BitcoinIsFuture's avatar
BitcoinIsFuture 2 months ago
Fiat also has inflation because central banks print fiat out of thin air. But they are not bad in your opinion? They who actually financially enslave ordinary people? Did you know about the second successful 51% attack on Monero? "What happened technically: An 18-block "reorg" (reorganization) hit the Monero network - meaning that 18 blocks the entire network believed to be valid and permanent were suddenly discarded and replaced by an alternative version of history. To put this in perspective, reorganizations of more than 2-3 blocks are extremely rare in established blockchain networks. The financial outcome: 55 confirmed double spends (the same money spent twice) and 115 transactions completely invalidated. While we cannot know whether these were merchants, exchanges, or individuals transacting, this matters little in the face of real double spending scenarios - someone lost real money." Have fun.

Replies (3)

pookiebear's avatar
pookiebear 2 months ago
No, in my opinion, it is very different in the case of fiat. I already talked about this here (a previous note, i can't seem to quote it here apparently but here is the link): View quoted note → Personally, i am willing to accept fixed and predetermined inflation of my currency if it is sovereign and private. Plus, neither Monero nor Bitcoin prices correlate well to their available supply. I am well aware of the 18 block reorg, and its implications. Though -such an attack could only mean governments are scared of Monero's privacy -qubic is now targetting Dogecoin and abandonning Monero, supposedly because it cost them too much money Don't get me wrong, i still think Bitcoin is a superior store of value, precisely because of this inflation, and i'd rather hodl BTC than XMR. Though, you have to admit privacy features are lacking in Bitcoin, which Monero provides.
Banks loan money to the government with interest that they print from nothing forcing the Gov to loan more and more to pay back interest. That's not how monero works. Like it literally says a fixed supply in the picture you shared
this retard or should I say his AI? got the facts wrong. the block reorg did NOT result in *any doublespends, let alone 55. the txs that were reorged out simply returned to the mempool and confirmed later. there was no double spend attempted. maybe dont rely on obviously AI generated "articles".