It has been a long time since I had enough time and energy to express my views on the trajectory and progress of XMR. But today I wrote something I think suitable to the moment, and someone might find it encouraging in times to come, so I will cross-post it here, with apologies for any redundancy:
It is easy to take a triumphalist tone during the rips. The real reward comes to those who can keep that flame burning through the dips. In fact, I believe we are much, much nearer the bottom than the top, even now.
There really is, even now, almost two full years into the game, nothing real and present which can compare to the excellent qualities of XMR as digital currency, pure and simple. Many innovative cryptocoins have introduced interesting technologies and economic models, but all of those features actually damage their ability to be used as currency. Those that come closest in features fail in various and diverse ways such that their distant miniscule liquidity is a profound and persistent handicap.
I have always said that if a superior currency were to emerge, I would change my allegiance as circumstances dictated. I see less and less likelihood of such an eventuality with each passing million USD of liquidity added to XMR. No, this is not a pump and dump. It is one tiny step, with leaps and bounds yet to come, and every inch of the way is hard fought, and every victory well-earned -- some paid for dearly. It is earned primarily by excellence in technology, and secured by honest and transparent dealings.
There are at least 20 trillions of USD in wealth held privately, away from prying eyes, extortionists, thieves, and kidnappers, which currently rely on very illiquid instruments, and some significant proportion of those trillions will need to pass through the eye of our little needle at some point. I believe that our tiny trickle will be compelled to grow into a mighty torrent of liquidity, through many disruptive stages over several years. And it has not begun but one ten thousandth of the way yet.
XMR technology continues a long methodical and responsible march towards a balance of those specific features required to function as an international fully distributed private currency, without counterparty risk, without vulnerability to the dictat of a central authority. The management of such an enterprise is frought with pitfalls, as nearly every cryptocoins project has demonstrated. Yet the meritocratic grass-roots development regime of XMR has avoided these traps nimbly, with a lot of hard work, motivated by a vision of positive social value and of just and worthy personal reward deriving from that honest added value.
I am encouraged and energized to be a small part of such an economy, and grateful for the opportunity to participate in some small way in the project of making the world a freer, safer, more just place for generations to come.
