Pretend we had a great reset. Every single cryptocurrency magically has their market cap reset to $1 million dollars. What would you do then?
Yes, network effects and brand recognition are real, but just as sure as good replaced seashells: good money chases out bad, every time.
Most of the time whenever someone wants to talk to me about Bitcoin’s continued dominance is assured, it’s because Monero could never replace the network effects it has. But if that were true, why did Bitcoin begin displacing the US Dollar? Why does it continue to?
Monero was an order of magnitude more advanced than Bitcoin five years ago, and that is even more true today. It continues to get better with arguably even better continued development than Bitcoin itself.
So pretend for a moment everything was equal again. No one owned any crypto, and everyone’s holdings were at once converted back to US Dollars. Which crypto would you pick based on technological prowess and future potential alone?
If you have any sense about you, it would be this one. No one would willingly choose to have their entire financial history publicly viewable when there is a clear and easy alternative, nor would anyone choose to have to trust masternodes or any other centralized checkpoints.
Decentralized, private money, with every computer having an equal chance to earn some. That was the dream back in 2008, and it is the reality we live in today in 2021.
Don’t chase the madness of crowds. Find the treasure they’ve overlooked and stake your claim. There will come a day when the worlds wealthy will line up shoving infinite amounts of fake government paper for the privilege of just owning a single Monero.
Make sure you get there first.
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