Nostr Web Client

g2devi

9d169b4da53a9c22455bc429639d113ed664ac0c4131f09ce25aa262a2d6a249

If Bitcoin don't go private on the base layer, Monero or something like that will flip it one day, there is no other way.

The value of a crypto currency is the use of it, if Bitcoin is not used, that mean it's a bubble, and like every bubble, it will burst one day.

It seems impossible today, but you know, Bitcoin have around 16 years, so many things happened in 16 years, and so many things will happen during the next 16 years. Maybe Bitcoin will go to 1 million, 10 millions, 100 millions... or maybe it will go back to 0. Nothing is impossible.

What we are early on is to understand the need of financial privacy, the need for an anonymous system, few understand what is really wrong with Bitcoin because they don't really understand what is really wrong with our Governments, and because of that a disaster for many is ahead, one way or another, Bitcoin will be controlled & censored, maybe with a fork, maybe with KYC on-chain, I don't know how it will happen exactly but I'm 99.99% sure something like that will come in the 10 years to come, maybe before 2030.

Bitcoin is becoming something evil, an extension of the actual corrupted system, it's moving quickly. Be really careful of what's going on and how the situation evolve, trusting Bitcoin to protect you is becoming dangerous.

g2devi 1y ago

True. If #BTC is only usable through L2s then BTC is in a very fragile state. All it takes is one cycle where BTC does not pass its all time high before the Ngu crowd to abandon BTC. At that point BTC is nothing special and all the L2s can quickly ported to any BTC like coin like #LTC or #BCH or even #Monero. Note BTCpay server And Bisq have peen ported to other coins so an L2 port is very doable. When that happens be prepared.

Replying to

Knic

The supply is actually infinite. New coins will always be created forever into the future. That’s Infinite. I understand it’s a tapered tail end whatnot, but the calculus still equals infinity.

From 2017 to now, Monero has made negligible gains or losses, and perhaps does hold up to the claim of storing value if measured in USD, but that’s like measuring with a ruler that keeps changing in scale.

We choose to measure our wealth with a ruler that stays the same, forever. We choose #Bitcoin and it’s true limited supply.

g2devi 1y ago

Good analogy about the ruler but you're mistaken. Every time you mine a coin, you inflate the supply in both Bitcoin and Monero and you will in both for the next 100 years in Bitcoin. Currently, AFAIK Bitcoin has a higher inflation than Monero until the next halving but you won't notice much of a difference until the halving after that when fees will likely replace inflation to pay the miners in Bitcoin. The inflation in Monero is small, less than Gold, and about the same as the amount of Monero that's lost due to lost wallets, etc. Gold has kept its value for thousands of years so that should not stop Monero from being a store of value. Gold only started to lose its store of value in the 1970s when there wasn't enough gold in circulation and it began to be fractionally reserved...the same as what will happen to Bitcoin when it gets scarce enough. But even with fractional reserves, Gold is still not a bad store of value so I don't think Bitcoin will be harmed too much.