Change my mind:
Monero (XMR) is superior to Bitcoin in every way.
Of course this statement is provably false. Bitcoin is superior in multiple ways:
- First to market advantage.
- Higher liquidity.
- More exchange listings.
- Higher security & hash rate.
- Institutional acceptance.
But on a technical level...
Monero is a superior clone of Bitcoin.
- The mining algorithm (Cryptonight) is ASIC resistant. You can mine it with a CPU, which is good for decentralization.
- Privacy is the backbone of fungibility. And fungibility is the backbone of currency.
While these two things don't seem like much, they are everything.
The fact that Cryptonight can still be profitably mined with CPU is legit a miracle at this point. We've never seen an algorithm like this be used this long and still be ASIC resistant. It's really amazing on a technical level that allows way more devices to participate in the mining process.
Imagine combining this with the SPEAK network. We could set up a SPK node, but what are we going to use the CPU for? We could use every part of the buffalo and mine Monero with it, since SPK doesn't use a ton of CPU power. Combining these technologies might allow us to monetize our CPU, SSD, RAM, and internet bandwidth simultaneously.
Privacy matters
So I'm hearing rumors (confirmed by Google) that Monero might get a listing on ThorChain (RUNE). This completely changes the entire game. Imagine the ramifications of this development. I've already talked about crypto in the context of a Sliver Deck. Every crypto that enters the cryptosphere adds utility to all the other cryptocurrencies. Imagine what happens when we link the liquidity pools together with a privacy coin that's been delisted from most of the KYC exchanges. Wow!
Monero has been extremely oversold for a while now because of the regulators, but there will be a massive reversal eventually. I will personally buy a ton Monero if/when it gets listed on ThorChain. Decentralized exchanges and permissionless architecture are the future. Thorchain is exactly the kind of unstoppable liquidity pool that Monero was lacking.
Mercury retrograde starts today & ends Feb 3.
Often times a Mercury retrograde would signal some kind of reversal in the market. Considering we have a full moon coming in three days we may actually see the price rocket up from here if we're lucky. Of course our last retrograde was not super pretty.
The last Retrograde wrecked the market something fierce, but it was also during a time that BTC was bubbled in that Wyckoff pattern and started during a bearish new moon. This one is a bit different with the new moon starting in 3 days, so hopefully we don't stay suppressed like we saw last time. Also interesting that this retrograde is a lot shorter than the last one. I won't pretend to know why that is. It's only a bit over 2 weeks. Should be interesting either way as we head into late January.
Institutional Acceptance
This is the one thing that ultimately separates Bitcoin from Monero. Monero is a regulator's nightmare, while Bitcoin allows money to be easily tracked from one KYC bottleneck to the next. Bitcoin is very hard to trace if the money going through institutions is hidden. Meaning: Bitcoin is extremely private for people and institutions that already have financial privacy. This is exactly what the establishment wants. This is why so many centralized exchanges have delisted Monero.
Rules for thee; not for me.
However, once Decentralized Exchanges take over, the entire game changes. Again, Monero is extremely oversold because all it's liquidity pools have come under scrutiny and attack. Once listings like Rune happen it will see a huge resurgence, allowing all the value on Thorchain to become exponentially more private than it was before. It will be quite the sight to behold.
But I have nothing to hide!
There will almost certainly be a propaganda campaign against all privacy coins once they start getting listings on decentralized exchanges and can't be regulated. Don't fall for the bullshit. Everyone has a right to privacy. Don't try and let anyone tell you otherwise. Prisons are filled with plenty of innocent citizens that waived their right to privacy and are now in jail because of it. Never give up your rights because someone tries to tell you that excersizing your "God Given Inalienable Rights" is "Suspicious".
It's more sus to claim that privacy is a threat.
This is written directly into the constitution for a reason. There is no argument: privacy matters.
Lack of privacy destroys fungibility.
Without privacy money can be blacklisted. If money used in a crime is worth less than "whitelisted" money, that destroys fungibility, because all of a sudden the blacklisted money is worth less than the whitelisted money. There are many confirmations, even by the FBI and Secret Service admit that currency isn't currency without privacy/fungibility.
There are court cases that set precedent to this effect as well. A bank once traced stolen money and demanded it back. However, because the entity in possession of the money was not a criminal, the supreme court denied the bank to reclaim it, citing fungibility as the primary reason to deny the request. Money is money and is interchangeable with any other piece of money. Once the criminal has washed the money through the system, the trace had been lost and the bank was no longer entitled to reclaiming it from a law-abiding citizen.
Conclusion
Monero and all other privacy tokens are massively undervalued. The stronger decentralized exchanges become the stronger privacy tokens will become. At the same time, they extend their privacy attributes to the entire cryptosphere and allow all the value stored here to become exponentially more fungible private as we bridge the liquidity pools in a permissonless way.
Our right to privacy is a basic human right.
Anyone who tries to take it from us is an enemy to freedom.
Posted Using LeoFinance Beta
Return from Monero Superiority to edicted's Web3 Blog
