As far as I'm concerned, this whole BTC vs XMR debate is silly. Or at least, the common BTC maxi position completely excluding any use case for anything other than BTC is.
Is anyone talking about using XMR to store wealth long term? Maybe there are some, I don't doubt it. But that's not what I see most commonly.
People seem to advocate for XMR as a privacy tool for exchanges, often explicitly describing it as a complement to BTC's SoV use. To me, that makes total sense and is something I can see myself doing, if I ever find myself needed private spending in the future.
In that light, the hypothetical long term depreciation of XMR vs BTC is irrelevant, because XMR wouldn't be used long term. You just buy some XMR with BTC when you have to spend it, and keep your savings in BTC all the same.
It's exactly the same with fiat, which I keep arguing that will never go away for this exact same reason: it doesn't matter at all that it depreciates vs BTC -- unless you get to a hyperinflation kind of scenario when not only the SoV function of fiat no longer holds, but its the unit of account function ceases to exist as well.
The argument for XMR as currency vs fiat is privacy. So three things, to summarize:
1. BTC as SoV
2. Fiat as unit of account and medium of exchange with no privacy
3. XMR as medium of exchange with privacy
That's how I see things at least.
hh /
npub1s2…8dsym
2024-08-02 08:07:20
in reply to nevent1q…648j
Author Public Key
npub1s277u5rww60te98w9umz6p7pjcxuus96cegdsf4y978qcqvu8jtq88dsymPublished at
2024-08-02 08:07:20Event JSON
{
"id": "534674ebb93caec53aa4198426e999a69d13ffc979a8625fb4bea5f0d7f1937a",
"pubkey": "82bdee506e769ebc94ee2f362d07c1960dce40bac650d826a42f8e0c019c3c96",
"created_at": 1722586040,
"kind": 1,
"tags": [
[
"p",
"4ec9f1a936c7731fd67ed2ac3d105eb134790a5e97219679ba86968649b6d496",
"wss://brb.io/",
"anchorite"
],
[
"p",
"6e72694e0ba228a75cb6d8075b922e15eef4403c94153c6b6ff9caa18a5e39f8",
"wss://relay.mostr.pub/",
"rimugú"
],
[
"p",
"af740d198babb8c7b82d0a4718eb354bb3f6af9a98639b85d4a5cf1371caba85",
"wss://relay.damus.io/",
"SaberhagenTheNameless"
],
[
"e",
"8c0c9cd2dc8c48667fbe20c4b8a7d5435e5b9760389bd2c5648826c60150d2c9",
"wss://relay.damus.io/",
"root"
],
[
"e",
"f35822e0a1ed344a0f5c6da3bd0d42942304aefed1c73b1866678845cec50aaf",
"",
"mention"
],
[
"e",
"708a8df8cf6c864bcf14633296bae1afdf3b79b94c8079019c5cb5e53167eb31",
"wss://relay.damus.io/",
"reply",
"af740d198babb8c7b82d0a4718eb354bb3f6af9a98639b85d4a5cf1371caba85"
]
],
"content": "As far as I'm concerned, this whole BTC vs XMR debate is silly. Or at least, the common BTC maxi position completely excluding any use case for anything other than BTC is.\n\nIs anyone talking about using XMR to store wealth long term? Maybe there are some, I don't doubt it. But that's not what I see most commonly.\n\nPeople seem to advocate for XMR as a privacy tool for exchanges, often explicitly describing it as a complement to BTC's SoV use. To me, that makes total sense and is something I can see myself doing, if I ever find myself needed private spending in the future.\n\nIn that light, the hypothetical long term depreciation of XMR vs BTC is irrelevant, because XMR wouldn't be used long term. You just buy some XMR with BTC when you have to spend it, and keep your savings in BTC all the same. \n\nIt's exactly the same with fiat, which I keep arguing that will never go away for this exact same reason: it doesn't matter at all that it depreciates vs BTC -- unless you get to a hyperinflation kind of scenario when not only the SoV function of fiat no longer holds, but its the unit of account function ceases to exist as well. \n\nThe argument for XMR as currency vs fiat is privacy. So three things, to summarize:\n\n1. BTC as SoV\n2. Fiat as unit of account and medium of exchange with no privacy\n3. XMR as medium of exchange with privacy\n\nThat's how I see things at least.",
"sig": "0bdbebc2cb27bd8a36d090fec95ca6cbe124d773e14407f861548908daa958246cb2d4f7e7f3ea1cef05c1757e69e2964898f209cc67eb59f747bccf0e4ce677"
}