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.
-
-
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.
2 replies 0 retweets 0 likes -
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
4 replies 7 retweets 36 likes -
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?
1 reply 0 retweets 2 likes -
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.
2 replies 0 retweets 6 likes -
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.
1 reply 0 retweets 0 likes -
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...
2 replies 0 retweets 1 like -
They aren't my privacy coins.
2 replies 0 retweets 1 like -
Replying to @jonathanmarcus @MustStopMurad and
And I'm somewhat positing that it doesn't matter if Bitcoin is stronger across all of those other properties. Privacy could be its achilles heel / fatal flaw.
1 reply 0 retweets 1 like -
It doesn’t mater how private privacy coins are until they’re competitive in all those other criteria listed. Thus far the market is in agreement but we’ll see if your concerns have any validity in the coming years.
1 reply 0 retweets 0 likes
monetary network effects are more important than privacy still.
-
-
My perspective is network effects and privacy are *both critical* for sound money. ZEC, for example, may achieve both. But Bitcoin devs are not planning on implementing ZEC privacy technology.
0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.