Oddbean new post about login | logout So, you think XMR is a generally superior coin? For both wealth building and executing transactions?
Everything is tradeoffs. The main downside of Monero is the hash rate is low enough and mining hardware is available enough that a dedicated adversary could mine empty blocks for considerable time but otherwise yes monero is superior as a monetary instrument.
Do you think we'll see mass adoption of Monero similar to Bitcoin? Because in order for a transaction instrument to be truly useful, it has be widely accepted. I feel like it's still a niche coin.
If adoption is the most important metric then stick with USD. Monero is essentially where Bitcoin was 7-8 years ago. There wont be any sort of mass adoption of monero until theres a crisis. Runaway inflation or a 6102 type event. Which is why people dont think they need monero until they do.
Sadly, I fear one of those crisises is on the horizon.
Well in the short term anyway, Bitcoin number go up. but its well on its way to being a regulatory captured part of the investment landscape. on a longer timeline monero is where people should be IMO
BTC can be useful as a store of value, but monero is best for transactions.
Nothing to do with wealth building. The idea was to create an anonymous electronic money, privacy in mind, not fiat. It's a tool to free us against corrupted government which are trying to enslave us, if you HODL and don't use it, crypto is useless.
That's sorta how I was thinking about. That XMR is best suited as a transaction instrument to be used like any other currency.
Not exactly, when we see how USDT are frozen by Tether, how Ethereum is censored and how Bitcoin is becoming censored too, step by step I understood XMR is best suited to keep wealth that can not be frozen, independently of the price. That's the real interest of it, having money over the internet that can not be censored, Bitcoin is becoming censored and will be even more, it's inevitable because of the mining centralization by big corporations.