Oddbean

What is a store of value if not a boring thing that keeps prices of everday things in check. The minute BTC is fully capitalised and works as an actual store of value you will want to seek shelter in a more private form as tax enforcement will try to haunt you down. Most offshore banks operate with USD despite it being a mediocre store of value. We are living in the era before store of value, where BTC works as the best investment ever? created. A time where inflation and crumbling trust in fiat institutions gets observable and tradable again through BTC. Enjoy it. The next era will shift attention and excitement from Bitcoin to Monero. And by that Monero's mediocre store of value qualities despite currently having the same inflation as Bitcoin and less circulating supply will resolve itself in the capitalisation phase as it will be seen as a giga chad hedge against both transparent/taxable BTC and failing fiat currencies.

You’re speculating long into the future. I don’t know or believe that the future looks the way you envision. Monero has infinite inflation so saying that it’s identical to bitcoin is wrong. Bitcoin has no inflation. Supply limit is capped. Monero’s supply is not capped. You are comparing Bitcoin’s issuance of a capped supply to literal inflation in monero. It is not the same thing. If monero’s market cap remains low and the price doesn’t improve, it will not work as a medium of exchange. Selling a couple million dollars of monero would tank the monero price. Your medium of exchange “may” still be private but you’re poor now.

Selling for products and services won't tank the price. That's what a circular economy is for. Monero's disinflation is limited by time and known 1000+ years in advance. It's a tradeoff made to guarantee security of the network in case fees are not sufficient.

I think I am right when I say that most of us who use Monero, do just that - using it - as a currency. As you pointed out, it has never proved itself to be a store of value, but that's ok too, provided that there are trustless ways in and out of Monero from Bitcoin. Monero is for spending, Bitcoin for hodling and savings (and yes, I know, Lightning and all that, but I don't see big-amount transfers being possible on Lightning anytime soon)