If you think the altcoin crash is over you’re in over your head. Non-BTC Altcoins are yet to experience a *deep* & mind-bending capitulation. This market of utter and worthless scams is collapsing in slow motion. Bitcoin will drop the least as it commands the strongest trust.
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Replying to @MustStopMurad
I still think my question about Zcash deserved an answer since you (Murad) has been bullish on Zcash in the past. But I am sensing from your posts that you are evolving into a more BTC maximalist position, am I right?
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Replying to @VictorErem
yes. I increasingly believe that privacy as a feature alone is insufficient to compete against BTC’s monetary network effect nor accrue significant value to a separate coin.
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Replying to @MustStopMurad @VictorErem
Bitcoin's network effects will be no match against privacy coins that have the fundamentals needed to be a strong money. BTC's network effect is super small right now. Market cap of Bitcoin is 1/10 th of Apple, for perspective.
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Replying to @ask_aristarchus @VictorErem
Let’s say there are 20 characteristics that matter for a Store of Value. ZEC/XMR are superior to BTC in 1/20 of them, but BTC is superior in the remaining 19/20. That’s a fact. It will be a very uphill battle, even for privacy coins. Also, BTC privacy is improving.pic.twitter.com/raNMbzcEsi
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The # of characteristics is somewhat irrelevant given the importance of privacy as it relates to money and wealth storage. Who wants to use a system that reveals your entire balance when any money is moved?
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BTC privacy will be good enough & BTC privacy is improving while privacy coins are deeply lacking in all other areas vs. BTC. It’s a very uphill battle, more so if you believe this market is ultimately winner take all, which I do.
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I think the market size of a coin with 'good enough' privacy will be very very small. Nation states using crypto will not settle for 'good enough'. When there is broader understanding of the privacy tradeoffs and easier exchange between coins, no one will choose a weaker coin.
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But your privacy coins are “weaker” in security, decentralization, hashpower, number of devs, liquidity, volume, stability, brand recognition, gini distribution, scalability, market capitalization, size of the ecosystem, and much more...
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They aren't my privacy coins.
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That was a direct comment to aristarchus as you can see.......
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