Important conversation.
I wonder if Saylor is running a long game strstegy hete. He is no fool.
But... Occam's razor...
Jeff Booth
I’ve been talking about this for a long time. Two contradictory forces - one: manipulated money, coercion, and control —-versus the other: a global free market allowing prices to fall.
In over 5000 years of human history, we have never had a global free market because we have never had truly decentralized and secure money. In other words, “we” must be part of the problem. Ie - our short term incentives conflict with our longer term “beliefs”.
That is what is going on here and every person has a choice (not just the rich telling you how to live) If everyone chooses to trust others with their #bitcoin and bitcoin becomes only a store of value, it will eventually centralize and fail.
If enough people realize the risk of centralization and pricing in a USD derivative, hold in self custody, run a node, spend in it, help others build to it, the protocol will reprice all of those trying to centralize. (And those holding on those exchanges)
Ps - This path is inevitable in my mind and only a matter of time preference.
This is also the choice when you spend more of your time on #Nostr. You are part of an early group of people who understand deeply how their own time matters in creating the world they say we want to live in.
Happy holidays and welcome to #Bitcoin and #Nostr. It’s been amazing to watch your journey down the rabbit hole since our lunch together.
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Replies (7)
Bitcoin already failed at being a medium of exchange at scale. That's why you see Bitcoin OGs pushing Monero these days.
I don't know any Bitcoin or Monero OGs. Do you?
But I also disagree with your statement. Monero has come nowhere close to reaching the transaction throughput needed to prove it could do any better than bitcoin as a layer 1 network "at scale".
In fact simple math will show monero's block(chain) size would grow more quickly than an unbounded BTC and would therefore centralize more quickly as well.
That problem has never been solved on layer 1 by any chain.
Niether btc nor xmr have done huge amounts of MOE yet. But layer 2 tech on bitcoin is poised to be ready as it begins to.
You are talking to a 2010 guy. And yes I know plenty of people who saw BTC's potential starting as early as 2009. I don't have a grudge with Bitcoiners who came only after 2014. I know people need time in the market and certain experiences to readjust their view and strategy.
Being a proponent in Monero is nor different than being a proponent of Bitcoin in 2012. Lots of fiat nocoiner loud mouthes. Almost noone with enough foresight. Bitcoin was a scam back then, just like most Bitcoiners see Monero as a shitcoin today.
Then perhaps you recognise my 'name'. Our time is similar. I helped with monero since 2014. And i will call it a shitcoin but with my tongue somwhat in my cheek. My views on it are nuanced i believe. I have held some for more than 10 years. I do not think it can replace bitcoin. And bitcoin has no chance at all to catch up with its privacy any time soon.
In the early days monero folks were bitcoinners first. But ones who saw the need for what XMR (MRO if you remember) achieved. As time went on the monero community took on the look of the big blockers. Vitriol. Jeslousy. Spite. And ideslism of course. Some good ideals. Unfortunately the spitefulness seems to be a significant thread in the community still.
And yes the black and white gatekeping maxis are annoying too.
Plenty of usenet style religious flamewars still being fought.
Anyway i kneejerk a little sometimes... sorry bout that.
Yes, I remember.
Monero doesn't need to catch up with Bitcoin as investment vehicle. It only needs to be used in commerce. That's the adoption that counts, now that we have a digital store of value and atomic swaps between Monero and Bitcoin.
The swaps seemed very high friction last I peeked. I should look again.
Because the UX still sucks. RetoSwap seems to work "better" and has some decent liquidity.
Serai hopefully brings high liquidity to BTC<>XMR
