BTCMeansFreedom4All on Nostr: I've been #discussing with a user on here about Monero or #Bitcoin being better. I ...
I've been #discussing with a user on here about Monero or #Bitcoin being better.
I felt my last response to their view that Bitcoin has no advantage over FIAT when it is primarily moved through large institutions was worth its own note which I am posting here with minor edits:
No advantage over #FIAT is laughable. #Bitcoin being #debasement proof is it's biggest advantage over FIAT. The #government's primary source of #power, fueling it's ability to be a #surveillancestate, is it's ability to #steal #wealth by printing money which Bitcoin stops.
#Meanwhile BTC having it's block subsidy continually reduced by half every four years, thus pushing the value of every ₿ in existence up due to it's increasing marginal cost of production over time, is it's biggest advantage over #Monero.
It used to take 10 min to create ₿50 and they were worth much less, now it takes 160 min (2.66 hours) to create ₿50 and it's worth much more. In 12 years it will take 1280 min (21.33 hours) and in 40 years it will take 163840 min (2730.66 hours). Every time the #halving occurs Bitcoin's #time-cost of production doubles, dragging along the value of already existing coins with it. This relation to time is it's driving factor for value, and BTC's main reason for being the best #storeofvalue ever found.
Monero fixing it's subsidy to it's current #TailEmitions forever means it is never going to become more valuable related to time, so it's value is #stagnant and loses to Bitcoin.
Despite Monero having better on chain privacy, it's inability to increase it's value relative to #finite human life/time does nothing to fix our #financialsystem. In addition, it will not bring about a new age of global abundance through incentivising the production of electricity globally (like Bitcoin does) to give our species the energy it needs to grow beyond our current abilities. Monero is very useful to those who use the darknet and prioritize privacy above all else, it is not very useful at freeing humanity from it's self imposed bondage. But Bitcoin is.
#Fixthemoneyfixtheworld
I felt my last response to their view that Bitcoin has no advantage over FIAT when it is primarily moved through large institutions was worth its own note which I am posting here with minor edits:
No advantage over #FIAT is laughable. #Bitcoin being #debasement proof is it's biggest advantage over FIAT. The #government's primary source of #power, fueling it's ability to be a #surveillancestate, is it's ability to #steal #wealth by printing money which Bitcoin stops.
#Meanwhile BTC having it's block subsidy continually reduced by half every four years, thus pushing the value of every ₿ in existence up due to it's increasing marginal cost of production over time, is it's biggest advantage over #Monero.
It used to take 10 min to create ₿50 and they were worth much less, now it takes 160 min (2.66 hours) to create ₿50 and it's worth much more. In 12 years it will take 1280 min (21.33 hours) and in 40 years it will take 163840 min (2730.66 hours). Every time the #halving occurs Bitcoin's #time-cost of production doubles, dragging along the value of already existing coins with it. This relation to time is it's driving factor for value, and BTC's main reason for being the best #storeofvalue ever found.
Monero fixing it's subsidy to it's current #TailEmitions forever means it is never going to become more valuable related to time, so it's value is #stagnant and loses to Bitcoin.
Despite Monero having better on chain privacy, it's inability to increase it's value relative to #finite human life/time does nothing to fix our #financialsystem. In addition, it will not bring about a new age of global abundance through incentivising the production of electricity globally (like Bitcoin does) to give our species the energy it needs to grow beyond our current abilities. Monero is very useful to those who use the darknet and prioritize privacy above all else, it is not very useful at freeing humanity from it's self imposed bondage. But Bitcoin is.
#Fixthemoneyfixtheworld