Jeff Swann @Jeff Swann - 1y
This is a misunderstanding of why money exists. The most saleable good is the one that everyone wants. If no one wants to hold your money long term then why accept it at all? It's like saying my car doesn't store fuel well because it is meant to be driven & not parked. But storing fuel is a critically important part of being available to drive. Bitcoin has privacy layers with better liquidity & no exchange rate risk/cost. Monero has no real plan to scale, weak network effects, & ultimately no future.
Broadcast networks don't scale. Dynamic blocks will just ensure that payment layers won't develop & the base layer will ultimately centralize. The design ensures a slow march toward a dead end. nostr:nevent1qqsfu0dws7t435g3dxmmkgu32t0wr54vkv6avvd2hehvm0zgwmmvg0cpr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgswex0dc4t8uq5pt7c4qgpgtch6swgfx88d7kwg844m930kac2npwgrqsqqqqqpmrr5l6
The process of monetary adoption, is store of value > means of exchange > unit of account People are at different stages of this process, institutions are just entering the store of value stage, sone long term bitcoiners are already reaching the unit of account stage. But currency use will primarily happen on 2nd & 3rd layer networks which either do not yet exist or are not yet mature (because broadcast networks don't scale). There are multiple consumer grade low power hardware options for people who want to mine bitcoin. My brother & lots of others are using waste heat from larger miners to heat their homes. Saying it's not accessible is kind of ridiculous. But even if mining was largely inaccessible, that's less of an issue so long as everyone can run a full node & fully audit the system.
Checks, debit, cash, & bank wires are like #lightning, #liquid, ecash, & other Bitcoin scaling layers. The layers are good for privacy. There is no reason to use a different monetary token & deal with exchange costs & risks & lack of acceptance.
Bitcoin is always going to show a clear path back to issuance, that's how triple entry accounting works & is one of the key innovations we need to prevent inflation & counterfeiting. Some of the richest people in bitcoin are anonymous cypherpunks who quietly go about their lives. Providing liquidity for more private payment layers helps them as much as it helps others. Privacy is still possible with traceable base layer txns. Moving money through other layers breaks the clear link to ownership onchain.
Why use Monero's future L2 if blocksize is dynamic & can adjust to any demand? There is no exchange risk when swapping between BTC tokens. Liquid to LN swaps happen in the background when you make a txn from a wallet. So if someone doesn't support Liquid they get a LN payment instead. There will be similar bridges to everything else & LN forced closes will mostly be LSP problems, not average consumer level issues.
