Devil's advocate: what if we do a hardfork of bitcoin that is private. Every holder gets an equivalent amount of private bitcoin and yes, the institutions dump and crash the price but we have instant wide distribution of a privacy coin. Where does my proposal fail?
Discussion
if the price is just >0, how are miners incentivized to secure the network?
also re mining it seems inadvisable to continue to do sha256
since hash is likely to be negligable, the network would be trivial to attack
and with no confidence nobody would use the network
and since nobody is using the network it isnt private
maybe its a question of details
wherea would be price end up?
exactly what privacy preserving techniques?
etc
but basically
id say a private version of btc does not make *good enough* tradeoffs to disrupt xmr and zec
Either merge mining with bitcoin or switch to RandomX merge mining with monero.
Benefit would be wide distribution and branding/network effect.
Realistically the price would be quite low.
Monero price reflects the demand for private payments, bitcoin price reflects demand for 21M/infinity. If that turns out to be a gigantic bubble remains to be seen.