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121 sats \ 7 replies \ @fiatbad 6 Feb \ on: Monero territory monero
Digital scarcity becomes worthless if we allow ourselves to value anything outside of the 21 Million Sats in Bitcoin. By adding Monero, you just devalue yourself.
That said, I can respect people who believe a different digital scarcity is "better" than Bitcoin. For example, B-Cashers who own zero BTC. This group makes more sense than someone owning BTC alongside XMR.
There are tradeoffs to everything. BTC makes tradeoffs in order to be the best at what it does. This means we have to live with some negatives.... we should NOT go off and "have-our-cake-and-eat-it-to". You find a way to make Bitcoin work for you.
Don't own two different digital-scarcity tokens, and don't support others who do either. Pick one, and die on that hill. If you want to pick XMR, fine. I respect that choice. But if you own BTC "just in case" also, then you're being disingenuous and lack virtue.
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I don't really see it. I understand what you mean, it just doesn't hold water to me.
Is the Dollar less valuable (ignoring that it is ultimately worth 0 for a minute) because people use Yen in Japan? Yes, actually, if people used Dollars in Japan it would be more expensive because of demand. But that doesn't mean it is undervalued. That means organic demand sets it's price (to the degree that can be true with a fiat currency). A money that has artificially created demand is overvalued.
And that's all it is, price discovery. Demand for Bitcoin will be what it will be, demand for whatever else will be what it will be. Refusing to use things that are useful in your life reduces value to you, and hoping that people choose to do that is a futile endeavor. It's not having your cake and eating it too, its using what's available to you as needed. We should do that. I shouldn't force myself to live with negatives I don't like. It's my capital. There's nothing virtuous about hamstringing yourself.
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That's a good position I've never heard before and it does make sense, I own both but that's to provide liquidity, I can create offers on robosats or retoswap and generate yield while the market participants need on-ramps and off-ramps to move from one asset to the other
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Would you ever use cash to buy something privately despite the fact that the dollar is going to zero against bitcoin? Of course you would. Use monero is no different except it's digital cash. You can hold bitcoin and spend monero.