it's not a shitcoin.
its actual digital cash.
theres nothing wrong with supporting projects that align with your values.
weird it even has to be said but
maxis unfortunately tend toward religious bigotry.
Discussion
I don't have strong feelings about monero but I think some bitcoiners are just worried something else will take it over if they don't try to will it in a different direction. For me, if something better comes a long that is demonstrably winning I'll simply put my purchasing power there, why wouldn't any reasoning bitcoiner do the same? We just want good money. Anyone who cites Thiers' law in support of bitcoin but would refuse to adopt a hypothetical better money needs to check and adjust their priors.
you are a reasonable person John ❤️
but most of these maxis
particularly the ones who had to deal will 2017 ICO shitcoin boom,
have taken refuge in prejudice and dogma.
i think it comes back to
what is "winning"? and how does it look?
i contest the general narrative USD denominated price appreciation alone is "winning"
but that metric is convenient for those who aren't interested in the complexities
and just want to shitpost and circle jerk.
Im convinced that winning means more time with my son and wife and a world where he can thrive and repeat. Whatever gets me there is what I'm for. Anything short of that is failure.
🤝
that seems like a good metric to me.
i tends towards idealism so
in addition to an increase in personal purchasing power
I want to see bankers lose their influence.
i have difficulty seeing how that happens on a transparent ledger.
Can you tell me the supply cap of monero?
monero emits .6 XMR per block in perpetuity.
thats an annual supply inflation of .8%.
can you tell me why gold failed as a SoV?
Since when did gold fail as a store of value?
Can you tell me why you define it that way?
right.
it didn't fail.
even with a annual supply inflation of 1.5-2.5%.
a supply cap isnt a requirement of hard money.
in fact, its bad monetary policy.
lol, because it takes actual work to produce Gold at that inflation rate. RandomX algorithm requires very little work at all to produce more XMR. And as we learn from basic supply and demand, prices fall to the marginal cost of production.
If it cost nothing to make it, it’ll cost nothing to own it, making it worthless over time.
lol
tell me you dont understand the difficulty adjustment
without telling me you dont understand the difficulty adjustment 👍
Tell me you’ve never mined bitcoin without telling me you’ve never mined bitcoin.
Just because a mechanism keep things fair to discover for all doesn’t mean that it makes it cheaper to produce indefinitely.
dude Ive mined Bitcoin since before the China ban.
nobody except for you said anything about "makes it cheaper to produce"
Monero uses PoW just like Bitcoin.
get your argument straight.
You’re arguing that just because gold has a higher inflation rate than XMR means that XMR will be a good store of value. lol, read “the price of tomorrow” by Jeff Booth
that is *not what I said.
if you don't have reading comprehension skills it's been nice chatting with you.
Inference is a skill most AI’s have a hard time with
pro tip
it is seldom productive on social media to have discussion based on your own inferences of the other person's meaning.
its a separate discussion but yes
XMR has all the properties of a good SoV.
the bullshit fiat chart you shared remains bullshit.
Your right; in order to have a discussion about store value, one does need to infer that the other party understand the meaning of VALUE. Looks like we have difference of opinion on that. To each their own.
exactly
you think that USD denominated value is VALUE.
otherwise why are you sharing fiat denominated charts?
and I think the ability to transact oermissionlessly is VALUE.
which is why I use the best tool regardless of fiat price.
👍
Feel free to share a chart or full thought that describes your argument about it XMR being a good store of value 👍
as with Bitcoin
monero is a good SoV because it has stable monetary properties and people find it's utility valuable.
known supply
consist demand
It’s an excellent SoV cos its fungibility (just in case)
Forked around… found out…
do you even know what argument you are making?
or is this just "I'm not clear on the details but this seems relevant somehow"
…Says the guy who has never ran a bitcoin node.
i guess you just jump around from thing to thing and cant make a nuanced point about any one specific?
i have two nodes atm and have been a node runner since 2016 👋
That's an interesting point.
Monero Difficulty Adjustment
Yes, Monero (XMR) has a difficulty adjustment mechanism. The difficulty adjusts with each block, examining the block times of the previous 720 blocks, excluding the 60 highest and lowest block times, which leaves 600 blocks for analysis. The average block time is then used to adjust the difficulty proportionally to target a 120-second block time.
The adjustment algorithm is designed to ensure that the network difficulty is appropriate for the current hashrate, maintaining a consistent block time despite fluctuations in mining power. This helps to stabilize the network and prevent sudden changes in difficulty that could disrupt mining operations.
It's pretty sad how bitcoiners, or some of them at least, seems to try to make up history or economics concepts as they go along.
I guess @MoreCredible deleted their reply
i cant see what I was replying to anymore...?
You can’t delete on nostr. Because I’m tagged, my relay keeps a copy forever, backed up in 3 locations
I would say the reasons gold isn't such a good store of value is because of price suppression.
The logic is that spot prices are dramatically manipulated by the bullion banks via the use of derivative contracts and leasing schemes. They do this to suppress the price, hide the true rarity (example: There are something like 375 "paper oz" traded via contracts for every 1 oz of silver on the Comex), to discourage weak hands from owning gold and silver, and to move attention away from precious metals and towards their fake fiat unbacked currency.
Search "paper silver", "paper gold", "naked shorts on the Comex", "gold and silver price suppression", and "bullion bank silver price suppression" and you'll start to see why and how the price is massively suppressed by them shorting the market in order to discourage ownership (so that the price doesn't explode higher and encourage the masses to want to own gold and silver and start questioning the legitimacy of unbacked, crested from nothing, infinite supply / printed at will fiat currency units).
Can’t wait for you to explain how gold failed as SoV.
since you can only ask questions
and not answer any,
here.