monero. Monero will continue to go down when priced in bitcoin
I don’t want to save in an asset that looks like this
