For one, % hashrate of publicly traded corporations of the total network is increasing year over year and approaching >50%. It's trivial to regulate public corporations.
For two, improvements to Bitcoin as p2p money are fundamentally stalled out. Covenants are going nowhere anytime soon. Lightning isn't a proper long term solution.
It's good we have Monero in case those 2 lead to Bitcoin's failure. We all benefit from a stronger Monero too.
Replies (5)
Monero is literally controlled by devs with no decentralized protocol to make decisions.
The protocol is: "GitHub community consensus"
Who's against full chain membership proofs? 😂
Idk... These companies are beholden to the government. I don't assume they're going to be regulated to harm Bitcoin, but it's silly to 100% discount the possibility.
It's too difficult for regular people to use in a self custodial way. The abstractions that wallets like Muun and Phoenix use are not scalable long term (and neither is Lightning due to the number of channel openings that would be necessary to serve global scale). Ark is a better long term direction.
Like if US corpos held 60% of the hashrate, and could stop Iran or North Korea from receiving Bitcoin, I can easily imagine the government tapping into that.
The current crop of free market capitalism isn't saving Samourai. Allowing people to transact freely is not actually in the cards already.
