Oddbean new post about login | logout Problem is I cannot preserve my purchasing power with XMR
Do you need to protect 100% of your purchasing power and 0% of your privacy? Or wouldn't it be sufficient to protect 90% of your purchasing power andn with the remaining 10% you get 100% privacy? Also, it's highly unlikely Monero will under perform any fiat currency or gold. Its inflation sits at 0.8% (half of gold, half of BTC) and its supply will be smaller than BTCs until 2040.
And if by purchasing power you mean the XMRBTC market can stay irrational longer than you can stay solvent. Look into hedging.
There’s no second best. As it is people don’t give a shit about the privacy improvement BTC represents over traditional banking. Trying to convince people to use XMR is just not gonna happen. It will continue to remain a niche within a niche. Nothing wrong with that, but it’s NGMI in the main stage
Eventually when people are actually using and earning bitcoin P2P there will be even less of an incentive to use monero, especially if the using and earning happens over lightning or ecash
lightning uses onions! they don't make enough of that point nor do they really exploit it enough in their protocol design part of the reason why payments fail is because they are client side onions and a hop in the path is ded or unresponsive temporarily
The massive centralizing routing hubs of LN reduce and sometimes even negate the benefit of onion routing. But this is besides the point because 95% of LN users are on custodial wallets or LSPs that give them none of that privacy anyway.
Lightning does not have the default, well-rounded, strong privacy of Monero. It's designed around fast and cheap payments for retail with privacy as an afterthought. ecash is custodial and mints can print unbacked tokens, so it's dodging 2 out of the 3 major pillars of Bitcoin
The guy who said that also said "Maybe you need a Monero" so pretty funny If Monero remains a dark market niche that would be fine. Any crypto use on white markets is asking permission by definition, no matter how popular it becomes, defeating the entire point of it. You're right though people really don't give a fuck about privacy. But they also don't care about sovereignty that Bitcoin offers either. Both of which are taken for granted until it affects them. All that potentially matters for the general public is Bitcoin price exposure and custodial instruments which means easy price manipulation.
This sounds like major cope
You mean it's cope when I don't believe that an asset more scarce than BTC and with half the inflation won't indefinitely fall against it?
Indefinitely? 🤣🤣 XMRBTC is objectively trending down. Lower lows and lower highs. Scarcity doesn’t matter when you’re missing DEMAND. You should long XMR and short BTC to express your strong delusions.
XMRBTC is objectively slightly up/break even over it's lifetime. There is a reason people jokingly call it the real stablecoin If price performance is your goal - it's much smarter to swing trade some of your BTC into the big macro trends that occur during the period around roughly a year after the halving, and then sweep profits back into BTC roughly a year before the next halving - instead of purely hodling
Then don't hold it, use it, and save in Bitcoin and you sidestep that problem Performance also highly depends when you bought that XMR and how long you hold it. Days, weeks, months, a few years? No one knows how XMR/BTC will perform on those scales. It's anyones guess. Did you buy back at the start of 2021? You're about even Did you buy a year ago? You're down Did you buy a week ago? You're up Are we near a crypto bull market? probably smart to swap some XMR to BTC Are we near a crypto bear market? probably smart to swap some BTC to XMR