One of the main reasons for Bitcoin was to fight against currency devaluation.
Bitcoin's privacy is solvable, that Monero has no network effect and therefore cannot protect against currency devaluation is not solvable.
Discussion
How will bitcoin solve privacy when the base layer keeps leaking info?
Network effect is solvable. Easy. Myspace was overtaken by Facebook.
Bitcoin is breaking in two: kyc land and black listed land. The rift is growing every day.
The network effect is not solved when you have a shitcoin like Monero with a decentralization problem due to its dynamic block size.
You should read more about the blockchain trilemma and why layer 2 solutions.
Ah.. A shitcoin, eh.
Have fun running your full node on a raspi when you can't afford a single transaction.
Storage is cheap, bandwidth is improving. Block size limit was introduced to reduce spam at the time and not meant to be there forever. Dynamic blocks are an elegant solution.
Bitcoin will become custodial with lightning. Cuz... Who will actually run their own node. So is that decentralized?
If Monero has a large adoption only large service providers will be able to run the nodes, unfortunately I see you don't have the right knowledge to understand it, don't waste my time anymore.
You must have done a lot of research to claim these things. I bought a 4TB drive for a 100 bucks on black Friday.
Monero will continue to grow. Don't want to use it? You don't have to. That's the beauty of the free market.
So go pay for your btc tx and send lightning tx to custodians. Whatever floats your boat. And then go kyc or be fenced off lol.
Monero is the true underground coin. They can ban it, but they can't prove you used it.
Lightning requires a 24/7 server to be good UI/UX, so it will be dominated by custodians and never fully sovereign for the masses.
Once the Gov starts requiring all large entities to KYC lightning channel openings the Lightning network as a sovereign entity will die.
Yeah, having a mini PC running at home is basically rocket science only to be performed by the most skilled of hackermans. Lol
oh come on
last time it was
"ring signatures cause inflation bugs"
now its
"dynamic blocks make it centralizes?"
go back to school son
You don't know anything about Monero's history. Your adversarial thinking skills are lame.
State agencies/deep state have Monero on the radar since 2018, when it ranked #4
Since then they used every possible means to suppress its price while they pumped the hell out of shitcoins (unfortunately including BTC, where they identified a psychological weakness (superiority) of holders, that now believe into store of value and NGU instead of a private medium of exchange better than fiat or gold.
They fully neutralised its impact. 99% of all new speculators are now onboarded through KYC and the only thing they will ever use is BTC IOUs through a fullyvstate compliant custodian. It's a huge fail.
What evidence do you have that state agencies have purposefully manipulated the price of monero downwards? If you don't have proof, why does that sound so familiar to what any rabid altcoin cult says about, say, XRP or BSV?
Fractional reserves were reinvented for Monero by Binance in 2019, long before people were concerned with CEX going fractional on Bitcoin.
People assumed it's impossible to go fractional on crypto. But that were early assumptions before gigantic custodians took over the market.
I am sure you'll find plenty of material if you research for "fractional reserves Monero"
Monero having a fractional reserve does not exclude other shitcoins from having fractional reserves, and offers no evidence of state actor manipulation.
Also, TIL that even monero people believe the supply ambiguity can lead to price manipulation.
Monero (thanks to its untraceability) was a primary target for fractional reserves without being easily discovered.
It took the community 2 years to find first irregularities. It took another year to organise a "Monero run" on exchanges to proof the theory that most big exchanges were fractional. It's a fascinating read.
Shortly after the "Monero run" exchanges started to delist Monero which escalated in 2024 when almost all exchanges delisted it leading to a liquidity drain.
I challenge you to do a thought exercise.
What would happen to BTC price if all major custodians would go to only 10% fractional?
What would happen to BTC price if almost all CEX delisted BTC within one year?
If you can't audit funds then fractional reserve is possible. But if only there was some sort of public ledger that everyone could audit. Hmmmmm.🤔
That's a price chart with annotated CEX delisting dates. Your original assertion was that the price was manipulated by state actors. Monero being susceptible to delisting just tells me that monero isn't viable in regulated environments.
Does monero still change the mining algo to regularly account for asics?
If needed yes I believe
No. Last time was 5 years ago.
There was a big discussion between going the ASIC way (SHA3) or ASIC resistance. And the conclusion was that RandomX needs to work because if it wouldn't have, constant forking wouldn't be a good way forward. In which case the project would have went with SHA3 which is probably the most easiest to build ASICS for.
Sounds confusing? No. It's wheing benefits and tradeoffs of totally different approaches. So far RandomX has a good track record of being able to keep ASICS out.
Imagine defending central bank funded price suppressors against private cypherpunk cash.
Do some reading. Meetup with some Monero folks, of which most are earliest Bitcoiners of 2009-2013 that predate your experience by half a decade like most vocal Bitcoin maxis who feel superior because they discovered BTC in 2017 when it touched 20,000 for the first time.
Congratulations to your fiat gains. You outcomepted the stupidest in your country by x3
Monero has been delisted by all major exchanges DESPITE it ranking #1 or #2 wherever it is directly accepted by merchants.
I couldn't care less if you keep your entitled BTC maxi position. But at least do some research into the multitude of attacks that have been started against Monero over the last 7 years, while they made BTC compatible with KYC, travel rules, FATF surveillance, AML restrictions and custodial ETFs opening the potential for fractional reserves (by law).
"My currency can be suppressed by the central banks" isn't the flex you think it is.
The reason institutions flock to bitcoin ia because they've already laughed at, ignored, and fought us. Now we win.
They stopped at the ignore you phase for Monero.
They tried banning bitcoin remember? The price action was so strong they got greedy and "reallowed" it. This is the part you Monero guys never understand, economic incentives.
🎯
lol, we do understand very well.
Bitcoin is transparent, which means it can be surveilled, which means it can be controlled.
You really think the same governments we all agree constantly stomp on our rights, want to know everything about everyone at all times and tax you to oblivion, embraced Bitcoin into the legacy financial system because.. Bitcoin won?
lol, just lol.
Look at how most people "use" Bitcoin. Not in our nostr bubble, in the real world.
Then realize a very small proportion is non-kyc sats, and over time as even more normies come, those utxos will stand out even more.
Why do you think the focus on the travel rule, CRS-like reporting requirements, etc?
I'n trying to be really polite here, so I'll just say that it's asinine to believe that Bitcoin was embraced because it was too big to stop.
It was embraced because they think they can control it well enough to neuter it.
#monero though? Different story. It's banned in several jurisdictious (Japan, UAE, South Korea too I believe), and de facto banned in many others (the EU notably because of MiCa, which makes exchanges supporting it a giant nightmare, so they folded).
Why but why do you think that is?
BECAUSE IT WORKS, lol.
And because it works as untraceable digital cash, it REALLY upsets the current surveillance paradigm.
You can't enforce what you can't see. If a sizable portion of the people are using tools like Monero, the cows are free, the slaves leave the plantation, the scam implodes.
Bitcoin makes the scam implode in another way (hopefully, anyway) by making clear that fiat money is a crime against humanity (I'm not even exaggerating).
However, it being transparent also makes it a perfect tool for control.
If you doubt transparency fosters control, consider how it would feel to not use end-to-end encryption for anything.
That's Bitcoin, but for money.
And so it was embraced by the fiat system.
Monero? Banned, not talked about in polite company.
The world is not ready for it yet.
They seem awefully interested in pressuring exchanges to regularly delist Monero. Wouldn't call that ignoring. If they didn't consider it a potential threat they wouldn't bother with it at all.
I still remember ZCash…