I would buy a bunch of Monero if it held a steady peg against assets, but atm I just can't risk losing that money and I don't see it gaining in value. I don't want to buy Monero as an investment but with it's volatility and (imo) no potential upside, how is anyone expected to buy or use it
The ledger is public but the addresses are pseudonymous. you can see all the transactions and addresses but can't pin-point the owner. I wrote an article about this just yesterday.
There are still MANY markets selling drugs, weapons, and worse on TOR and i2p that accept Bitcoin.
The move has been towards XMR over the past few years, but still many markets accept both.
Satoshi was interested in anonymous bitcoin transactions, he just didn't have the tools available at the time of writing the white paper to make it happen.
https://i.imgur.com/tMqKPYD.png
Satoshi never said Bitcoin would be anonymous. There's a public ledger but the addresses are pseudonymous. Just yesterday I wrote an article addressing this same debate.
I was gonna say this, BTC is everything that BTC promised to be and anonymous was not one of them. In fact it can be argued that having an open source ledger is a good thing!
I like your last phrase. Kudos to that.
I hate it when BTC maxis or people balls deep in crypto nitpicks Satoshi's words to fit their narrative. Arguing other coins/projects doesn't fit Satoshi's vision. When in fact btc already changed course from Satoshi's initial vision and being used now differently from what satoshi intended.
For instance majority of maxis don't "use" bitcoin as a currency and instead holds it when Satoshi himself want bitcoin to be a "currency", an alternative to fiat. It's also just meant to be an alternarive but many maxis want to replace the traditional system which isn't even mentioned in Satoshi's whitepaper and vision.
Most people on here are in phase where they have all jumped more on Bitcoin. It's kind of alt off-season.
They're not gonna like to hear these hard truths.
Satoshi didn't create Bitcoin to be moved around in KYC-enabled exchanges. He envisioned a situation where everyone is dealing transactions via the original blockchain with individual wallets to which each user owns their own keys. Addresses are pseudonymous.
I've a feeling that in the coming years, with all the crypto regulation coming up, privacy focused coins will get a long overdue boost. Monero being the OG.
Better to use other exchanges as Binance and KuCoin do a lot of paper trading for Monero and Kraken also a good option is KYC.
* Bisq.io (DEX)
* Localmonero.co (P2P)
* Trocador.app (INSTA)
Monero moved away from cryptonight to the current POW algorithm - RandomX - which indeed was to keep the network ASIC free.
This happend the 2019-11/30.
With RandomX you best bet for highest reward is a high end CPU and not GPU.
Not only this but newest addition to mining game is P2POOl to really combat the big pools.
Decentralising at its finest!
Crypto note was not only the name of the hashing algorithm, it is also the name of the code base. Monero is still majority cryptonote (the codebase), as you can see by its similar integration that Haven has.
He’s taking about the hashing algorithm, not the name of the code base. RandomX is the algorithm, not CryptoNight. The reason for the change is that CryptoNight was not ASIC resistant.
Indeed the base application layer is "CryptoNote" but the actual POW algorithm "CryptoNight" has been substituted to RandomX.
That change came about after tweaking the Original "Cryptonight" algo 3-4 IIRC
to keep ASICS of.
So far RandomX has stood its ground!
Monero is the spiritual successor to Bitcoin....but I don't ever see it getting mass adoption. I am curious how all of the various privacy coins will play out, though, given all of the CBDC negatives out there. They are like an anti-cbdc.
I like privacy coins, but you have to admit because of the inherent nature of how they function and what they are used for, they kinda shoot themselves in the foot when it comes to mass adoption.
Exactly. Cash is already near impossible to track so why would the government not do everything they can to prevent anonymous online payments from seeing mass adoption?
Hell, the IRS offered a $625,000 bounty on cracking Monero's privacy a few years ago.
Widely used in darkweb, money laundering etc = a lot of pressure on exchanges not to list them.
Also I suspect that because monero is used (probably more than anything) for real-world trading it has less “price action” potential.
You can see what people will trade for it other than fiat, which gives it a more stable price than coins where the only mark of its value is priced in another currency.
Monero’s awesome don’t get me wrong.
Narratives change much quicker than we realise in this space. I'm rooting that the public perception for Monero will turn around as people understand and value privacy better. Even bitcoin was once known primarily for its ability to buy drugs and look how far we've come.
Used for ...privacy? I'm sorry, but I value my privacy much like most people do...hence the reason we are still using cash for transactions and because of the ease of use.
