Subnostr

There will also be higher volume to achieve the needed fee amount to maintain the net work so fees actually could be lower than now too

If that's the case then Bitcoin was a failure.

I don’t understand this attitude that miners should work for you for free when block reward is no longer given.. What did you think would happen when block reward every 4 years is less and less? In April 2024 block reward will go from 6.25 to 3.125 meaning fees and price per bitcoin will have to find an equilibrium to pay for network security

The most efficient miners will continue to mine profitably. The rest deserve to fail. We owe the miners nothing.

If you’re worried about a high fee environment start mining, it’s a hedge against high fees.

https://youtu.be/sZjcFRdvbjc?si=E8I-RMT3cfpOZnfj

Really you're making some excellent arguments as to why Monero is superior to Bitcoin.

Deleted Account 2y ago

Yawn. I've seen this before. Truth is more Bitcoin plebs will switch to Monero as they get priced out of being able to make Bitcoin transactions. Even lightning fails when network fees go too high. Hard to open or splice into channels. Storage on the other hand will keep getting cheaper and cheaper, faster than the Monero blockchain will grow.

Deleted Account 2y ago

“Truth is more Bitcoin plebs will switch to Monero”

Do you realize how difficult it is to acquire monero for the average “pleb”?

Sure the 10,000 people on nostr are technically savvy enough to purchase XMR but monero is available on 0 Exchanges, where most plebs reside.

Monero is cool but it is extremely Niche.

Exactly we are talking about a 3 billion market cap vs a 700 billion market cap here. Why would a normal person want to buy this no name 25th place coin over any other random of the 20,000 different ‘crypto’? XMR doesn’t solve the salability and need a for common neutral good.

It's for anyone seeking sovereignty that wants to actually use something that transfers value in a private, untaintable way while not taking out half their savings in fees when they use it. It doesn't need everyone on the planet to use it to accomplish that goal.

Normal people aren't going to use Bitcoin either when their Bitcoin ETF and CBDCs are free to use, quick, accepted everywhere, and they still get price exposure

goatmeal 2y ago

p2p exchanges are not more difficult to use than non-custodial LN wallets. you aren't seriously suggesting that p2p is an insurmountable barrier compared to managing payment channels.

I don’t think p2p is too hard but is it widely known for them to do the work to do that? No. They’ll just find some other shitcoin on exchange before they go learning about buying a coin on p2p. I would also make a counter point to your argument about this being similar to non-custodial lightning. It’s not even close non-custodial lightning wallets are pretty new, monero has been out for years dwindling volume.

Monero isn’t a common neutral good so it has a salability issue. If you ask most normies if they’ve heard of bitcoin they’ll say yes. Monero would get a small fraction of “yes” to that question relative to overwhelming “no”

https://void.cat/d/Sj6mcnBPis5Qy8HPa6866K.webp

Monero is the growing choice on DNM free markets where people have real skin in the game. It's even Bisqs highest volume trades after Bitcoin.

The whole world is never going to onboard to either Bitcoin or Monero. The masses prefer convenience over self-responsibility and sovereignty.

Nation states will never let them operate unrestrained on white markets. Global adoption is a fantasy.

https://void.cat/d/Fwrs9WnTxVtdPAqug8kKas.webp

Monero is irrelevant to this conversation, it can’t even verify that there is no supply bug present which is a huge problem. It’s also got an eternal inflation rate so 1 monero this year will never have the same purchasing power as 1 monero next year. So it has failed already in terms of network security, store of value and unit of account

And yet it still works better than Bitcoin for the average user. No point in saving in Bitcoin if it's too expensive to spend. That store of value loses a lot of value if you have to spend half of it on network fees.

If monero was increasing in purchasing power against bitcoin *maybe* you can make that argument that this is the take of the free market. It’s lost purchasing power every year since inception against Bitcoin in an exponential downtrend

Bitcoin apologists tap dancing around the fact that high network fees break Bitcoin is so tiring. Stop pretending that Bitcoin is perfect. That doesn't help anything. Bitcoin has problems that need to be addressed for it to succeed globally as a payment network, and covering your ears and yelling "la la la la la!" Doesn't solve them. Rejecting solutions that Monero is proving out because of some tribalistic pride is ignorant.

As I said originally, #Bitcoin is NOT guaranteed to succeed.

It’s worked pretty well for 15 years so it’s not unfounded ignorance. I think the only people pretending here are the people that think Monero can substitute for Bitcoin as a store of value or unit of account. Even in dollar terms it has lost purchasing power in real terms since inception.

Let me ask you a question, do you run a bitcoin or monero full node?

Less than 1% of the global population is using it. What happens when the other 99% try to use it? Nothing has been proven yet. Bitcoin still has to prove itself.

You’re going to be waiting a long time 🤣

I run both. Have for a long time.

Dude you don't even verify Bitcoin so who cares about what you can do when you never do it. No one does it.

All Bitcoiners are relying on their node to verify for them exactly like Monero users. Same category of implementation risk.

No Bitcoiner is verifying hundreds of millions of past transactions in 800,000+ blocks. What about new transactions every ten minutes?

Gold had more inflation than Monero for thousands of years and did just fine.

Not even your purchasing power claim is always true. Monero was up 2.5x over Bitcoin by the end of 2022. Depends on the timeline you bought and/or sold and changes all the time. Any forecasting on future price of either is just speculation.

I run 2 nodes and mine Btc so I have no idea what you’re talking about “you don’t even verify bitcoin” 🤣🔇

Muted for shilling a 25th place ‘crypto’