weev's avatar
weev 6 days ago
> Monero is a fiat shitcoin There was this guy once, his name was Satoshi Nakamoto, you might have heard of him. He said that if the problems of ledger privacy could be solved, it would lead to “a much better, easier, more convenient implementation of Bitcoin”. Exact quote: He also posted a very nascent implementation of ring signatures, though he clearly hadn’t read any of the historical literature on the subject and it didn’t know it was actually a maturely researched idea. But he absolutely understood the concept and knew it was necessary to eventually implement! Of course, these days jerkoffs like Saylor say it is unacceptable for Bitcoin. But Satoshi knew otherwise. So maybe Monero is a fiat shitcoin, but it has definitely become “a much better, easier, more convenient implementation of Bitcoin”. And if Monero is a fiat shitcoin, Bitcoin is a worse, harder to use, and less convenient version of blockchain payments. I don’t think you can call Monero a fiat shitcoin. It is specifically not fiat, and has a strict definition of what its supply is. Today its inflation rate is much lower than Bitcoin! It does have a tail emission (0.6 XMR per block forever), so maybe its inflation rate is lower on the ten thousand year timeline, but we’ll let people in ten thousand years determine if that was a good tradeoff. > Remittances are downstream of what you're remitting having value, the killer application is infinity divided by 21M. Scarcity is only a singular component of value. If immutable scarcity is the killer app, our economy would be delineated in units of Tantalum-180m or something. Bitcoin is now a digital paperweight and you are not giving us a good argument for its fundamentals of value.

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> if the problems of ledger privacy could be solved Big if, still hasn't been solved. Monero is a sybil honeypot chain for larps that's less private from the state than Bitcoin simply because the anonset is shit and attracts lazy dumbs that can't do proper UTXO management. > Tantalum-180m Is there a decentralized ledger, near-costless verification, and most importantly, a deeply liquid market for this? Yes you could clone Bitcoin bit for bit today and have an equally scarce base unit, but the scarcity of the conception and resultant gravity-well cannot be replicated. Every shit-chain reinforces this, shit-chains are not scarce.
weev's avatar
weev 6 days ago
> Is there a decentralized ledger You were just arguing that ledger centralization in Lightning is absolutely okay, where everyone will use a custodial shitcoin version of Lightning and that’s fine because someone CAN transact in real Bitcoin. I don’t see how much different this is from “well, sure, the people issuing the gold-backed token COULD be lying about their gold reserves but that’s okay because you can have Krugerrands at home.” I don’t buy this chain of argumentation, which is why I think Lightning is not the solution, and think we should give BIP300/BIP301 a shot at deossifying the base layer and see if they can make transacting Bitcoin at scale with asynchronous broadcasts work.