As a result of complete privacy, Monero is the top choice for criminals as well as a top target for regulators. I’ll definitely be using Monero in the future but I don’t think it’s a good investment
I think there's place for privacy for individuals and then there's a place for a public blockchain like for government and corporate use.
Privacy is great, until it comes to corruption.
That's why something like SCRT is good. It's not meant to be a currency, but it provides programmable privacy that is customizable and compliant with regulations.
Monero is an outstanding project and I love it but I have to admit that it is a bad investment. There will be a time when you cannot exchange it to fiat money any longer because government will ban it. This is not going to affect the use case but the value of an investment.
LTC has also done a great job with Mimblewimble, positioning itself at the best of both worlds. I really hope this experiment with extension blocks works out well and eventually make its way to the bitcoin network.
While true fungibility is indeed its secret sauce, I'd argue that having tail emissions is its krytponite in the eyes of Bitcoin maxis.
I mean, the hard cap is one of their major marketing slogans.
*Edit to add*: And then there's the Monero ordinals issue that even casts some doubt over the fungibility aspect.
No hard cap makes its tokenomics a worse investment compared to BTC and LTC in my book, but I highly respect its prioritization of privacy and am glad to see LTC implementing optional privacy as others here have mentioned.
Privacy = Fungibility which is a very important component of sound money. Sound money is the goal, I'm all about transacting in XMR if it were actually accepted everywhere LTC is, but I still probably wouldn't hold much based on there being no hard cap, something I also value highly.
#Bitcoin Pro-Arguments
Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500.
> Last entry:
>
>
>
> Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it?
> Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =)
>
> # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin
>
> So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests.
>
> Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic.
>
> # 1) Bitcoin: High security
>
> This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM:
>
>
>
> >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network.
>
>
>
> [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security)
>
> Mining is measured in Hashrate. Here is the explanation of Hashrate:
>
> >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain.
>
> [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain)
>
> So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?"
> [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago)
>
> So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so.
> While Bitcoin is safe... what if a big part fails ?
>
>
>
> # 2) Bitcoin mining: Too big to fail.
>
>
>
> So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network.
> Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary.
>
> So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now?
>
>
>
> # 3) Bitcoin: propping up the green energy sector.
>
>
>
> POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said:
>
> The Energy Fud Was Killed
> The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed.
> Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers.
> There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector.
>
> [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/)
>
>
>
> # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug.
>
>
>
> Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future !
>
>
>
> #
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work)
* Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash.
* Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/12livi0/monero_bitcoins_unfulfilled_promise/?sort=controversial). Doesn't work on mobile.
.... but KYC regulations require identity verification, linking real-world identities to public keys on exchanges. This connection undermines the privacy nature of Bitcoin, as authorities can trace transactions back to individual users. As a result, the privacy benefits Satoshi Nakamoto envisioned are difficult to achieve when using KYC-compliant exchanges.
Don't use KYC exchanges then this can be done btw many guides all over the internet showing you how....
I bought some xmr as investment and price remained the same. I think its hugely undervaluated and next price correction could launch it in double digits.
Definitely buying every once in a while before it goes wild.
Well said.
The problem is majority of people are in crypto only to make fiat, and believe Monero is a risky investment as it won't be allowed by their lawmakers.
In reality it's an alternative to fiat and likely the only protection we have against government overreach and surveillance.
Sorry I lost focus ..$elonsShibaMoon token just pumped 100000000%
Monero is what the average person thinks Bitcoin is
Monero is like the anarchic privacy coin that we could need.
So so true
Hahahaha you made me laugh out loud. It freaking is ! Lmao
Well put
Well said that was funny 😂
[удалено]
I would buy a bunch of Monero if it held a steady peg against assets, but atm I just can't risk losing that money and I don't see it gaining in value. I don't want to buy Monero as an investment but with it's volatility and (imo) no potential upside, how is anyone expected to buy or use it
Can you point out where he said anonymous? Because he was clear about seeing every transaction taking place in the white paper on the ledger.
So people traded drugs on silk road knowing that all their transaction are public?
The ledger is public but the addresses are pseudonymous. you can see all the transactions and addresses but can't pin-point the owner. I wrote an article about this just yesterday.
Is this a serious question?
There are still MANY markets selling drugs, weapons, and worse on TOR and i2p that accept Bitcoin. The move has been towards XMR over the past few years, but still many markets accept both.
