Oddbean new post about login | logout A 90% dump means BTC at 6k. The thing about Monero is, that we are already through this. There is no one left in centralized third parties to dump it. Any sell off in BTC will increase the ratio between XMR and BTC. Anyone demanding privacy in a world without privacy will increase the ratio against Eurodollar and CBDC.
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Genuine question from someone who doesn't know much about monero I thought that it was 100% private in that you can't track any transactions or know how much someone is holding. So how can you make the statement that there aren't any centralised monero holders that can dump 🤔
But seriously, monaros live in a parallel fluffy bunny universe
CEX and other custodians hold coins for their customers. Though some are running fractional reserves. As almost all CEX have already delisted Monero ore are going to do so soon means that all coins are held in self-custodial wallets. Monero is not advertised as an investment. Although there may be still a couple of OGs left with big stacks it's all self-custodial. So ideally no way for government to extract any further value from it through taxes like with KYC BTC that need to get sold against the corresponding USD value when using it or exchanging for fiat. Monero has almost zero downside from here. Which ironically makes it a perfect store of value, despite not being a good investment.
I respect Monero, but I’m not here for altruism. How can you expect people to HODL a coin that keeps losing purchasing power year after year? It doesn’t even keep up with inflation.
Freedom/privacy has value. It's not altruism. And I doubt Monero will behaving as lame and "under control" as it did for the last 6 years. It's about time to show its nasty side. Which means going back to 2010 BTC, but this time with decentralised infrastructure so it can not be taken down or brought back under control by uncle Sam.
I’m rooting for you guys but personally I’m not a risk taker. In the long run Monero can never outperform bitcoin. So the best bet is just buy bitcoin and swap into Monero when needed.
