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One of the main reasons for Bitcoin was to fight against currency devaluation.

Bitcoin's privacy is solvable, that Monero has no network effect and therefore cannot protect against currency devaluation is not solvable.

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ede3d957... 1y ago

You don't know anything about Monero's history. Your adversarial thinking skills are lame.

State agencies/deep state have Monero on the radar since 2018, when it ranked #4

Since then they used every possible means to suppress its price while they pumped the hell out of shitcoins (unfortunately including BTC, where they identified a psychological weakness (superiority) of holders, that now believe into store of value and NGU instead of a private medium of exchange better than fiat or gold.

They fully neutralised its impact. 99% of all new speculators are now onboarded through KYC and the only thing they will ever use is BTC IOUs through a fullyvstate compliant custodian. It's a huge fail.

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Discussion

Rich Nost 1y ago

What evidence do you have that state agencies have purposefully manipulated the price of monero downwards? If you don't have proof, why does that sound so familiar to what any rabid altcoin cult says about, say, XRP or BSV?

ede3d957... 1y ago

Fractional reserves were reinvented for Monero by Binance in 2019, long before people were concerned with CEX going fractional on Bitcoin.

People assumed it's impossible to go fractional on crypto. But that were early assumptions before gigantic custodians took over the market.

I am sure you'll find plenty of material if you research for "fractional reserves Monero"

Rich Nost 1y ago

Monero having a fractional reserve does not exclude other shitcoins from having fractional reserves, and offers no evidence of state actor manipulation.

Also, TIL that even monero people believe the supply ambiguity can lead to price manipulation.

ede3d957... 1y ago

Monero (thanks to its untraceability) was a primary target for fractional reserves without being easily discovered.

It took the community 2 years to find first irregularities. It took another year to organise a "Monero run" on exchanges to proof the theory that most big exchanges were fractional. It's a fascinating read.

Shortly after the "Monero run" exchanges started to delist Monero which escalated in 2024 when almost all exchanges delisted it leading to a liquidity drain.

I challenge you to do a thought exercise.

What would happen to BTC price if all major custodians would go to only 10% fractional?

What would happen to BTC price if almost all CEX delisted BTC within one year?

JackTheMimic 1y ago

If you can't audit funds then fractional reserve is possible. But if only there was some sort of public ledger that everyone could audit. Hmmmmm.🤔

ede3d957... 1y ago

Rich Nost 1y ago

That's a price chart with annotated CEX delisting dates. Your original assertion was that the price was manipulated by state actors. Monero being susceptible to delisting just tells me that monero isn't viable in regulated environments.

ede3d957... 1y ago

I told you about two things.

1) price suppression -> start with reading about Monero run

2) delistings -> this chart