Bitcoiners are too dismissive of Monero. While BTC is an ideal store of value, XMR is arguably a better medium of exchange.
Discussion
XMR has bad liquidity, you can’t easily acquire, and no one takes it.
Sure, but those are pretty much the same arguments used against BTC early on, and even today to some extent.
Vast majority of vendors don't accept bitcoin, but that doesn't mean we shouldn't work towards using it as a payment mechanism.
FWIW the more I see governments trying to ban Monero, the more I want to use it.
Exactly. That the government is not afraid of BTC should make everyone think.
Here is a example - Turkey, a country with extreme inflation since a decade. Still the government does not give a fuck that a BTC exchange is the only major advertiser ON THE WHOLE international airport. Start thinking bitcoiners.
https://primal.net/e/note1w2c64e8u9fspyjkkcvg3lhmly08fjkh6kzwqltd6zeyzlz7hfpssfnh7e8
your last points is very true. If they arent banning it, its not disrupting any established structures much...most likely.
I’m very skeptical. XMR doesn’t use the lightning network so how will it scale? Blockchains are not ideal for everyday commerce
Yeah, that I'm not sure about. They have adaptive block sizes to handle more transactions, but then there's blockchain bloat. It may be theoretically possible to build a type of lightning network on XMR.
Heavily depends on rate of adoption and how popular you think it will become. Maybe blockchains don't scale (right now), but Lightning network doesn't really scale either. You need something like ~100MB blocks to even start thinking about it being a possibility (while also ignoring all the other UX problems with lightning)
But if it still matters to you Seraphis upgrade that is coming down the road, and being worked on atm, will allow a basic lightning type of network on Monero
I just zapped you on lightning. Can’t do that with XMR
Thanks lol but you actually can. Android app should be out pretty soon too.
About the "Bitcoin is a great store of value" argument:
Do you want everybody to know how much you are worth? And with whom you transact? Not only the gov but all your business partners?
Swiss number and offshore accounts have had a big market for a reason. But they are dying.
In a world where the governments get more tyrannical and surveillance increases to absolute psychopathic levels, a store of value where nobody can tell what you have or that you have anything is something people will likely want to have in the future.
The XMR/BTC chart is still in a downtrend but when i look at the 10 year chart, it looks like it could be a huge opportunity right now for the people who see the future much earlier than the rest. A lot of early bitcoiners were exactly those people.
Wait for the trend reversal if you want to play it safe.