TheGuySwann on Nostr: I don't think a simple privacy protocol is enough to justify the value of an entirely ...

I don't think a simple privacy protocol is enough to justify the value of an entirely separate money. The network effects and tendency toward consolidation in monetary networks is extraordinary.

I highly suspect the value of #Monero as measured in #Bitcoin will fall indefinitely. Maybe some of its network value will be sustained long term, kind of like Tor vs TCP/IP (open internet), but hard to say at this stage. Monetary transitions take a really long time.

I do stand by my comments that I think most of that community have cypherpunk values (rather than the outright stupid scams of the rest of "crypto"), and I think privacy is a very admirable value to be hyper focused on... but I genuinely don't think it keeps a separate monetary token alive on a long term time scale.

I think privacy will simply be a feature provided by many layers and networks that use BTC as their monetary base.