0 sats \ 5 replies \ @Zepasta 7 Sep 2023 \ parent \ on: Convince me, a bitcoin fanatic, why Monero is the future of crypto. bitcoin
- "Less than 1% of bitcoin mcap, but often 5-10% of Bitcoin's tx count. This disproportionate usage should tell you something."
Even if Monero has 5-10% of Bitcoins tx count, Monero has 100+ times less volume.
Most small transactions are being done inside Lightning Network, if we include them, Monero drops to less than 1% of Bitcoin tx count.
Lightning has $126 million flowing through it.
Monero has $2.6 billion.
Outside of these little bubbles no one uses lightning. Much less use it in any fully sovereign manner. ~96% of LN users are on custodial wallets. So even with this small lightning usage can you really even count that as "using"? Debatable.
There is virtually zero usage of lightning in adversarial environment free markets like DNMs where Bitcoin was born and these things are mercilessly put to the test. Monero is used as much as Bitcoin there as of late 2021. Most likely has already surpassed Bitcioin.
Monero does ~8x more transactions in proportion to market cap vs Bitcoin.
And Bitcoin volume is virtually non-existent vs fiat...but that is a single metric and doesn't account for other value props of Bitcoin that make it unique, right?
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Have fun staying surveilled, tainted, and growing poorer with every use.
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Good luck surveiling my LN transactions and Coinsjoins.
Also good luck with your rank 25 shitcoin that somehow has negative returns in YTD while Bitcoin and most shitcoins up +50%.
I will bookmark this comment and we will check again every few months.
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Good luck to you both! And a merry christmas!!
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