They still see no value in Monero?
Accept, that Bitcoin is seen as digital gold, as something that is easily controlled and tracked and never will be actual money that challenges the status quo.
Once you are there, let go of your grief. There's still Monero and they will never make it a strategic reserve, create ETFs around.
In other words. It is money for the people and will be money for the people.
L0la L33tz
David Bailey just posted the draft for an executive order for the Bitcoin Strategic Reserve under Trump – and it's an absolute nightmare for anyone using bitcoin as money.
First, the draft order defines Bitcoin as "a finite store-of-value asset, akin to digital gold."
As someone who has lived on Bitcoin for a fairly long time, I can say that Bitcoin is not merely a "store-of-value asset", but a money for payment and day to day purchases.
Defining Bitcoin as a "store-of-value asset" reinforces the ossification narrative (who needs to move a stonk several times in a day?) which may put developers at risk when prioritizing changes to btc to make it more usable as money (think scaling for example).
With this definition, a softfork to activate covenants may become an issue of US national security that goes against the US' definition of its primary goals - directly putting developers in the firing line of the United States Government.
The draft states that federal agencies, such as the US Marshall's Service, may not auction seized Bitcoin off, but must contribute them to the strategic reserve.
This not only reduces the Bitcoin in circulation available to the public, but additionally sets the incentive for the US to increase its seizing efforts – think increased AML/KYC.
While I'm no fan of the strategic reserve in general, this draft is an even bigger disappointment than Sen. Lummis' proposed Bitcoin Act.
To compare this to how El Salvador has implemented Bitcoin, which I admit I initially wasn't a fan of either, ES directly gives citizens rights to use Bitcoin as money - which is a huge upside to benefit the people, and not just the national security state.
No offense, but letting a couple of children that just graduated college and a guy who runs a magazine draft US policy is a scene straight out of idiocracy.
Next time, maybe try speaking to the people actually building and using bitcoin, not just to the boomers and national security goons that sit on the money like a fat kid at the cake buffet.
Incredibly unprofessional conduct here by BPI, a huge risk to anyone using Bitcoin for anything other than an investment, and a testament to the people involved being more interested in furthering their own importance than to empower people with a money without state.
Sincerely hope that this EO is drastically challenged on all levels and hopefully somehow deemed unconstitutional to protect btc and the people developing it.
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Replies (25)
People like you have gotten me truly curious about Monero. Maybe I’m being fooled but I’m learning and value your argument.
Thank you. I am trying to make people aware of Bitcoin since 2010. In the last years I started to focus more on Monero.
It's borderline comical, that Bitcoiners are now almost as resistant to Monero as nocoiners were in the beginning to Bitcoin.
What I value most is...
freedom (the ability to follow my life as I see fit),
choice (market seeks choice over one ring/coin to rule them all, even if that means one thing dominates for some time),
honesty (there are tradeoffs in anything).
There are two really scarce assets in this world. Time and privacy.
Bitcoiners value time (hard cap that stops the dilution of stored energy/time/value) more than privacy. That doesn't mean privacy doesn't get scarcer by the day.
In the end we are all spiritual beings that get transcended by death. And neither striving for time nor privacy will change that. But that shouldn't stop us from aligning with higher principals in the meanwhile. Both Bitcoin and Monero bring new order from a level or two up.
The issue that the Bitcoin community has IMO is that they see BTC as the only valuable crypto and don't want a spare wheel like Monero.
not a spare wheel if it serves a function
and theres no good privacy on bitcoin
Monero is the only other coin I wouldn’t call a shitcoin as privacy is real issue in the digital world and should be taken seriously
Grin
Hell yeah!
But bro, lightning bro. Its good enough privacy bro. Trust me bro. Can you see i just zapped you bro? See? Its good enough privacy
they think it's a fixed pie, and when you buy anything besides bitcoin it means you are personally stealing from them. the entire cryptocurrency marketcap sans bitcoin was personally stolen from them. that's how they think it works.
@ the bottom of my rabbithole i found moneros resting/*
I only use three currencies, inc Monero, and everything else is foreign exchange (as needed)
What are the other two?
some people don't understand yet what's coming and each of them will get the Bitcoin they deserve.
follow your curiosity and than make an educated decisions for yourself. At the end of the day, you're the only one responsible for your future. Just don't buy Monero because others tell you that you should. You should have a better reason than that.
Yes, I do own some Monero beside Bitcoin. For years.
Bitcoin and LTC. I used to mine both.
The way I see it, not a blockchain, not a coin. In other words everything that's a smart contract I'd a shit-token. Then there is altcoins and among those there is some "currencies" with a valid right to exist.
From there the only question is if you have utility / use for one of those currencies. If you don't then don't buy them cause that is speculation.
People are overthinking stuff
They need to think harder
At least they're excited over etf inflows and wall street buying up the supply. Some people are in for a very rude awakening very soon
Well said!
Exchange all your Bitcoin for monero now!!! 🙏😀😂
If I listened to that a year ago I'd be crying today.
You shouldn't touch the internet without privacy tools and best practices.
For everyone else there is Facebook, Microsoft Windows, iPhones and monero.
Can someone tell me how much Bitcoin I own since its so non private?
Waiting... ... ....
No I don't see the value in monero.
No supply cap
Expensive transactions
Might as well convert to cash and back for the same result.
Heck I'd rather use cash day to day.
At least it's accepted at some retailers and people actually have heard of it.
Not to mention the xmr community is full of negativity and people with inferiority complexes.
If I wanted the bluesky crowd I'd join bluesky
THIS IS NOSTR!!!
You fail to understand the difference between anonymity and privacy, or are just being purposely obtuse.
You can attempt to remain anonymous on a transparent public ledger, but your transactions themselves are never private and is a foot in the door to unraveling your anonymity.
You can't see the value in a Monero because it's transaciton values are actually hidden from the blockchain 🥁
Less than 2 cents to transact is not expenisve. A bit ironic coming from a Bitcoin guy where fees were $100+ earlier this year.
You can't use cash to transact instantly with anyone on the planet and it suffers from centralized, arbitrary, and unpredictable inflation along with many other disadvantages I could list
I still wont put my savings in it.
its nice that it exists if I need it for specific situations, but thats about it.
expensive transactions...?
compared to what?
have you ever actually used Monero?
Agreed. Monero has its purpose for when you need it that's about it.
I don't have anything against it, more their community lol
