Replying to Avatar Aeneas

The concept of "tested money" is fundamental to understanding the resilience and reliability of different forms of currency. Monero is a cryptocurrency that, despite facing censorship and restrictions, continues to be used by a dedicated community. This demonstrates its robustness in adverse situations, where privacy and security are paramount. In contrast, Bitcoin, while widely recognized and accepted, is often seen as a form of money that is "carried by the state," as its stability is, in part, supported by government interventions and monetary policies that can distort its real value.

A currency that has been censored but continues to be used shows a resilience that cannot be ignored. This resilience indicates that, in times of uncertainty, people still trust and use this form of currency.

Furthermore, the issue of fixed capital issuance is crucial to understanding the deflationary nature of Monero. With a currency issuance that tends to be fixed over time, the annual inflation rate of the currency decreases as time goes on. This means that, in a scenario of increasing productivity and technology, the amount of currency in circulation does not grow at the same rate as the production of goods and services. Thus, as economic efficiency increases, the value of Monero tends to appreciate, making it a deflationary currency. This dynamic contrasts with inflationary currencies, where excessive printing can lead to devaluation.

Therefore, when comparing Monero and Bitcoin, it is important to consider not only acceptance and popularity but also resilience in the face of censorship and the issuance structure that determines their economic behavior. Money that has already been tested in adverse situations and continues to be used, like Monero, can offer a more robust perspective in a world where privacy and financial freedom are increasingly threatened.

Monero is a store of value, and if you don't know why you don't understand economics and finance enough.

#Monero

#bitcoin

#nostr

#wisdom

The only other crypto worth holding. Privacy is a nature right. If you don't implement privacy into your life you have no right to complain about it.

nostr:nevent1qqs97paftlmygjukcl4y43nsnuy3qtwlezyf2fdm8cz5yfstcy60t6gpr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgsw4u6pzlw3rss5822dh0j7nsn0xm4alp5gg7ph9kf5hkev7uuvufqrqsqqqqqpmzy25t

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Truth πŸ’ͺ😎

We don't have privacy and freedom granted by laws, we take it and grant it by our own actions πŸ€œπŸ€›

Another nice thing about monero is it can be mined with free/libre software on hardware you already own. No GPUs with their proprietary firmware, no specialized hardware. It is not profitable from a monetary accounting perspective but profitable in the general sense. Also p2pool.

So I said "no specialized hardware" but sometimes I wonder if some AMD employees had a hand in the proof-of-work design because their chips seem to be advantaged. When raptor's power9 (truly free/libre processor) came out it was going to be better for monero but then they changed the proof-of-work to the disadvantage of that processor and to the advantage of the less free/libre CPUs.