pookiebear's avatar
pookiebear 2 months ago
No, in my opinion, it is very different in the case of fiat. I already talked about this here (a previous note, i can't seem to quote it here apparently but here is the link): View quoted note → Personally, i am willing to accept fixed and predetermined inflation of my currency if it is sovereign and private. Plus, neither Monero nor Bitcoin prices correlate well to their available supply. I am well aware of the 18 block reorg, and its implications. Though -such an attack could only mean governments are scared of Monero's privacy -qubic is now targetting Dogecoin and abandonning Monero, supposedly because it cost them too much money Don't get me wrong, i still think Bitcoin is a superior store of value, precisely because of this inflation, and i'd rather hodl BTC than XMR. Though, you have to admit privacy features are lacking in Bitcoin, which Monero provides.

Replies (1)

BitcoinIsFuture's avatar
BitcoinIsFuture 2 months ago
1. The attack on Monero does not come from government. It comes from economically incentivized people who get more money when mining with the attacker. It also shows weak design. It happened two times. 2. "fixed and predetermined inflation of my currency" is wishful thinking. You have had how many hard forks? 14, 15, 16? It can change at any time. It is a bad desing. You sound like Powell and Lagard - 2% inflation is good for the people. Inlation is theft. Any inflation on the money is theft. 3. About the privacy in Bitcoin - check the research of SuperTestnet on Lightning vs Monero Here answering probably to a friend of yours:
BitcoinIsFuture's avatar BitcoinIsFuture
>People think inflation is rising prices. What kind of disgusting Keynesian propaganda has brainwashed you? Central banks create fiat out of thin air (put it into debt) and create inflation which in fact is a theft from ordinary people. Central banks financially enslave ordinary people by creating fiat out of thin air. You need to study economics harder, maybe read about Cantillion effect. "Cantillion’s contribution to monetary policy is just as important today. In Essai, Cantillon provided an advanced version of John Locke's quantity theory of money, focusing on relative inflation and the velocity of money. Namely, when you print money, it causes more pounds to chase fewer goods, pushing up the average cost resulting in inflation. His theory has been dubbed ‘The Cantillion effect’, and is a lesson to us all on the effects of inflation ‘financing the financiers’. " https://www.adamsmith.org/blog/the-cantillion-effect
View quoted note →