Topic: [XMR] Monero Speculation - page 1975. (Read 3313076 times)

Bitcoins, as an appcoin for xmr.to.

I doubt I will ever use Bitcoin again

lol you can buy what, exactly, with monero?

Once Monero has a GUI, I doubt I will ever use Bitcoin again. Monero will be superior in every possible way. (Except maybe user base and market cap at first, but that can be resolved  )

lol you can buy what, exactly, with monero?

To buy what lol

Once Monero has a GUI, I doubt I will ever use Bitcoin again. Monero will be superior in every possible way.

Where I live at least, some have gone from "laugh" to "fight" already, and that is intensifying. Bets hedged, waiting if the next stage comes 

There's no way you can suggest Monero will replace Bitcoin in public and not get laughed out the room.

Because I don't believe bitcoin is a technology.  Bitcoin contains technology but the $7.3 billion market cap is not a measure of that.  Bitcoin is money, and money is memory.  Money represents a shared agreement between the individuals who voluntarily use it.  Our shared agreement is that spots on The Blockchain represent value and one transfers his value by signing a message with his private key (e.g., in exchange for goods or services). 

Forget about bitcoin the protocol, and even bitcoin the payment network (nodes + miners), and focus on bitcoin as a shared agreement that the distribution of wealth encoded by the blockchain is efficient and legitimate.  If it wasn't efficient, large holders would sell, and small holders would buy.  If it wasn't legitimate, people wouldn't be willing to trade their time in exchange for bitcoins, and bitcoin would have collapsed. 

So the value of money (e.g., bitcoin) primarily comes from the legitimacy of its ledger.  The legitimacy of this ledger increases as more people adopt this form of money, and as time proves that it's not a passing fad. 

Viewed through this lens, it becomes clear that even a superior technology (although I question if one exists) would unlikely de-throne bitcoin the ledger, for the new technology would simple be adopted by the ledger as the new payment system. 

In my mind, the only thing that could dethrone bitcoin would be a more legitimate ledger.  But I don't see how it is possible to create one.   

There is another important feature of Monero apart from privacy and fungibility, the tail emission, it will actually start many many years from now, by that time Monero will be older than Bitcoin is now and still have less coins than it, but gone will be the "Smeagol factor", the perpetual inflation is minimal, and even today with current buy support would have a negligible impact in the price, but it turns Monero into a crypto more fit to be used as true electronic cash, while I expect Bitcoin to become an electronic gold.

99.999% (maybe even more 9s) of people in the world haven't even assigned a value to Bitcoin yet, let alone considered substituting it for something better. Is there a Big Mac index for Bitcoin? How many places that accept Bitcoin aren't converting straight to their native currency because we are still in the "is it worth thousands of $$$$ or is it worth nothing" phase? 21% of tips given through changetip on reddit go unclaimed and a lot of people still think it's just used for buying drugs or it went bankrupt. You gotta admit that it has a bad rep right now. Litecoin looks like it is going on a straight path to zero but you have to realize that Bitcoin has been following the same path which began at the same time and it offers no technological improvements over litecoin so why should it succeed when litecoin shouldn't?

I will add the disclaimer that I am another one of the people that no longer owns any Bitcoin unless they are used to purchase Monero or to use for sports betting because they don't take monero yet. There are some fundamental flaws in Bitcoin that make me think it will not succeed and some that make me not want to use it at all. Biggest is lack of privacy and the other is lack of scalability. If Bitcoin can address those two issues I would jump back in but it seems like there are too many cooks in the kitchen now to come to agreements on major issues. Two years ago I would have aggressively defended Bitcoin to someone saying the things I say now but I am losing faith.

 

this is nonsense. if you believe there will always be a better crypto then there is no use investing in them other than speculation and day trading.

there is such a thing as network effect. and bitcoin's own dwarfs monero's by a couple order of magnitudes.

protocols don't need to be perfect, they just need to be good enough and all signs point to Bitcoin being good enough.

Monero is unique from most other alts in that it does present a use case that the market demands and that can not (yet?) be filled by Bitcoin but I believe it is too little too late for Monero to supplant Bitcoin on technological merits alone