If there was a better alternative to #Bitcoin would you use it ?
Discussion
It's hard to imagine anything being objectively better than Bitcoin at this point, particularly since its network effect is part of what makes it better than anything new that could pop up.
If only there was an easy private digital payment system that could complete a transact in 20 minutes with low fees, is the first or second most used currency in most business that accept multiple cryptocurrencies, has just as many if not more nodes, and currently has a lower supply than Bitcoin.
If only, I wonder 🤔.
yes, but right now I don't have an idea of what better means
if I could wish for anything, it would be better protection of privacy without compromises
He said without compromises
Yes, you're not compromising anything.
Its privacy is enabled by default, so that means no whirlpool, no cash fusion, lightning, or other difficult to use protocols, Monero is ready to go without any extra steps.
Yes all those things are true, but I suspect there is more to it, at least the 12 year xmr/btc chart seems to suggest there is.
I'm concerned about peer 2 peer digital cash, not speculative price.
Monero could go to $1 for all I care as long as the fundamental underlying technology is still the same, or better.
The ability to transact freely, easily, and privately is what matters to me.
Come to think of it, mthis is an interesting lens to view this from :
Choose either of the below. You can only choose one.
1. The ability to transact freely, easily, and privately.
3. The ability to save in a sound monetary base that doesn't get deflated away by the state.
Which way anon?
I have no problem with an increase of supply in currency, in fact it's the more reasonable option to do so.
A cap of 21 Million becomes an issue as more, and more coins are lost forcing people to not transact with it.
Whereas Monero will have a stable, and constant supply, valuable enough to hold but also replaceable enough that it can be spent, and replaced.
Monero has maintained, or increased in value gradually despite this.
I support the first, while Monetary Debasment is a problem in Fiat, I don't think that same problem is in Monero, I support Bitcoin as a tool to help fight against Monetary Debasement but over the long run, I think Monero is more practical choice in day to day exchange for the average person.
I think it's important to keep an open mind. Both BTC and XMR are experiments. It's not a given that either will succeed in what they set out to do.
But the good news is it gives us two experiments instead of one, and since we have two running, the odds that we succeed in the overall quest to separate money from state goes up a lot.
Currently I like using XMR as a pseudo BTC Layer 2, but I have concerns over its long term feasibility if most people don't use it as SoV
Bitcoin is the discovery of digital scarcity, a fundamental breakthrough that cannot be duplicated. While ongoing developments in Layer 2 and Layer 3 solutions will undoubtedly enhance Bitcoin's performance and privacy, replacing its base layer (Layer 1) is akin to replacing the theory of relativity—a foundational discovery that underpins our understanding of the universe and has become indispensable to modern physics.
