It don’t look too good after 2018 vs BTC. Lol. And it’s a long term trend too. I think it’s time to start living with the fact that Fluffy could be right when he used the beta vs VHS comparison... That better tech doesn’t mean automatic win.
You analysis might be right... but that last phrase.
"That better tech doesn’t mean automatic win." That is a black and white statement that sort of puts Monero in a fight against Bitcoin. Early in the history of this project the community did not see Monero as particularly the successor to bitcoin, but instead as a compliment to it. After all there are MANY strong advantages to a cryptocurrency project with a transparent ledger. Likewise there are arguments for a project whose base layer is obfuscated.
But in more recent years the monero community has become more and more like the BCASH community with some of the devs, also being more vocal about Monero really being the replacement to Bitcoin. A lot of the same talking points worked their way over to Monero... Bitcoin isn;t p2p cash, there needs to be an adjustable blocksize, without perpetual inflation bitcoin is doomed.
In essence: Monero is the successor to Bitcoin.
This is a sentiment that I believe has done great damage to the monero community. It has turned the community into just another shitcoin like Ripple (The banks will use it!), or nano (fees will kill Bitcoin) or BSV (the sky is orange! Well yeah.. BSV is a fucking trainwreck). Monero is "The coin you thought Bitcoin was" or Betamax to Bitcoin VHS.
But luckily the community is not really that relevant when it comes to Monero's continued leadership of the privacy sector of crypto.
Monero has fallen to #40 on Coinmarketcap. Why? Well that's easy. The narrative just doesn't matter to anyone any more. Monero really NEVER positioned itself as a way to make early investors rich. (The community has taken that BCASH slogan as well that Bitcoin is just "NGU tech" and therefore evil). It does not have the scammy fundamentals necessary to be best in class as far as the scams do. Shuiba Inu is doing real well there with however many trillions of coins issued...
But Monero hold the VERY UNIQUE position of being a distributed digital currency with an actual reason to exist. It is the fairest project that is also best in class for privacy. And there are some really nice design choices that might just contribute to it's continued success. Like the perpetual reward, and the convertable block size. This is what makes it valuable. Period.
The ONLY thing that will increase the price of an asset like Monero is more demand. Econ 101. And the demand for get rich quick garbage is outstripping it handily. As well as whiz-bang digital rube goldberg machines.
Monero does not need to displace Bitcoin to be valuable. It never could anyway. Because bitcoin is WAY BETTER AT WHAT IT DOES than Monero could be. AND it was first, yes.
But if Monero is as useful as I think it is (in contrast to something like Shibu?) then it is severely undervalued. So I believe it goes up in value again... someday. it might take a while for people to get it... And frankly? Bitcoin is the better store of value. Monero is good for transacting with.... so if you don;t hold much, who cares about the charts?
Right. We want it to go up. Yeah me too. And I think it will. It really has to.
I recall one of Risto's points, that helped sell me on Moreno, was that it was a perfect complimentary blockchain to bitcoin. You won't hear many arguments like that anymore.
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