Bitcoin fails on all promises from the early days, sadly.
- it is not decentralized, 12 mining pools have control
= it is not usable as p2p currency
- lightning is moving most users into custodial wallets
= not your keys and not your coins
- 1mb blocks are a joke, we have 2024 and a 12tb hdd costs $120
- fully transparent with zero privacy
- mints and etf's will dilute the 21m cap
Asic resistance is one of the key arguments for Monero .
Also mining by botnets creates a truly decentralized infrastructure. Botnet miners will not bend their knee to a tyrannical government.
Apart from that it is censorship resistant, has adaptable block size and fees are low. You can use it as a p2p currency.
The longer i think about it, the more it is clear to me:
Monero is the real Bitcoin and represents everything why i went into Bitcoin in the first place.
Most people will only understand its value when the government mandates to connect your digital ID to your BTC transactions.
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Replies (2)
what is botnet mining?
Mainchains do not scale even with 12tb drives.
If zaps had to be written on everyone's node that would fill up quick.
Monero works as a niche, but with a large amount of success it'll crumble.
The ASIC resistance will be regularly cracked when there's market incentive to do so.
The blockchain size will be stupid and unpredictable if it became popular.
I used to be on the ASIC resistance side back in 2017 but learned how difficult it is to keep fair.
I'd rather the rules be set and the market competes.
I run Bitcoin the og way, its possible with a few hundred dollars and hours.