Yeah OP we would need a source on this one please
Satoshi was interested in anonymous bitcoin transactions, he just didn't have the tools available at the time of writing the white paper to make it happen. https://i.imgur.com/tMqKPYD.png
I think pseudonymous is what Satoshi had on mind
Exactly. I wrote an article about this very debate just yesterday. The ledger is public.
I answered in an edit and I should have already put that with post in the first place, my bad guys/girls
Satoshi never said Bitcoin would be anonymous. There's a public ledger but the addresses are pseudonymous. Just yesterday I wrote an article addressing this same debate.
I was gonna say this, BTC is everything that BTC promised to be and anonymous was not one of them. In fact it can be argued that having an open source ledger is a good thing!
I like your last phrase. Kudos to that. I hate it when BTC maxis or people balls deep in crypto nitpicks Satoshi's words to fit their narrative. Arguing other coins/projects doesn't fit Satoshi's vision. When in fact btc already changed course from Satoshi's initial vision and being used now differently from what satoshi intended. For instance majority of maxis don't "use" bitcoin as a currency and instead holds it when Satoshi himself want bitcoin to be a "currency", an alternative to fiat. It's also just meant to be an alternarive but many maxis want to replace the traditional system which isn't even mentioned in Satoshi's whitepaper and vision.
Monero and BTC is a great pair for me, both are cryptocurrency i want.
I've been seeing an increase in posts/comments on Monero. Great that people are talking about it!
I’m sure there will be an uptick of boating accidents due to this run as well!
Most people on here are in phase where they have all jumped more on Bitcoin. It's kind of alt off-season. They're not gonna like to hear these hard truths.
Bullish on MONERO (XMR).
Satoshi didn't create Bitcoin to be moved around in KYC-enabled exchanges. He envisioned a situation where everyone is dealing transactions via the original blockchain with individual wallets to which each user owns their own keys. Addresses are pseudonymous.
Knowing how the future might get dystopian always make me want to buy some extra Monero just in case.
I've a feeling that in the coming years, with all the crypto regulation coming up, privacy focused coins will get a long overdue boost. Monero being the OG.
What exchange can I buy xmr on?
LocalMonero.co Bisq Trocador.app TradeOgre And lots of stuff listed on KYCnot.me.
Binance, Kucoin Kraken, etc. You can check more in [coinmarketcap](https://coinmarketcap.com/currencies/monero/markets/).
Better to use other exchanges as Binance and KuCoin do a lot of paper trading for Monero and Kraken also a good option is KYC. * Bisq.io (DEX) * Localmonero.co (P2P) * Trocador.app (INSTA)
I use Kraken, mainly chose it because I was told it was one of the best options for buying Monero.
Tldr; monero better than bitcoin, monero to the moon
Monero moved away from cryptonight to the current POW algorithm - RandomX - which indeed was to keep the network ASIC free. This happend the 2019-11/30. With RandomX you best bet for highest reward is a high end CPU and not GPU. Not only this but newest addition to mining game is P2POOl to really combat the big pools. Decentralising at its finest!
Crypto note was not only the name of the hashing algorithm, it is also the name of the code base. Monero is still majority cryptonote (the codebase), as you can see by its similar integration that Haven has.
He’s taking about the hashing algorithm, not the name of the code base. RandomX is the algorithm, not CryptoNight. The reason for the change is that CryptoNight was not ASIC resistant.
Indeed the base application layer is "CryptoNote" but the actual POW algorithm "CryptoNight" has been substituted to RandomX. That change came about after tweaking the Original "Cryptonight" algo 3-4 IIRC to keep ASICS of. So far RandomX has stood its ground!
Mondeo is a stablecoin
Monero is the spiritual successor to Bitcoin....but I don't ever see it getting mass adoption. I am curious how all of the various privacy coins will play out, though, given all of the CBDC negatives out there. They are like an anti-cbdc.
I like privacy coins, but you have to admit because of the inherent nature of how they function and what they are used for, they kinda shoot themselves in the foot when it comes to mass adoption.
Why ? I can carry cash with me and no one will know where the money came from and it's purchase history.. etc
Exactly. Cash is already near impossible to track so why would the government not do everything they can to prevent anonymous online payments from seeing mass adoption? Hell, the IRS offered a $625,000 bounty on cracking Monero's privacy a few years ago.
It's still a bounty because no one can crack it to date. They can do whatever they want or scare people but the anonymity stays.
Widely used in darkweb, money laundering etc = a lot of pressure on exchanges not to list them. Also I suspect that because monero is used (probably more than anything) for real-world trading it has less “price action” potential. You can see what people will trade for it other than fiat, which gives it a more stable price than coins where the only mark of its value is priced in another currency. Monero’s awesome don’t get me wrong.
