this post was submitted on 20 May 2024
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Holy shit, the crypto bros are really triggered by this, out in full force in the comments. If the only argument you can bring for crypto is that you make/made money on it, that sounds a lot like a Ponzi scheme
I agree. Every crypto except XMR seems to be only seen as an investment to make more money.
Why XMR and not BTC? Do the privacy defaults change how it's seen?
BTC is solely a mode of investment, it offers no real benefits over fiat except decentralization. At least XMR is as or even more anonymous than cash, whereas Bitcoin has zero utility.
If there was a way to use Bitcoin more privately than USD cash, would that give it utility?
Yes. I suppose it would also have a sort of utility if it was mass adopted and therefore practically spendable for the average person, but I would argue that there is no inherent utility to Bitcoin.