LOL no seriously…they’re also great study material for learning the art of euphemisms. What happens to your Monero stack when hyperbitcoinization happens?
Discussion
It continues to work beautifully as digital cash and a more private alternative to Bitcoin 🤷♂️
Not sure why people think it's a "winner takes all" scenario, both are amazing tools that serve different purposes today.
Best case scenario Bitcoin becomes as private as Monero and we don't need a Monero anymore, would gladly embrace that 🙂
That's the future I'm hoping for ☺️
More likely Bitcoin becomes the mainstream currency, and Monero becomes the currency of the underground market. International trade settlement, inter-bank settlement, there are plenty of reasons for a transparent ledger. There are also obviously reasons to make transactions that can't be traced.
just having privacy is a reason. it is no one's business.
and the beauty of monero is that no one can take that away from you
Most people don't appreciate or care about financial privacy, and there are some cases where financial privacy should be prevented. Banks for example, should have to settle their business on a transparent ledger. You want to know all the transactions that your bank is making. As far as people, most of them don't possess the inclination for self-sovereignty. I see a two tiered future where there are sheeple and self-sovereigns.
Perhaps even every tax funded entity which is meant to be serving people.
Definitely I want my government transacting on the Bitcoin blockchain but I don't see that happening in the west. Adoption will happen first in nations where people benefit the least from the legacy financial system, and where corruption is rampant. Look to Africa and Latin America. In North America and Western Europe, we're going to get a CBDC, and concerted efforts to cut us off from the Bitcoin economy.
Perhaps a starting point would be to demand complete transparency for governments and corporations funded by taxpayers. Simply put, to make sure that we the people are not kept in the dark with governmental and corporation secrets that we the people are funding, ledger or not.
🤔
government is a criminal organization robbing your money
abusing you and abusing the money they extorted from you
monero protects you from that criminal organization
Oh please, spare me the embarrassment of how the government is the villain in a democratic elected government.
Perhaps making better choices would result in a better government.
We’re not in some dictatorship to blame the government, are we?
you need to do some research
who put those idiots and morons there
it is a simulation
you also need to research what a construct a country is
it is nothing but a corporation
and you are not the owner
I’m a democratic society, the answer is the people, but the people have grown fat and lazy with conveniences and entertainment, and to quote Osho, as well retarded, and those idiots and morons of puppets, a reflection of us the people, since correct me if I’m wrong, but corporations and governments are still run by people, right?
all corporations, large corporations like most countries and world hoax organization etc are run by the trilateral commission which is a bunch of superrich criminals who own all of those corporations. they own all central banks, they own blackrock and they own the world satanic forum. it was made crystal clear in the last 3 years.
you also need to understand what government means. it comes from latin
govern comes from gubernare and means CONTROL
ment comes from mens which everyone who has learned latin knows it means MIND
if you believe in government
you are under MIND CONTROL
Oh totally, I keep forgetting about the false core feedings communist protocols to justify snowy Eddie’s existence for entrepreneurial endeavors, from which the conspiracy protocols to keep the governance boundaries of us and them clear, however, and I believe this is quite an important point regarding the governing bodies expectation of control.
See, when the governing body turns corrupt out of ignorant fear and comes wanting control fueled by greed, something else happens, a terminal dynamic of governance sets in, riots, economic collapse and chaos become inevitable and act as catalyst to the implosion.
The plague of Borg or temporal collapses such as Skynet become reality when control comes with understanding and the governing bodies fumbling in darkness making Al those management by lies and deception to implode.
Minding control are we? Well, ignorance is blissful until getting caught stealing the blinds, ey?
that is exactly why you need it
you do not want to live in totalitarian, dystopian, dumbed down society.
you want to stay independent and deal with like -minded, normal people only
Your thoughts on Chaumian mints reaching near-perfect privacy with tools such as Cashu? Seems like the use case of Monero is kaput.
Privacy at the loss of custody.
Sounds like a downgrade to me. You can keep both on Monero.
How is custody lost, exactly?
Cashu is custodial.
Fedimints are multisig custody with guardians, better, but still custodial.
"Cashu offers near-perfect privacy for users of custodial Bitcoin applications."
And Monero is inflationary, correct?
Yes, but if you're worried about the tiny inflation that monero has (less than that of gold) it is irrelevant if you only use Monero to transact and Bitcoin to save longterm.
Best of both worlds.
Monero’s narrative was more compelling pre-L2 developments on BTC. Seems like the narrative is diminishing with every passing day, esp if the BTC user is KYC-free. The constant, developer-driven hard forks are also disconcerting.
L2s always come with trade-offs like the aforementioned Cashu - loss of custody or centralization tendencies, etc.
I don't think it is diminishing like you say. If there is a use case for private and self-custodial digital cash, Monero is still one of the few to meet that criteria. Non-KYC does diminish the risk, but other parties you transact with still have full view into your stack (if you don't conjoin).
If Bitcoin figures out a way to have on-par or better privacy, without loss of custody, and cheap txs, I will use it.
The hard forks are not constant and are driven by the community, in the open.
https://sethforprivacy.com/posts/dispelling-monero-fud/#moneros-hard-forks-make-it-centralized
Monero only hard forks as needed, which is just once every few years at this point.
Now we’re venturing into semantics. So many holes in the Monero narrative. Blockchain bloat, lack of decentralization, inflation…it’s simply not designed to withstand the test of time. It’s an improvement on fiat, but not on Bitcoin whatsoever. Money is indeed a zero-sum game.
Read the post I linked and offer some well-reasoned retort, happy to hear it then.
Right now it just sounds like you're repeating the common FUD that is almost entirely baseless.
Sure Seth. The Monero blockchain is bloated and there’s no way that the amount of storage needed to run a full node is economically feasible for 95+% of the world, even taking into account the deflationary nature of technology. Eventually the story of Monero will be that it’s decent tech, but not good enough, and ultimately a detraction from true progress being made on the Bitcoin protocol.
When has there ever been one money in all human history? The freer the markets the more kinds of money you would expect (although they could gravitate to one but never completely).
Different valid design choices based on goals and you uncharitably call them narratives. All while citing the "one money" bitcoin maxi narrative.
If you think of Monero as trying to be private p2p digital cash it makes perfect sense. If you think of it from a one money, place to store value, absolute scarcity that is competing with bitcoin perspective, than ya it doesn't surprise me why you came to that conclusion.
There’s a lack of charity in general because the thinking is that the Monero project is a detraction from the advocacy and development that needs to be taking place on the Bitcoin protocol, the protocol that’s truly fixing money.
It's undeserved lack of charity. Bitcoiners take anything not bitcoin as an attack on them even when goals are different.
If Bitcoin focused on privacy and fungibility there would be no need for Monero and it wouldn't exist. So this is the outcome. Then maxis get upset when it is built into another crypto that focuses on these goals specifically. Bitcoin purported solutions are always half-solutions. If bitcoin tries doing everything well, it will do nothing well.
Like I said, if bitcoin figures out how to do it better, I will use it.
Disinflationary technically, and in reality deflationary like Bitcoin due to issuance already being lower than suspected loss of funds etc.
More here:
https://sethforprivacy.com/posts/dispelling-monero-fud/#monero-has-an-infinite-supply
You don't have to save or stack in Monero, if that is your outlook, you can take advantage of it's usefeul properties and just use it.
Continue saving in Bitcoin. Doesn't have to be mutually exclusive. Use the tool that fits the job.