The problem it fixes is fractional reserve banking and central banking, with a trustless solution.
But the problem it created is Blockstream seized control, wrecked the layer-1, to sell their layer 2. And any alternative outside blockstream's control is being labeled a shitcoin.
That is the problem of the current world that it fixes yet. But it also fixes debasement of the supply which is equally important. If you don't understand that then I understand why you wouldn't value it.
Yeah, and... ? I'm not disputing Bitcoin being a potential store of value. I'm disputing blockstream capping the blocksize, so it has low value as real world cash. Layer 2 is complex and most people aren't going to do it.
Can you do it as a hobby? Sure. That's a hobby. I'm NOT disputing bitcoin, only the "bitcoin only"
You called Bitcoin a shitcoin, it is not.
The word (and value) is subjective. I was being purposefully hyperbolic, to show how it is done to other coins by it's community. If I offended you, sorry. I hope the lesson is to not use the word on either side
The ultimate store of value is the ultimate layer 1. Bitcoin is that ultimate store of value, so it is the ultimate layer 1.
Monero used as the store of value layer is not as good as Bitcoin.
If monero users believe monero's privacy benefit and tail emissions outweighs the Bitcoin networks auditable nature and halving-driven store of value I would argue they are incorrect.
If monero was simply used as a better than FIAT alternative for its perceived privacy benefit, similar to how a user might choose to use the liquid or lightning networks on Bitcoin for greater privacy, than effectively it's being used as a layer 2 for value transfer which is perfectly fine.
I agree with you Bitcoin's transparent nature makes it more trustworthy for a store of value. And if you want to do layer-2 as a hobby, that's fine.
But when you start doing the "bitcoin only" routine is when you turn into an oppressor. Because the layer-2 has issues that the average person isn't going to do, and so it turns back into custodial fractional reserve banking. The layer-2 is much more easily controlled, and that's why the government literally favors Bitcoin. Monero is better designed for cash. I'm NOT saying "monero only". I'm saying let people decide for themselves
*fixes yes
