notoriousxmr on Nostr: I'm going to be frank with all of you. I feel like the reason why we've gotten to the ...
I'm going to be frank with all of you.
I feel like the reason why we've gotten to the point where #Bitcoin (and other cryptos to be honest) has became so popularized by corporations and governments alike is because the level of privacy that it has is severely outdated. Back in the early 2010's, BTC would be challenging to track. Fast forward to today, and there are countless ways to track BTC transactions and wallets, such as companies like Chainanalysis, and even websites like Blockchair where one address string is pasted and you can just follow the money trail using OSINT skills. You don't need a degree or even certifications to do this.
The reasons for why corporations and governments have such a massive interest in cryptocurrency is for separate reasons. For corporations, they can track addresses and wallets and use them to sell data much like what Google and Facebook do. In other words, money. For governments, the public blockchains provide ways to find more sneakier ways to evade taxes, as well as tracing all transactions for a social credit score and CBDC.
On the other hand, you don't see privacycoins like #Monero, #Dash, or #ZCash get the same treatment. They don't get the same worship that BTC was because they are of no benefit to corporations or governments because they cannot sell data or track anybody. As a result, governments are better off just banning them, not just in countries that have crappy human rights records like China, but even the "pro-democracy" states like the U.K and Japan banning them. If the State is unable to appropriate something for its own selfish gain, then what is it left to do?
The point is, the popularity of BTC is a double edged sword. While it is changing lives, it's also helping the same people who want to hurt those who lives are changed.
This is the very problem that BTC maxis cannot comprehend. You can't just look at the micro level, or the level of the individuals, you also have to look at the macro level too, or society as a whole. BTC is making people wealthy and getting them out of debt. Great. Now what is it doing for the other actors in society? The banks, the corporations, academia, the government, and so on and so forth.
XMR is more P2P and decentralized in my opinion because it cannot as easily be exploited at the macro level because it's impossible to harm people with thanks to its features, but it exchanges this fact for less popularity.
I feel like the reason why we've gotten to the point where #Bitcoin (and other cryptos to be honest) has became so popularized by corporations and governments alike is because the level of privacy that it has is severely outdated. Back in the early 2010's, BTC would be challenging to track. Fast forward to today, and there are countless ways to track BTC transactions and wallets, such as companies like Chainanalysis, and even websites like Blockchair where one address string is pasted and you can just follow the money trail using OSINT skills. You don't need a degree or even certifications to do this.
The reasons for why corporations and governments have such a massive interest in cryptocurrency is for separate reasons. For corporations, they can track addresses and wallets and use them to sell data much like what Google and Facebook do. In other words, money. For governments, the public blockchains provide ways to find more sneakier ways to evade taxes, as well as tracing all transactions for a social credit score and CBDC.
On the other hand, you don't see privacycoins like #Monero, #Dash, or #ZCash get the same treatment. They don't get the same worship that BTC was because they are of no benefit to corporations or governments because they cannot sell data or track anybody. As a result, governments are better off just banning them, not just in countries that have crappy human rights records like China, but even the "pro-democracy" states like the U.K and Japan banning them. If the State is unable to appropriate something for its own selfish gain, then what is it left to do?
The point is, the popularity of BTC is a double edged sword. While it is changing lives, it's also helping the same people who want to hurt those who lives are changed.
This is the very problem that BTC maxis cannot comprehend. You can't just look at the micro level, or the level of the individuals, you also have to look at the macro level too, or society as a whole. BTC is making people wealthy and getting them out of debt. Great. Now what is it doing for the other actors in society? The banks, the corporations, academia, the government, and so on and so forth.
XMR is more P2P and decentralized in my opinion because it cannot as easily be exploited at the macro level because it's impossible to harm people with thanks to its features, but it exchanges this fact for less popularity.