• 3 Posts
  • 20 Comments
Joined 1 year ago
cake
Cake day: June 15th, 2023

help-circle

  • Hidden amongst all your bullshit (which Bobr has dissected) you do have a few reasonable points

    barely handle the transaction throughput of Visa

    Firstly that’s a non-sequitur, you don’t need Visa throughput to be a currency, but scalability is a genuine issue in the long term. That will need a 2nd layer technology, probably using sharding or other approach for more parallelism and throughput.

    Monero is confusing for average people

    Generally true. Any self-custody solution will be more complex than just trusting a bank service, but substantial UI improvements can be made and some trusted simple apps will develop.

    Monero is centralized

    There is currently a small group of developers and researchers, but they are distributed geographically and not connected except by their involvement in the project. All hosting and communication occurs on multiple platforms, including distributed ones like this one. It’s one of the most decentralized open-source projects around, certainly far better than BTC or ETH for example.

    will not be allowed to be hard-forked

    Bullshit, no-one can prevent hard-forks. Both source-forks and chain-forks can be created by anyone. That is a concern actually as bad actors can cause confusion.

    community can’t decided unilaterally … technical stagnation

    It will be the reverse. Unanimity or a centralized foundation would cause stagnation. Monero has had forks in the past, and it will have more in the future. That guarantees technical innovation. Customers will choose their preferred version. It’s a free market for currency innovation.












  • The US dollar has lost about 98% of it’s value since 1971 yet people still use it in trade rather than gold or silver or a better fiat like Swiss Franc. Don’t underestimate the power of inertia. Just because USD has inflation problems doesn’t mean XMR is about to take off. It will take hyperinflation or a currency crisis and even then better-known cryptos like BTC or LTC will be the first choice for normies.




  • KYC is being used by many businesses as a convenient gatekeeping tool

    The more important point is that the state has the gatekeeping and tracking power, they can see your transactions and refuse access because of “suspicious activity”. The business is just “complying with regulations”. If it was a business decision you could just find another.








  • At some level it’s the fear of backing the wrong horse. To feel safe you have to be a “maxi”, and to be a “maxi” you have to deny anything else can work. Bitcoin is the first crypto most people find, and the “everything else is a shitcoin” message creates a self-reinforcing cult atmosphere. The fact that mot altcoins soon fail reinforces that.

    Almost all bitcoiners are there for “number go up” profit, so the price volatility also creates a lot of anxiety. The ones that stick with it become very committed HODLers. It’s a bit like an abusive relationship, the pain makes you commit more. Market psychology is fascinating, and is why emotional investors lose their money.