We need to invent another onomatopoeia for the money printing bc "brrrr" doesn't begin to do this shit justice.
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.
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.
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.
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.
And Monero is inflationary, correct?
How is custody lost, exactly?
whoa that’s dope. i remember your were working on that pelican aesthetic…congrats dude. i’d probably ride with a black one just ‘cuz i prefer flying under the radar.
Argentina is often an international economic canary in the coal mine due to rampant government corruption and irresponsible spending supported by horrendous deals done with the IMF. Although that may seem politically-driven, make no mistake about it, both the right and left have driven the country into the ground in their own special way. The one common thread throughout Argentina’s history over the past 125 years is that the government has always found a way to fumble the ball.
Dollarization seems like the necessary evil. Why? Stability and liquidity. It’s hot fiat garbage, but it’s the best hot fiat garbage for those two reasons. It will allow for the most liquid currency on Earth to facilitate market discovery of goods and services in the near-term, hopefully avoiding the pain felt throughout previous countries post-dollarization.
Oh, and then there’s the widely-held belief that Argentina is home to more physical dollars than any other country. We’re talking TENS OF BILLIONS OF PHYSICAL DOLLARS. But physical dollars won’t be needed in today’s day and age with the proliferation of smart phones.
This is where the Lightning Network can really explode in usage with apps such as Strike (who is in the App Store for both the US and Argentina). It’s now possible to utilize payment solutions that keep up with the velocity of commerce. Anyone from companies to the Bolivian women selling their spicy peppers at the Mercado Norte in Córdoba can access this payment tech. And it’s those Bolivian ladies who we should have in mind when developing the necessary tools for mass adoption (for example identifying the most common version of Android being run in the world and focusing there).
Dollarization in Argentina is like economic triage for the macro economy, and ultimately a trojan horse to hyperbitcoinization. Bullish AF on Argentina despite knowing it has yet to reach max pain.
Will AI be responsible for hyperbitcoinization? How much rocket fuel does it pour on development?
Your thoughts on Chaumian mints reaching near-perfect privacy with tools such as Cashu? Seems like the use case of Monero is kaput.
100%. GPT-4 passed the fecking bar exam in the 10th percentile?! what a time to be alive
What do you think of Midjourney 5?
LOL no seriously…they’re also great study material for learning the art of euphemisms. What happens to your Monero stack when hyperbitcoinization happens?
Justin woke up today and chose ignorant stupidity: “all these people who are clearly smarter than me must be mistaken.”