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
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Replies (2)

pookiebear's avatar
pookiebear 2 months ago
1) Fair, saying governments directly control Qubic is a shortcut. My point was that seeing Monero being attacked hints that Monero as a MoE is enough of a threat to fiat. But no, the design (referring to ASIC resistance I suppose) is not 'weak', Monero is simply not as mature as Bitcoin (especially in terms of hashrate). 2) I know I rely on a centralized group of devs to maintain & update Monero's Codebase. If they go rogue, (like core devs did -wink wink-), I'lll deny the abusive consensus changes. Tail emissions can change any time there is a consensus to (not anytime soon then). Once again, I do agree BTC is a superior store of value to XMR because of the inflation tail emissions it injects in the supply cap. But is BTC better as an MoE? I'm less positive about that. 3) Thanks for the podcast. From what i've listened, most of the points made in the video are aligned with mine: Privacy in Bitcoin is possible, but way harder to achieve.
Selfish mining attacks are possible with any PoW cryptocurrency even Bitcoin. It isn't something unique to Monero. If you voluntarily use a crypto that has inflation, no it isn't theft. No one forced anyone to use Monero. Gold mining isn't "theft" because more is mined every year. That would be ridiculous. Monero/gold mining is open to anyone, requires PoW, and is predictable Fiat inflation is closed to a select few, requires no work, and unpredictable To say those are the same thing is dishonest Any "fixed/predetermined" block reward or supply is only as good as the users that are in consensus with those rules. Code cant control people choosing to leave or join the Bitcoin network and taking their money with them.