theguy on Nostr: I don’t claim CJs provide a perfect 100% privacy, however in practice it is nearly ...
I don’t claim CJs provide a perfect 100% privacy, however in practice it is nearly impossible to trace thoroughly mixed coins, which for 99% of the use cases is good enough. Also 500+ BTC daily volume on just a single Wasabi coordinator seems like a relatively high volume to me, enough for most of the people. Being wrongly associated with criminals by criminals will always be a thing until all governments will die out. Nothing stops them to associate you with criminals just by the fact of you using Monero - the problem here is the government, not the underlying asset.
Again, cash is not perfectly fungible (not even talking about other cryptos). And providing services or selling products without using centralised payment providers at any point is more viable with BTC. I myself buy and sell things in Bitcoin relatively easy due to it being a good MoE. Every day a growing number of people and businesses accept BTC and keep it (at least most of it) without converting them to other assets and introducing additional privacy risks.
Indeed Dogecoin is easy. And as any other shitcoin it found it’s BTC ceiling and started it’s long way to complete irrelevancy. On a long term timescale not a single financial asset competes with the hardest money.
I don’t think they mean that MoE is the most important part. It is a foundation, but without other properties of Money it does not make for a truly hard asset suitable for the role of Money. Take USD. Is it used as a MoE? Yes. Can it be called money? No, it is a soft asset that leaks value over time by design. MoE is important, but a building foundation without roof and walls is uninhabitable.
So what do you see from the Bitcoin dominance chart you shared? Obviously in an ever growing market of shitcoins it is expected for BTC dominance to lower until some level in the beginning. But to me it is clear that after people fuck around and find out, not even the bull market hype and continuesly growing number of shitcoins can long term suppress BTC dominance.
Again, cash is not perfectly fungible (not even talking about other cryptos). And providing services or selling products without using centralised payment providers at any point is more viable with BTC. I myself buy and sell things in Bitcoin relatively easy due to it being a good MoE. Every day a growing number of people and businesses accept BTC and keep it (at least most of it) without converting them to other assets and introducing additional privacy risks.
Indeed Dogecoin is easy. And as any other shitcoin it found it’s BTC ceiling and started it’s long way to complete irrelevancy. On a long term timescale not a single financial asset competes with the hardest money.
I don’t think they mean that MoE is the most important part. It is a foundation, but without other properties of Money it does not make for a truly hard asset suitable for the role of Money. Take USD. Is it used as a MoE? Yes. Can it be called money? No, it is a soft asset that leaks value over time by design. MoE is important, but a building foundation without roof and walls is uninhabitable.
So what do you see from the Bitcoin dominance chart you shared? Obviously in an ever growing market of shitcoins it is expected for BTC dominance to lower until some level in the beginning. But to me it is clear that after people fuck around and find out, not even the bull market hype and continuesly growing number of shitcoins can long term suppress BTC dominance.