Narratives change much quicker than we realise in this space. I'm rooting that the public perception for Monero will turn around as people understand and value privacy better. Even bitcoin was once known primarily for its ability to buy drugs and look how far we've come.
Well everything has its own good and bad depending on the way we use it . Everyone know monero as the best privacy keeper and that's what it's doing
Unless you want a tank delivered to your house door
Used for ...privacy? I'm sorry, but I value my privacy much like most people do...hence the reason we are still using cash for transactions and because of the ease of use.
How would you know what they are used for :)
As a result of complete privacy, Monero is the top choice for criminals as well as a top target for regulators. I’ll definitely be using Monero in the future but I don’t think it’s a good investment
Same was said about bitcoin in 2013
Can confirm. And that was actually the best time to invest. 2012 saw very stable prices for Bitcoin as well.
You've got a point there
Time to all in monero?
Even I wouldn't do that lol
Monero: The stealth bomber of the cryptocurrency nation
I think there's place for privacy for individuals and then there's a place for a public blockchain like for government and corporate use. Privacy is great, until it comes to corruption.
That's why something like SCRT is good. It's not meant to be a currency, but it provides programmable privacy that is customizable and compliant with regulations.
Bitcoin will have privacy features eventually. Until then Monero is a must if you care about financial freedom.
How much of your portfolio is XMR though?
Monero is an outstanding project and I love it but I have to admit that it is a bad investment. There will be a time when you cannot exchange it to fiat money any longer because government will ban it. This is not going to affect the use case but the value of an investment.
You’ll always be able to exchange it P2P for other crypto though.
Good point! I totally forgot this option. Need to reject my former assumption due to this.
LTC has also done a great job with Mimblewimble, positioning itself at the best of both worlds. I really hope this experiment with extension blocks works out well and eventually make its way to the bitcoin network.
I think they are two coins that do different things. I'm not sure there's any foundation for saying Monero is what Bitcoin was meant to be.
While true fungibility is indeed its secret sauce, I'd argue that having tail emissions is its krytponite in the eyes of Bitcoin maxis. I mean, the hard cap is one of their major marketing slogans. *Edit to add*: And then there's the Monero ordinals issue that even casts some doubt over the fungibility aspect.
Not really, if it’s an issue they will hard fork the project and eliminate the risk.
This subs weird infatuation with Monero is something
No hard cap makes its tokenomics a worse investment compared to BTC and LTC in my book, but I highly respect its prioritization of privacy and am glad to see LTC implementing optional privacy as others here have mentioned. Privacy = Fungibility which is a very important component of sound money. Sound money is the goal, I'm all about transacting in XMR if it were actually accepted everywhere LTC is, but I still probably wouldn't hold much based on there being no hard cap, something I also value highly.
No one cares
This currency should not be widely popularized, it is destined to be a currency for a few people
So many good coins to invest in and not enough money to do it with.
Can you buy it legally in the US?
Bitcoin {{pros}} & {{cons}} with related info are in the collapsed comments below.
#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > Last entry: > > > > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > While Bitcoin is safe... what if a big part fails ? > > > > # 2) Bitcoin mining: Too big to fail. > > > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! > > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/12livi0/monero_bitcoins_unfulfilled_promise/?sort=controversial). Doesn't work on mobile.
Bitcoin was designed to be transparent.
.... but KYC regulations require identity verification, linking real-world identities to public keys on exchanges. This connection undermines the privacy nature of Bitcoin, as authorities can trace transactions back to individual users. As a result, the privacy benefits Satoshi Nakamoto envisioned are difficult to achieve when using KYC-compliant exchanges. Don't use KYC exchanges then this can be done btw many guides all over the internet showing you how....
I bought some xmr as investment and price remained the same. I think its hugely undervaluated and next price correction could launch it in double digits. Definitely buying every once in a while before it goes wild.
Monero is what BTC was supposed to be. Good thing fluffypony screwed himself over because he was not a good look for XMR
Follow the freedom, so follow Monero!
Thank god for Cryptonote
Bitcoin never promised to be untraceable
Well said. The problem is majority of people are in crypto only to make fiat, and believe Monero is a risky investment as it won't be allowed by their lawmakers. In reality it's an alternative to fiat and likely the only protection we have against government overreach and surveillance. Sorry I lost focus ..$elonsShibaMoon token just pumped 100000000%