It is if its trending to zero against bitcoin. Might be slow, but thats the direction
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That wont happen. Bitcoin cannot continue to rise forever. the halvings reduce miner profit every 4 years so only the biggest miners, who all do KYC btw, can survive. The fees are going nowhere but up over time which forces people to custodial layer 2 like lightning or learn how to open channels themselves which requires a high fee L1 transaction. People will flee to other coins with lower fees. People used to buy coffee and toothpaste with btc back in 2014-2015 and that is not feasable on L1 today. Custodial LN is nothing but banks with a new name and god help you if you ever need to close a channel and go back to L1. Sure, btc has more room to rise, but 1000x rises are done. Mining is captured now and will only get worse. The US government for example could just write a letter to over 52% of the bitcoin hashrate and say "do this or we will shut you down" and they will comply, I guarantee it.
Lol
So you think monero scales? It has cheaper transactions because no one is using it. It has not been tested, just like 99% of all other block chains. Does it even have an L2?
LN needs work, but its the best L2 we have so far.
As for the KYC US gov shut down.... Bitcoin is too popular. They've let it grow too big. You think the Maxi's will just give it all up and go back to their parents basement? Lol
We saw what happened in China right? They moved to another jurisdiction. A US mining confiscation might even be a good thing as it would decentralize the network further.
Everything trends to zero against bitcoin. If you don't have any.... Well good luck with that.
Monero would have just as cheap transactions as it does now even if it had Bitcoins usage. It has dynamic blocks. Fee pressure would come back down as blocks adjusted to accommodate more use.
Bitcoin can't do that because it has a fixed blocksize. More adoption = higher average fees that grow and don't come back down. Lightning doesn't scale. To onboard the world to LN you would need something like 130 megabyte blocks. You should look into a real solution like MimbleWimble that actually scales (and offers pretty strong privacy). Litecoin already did all the R&D.
Yea, miners in China could do that because regulations were lax and its still relatively early. We already see them moving to clamp down on all crypto in the west. The eventual outcome is that regulations will just increase in every country until there is nowhere to run. Miners will just pick what they think is the lesser devil, but overall it will still be worse than it is now.
What will you do when they outlaw self-custody? Or ban it from being used in their markets? (or make the regulatory burden so great it handicaps the use there)
All that is left is black and gray market money. A place where Bitcoin is rapidly losing ground and wont catch up unless something changes soon.
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Ecash offers great privacy, but it is custodial and rehypothecatable, so it isn't really a replacement for Monero. It raises the bar for custodial solutions though.
If monero had bitcoins usage and TX remained cheap, why would you bother mining? If monero had big blocks to scale all these TX who would bother upgrading their hardware to store it?Theres's no incentive, which is why it hasn't taken off.
On top of that they have some kind of communist CPU set up which doesn't allow competition.
They cannot take my bitcoin, and I'll do whatever it takes to secure it and support the network. These are run a node, coin join, LN node, spend wisely, move jurisdiction, support development, support bitcoin projects etc.
THEY WILL NOT TAKE IT!
Bitcoin will scale. Give it some time. LN is early too. There's more to come